In the eCommerce space, your customers only exist in two states – researchers and purchasers. Researchers will scour the internet, comparing and contrasting not just your products but your shipping rates, delivery time and purchasing experience. Purchasers have absorbed the lessons of their research and made up their mind. They know what they want and where they’ll get it.
The challenge in the eCommerce space has become sustaining the attention of the researcher as they make their transformation into a purchaser. When eCommerce stores can offer endless variations on price and experience, how can you stay top of mind and stay in the running?
The abandoned cart recovery is as much about the art of understanding your customers buying intentions as it is the science of timing your abandoned cart notifications. The abandoned cart will help you differentiate and stay competitive. If your customers are price sensitive, will they be motivated by a timed discount or free shipping? You can also use the abandoned cart to tell your customers how soon they’ll need to order by to qualify for expedited shipping or qualify for a bonus offer.
Many out-of-the-box cart options only allow you to target for 6 hours or 24. Where will your subscribers be in 6 hours? If they’re doing some late-night shopping, an abandon cart six hours later will only arrive in the inbox of a sleeping customer and your overtures will be slept on. If it’s before work, they’ll receive their abandoned cart in the middle of their 2pm staff meeting.
Sending 24 hours later makes sense, the customer is likely in the same position to continue their research and for your abandoned cart offer to have maximum effect. The only downside? The decision may have been made in the meantime and you’ve lost out.
Our suggestion? When your customers are in the buying mood, the iron is as hot as it will ever be – strike swiftly and strike hard. Send your first notification 30 minutes after the cart has been abandoned. That’s long enough for the customer to have continued their research but still early enough for you to be able to stay in contention with a timed value offer. It’ll boost you to top of mind and keep you in the running.
68% of carts are abandoned and a business can count themselves a success if they are recovering 5-10% of those carts. If you’re not taking advantage of abandon cart strategies, what would a 10% difference in sales do for your business? We can help.
Author: Matt McNeill