Brief analysis of the problem
According to Baymard Institute, the average documented cart abandonment rate is around 68.63%. For eCommerce businesses, that is losing more than half their possible sales. Online cart abandonment is a very common phenomenon.
With an increasing number of businesses taking their products and services online, people are getting used to probing more options before making a purchase. They not just seek products anymore, but also good deals on them and the reviews that a business has got so far.
The most common reasons for visitors to abandon their online shopping carts are:
- Saving the product for later or getting distracted by something around them
- Seeking for a better deal on the product
- Disappointment on seeing unexpected costs added to their cart total
- Not finding their preferred payment or shipping method
The House of Blouse too, was losing customers at the point of checkout. Their cart abandonment rates were high and they were consistently losing possible sales.
Whatever be the reason, here’s the one question that all eCommerce businesses have:
“How do you stop online shoppers from abandoning their carts?”
The problem we focused on solving was to convert the online shopper before he abandons the cart. We took a two step approach to this to ensure maximum results – lead generation and incentivising.
How Exit Bee helped
Since these are visitors who are interested in the products they have added to the cart, but are influenced by external factors, they can still be convinced to make the purchase. So we used our bounce prevention technology to implement a cart abandonment campaign.
The campaign targeted the visitors right before they left from anywhere midway through the checkout process. House of Blouse decided to lure their abandoning shoppers with an additional off on their cart total if they completed the purchase at that time.
We used a two step campaign, wherein we asked the visitor to enter his email address to get the special code.
Here’s what the campaign looks like:
And here’s how it works:
Our goal was for the online shopper to think, “This is the best deal I could get today and I might not get it tomorrow!”
The campaign helped in reducing the cart abandonment rate, increasing the sales and even generating leads for the House of Blouse. While many of their shoppers did complete the purchase on seeing an additional off, there were those who entered their email address to get the coupon and use it later.
The online store achieved a whooping 10% conversion rate on their Exit Bee campaign. That’s real sales and revenue from visitors that would otherwise be lost.
The shoppers got a great deal on their favourite products and the House of Blouse got more sales. Win-win!
Not all your visitors would want to complete their purchases right away. But you can make them re-consider this decision!
Exit Bee tracks the behaviour of each individual visitor on your website. It enables you to target the ones that are leaving with a custom campaign and messaging that holds them back longer to reconsider their decision.
Give them exactly what they could be looking for and chances are they’ll complete their purchase on their first visit itself!