Online Entrepreneurs #06 How to Lower your Cart Abandonment Rate, and Squeeze every Last Bit of Revenue from Your Ecommerce Store

Happy New Year from all of us at Scoreify!

Over the past month, I have shared many marketing strategies that are not available in mainstream media.

But today, I bring to the table a subject that, while fairly well recognized, is often misinterpreted and mishandled by ecomm store owners.

To the seasoned ecommerce store owner, it’s not news that a mere 3 out of 10 checkout page visitors complete their purchase. Or, a staggering 70% of sales slip through due to cart abandonment.

And if you are selling a higher-priced product that requires a fair bit of education or pre-selling (like jewelry), your cart abandonment rate is probably even higher.

Yet, most cart abandonment follow-ups are bland, focusing solely on pricing, and totally lacking in creativity.

See,

There is a small percentage of cart abandoners who simply got distracted, and just need a little nudge to finish their purchase.

For these folks, cookie cutter messaging like, “You Forgot [Product Name] in your cart” may work.

But, most cart abandoners have legitimate objections that you need to address such as:

1. Shipping cost

2. Price

3. Mistrust

4. Lack of Payment Options

It’s also a proven fact that most people like to compare products before buying.

Time and again, I have incorporated a product comparison into my cart abandonment follow-up with much success. 

However, in order to do so, you must: 

1) Thoroughly research your competition’s product. Sharing the wrong information could land you in a legal soup.

2) Avoid overly disparaging the competition. This can backfire, casting you and your brand in a negative light. 

Check out how tracking app Segmetrics adopts a non-partisan tone, while still effectively engaging with their target audience.

Here’s another great cart abandon email from Advanced Bionutritionals, a supplement company.

Note, how Advanced Bionutritionals are trying to alleviate two of the biggest objections: price and trust deficit.

What’s more, to make their cart abandon sequence more potent, Advanced Bio-nutritionals is using a dynamic deadline sequence that’s unique to every email subscriber.

I have used Deadline Funnels for my deadline sequences for years now. 

And if you want to learn how to leverage scarcity, I strongly suggest you check it out.

Something that Advanced Bio-nutritionals is not doing and you and your business can profit from doing is email countdown timers.

With Deadline Funnels, you can add email countdown timers that sync seamlessly with the landing page, compelling more of your cart abandoners to take action.

Here’s another protein supplement manufacturer who’s using humor to enhance the effectiveness of their cart abandonment follow-up.

Using humor in marketing is, arguably, one of the most difficult things to do. 

If you are looking for some inspiration, you might want to check out Harmon Brothers, best known for launching Squatty Potty, that featured a rainbow-pooping unicorn.

Last but not the least, I like to use dynamic Facebook ads to show cart abandoners their cart, and offer an extra something to sweeten the deal.

Talking of Facebook, the algo uses more than 10,000 different signals to determine the juicy stuff to be shown at the top of the feed.

Which means, if your ads are in this coveted bracket, you can reach more leads, for less money.

If this is something that you need help with, feel free to reach out to us with your questions, comments, and thoughts.

We respond to each and every one of them.