How to Reduce Abandoned Carts

Dear Reader, 

Supporting clients in e-commerce puts in the front lines of data; therefore, I see accounts with 2000+ adds to cart in a month but only 300 purchases. Nothing is more frustrating than knowing you have the inventory and shipping capabilities, but the purchases aren't coming in. If you're a coach or course creator, the same applies to you. Somewhere along the checkout funnel, something happened that reduced your chances of having a more profitable month. 😓

Earlier last week, I received these metrics from Meta. 😳 I invite you to audit your systems and see if any of these apply to your business. If any of these resonate with your website/checkout process, I'd be relieved because you have something to work with! Identifying with these reasons means you have changes and improvements to enjoy! 

What to do about it: In addition to making these changes to your processes, you can also run abandoned cart Facebook/Instagram ads to re-engage those who left their items in their carts! I've noticed that a small discount makes a huge difference in conversion rates. 

What to do about it! 

Segment customers: Using your email marketing software (Klaviyo, Omnisend, Mailchimp, Active Campaign, etc.), group people who have visited the website at least 3 times and initiated checkout! Send them a discount outside the abandoned cart, and let them know the discount, which will be a bit higher, expires in 1 hour! For instance, if you typically give 10% off, try giving them 15% off.

Share reviews: Social proof is a huge asset in increasing trust with your audience. Please show them your customer reviews and UGC (user-generated content), and promote your reviews with email marketing, stories, posts, etc. If you have reviews, you can monetize that customer endorsement too.

Use multiple payment options: Think like a consumer! You won't place the order if you have to stop your shopping experience to get your payment method. Your audience will most likely purchase when they can use PayPal, Apple Pay, Shop Now, pay later options, Google Pay, etc.

Make it easy to place the order!

Use exit-intent pop-ups: Pop-ups remain effective because they can tell when someone is about to exit, and offering them an incentive to complete the purchase will increase your conversion rate.

Use behavior-trigger automation: Abandoned cart emails remain effective; however, browse abandonment and other behavior-triggered automation are far more effective than standard automation. Rely on these strategies, which sometimes will require you to pay a bit more, but they are 100% worth it. 

I'm entering my 7th year of digital agency ownership, and during this time, I've had great colleagues who have become close friends and collaborators. I have also met colleagues who, in simple terms, are shady and have built thriving agencies on fear-mongering.

Here are some of the most notable lies you'll hear from particular type of agencies:

👉 Guarantee ROAS; nope! Every account is different, and so much more goes into ad success than signing up for an expensive retainer fee, which typically starts at $3K USD.

👉 Posting doesn't matter; invest more: It does, and it will matter because when your social media pages lack content, reach, and engagement, your ads become more expensive.

👉 The more you invest, the more you earn—another lie that will drain your bank account. I never recommend re-investing or increasing your budget by more than 10-15% at a time. Investing too much too soon will guarantee your ads will fail; I've seen it over and over again.

👉 You need an agency to have successful ads: Not that I want to drive myself out of a job, but I'm a big advocate of teaching fellow business owners to do their ads. Knowledge is power. My clients typically don't have time to do their ads or are not interested, but trust me, you can gain that knowledge, too!

👉 Lastly, it's the algorithm: Only Meta knows how it works. Shady people lacking true knowledge will preach the algorithm's secrets. Meta is excellent at telling us what works, but anyone preaching they have a secret to the almighty algorithm is lying. Meta's algorithm is how the company makes money. Do you think they would let anyone know their deep secrets to money making?

#THEMOREYOU KNOW

Cheers, 

Nadia 🥂