Do you find that many customers leave items in their shopping cart without completing their purchase on your eCommerce site? You are not alone in this; shopping cart abandonment is something all eCommerce stores experience, and it creates a dent slightly bigger than the sales themselves.
According to 99Firms, $4.6 trillion is lost to abandoned carts, while the fortune of the eCommerce industry sits at $4.28 trillion. The mixed impact of the pandemic will soon start to reverse, leaving online stores even more competitive than before:
It can be said that nearly seven out of every ten customers who shop online will leave without completing a purchase. Thus, abandoned cart ads are a must for your eCommerce business as they help you fix this gigantic leak in your sales funnel while boosting your bottom line. In this article, you will learn how to build strong abandoned cart ads that allow you to win back your customers and increase your sales:
Importance Of Having Abandoned Cart Ads
App-based shoppers have a higher cart abandonment rate, while window shopping is the age-old challenge every eCommerce store faces. Having effective abandoned cart ads would have a direct and positive impact on eCommerce sales. An efficient email ad is an important part of your abandoned cart recovery strategy. While email ads have two major limitations :
- You can send emails to customers with whom you have the email address.
- And you cannot control whether your customers will open your email or not.
As a result, abandoned cart ads relying solely on email have only limited impact. To increase the reach and effectiveness of your abandoned cart recovery ads, you need to think cross-channel, as well as optimize the shopper experience after you bring them back to your sites. It is crucial to leverage SMS marketing ads and email ads, as it will increase your chances of attracting customers to your eCommerce website and complete the purchase. After all, SMS open rates are 98%, whereas email open rates hover between 20% to 30%.
Steps To Implement Abandonment Cart Ads
Before you start implementing abandoned cart ads, the first and foremost thing to do is segment the different cart abandonments. If you are trying to personalize your customer's experience, you can't treat each customer the same in your copy.
Segment your database of abandoned carts considering three mentioned points - Product, Repeat sale or First-time purchase, and Value of the cart.
You try to create retargeting ads for each product. If you are finding more abandonments for a specific product, then probably now it's time to revisit your product page. There could be an opportunity to reshuffle the content or layout to encourage and attract purchases.
Repeat Sale or First Time
Your shopper who has purchased from your company in the past should see an ad copy that will recognize this. This copy should speak to the individual shopper as a valuable customer and include a different incentive than a new potential shopper or buyer.
Value Of The Cart
The language in your ads should differ depending on the significance of their original order. For instance, a potential shopper who left a $9000 5k high definition TV behind probably should not receive the same copy as someone purchasing a $9 smartphone case. The incentive to drive the customer back to your site should also differ. Both individuals go through different variations of the recipient's journey, and your copy should align with their current stage.
Choose A Time And Frequency
Timing is key for your cart abandonment ads. If you show an ad too early, you will risk pestering the potential shopper as soon as they have decided to leave their cart. But waiting for too long could give your buyers time to shop on your competitor's sites. Finding the right time and frequency will depend on your buyer personas' behavioral and demographic characteristics, the nature of the items shoppers are purchasing, and the industry. It is always best to test different frequencies and send times to find what exactly works best for your eCommerce company.
Choose Your Platform
Many eCommerce companies have a built-in cart abandon email function. And while these are efficient, they should only prove as a component of your retargeting ads. For placing ads, there are several third-party options. The most common among all of us are "Facebook Ads," In this, by using the Custom Audiences feature, you can import lists of your cart abandoners to target them in their new feed again. "AdRoll" is another such tool that allows you to manage where your targeting ads appear, including Google, Facebook, and other third-party apps. "ReTargeter" can also place ads on different social media platforms and websites, but it comes in at a lower price point.
For SMS marketing, you must check out Winback as they are an industry leader in SMS marketing service in the eCommerce space. You can recover up to 34% of abandoned carts after you signup for Winback’s plans. You don’t have to worry about the prices either, as Winback offers one of the most competitive pricing in the industry. Also, for every dollar you spend on Winback’s plans, you will see an ROI up to 35X. To discuss how Winback can assist you, visit our website and drop them a message through the live chat option. You can also send us an email for a discussion.
Forge A Burn Pixel
Before starting, let me put up a simple question. Have you ever bought something online only to continue to see ads for it on other sites? Numerous retargeting platforms will have an option to forge a burn pixel which allows marketers to stop showing the ad once the individual shopper has purchased the item. For example, If you have ever tried to run Facebook ads, you will be familiar with the Facebook pixel, which works the same way as a burn pixel. To build a happy relationship with your shoppers and encourage repeat sales, try to ensure that your burn pixel is set up and working properly.
Strategically Develop Ad Copy
On average, Americans are exposed to thousands of ads every day. Your ads are strategically written with optimized, goal-oriented yet enticing copy to ensure that your ads break through the clutter. The ads which you are making also need to speak directly to your shopper's objection. The recipient left their cart for a reason. The more precisely you can uncover and speak to that problem, your chances of converting the shopper are much higher. If your ads constantly result in low click rates, you probably have to opt for a third-party look for your content strategy.
Use Advanced Nested Automation Workflows For Your Abandoned Cart Email Series
Lastly, we would like to ask you to curate a targeted nested automation workflow that collaborates with the 360-degree customer data you collect. It should help send the most relevant emails based on the user's browsing behavior on different platforms and their website activity. It is recommended to send abandoned cart emails after 24, 48, and 72 hours at ideal send times (10 AM to 11 AM) and one message a week later. This frequency can be altered depending on the industry as some have longer sales cycles while others go with quick turnaround periods.
Nested automation workflows help integrate data from all platforms, but it is necessary that you maintain proper monitoring best practices as they can skew out of context in many scenarios. We suggest you use custom email templates for different types of products based on the ticketing size, but you could go with ready-to-use templates too. Just make sure that they look identical to your ads on other platforms and create a consistent visual appeal across all platforms.
Lots of revenue is lost when there aren't cart abandonment ads in place. These ads take a little bit of time and work to set up, but once it's done and the incremental revenue they generate, more than pays for the effort as you incorporate these abandoned cart ads into regular practice and keep testing them.
Shopper expectations evolve, so testing makes sure that your abandoned cart ads not only get opened but also get customers to come back and buy something from your eCommerce website. It is crucial that you leverage both email & SMS marketing, as using them combinedly can do wonders for your website. With many high-profile customers like Epic, LaterGator, Hello Drinks, Minimo, Lico Rich, and more, Winback is the best for SMS marketing.
You can also read our case study of Ocha & Co to see how Winback’s SMS marketing setup enabled them to earn close to $250K in ten months. We hope this article will help you understand how crucial abandoned cart ads are for the eCommerce industry and why eCommerce business operators must use abandoned cart ads.