Do you find many people abandoning their cart before finishing payment on your website? If so, this video is perfect for you, I will be discussing a few strategies to make sure those people return and finish their payment.
It is important to know when to send out reminder emails, we don’t want to be too soon because we may seem eager but also not too late, because they may have moved on and purchased from a competitor. We want to make the most of each person that lands on our website and especially those that were close to ordering.
If you don’t know how to set up cart abandonment flow, check this link to watch the video tutorial.
Also, I will be giving ideas on what emails to write and what to say in those emails to make sure you get them back to your website and the cart most importantly. Offering an incentive is always great but also with urgency, such as ends in 24 hours!
– In this video, I’ll show you advanced abandoned cart strategy by using data you already have about your customer. Inspiration for this video, actually I got from Neil’s YouTube channel. He has one video called Setting up one product sales funnel. And in that video, he goes into details how to set it up from blending page images, check out and so forth. And this is complimentary video. I just want to add to that from abandoned cart standpoint. According to different studies in the US in 2019 to 2020 close to 77 percent of customer abandoned their cart. So, I bet the sales funnel that Neil shows you in his videos, a lot of customers went up to the point for paying for the product and they abandoned their carts. What should you do with that? So, let’s start from basic how to set up the basic follow up or response for abandoned cart and then let’s add on some additional features by leveraging the data you already have. Before we continue with the video, I have a short announcement to make. We are growing and we have a few spots available for new clients. And I would like to tell you about our partner program, Give $1,000 Get $1,000. How does it work? If you know anybody in your network who are E-commerce brand online retailers, please refer them to us and easily sign up with us. You will get $1,000 and they will get $1,000 discount over their credit. Or if you are E-commerce brand and you would like to work with us, we’ll give you $2,000 towards your first month of the retainer. Just visit flowium.com/partner and see the details of our partner program. And we have a template there, email templates, which you can send it to your friend or somebody you know in E-commerce space. So let’s go to my computer and I will show you the diagrams, a strategy, how things should work. Unfortunately, I didn’t have access to Neil’s, this page, but it’s good that I have a YouTube since I can show you around. So, the checkout process, before they pay, I usually collect the phone number, shipping address as well, as it’s not visible here, but somewhere here is probably email, email address. So when they collect email address before even the pay, that information is collected and that information is yours and it’s free to re-market. Even if you don’t sell them during the checkout process, please don’t think it’s lost sale because you can recoup that sale by using email marketing. So, let’s go to my mirror account. So this is where I create different strategies. So, the event called starter checkout. So, it will be entered there, contact information, email, phone number, and address where to ship. And they went to the payment option, but they did not pay. So it needs a starter checkout. Different software works differently, but software I personally use called Klaviyo. It’s the best email marketing software, but I mean, different people use different things. So, typically we put the delay before starter checkout and before we send them the first email. Why? We need the delay because we want to check if they did not end up buying, because maybe they started the checkout, then maybe they, I don’t know, somebody called them. They wait a few minutes and they, 15 minutes later, they finish the checkout. The typical delay is four hours. Let’s say they started the checkout. Then they did not buy. We wait four hours and then we send the first email. First email we call just reminder. Like, “Hey, Mr. Buyer, I know things happened, “please finish what you just started” and provide them image of the product they left in their cart, product description, product title, product price, and the most important, call to action, complete the purchase by showing the call to action as well, the link back to cart. If you set up all of this, which is extremely basic, you will see a very high return on investment because it will take you probably at the most one hour to set it up. I mean, this is my profession, so I can do it like probably in less than three minutes, but let’s say you’re doing this first time. You need to figure out how things working. So maybe for you, it will take you the maximum, like one hour. First of all, it will work on autopilot because it’s automation. And second, in addition, you will convert those people who abandoned your cart into customers. Okay, so let’s say they not buying. So, the next thing we want to do, maybe wait another, typically, it’s between, typically it’s one day wait. So we wait one day. And, we want to send them another email, email number two, which is called reminder plus discount. I mean, different people use different strategies. Somebody puts on their second discount in the second email, sometimes people send a discount in their third email. It’s up to you. But I highly recommend when you send discount, add some kind of urgency, plus urgency. If they do not buy urgency and add, let’s say 24 hours. Say something like, “Hey, Mr. Klein, “you express some interest to buy this item “but you didn’t finish your purchase. “This is why we want to incentivize you with, I don’t know, like 50% discount or 20% discount. It doesn’t matter. However, this offer will expire in 24 hours and then you wait for, if it’s 24 hours, let’s wait 12 hours. The last email is number three, saying like, “The last chance to get discount”. Okay So, okay. So, we have those three emails. So, this is very simple, abandoned cart strategy but this is what almost all E-commerce stores use and if you still don’t have it I highly recommend. If it’s makes sense for you to do or not, I’ll show you a few numbers from some of our clients. This is one of our accounts. As you can see, they make close to 1 million per month and abandoned cart is the third best performing flow, which is responsible for 6% of their income from all automations, which is good chunk of money. So here’s another client and they’re making close to like 220,000 a month. And as you can see, this is one of the best performing, the best performing flow. And it’s responsible for 3.7% of the total of revenue, which is another good chunk of money. So, if you still thinking, shouldn’t do or not? You can see from those two examples that you can convert additional customer, which you thought are lost. Okay. So let’s go step further. So, we were just talking about emails. If we go back to Neil’s video, as you can see, in addition to emails, he collected address and phone number. So let’s start from the phone number because it’s much easier and much cheaper. So they started checkout for a horse, email number one. Email is the most, the cheapest way to communicate with your customers. So I highly recommend to start from here. But let’s say you wait one day, and let’s assume ,let’s put condition they did not open email number one. Okay. So let’s put condition. So, if they did not open email number one, it means it went to, like typically, it went to spam or somewhere else, or maybe they are not opening emails. We’ll still send them email number two. But, if they did not open email, number one, what we want to do, we want to send them SMS, number one, follow up and reminder. So, now we’re using different communication channel, which is SMS and with SMS you can do the same thing, but like in this SMS I would recommend to do something like, “Hey, we sent you email, but you did not open. “So here is what you left in your cart”. And yeah, but keep in mind, this is a text message. It has to be very short. I’m just giving you ideas, what to include in that. Okay. And the last, the last thing to our advanced strategy, let’s say they did not buy. Let’s say they did not convert. What I highly recommend for you to do again, it’s depends on your budget, but I showing you all options, which you can do. But, with abandoned cart there was data that you collecting during the checkout process and how to leverage it. So, if they did not convert wait like seven days and send them, what can we send? Different media? Different marketing channel is snail mail, which is direct mail. And it’s up to you, which message to include. You can mention, you can mention what they left in their cart. However, it will be not relevant anymore, or you can pitch them other products that you have in your store. But from one checkout page, you’re collecting three pieces of data for three different marketing channels. So, this is example of advanced cart abandoned strategy. If you have any additional questions for these strategies, please leave them below under this video. I will be checking them and responding.