{"id":4571,"date":"2019-07-04T10:41:35","date_gmt":"2019-07-04T00:41:35","guid":{"rendered":"https:\/\/www.smartrmail.com\/blog\/?p=4571"},"modified":"2019-11-14T15:31:20","modified_gmt":"2019-11-14T04:31:20","slug":"improve-your-abandoned-cart-conversion-rate","status":"publish","type":"post","link":"https:\/\/www.smartrmail.com\/blog\/improve-your-abandoned-cart-conversion-rate\/","title":{"rendered":"Improve Your Abandoned Cart Conversion Rate with Email & Social"},"content":{"rendered":"\n

They say Olympians who come in third are happier than those who place second. <\/p>\n\n\n\n

Sounds weird, right? But it makes sense.  <\/p>\n\n\n\n

Coming in second is so close to winning. Those athletes will forever question themselves thinking \u201cwhat if I just\u2026\u201d. <\/p>\n\n\n\n

But the athlete in third, well, they\u2019re just happy to place and get a medal. <\/p>\n\n\n\n

The funny thing is, there\u2019s a very similar instance of this in ecommerce.  <\/p>\n\n\n\n

When you first start out you\u2019re happy with the smallest of successes. Be it a minor traffic bump, your first 1, 10, or 100 sales, or maybe that first big cross-promo. <\/p>\n\n\n\n

But as you grow, being moderately successful isn\u2019t enough. <\/p>\n\n\n\n

You stop comparing yourself to the guys who make $1,000 – $10,000 \/ month and start shooting for the big leagues. <\/p>\n\n\n\n

You start to see yourself at the head of a 7 or 8-figure store. The gold medal place. <\/em><\/p>\n\n\n\n

I\u2019ve seen it time and again. These store owners are more successful than 80% of ecommerce brands, but they\u2019re also much less happy. <\/p>\n\n\n\n

The question is, what is it you can do to help you generate more revenue? What\u2019s the secret big stores have that help them grow to 7 and 8-figures per year? <\/p>\n\n\n\n

While an Olympian is going to have to train like a MoFo for the next 4 years, you can start making up lost ground and gunning for that gold medal 7-figure+ store today. <\/p>\n\n\n\n

Why Most Stores Never Get Gold<\/h2>\n\n\n\n

Some athletes just don\u2019t have what it takes to get gold. <\/p>\n\n\n\n

Not the case with ecommerce. <\/p>\n\n\n\n

Every store can grow to become massively profitable. And honestly, most stores can see a decent increase to their bottom line by the end of the week. <\/p>\n\n\n\n

How? <\/p>\n\n\n\n

By recapturing the ~80% of carts that are abandoned. <\/p>\n\n\n\n

I won\u2019t bore you by going over the stats you, I, and every other commerce professional knows inside out and back to front in detail. But they do bear repeating.  <\/p>\n\n\n\n

SaleCycle\u2019s 2018 report<\/a> has cart abandonment reaching as high as 81%, with the average hovering around the 75% mark. <\/p>\n\n\n\n

\"cart<\/figure><\/div>\n\n\n\n

Out of every $5 that\u2019s added to a cart on your store, only $1 makes it to your bank account. <\/em><\/p>\n\n\n\n

Crazy, right? <\/p>\n\n\n\n

That massive abandonment rate costs the industry $2-4 trillion<\/a> per year in lost revenue. That\u2019s trillion, with a T<\/em><\/strong>. <\/p>\n\n\n\n

And not tackling it is why so many stores hit a revenue plateau early on. <\/p>\n\n\n\n

The weirdest thing is, this isn\u2019t a secret. We all know this is a big problem. <\/p>\n\n\n\n

And, with the best of intentions, we all worked out what was causing the abandonment rate. <\/p>\n\n\n\n

\"abandoned<\/figure><\/div>\n\n\n\n

According to various studies, the main reason people abandon is because they were \u201cjust looking\u201d. <\/p>\n\n\n\n

I\u2019m not saying the studies are wrong. I am, however, saying that the focus is wrong. <\/p>\n\n\n\n

We\u2019ve been seeing these studies for years now. Each one advising the same advice and outlining the same reasons for abandonment. <\/p>\n\n\n\n

And yet, even after implementing the most logical fixes, the abandonment rate keeps on growing<\/a>. <\/p>\n\n\n\n

\"average<\/figure><\/div>\n\n\n\n

The advice isn\u2019t working. We have to go right back to customer action to figure out why abandonment is so high. <\/p>\n\n\n\n

The focus of the advice we\u2019ve been following is wrong. Everyone is focusing on pricing, free shipping and other similar actions to \u201csweeten the deal\u201d. <\/p>\n\n\n\n

These were effective once. But very few brands aren\u2019t doing this now. Meaning that offering a discount like free shipping is no longer a benefit but an expectation. <\/p>\n\n\n\n

If you look at the online actions of most customers, the reason they don\u2019t check out is because they\u2019re distracted. <\/p>\n\n\n\n

Let\u2019s put it in real terms. <\/p>\n\n\n\n

You\u2019re looking for a new cushion set for your living room and sift through multiple designs, colors, sets, and sizes; <\/p>\n\n\n\n

You see one set you like, so you add it to cart to save it for later. <\/p>\n\n\n\n

But, you just want to make sure there\u2019s nothing better out there so you head back to the main cushion page. <\/p>\n\n\n\n

Here\u2019s where it goes sideways. <\/p>\n\n\n\n

You get distracted and pulled away from your search. It could be thanks to: <\/p>\n\n\n\n