Winning back revenue from cart abandoners is one of the biggest missed opportunities in online marketing. Shoppers abandon their cart 68% of the time, presenting a strategic marketing opportunity for online retailers to win back revenue and increase overall conversion rate. Foregoing a lifecycle email strategy means leaving significant revenue on the table, so how do you capitalize on cart abandonment?
First, it’s important to identify why shoppers are abandoning their carts. According to the Baymard Institute, the top reasons for cart abandonment include shipping and tax costs, complicated checkout processes, and sites requiring the creation of an account. It is our job, as marketers, to combat these objections and work around them to win back the business of abandoned shoppers.