5 steps to plan an effective abandoned cart strategy – Ecomfit.com
1. Why is abandoned cart strategy essential?
Abandoned cart strategy is a detailed plan for reducing abandoned cart rate over a period of time.
An effective abandoned cart strategy helps e-retailers improve their position in the market and achieve what they wants.
It is important to look at some steps to plan a cart abandonment strategy.
2. 5 steps to develop a successful abandoned cart strategy
2.1 Gather the facts and analyze your business
The very first step to take is to investigate your situation and determine where you are now. Before looking ahead, e-commerce businesses should review their performance in the past. Examine what your abandoned cart rate is and why your customers drop their shopping cart
There are many tools available to help you with the analysis such as Ecomfit’s Insight Analytics, a feature that helps you understand your customers so that you can know the reasons for their abandonment, automatically track their information and give you smart suggestion for actionable decisions on how to boost sales by recovering abandoned carts.
2.2 Set objectives of the abandoned cart strategy
After your analysis, you should look ahead and think of your strategic objectives. It could be how many abandoned carts are planned to be recovered over a period of time. Also, if your abandoned cart strategy is successful, what will be your expected upcoming revenue?
Notably, your objectives should be as specific and measurable as possible. By that, your vision and desire for cart abandonment recovery can be converted into real achievements
2.3 Decide which channels to utilize
Besides using indirect channels such as Insight Analytics above, making a decision on which channels for you to directly recapture abandoned carts is also important.
- Push notification: Instant notifications such as abandoned cart emails sent to the exact customers, helping recover abandoned cart and bring customers to the site.
- Popup: Reduce the number of abandoned shopping carts and convert visitors into customers
2.4 Identify and select methods of carrying out the strategy
Decide if you can insource the tasks or need an external help.
Actually, it is more independent to fulfill the task of abandoned cart recovery by yourselves. Your business has little risk of interruption from outside.
Nonetheless, it is not always disadvantageous to achieve a goal with other companies. While insourcing gives you independence, letting other companies recapture your abandoned cart sometimes brings you more than what you can obtain. By installing external platforms or applications such as Ecomfit App, your business can access to skilled expertise, increase in-house effeciency, have better risk management and financial flexibility. Importantly, Ecomfit App makes your abandoned cart strategy more possible.
2.5 Start and manage the strategy
Last but not least, choose a proper time to start the strategy
During the operation, your business needs to have figures and facts regularly updated and enlist consultancy and cooperation from App providers.
3. Final thoughts
As long as cart abandonment exists on your site, developing an abandoned cart strategy should be a very first action to take.
By planing and pursue an abandoned cart strategy, your business can have higher chance of greater revenue and higher position in the market.