Email marketers who segment their audience will see around a 700% increase in revenue.
It shows the value of segmentation and why it’s useful in marketing and in your business. Segmentation is especially helpful when it comes to reaching part of your email who haven’t purchased anything yet.
You want to segment your email list because it’s a way to personalize your emails. Your emails should be different to those who already made purchases and those who abandoned their cart.
This is why you should look at the cart abandonment rate. It gives you a glimpse of why people aren’t shopping for your product or why they are leaving it in their shopping cart.
Here’s a guide that tells you what cart abandonment is and why it’s important
What Is Cart Abandonment Rate?
A shopping cart abandonment rate is when some of your shoppers plan to buy something from your online store and then simply abandon it. They don’t return to buy it.
This is why it’s important to look at the cart abandonment rate and see how you can fix it. You want to evaluate what your average cart abandonment rate is and how you can fix the issue.
You want to evaluate why people are leaving their shopping cart if they originally intended to buy. What changed their mind? What percentage of shoppers are doing this in your business and how does it compare to the industry standard?
One of the reasons you might experience a poor cart abandonment rate is because your sales funnel is broken. It could be that the user intended to buy but couldn’t access the end cycle of the shopping cart.
You should also consider if you have too many confirmation pages for the user. This means you have the user select an item, confirm they are ready to make a purchase, confirm their shipping details, and other confirmations. The more confirmations you have, the more it can signal doubt to the user.
You should also consider the user experience. Perhaps the user wanted to buy your product but had doubts after experiencing slow loading pages.
Why Does It Matter?
Cart abandonment rate matters for a variety of reasons. One of the most important reasons it matters is because it hurts your revenue if you are not converting your leads.
You need to evaluate how much money is lost if you are losing a percentage of customers who are intending to buy but don’t fully convert.
You need to evaluate your sales page, the user experience, and how easy it is to shop on a mobile device. There could be a lot of reasons that the user is choosing not to buy.
You should also consider variables that factor into cart abandonment. For example, one of the factors that can play a critical role is the time of year.
If you are getting a high cart abandonment during the holidays, you need to consider that this might be that people are finding better deals elsewhere. It could be that somebody intended to buy your product then simply forgot to checkout.
Another factor that shows why cart abandonment matters are because of the additional costs. You might have too high of shipping costs, the user may need to create an account to shop there, or the user didn’t trust your website with their credit card information.
This is why you have to ensure that you have a seamless experience for the user. You have to consider all these factors and if they are holding some of your users back from purchasing.
When you understand cart abandonment, it gives you ideas of how you can fix your website or your sales funnel.
Strategies to Solve Cart Abandonment
One of the best ways to solve cart abandonment or reduce the rate is to send out email campaigns.
You can have an email sequence specifically designed for people who forget about their shopping cart. When you have a sequence of 5 to 7 emails that are designed to reintroduce your product, it helps you reignite someone’s interest in your business.
These emails are a way to entice someone to buy and remind them that they have something in their shopping cart.
Another way to solve your abandonment cart is to review how the user experience is on your website and mobile device. You want to make sure that there is a seamless experience for the user.
You want to ensure that your pages are loading quickly. One of the ways to review your website and the user experience is to have a session replay on your website, which tells you how users interact with your business and what they click on. You can see how session replay can make an impact on your business here.
The final way to improve your cart abandonment rate is to make sure that you have security software for credit card information. This information should also be conveyed to the user, giving them the confidence to make a purchase.
Now You Know Everything About Cart Abandonment Rate
Figuring out why users aren’t making purchases from your website can be confusing. It can also be frustrating to assess what changes you need to make because the more people are abandoning their cart, the more revenue you are losing.
This is why you need to look at your cart abandonment rate and assess how it compares across your industry. You need to assess what changes you need to make.
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