When customers are shopping in a brick-and-mortar store, they’ll generally purchase the items they put in their shopping carts. However, it couldn’t be more different for online stores.
What is the average conversion rate for cart abandonment?
The sad truth is that the majority of your shoppers will leave your retail site after putting items in their carts without making a purchase.
This may look like a daunting number, but don’t get discouraged. It’s happening to everyone, and these shoppers can be won back with cart abandonment emails.
Those customers aren’t necessarily gone forever
When a customer goes through the effort of adding something to their online shopping cart, it means, at one point, they were considering making a purchase. There was just something that was preventing them from going through with it. Sometimes, all they need is a gentle nudge to make them reconsider.
Retailers have been successful using cart abandonment emails to re-engage with these customers and remind them to complete their purchase. This success can be attributed to the fact that they are sending to a highly engaged audience and the content of the email is timely, dynamic, and highly personalized, focusing on a specific product and unique messaging for all contacts.
These factors are a recipe for success for email marketers.
Cart abandonment emails have a greater than 10% purchase rate.
There’s strength in numbers
Even with a 10% conversion rate, that means there are still 9 out of 10 people who don’t go back to finish their purchase after an email reminder. You will increase the odds if you send a follow-up email or two. Research shows that three cart abandonment emails brought in 69% more revenue than a single email.
At the same time, it’s important to know when to cut your losses. If you email a shopper more than three times, you’re more likely to become overwhelming.
How to measure conversion rates for cart abandonment
Cart abandonment emails are incredibly personalized but, in the end, you will measure them just like any other email in your digital marketing strategy. Your ESP dashboard will provide you visibility into the key metrics you should be tracking.
You’ll want to pay extra attention to the open rate, click-through rate, and click-to-open rate for these emails. You already know that the conversion rate for cart abandonment emails is more than 10%. That means you can also expect to see a higher open rate and click-through rate compared to traditional marketing messages.
Does it really matter?
Knowing your average conversion rate for cart abandonment can tell you a lot about your customers’ attitudes toward your products and store. If your cart abandonment conversion rate is low, it could be a problem with your email marketing, but it could also be a problem with the purchasing process or shipping methods on your website.
If customers are engaged enough to take the first steps toward buying one of your products but then overwhelmingly refuse to complete the transaction even after being sent a reminder email, it means something is wrong. If this trend continues, it’s worth looking into your checkout procedures to see if there’s anything that can be done to make it easier or more pleasing for your customers.
Learning about the average conversion rate for cart abandonment helps determine whether your efforts to re-engage with your shoppers are successful. If your conversion rate is higher, you’re doing something right.
However, if you aren’t getting a purchase for every 10 emails you send, then you need to look at your email to determine what could be fixed.