The pain of abandoned cart affects both small and large business alike. But it’s only at scale that the pain truly intensifies. Let’s say your site brings in 25,000 visitors per month, your average order value is $100, and your visitor-to-sale conversion rate is 0.72%. If you increase your conversion rate by 0.5%, you’d add an extra $12, 500 every month. Cumulatively, that’s an extra $150, 000 every year.
14 Ways To Stop Losing Money On Cart Abandonment
on Facebook ?
Check Out Your Cart Abandonment Rate
To see what is your abandoned cart number, go to Google Analytics→Conversions→E-commerce→Shopping Behavior. Choose a one month period to analyze.
Pro Tip: You’ll be able to see this report only if you previously set up E-commerce conversions for your online business.
You will see your purchase funnel and the percentage of people dropping off at each stage. In the example above it is 47.91% for cart abandonment and 91.58% for check-out abandonment. The conversion rate is only 0.17%.
For this blog post, I decided to focus on your website and Facebook dynamic ads tactics, as I believe that these two are most handy in recovering your abandoned carts.
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According to Baymard Institute, the main reasons for cart abandonment are:
Have you tried exit polls on your site? Short clear questions won’t frighten them and will help you understand why they are leaving your website. There are plenty of tools for Shopify, Magento, and others, but there are some important points:
Form
Make sure you don’t ask too much. Make your form as simple as possible.
Controls
Your form should pop up when visitors start to leave or when they move their mouse into the address bar. It must be active for new visitors only.
Submission
Many apps will send you answers directly to your email, but I would suggest you choose Google Forms for answers. It will be easier for you to collect them in one place, analyze, and share with colleagues.
Reason #1 is shipping. Your extra costs can be too high for them. If you can’t deliver for free try increasing your margins to cover shipping costs.
To know for sure whether shipping cost is a real issue for your conversion rate, experiment with a 2 Day Free Shipping campaign.
Send them an email announcing your promotion and share it on Facebook.
Another way to experiment with shipping is to offer it for free when they make a purchase over a specific amount. Make sure to support this offer all over your website, emails, and social.
Another popular abandonment issue is your Returns Policy. Display the information for returns perhaps include testimonials of client satisfaction.
Rewarding your customers with promo codes are a surefire way to keep them coming back for more. If they end up at your checkout page and see a discount code section, chances are they will feel annoyed that they are not “VIP” enough to have received a code from you. And cart abandonment becomes very high.
If you don’t offer coupon or vouchers, make sure your checkout page doesn’t ask them to enter a special code.
Offer them a 10% coupon in your welcome email or as a pop up upon entering your site as a gesture of gratitude. Remind them about the discount as they scroll through your site to push sales right to the check out page.
It is not easy inviting people to create an account on your website. Choose a wishlist instead. It’s not that pushy and they don’t want to lose all the items from the list they saved. With many apps, you can send reminders about the products they left on your website.
Encourage them to click on wish hearts, it only helps show how popular your products are.
They Research To Buy Later
Another reason is “Browser Shoppers”. These shoppers are the ones who come to your site for discounts or to compare prices from other sites. Facebook Dynamic Ads are the best way to remind them about the products they saw on your website.
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People are more likely to interact with something familiar than something completely new. That means that in a crowd of unknown ads and other types of content, people’s attention is aroused and automatically drawn to things they already recognize. By showing ads with products visitors were previously interested in, you have a better chance of grabbing their attention. Facebook dynamic retargeting ads are a type of ad that automatically shows products people have previously viewed, which make these ads especially relevant and efficient.
Some people abandon their carts simply because they change their mind or want to see if there’s a better offer around. Some online shoppers admit they have left their shopping cart behind due to a change of mind. Others have dropped out of the checkout because they’ve found a better deal elsewhere. Show your discounts.
While they are choosing between you and your competitor, let them know why they should buy from you: shipping details, returns policy etc.
Rev up your clients with Hot Deals! Highlight the exclusivity of the DEAL – this is shopping 101. When your client feels special, he/she will more likely make a purchase.
Spell out the advantages and benefits they can receive with your product by creating posts that get them out of their comfort zones. Make them imagine another way of life – aren’t we all seeking adventure in our lives?
You should already have your Facebook Pixel installed and tracking your website traffic and basic website events, like purchases. With Facebook Pixel installed, it’s easy for you to remind your potential clients about products they are interested in. The strategy below outlines a process through which each of your visitors is retargeted for 7 days since their last visit. The messaging changes per day so as to come across too salesy.
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To run Facebook Dynamic Retargeting Ads, you must first upload your product catalog:
Step 1: Go to your Facebook Ads account, click on ☰ and Catalogue under Assets
Step 2: Click ”Create a Catalog”
Step 3: Select Your Catalogue Type
Step 4: Click ”Add Products” & download the .CSV template
Step 1: Go to ☰
Step 2: Choose Audiences
Step 3: Choose Create A Custom Audience → Website traffic → Choose All website visitors in the past 7 days.
Step 1: Go to your Ads Manager → Create Campaign
Step 2: Choose ”Product Catalog Sales” as your marketing objective (if you have previously created your product catalog on Facebook; alternatively, choose ”Conversions” as your marketing objective.)
Under the Audience section, choose to include your last 7-days visitors and exclude your recent purchasers.
After setting the rest of your targeting parameters, such as location, sex and age, continue on and create your ads.
Now that we’ve outlined all the strategies needed to create an effective cart abandonment strategy, we wish you tons of sales. There are many ways to allure your customers back to their cart and to your site. Go ahead and try all of the above until you find the perfect method for your client. Remember never to be too pushy as shoppers are savvier than ever. But once you find the right strategy, they will be loyal for a long while.
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