The shift from brick-and-mortar retail to eCommerce brings with it an inherent problem with cart abandonment. You do all of the work to capture buyer intent and bring them into your site only to have customers leave the site without completing an order.
Despite the year-round challenges with cart abandonment, retailers have reason to rejoice—it’s just about time for the holiday shopping season! This is the time of year that eCommerce companies see a sunstantial spike in revenue—but only if they can keep cart abandonment issues to a minimum.
Cart abandonment issues are amplified during the hectic holiday shopping season. In fact, 85% of online holiday shoppers admit to having abandoned a cart at least once. eCommerce companies need an answer for these problems.
Follow-Up Emails—The Classic Approach to Cart Abandonment Issues
Conventional eCommerce wisdom would have retailers send out abandoned cart emails as a means to optimize conversions. Back in 2013, research showed that 75% of those who abandoned carts intended to return to finish the purchase, which is why these follow-up emails worked. But this approach may no longer be enough.
There is more noise than ever in the eCommerce landscape, giving consumers more options to find their products elsewhere if your site loads slowly or if there are fulfillment errors. Because of this increased competition, abandoned cart emails may not convert as well as years past.
This isn’t to say that you shouldn’t send abandoned cart emails, just that you should do more to resolve cart abandonment issues. For example, gathering more customer experience data can help you send other messages such as post-purchase or for abandoned search.
These reactive conversion optimization techniques are important, but setting yourself apart from the competition through customer experience this holiday season will require a more proactive approach.
Customer Experience Analytics—Rudolph Shines Light on Earned Revenue
Cart abandonment during the holiday shopping season means you’re missing out on revenue that you’ve earned. Follow-up emails are one thing, but you need to know what’s causing the friction and to mitigate the issues so that future customers don’t experience the same thing.
Leveraging big data and machine learning is essential for eCommerce companies looking to be proactive about customer experience issues this holiday shopping season. Implementing a customer experience analytics solution rooted in big data and machine learning can provide data about specific customer journeys and the friction that ends them. With this information at hand, retailers can:
- Discover the specific pipeline of undisclosed revenue opportunities in customer journey data.
- Monetize these opportunities to understand which are having the biggest impact on your holiday shopping revenue so you can prioritize accordingly.
- Optimize these opportunities with improved retargeting and remarketing efforts that enable real-time personalization that is more effective than simple follow-up emails.
The key here is to understand the specific customer experience struggle points that are keeping the consumers you’ve attracted from finishing their purchases. eCommerce companies of all kinds face similar customer experience challenges—just to varying degrees.
If you want to learn more about the different customer experience challenges that can impact your bottom line, download our free ebook, Retail eCommerce: Optimizing the Customer Journey During the Holiday Season and Throughout the Year.