How To Deal With Abandoned Cart In E-Commerce
Do you know that the average cart abandonment rate in the ecommerce industry is 68.81%? Ecommerce websites, despite having the convenience of shopping from anywhere, are potentially losing out on an enormous amount of revenue due to cart abandonment.
Cart abandonment in the digital world is similar to its offline counterpart. In both these cases, the users load up their shopping carts with the products they like but dump their goods before checking out. What compounds the issue is the fact that you cannot force your users to convert!
So, the question remains: what to do so that they complete the product? Well, marketing channels such as push notifications can help you to reduce abandoned cart by quite a notch. However, before you start sending your users the push notifications, you need to understand the underlying reasons that cause cart abandonment first. Unless you know what made your users not convert, you cannot tackle them efficiently.
Why does cart abandonment happen and its impact
There could be a lot of factors that contribute to the number of abandoned carts in your ecommerce store. Besides, these reasons may still arise even though you have quality products, or easy UI to attract your users.
The fact that the ecommerce sector is immensely competitive increases the number of abandoned carts. However, some of the key reasons for cart abandonment by the users are common across all ecommerce business. These are:
i. Uninterested users/ window shopper
ii. Lengthy signup process
iii. Shipping and logistics
iv. Not adequate payment options
v. Lack of payment security
vi. No offers, or discounts
vii. Lack of enough information about products
viii. No return policies
The impact of cart abandonment can be quite far-reaching. Abandoned carts can cause you to lose revenue, customers, and sales. It can also have a detrimental effect on your brand name, trust, and visibility if not countered at the right time.
Why push notification is the preferred method to reduce cart abandonment
Although emails and other marketing channels help you to bring back your users to the abandoned cart, they lack urgency as push notifications do. You can send push messages even when your app or websites are not open. Hence, the delivery rate and visibility are often higher than other marketing channels.
Below are the few factors to emphasize the role of push notification in reducing your abandoned cart statistics.
i. Higher opt-in rates
As you can design your push notifications to contain deep-link to the exact page you want your users to be, the chances that they will opt-in to your services increases. Moreover, push notifications display highly relevant products according to the interests of the users. This helps in creating a better intent from the users to opt-in to your services.
ii. Better open rates
Since push notifications are highly targeted messages, they tend to improve the open rates significantly. Additionally, the notifications are delivered on mobiles and desktop browser. Therefore, the delivery rate and read rate are higher than any other marketing channels.
iii. Can improve the clickthrough rates
Push notifications allow the inclusion of rich-media and graphics. Further, you can include features like carousel notifications (display multiple products in a single notification), URLs, and rich-media to display accurate information about your products. It helps in building intent and improving the engagement of the users. Alternatively, it helps in increasing the clickthrough rates of push notifications about your products.
iv. Can improve conversion rates
Push notifications are personalized messages, showing relevant products to your users. As you improve the opt-in rates, open rates, and clickthrough rates, the chances of widening the top of the funnel for your ecommerce store increases. Therefore, the conversion rates improve, and the number of abandoned carts are reduced.
Best Push Notification practices to tackle Abandoned Cart
Now that you know the impact of abandoned carts and the role of push notification to improve conversions, you need to learn the best practices to tackle the issue of cart abandonment. You can check out the following methods to curate your push notification for improving their performance.
i. Personalization and relevance
Personalization and relevance play a huge role in any marketing communication. Push notifications allow you to design your messages with personalized content according to the relevant users. As the messages can be sent to users according to their placement in the marketing funnel, the chances of converting them increases.
ii. Offers, discounts, and social validity
While designing your push notification campaigns, you can include some offers, discount or some extra information to provide a social validity of the products using product labels. This helps in easing the decision-making process of the users. Moreover, offers and discounts provide a sense of urgency among the users, thereby urging them to complete the checkout procedure faster.
iii. Can be used as a reminder
As your ecommerce store lets you know which users have abandoned cart to their names, you can send them push notification in the form of a reminder to complete the checkout. Further, you can add the checkout page link in the push notification itself. Hence, when users click on it, they are taken directly to the checkout page, thus help in completing the purchase faster. A push notification here acts as a subtle nudge towards reminding the users of having an abandoned cart.
iv. Automating the process with the right platform
Selecting the right platform for running a push notification campaign is critical to reducing the cart abandonment rate. This is particularly important as your push campaigns are mostly automated, and the messages are sent to users according to the platform algorithms. The push notification platform, running on the IntelliRec algorithm from Vizury helps you to automate your campaigns with quite a few unique capabilities. It can carry out smart segmentation, use product labels to provide social validation of the products, understands user behavior and send highly engaging dynamic push notifications to the relevant users.
Following these practices can help you to improve the performance of your push campaigns by quite a few notches. It also helps you to create highly engaging and targeted push notifications to fast-track the decision-making process of the users and eventually converts them.
The overall revenue lost due to abandoned cart is between 2-4 trillion dollars in 2018. Therefore, you must recheck your marketing strategies to plug this much loss. Push notification helps reduce the cart abandonment issues if you can use it right.
Additionally, you must also understand the users’ psychology to get an idea about why they are leaving abandoned carts behind them. Using the understanding, you can create your push notifications to engage them. Moreover, you must identify the elements of your push notification to keep its alignment towards converting more users.
Let us know the difficulties you face while tackling the abandoned cart for your business. Get in touch with us at firstname.lastname@example.org if you are looking to reduce your cart abandonment with push notifications and to increase your conversions with high-intent push notifications.