Sales Psychology. How many times have you wondered why they abandon the shopping cart and leave without completing the purchase? What’s wrong? The site? Products; Customer; Or are you doing something wrong? Are you doing anything to turn that abandoned cart into a sale?
According to research the cart abandonment rate is around 70%, so obviously it’s not something that only happens in your own business. But despite the high rate of abandonment, it is possible to complete the sale efficiently and more economically than attracting new customers. It’s called abandoned cart recovery.
In this article we will see why the abandoned cart should be recovered and the tactics that can be use.
What is an abandoned cart?
There are many reasons why a customer might add a product to their cart without purchasing. Maybe he’s curious and wants to check the total price with shipping and taxes. Or added the item to the cart with the intention of purchasing it. But got distract special data and never complete the purchase. He could also have purposely added an item to the cart in hopes of receiving an email offer to retrieve his abandoned cart to save money. Or, more commonly, he simply found the shipping costs too high , so he didn’t proceed with the purchase.
An abandoned cart is when a customer adds a product or products to their cart but does not proceed to complete their purchase. For example, a customer may have intended to purchase, but the shipping cost was high so they simply decided to walk away and abandon their cart.
Why did this happen
- First of all, recovery helps increase sales . By reminding the customer that they abandoned their cart you can push them to finally complete the purchase.
- Retrieving an abandoned cart costs less than finding new customers . Who even if they come, may in turn abandon their cart. Retargeting ads tend to be affordable. And cart abandonment reminder emails are another cost-effective solution.
- When the abandoned cart is finally recovered, you can identify the cause of abandonment to work on it and improve any roadblocks. For example, a ASB Directory discount may be effective in recovering abandoned carts, or you may find that the shipping cost or price of your product is too high for the average consumer. If the dropout reasons tend to be repetitive then you should definitely do something about it.
- By working on abandoned cart recovery, you become a better business owner as you begin to realize areas where you can improve your business and therefore your sales. Sales Psychology