The Unattended Potential
At first glance, shopping cart abandonment seems to be a troublesome issue. You invest in marketing to generate attention and optimise your online shop – yet many shop visitors abandon the shopping cart unexpectedly. The result is, among other things, missed revenues and inefficient marketing measures. For online shops, this means: marketing activities and the connected costs do not reach their full potential as long as the shopping cart abandoners are not won back in the best possible way. However, a second, somewhat closer look shows the enormous potential behind shopping cart abandonment.
Why Shopping Cart Abandoners are relevant for an Online Shop
Successful companies recognise the potential of their business. That’s why online shops should set off alarm bells when it comes to abandoned shopping carts, because about 70% of visitors abandon their purchase with a full shopping cart. Abandoned purchases do not have to be simply accepted and are to a large extent preventable. Dealing with them is profitable for online merchants because of several reasons.
High Chance of Buying
Shopping cart abandoners have reached the website, already spent some time in the online shop and even placed items in the shopping cart. At this point, there is a very high probability of purchase, which wants to be exploited.
Winning back shopping cart abandoners is much cheaper and requires much less time and effort compared to acquiring new customers. Since there is already a relevant interest in buying, the potential customer does not have to be convinced of an online shop first.
Building up Existing Customers
By contacting shopping cart abandoners, it is possible to convert new customers into frequently returning existing customers. In this way, an online shop wins valuable customers with increased sales potential.
Dealing with the potential results in a significant competitive advantage if, in contrast to the competition, a high-performance and, in particular, service-oriented solution is used to win back abandoners.
Identifying and Using Potential
Learn in the e-book “Shopping Cart Abandonment: The unattended Potential” more about the potential of abandoned shopping carts and how exactly the recovery of abandoned purchases affects customer value.