There is something doubly devastating about having high shopping cart abandonment rates. When customers come bearing armfuls of goodies to the checkout only to drop them all at your (virtual) cashier’s feet, you’re not only losing out on a sale but are also confronted with the fact that you’ve done something to drive that sale away.
Studies show the push could have been undesirable shipping costs or annoyingly long page load times or simply the indecisive air of a Thursday night (abandonment rates are highest on Thursdays between 8 and 9 p.m.). No matter the motive, the act is causing retailers to lose an estimated $18 billion every year and is impacting 68 percent of shopping carts.
With abandonment rates as high as 97 percent for mobile, the issue is one worth focusing on. The beauty of solving the problem of the vanishing shopper, aside from the obvious, is that remarketing those customers results in a 55 percent increase in spending. Do a good enough job of reeling deserters back in and you could see a jump in profits. But how do you bring them back?
You could try email blasts reminding customers of the wonderful purchases that could have been, a tactic that nearly 25 percent of the top 1,000 retailers employ. Or you could alert mobile users with an in-app notification. Unfortunately, research shows that mobile users tend to dislike pop-ups of any kind, with 60 percent of them opting to disable the notification feature on their phones. Personalized emails don’t stand much more of a chance as they typically garner a click-through-rate of about 10 percent.
As clicking seems to be the biggest roadblock to shopping cart recovery efforts, especially for mobile users, getting customers to tap “Proceed To Checkout” may seem impossible. Try taking advantage of the one thing mobile users’ fingers unfailingly gravitate toward: text messages. Texters read 90 percent of all messages they receive within the first three minutes of their arrival. It’s the personal aspect of messages that ignites interest.
When used in push notifications, this kind of personalized outreach has been shown to boost conversion rates 8.8 percent year over year, according to an Aberdeen Group study. SMS and MMS are great options for reaching customers. Even better is Rich Media Messaging (RMM), which allows you to send a design-saturated text embedded with copy, images and videos, essentially recreating the feel of an email. This strategy does require customers’ permission, however, once that access is granted it may have the potential to reunite users with their long-lost carts like never before.