Basket Abandonment is a great way to try and recover a potential lost conversion. On average online shopping carts are abandoned by 67%. No business will ever achieve a 100% conversion rate but a chance to recover some potential lost conversions will always help.
What is basket abandonment?
Basket Abandonment is when a potential visitor who has added one of your products to their basket/cart leaves the website and does not purchase that product.
Why are baskets abandoned?
Many businesses may think a customer abandoned their cart because they simply didn’t want to buy the product at that time. But after applying research you can uncover many different reasons why.
Common reasons why baskets are abandoned are:
- Unexpected costs – One factor of losing a conversion is hidden costs within the checkout process, when a potential customer adds a product and then goes to pay and could find delivery costs or transaction fees.
- Pricing of products – this will always be a major factor in basket abandonment which can never be avoided due to the range of prices for products online but there are ways to combat this factor.
- Just browsing – this is common and again will be a major factor in basket abandonment, 75% of baskets abandoned have an intent to return, this means that a time can be in essence with being able to get the potential customer back to purchase.
How to help convert customers who abandon
Identifying reasons why customers abandon would be the first route, using tools like feedback polls and surveys can help work out why customers abandon and then implementing some of the following tools available will help basket abandonment:
- Email – sending an email after the customer has abandon can help bring the customer back to the website and retain the conversion. Many factors can be in place as to why a customer has or hasn’t returned to purchase.
- Retargeting – this process is using ads to help bring customers back to your website, these ads could appear on websites with videos or blogs with sidebar advertising, but they allow you to be in front of the customer who abandoned the cart on your websites.
Get started with basket abandonment
Basket abandonment is a proven process which can help recover a lost conversion, identify reasons why customers abandon baskets and then implementing different abandonment tools within your marketing plan can help recover a potential lost conversion and increase revenue. Basket abandonment is a real opportunity to re-engage with a potential customer and turn them into a meaningful long term brand advocate.