It remains one of the most confounding issues for digital commerce sites globally. A visitor will browse your website, fill their virtual shopping cart with any number of items and eventually depart. Yet they exit your site without completing one final, key transaction: paying for their goods.
Persistently high Cart Abandonment Rates (CAR) – which sits at 69 per cent industry wide – are a malaise for the nascent digital retail marketplace. According to Business Insider, CAR could be responsible for an estimated $4 trillion of lost revenue in the last financial year.
Increasingly, there are more sophisticated ways to win those visitors back. And then there is the option of simply just emailing them a reminder.
This unassuming but remarkably effective tactic is a strong starting point in the ongoing battle to improve your site’s Cart Abandonment Rate.
In fact, according to Sales Cycle, one recent study says that as many as 85 per cent of respondents find shopping cart reminder emails helpful. Similarly, 61 per cent of shoppers surveyed say emails get them back to their site again.
One of the key reasons for their effectiveness is they boast an impressively high open rate: more than 45 per cent. Almost as important is the click-through rate, which sits above 13 per cent. Perhaps most salient of all, 35 per cent of those clicks lead to a purchase.
According to one source, the figures are demonstrably lucrative: $5.64 of revenue is generated for every cart reminder email sent.
The motive to send a reminder email out after a visitor abandons their cart then is significant.
Shrink your site’s Cart Abandonment Rate
There are numerous reasons your site’s visitors abandon their carts before fully completing their transaction.
It’s for this reason that HiConversion’s suite of customer experience optimization solutions, including our feature-rich, unique Cart Abandonment Rate analytics are valued in the world of digital commerce.
Right now, we are offering the opportunity to try our CAR analytics free.
Enjoy the ability to understand the precise reasons your visitors are abandoning their carts and discover just how to improve your site’s cart abandonment rate.
Our adaptive customer experience optimization (CXO) allows you to detect customer preferences on your website and create a personalized optimal experience – in real time.
To truly understand your digital customers and gain extraordinary insights from our expansive suite of analytics and optimization, visit us here.