Retailers must adopt a cart recovery strategy
New research by cloud.IQ shows web window shoppers welcome follow up emails after browsing online stores
Our independent survey revealed that 88% of people say they are open to online retailers following up by email after they abandon an online purchase and over a third (35%) say they actively welcome the assistance.
Having said that, most online retailers fail to stay in touch and instead remain focused on simply acquiring new visitors. Research by Forrester shows that for every £100 organisations spend getting customers to a website, only £1 goes into converting them.
Our research shows that adopting a ‘cart recovery’ strategy – offering assistance to visitors who leave your site by following up with well-timed and helpful emails - will convert one in five people into paying customers.
With seven in ten UK internet shoppers abandoning websites prior to purchase, retailers are missing a huge opportunity to grow their revenues.
It’s natural consumer behaviour to window shop before buying and it’s even easier to do this on the web, where the next store is just a click away. But whilst bricks and mortar retailers can’t chase consumers down the street after they leave a store, it is possible to re-engage people online in a more subtle way.
This research shows that a well-targeted follow up can make the difference between a sale and a fail for retailers.
A company that has seen the benefits of this approach is SealSkinz, which specialises in waterproof socks, gloves and hats. By instigating a cart recovery strategy it now gets between 10 and 25% of all its revenue by re-marketing to people who have abandoned carts.
We are offering a free audit to find out how much you may be losing. If you have an e-commerce site do you want to find out how to drive additional revenues from traffic that you are already driving to your site please let us know here.