Losing a sales opportunity is always disappointing for skilled salespeople, no matter how long you’ve been an eCommerce store on Shopify. However, one could argue that there is a lot of good from a squandered sale.
Almost 88 percent of online shopping carts are abandoned before a sale is completed. Unfortunately, that means your sales figures could be a fraction of what they could be.
Probably, you won’t be able to persuade all of your cart abandoners to complete the checkout process and treble your revenue. It’s possible that some buyers never intended to buy in the first place. However, it’s worthwhile to make an effort to eliminate as many lingering doubts as possible.
This post will look at why losing a transaction can sometimes benefit your sales pipeline on Shopify. You’ll have the best bounce back in no time, from how we can utilize it as a barometer for our success to how it can lead to additional sales!
1- Use ReTargetting and ReMarketing
Let’s face it; you don’t just see a product on social media and immediately run out and buy it in a Shopify store. You’re not sure if the goods are good, if you’re buying on impulse or need the stuff, and you want to consider your other possibilities. However, after you leave a store, there’s a good chance you won’t return – you might forget the brand’s name or even where you saw the merchandise.
You won’t be able to boost your eCommerce conversion rate unless you re-engage this interested shopper.
Set up retargeting advertisements on search engines and social media to remind shoppers of what they’ve forgotten about. You may be following them after they leave your site, but this is the only method to enhance brand recall and re-engage them to get them to return.
Your retargeting advertising could provide an additional discount or even suggest products from a related line to these customers. But, again, the goal is to keep the shopper interested in your brand before they forget about it or lose interest in the goods they are planning to buy.
2- Use back in stock emails
So, how can you prevent this sale from going to your competitor? Use back-in-stock notice emails as a solution. A case study by Marketing Sherpa revealed that one retailer’s back-in-stock email reminders resulted in a conversion rate of over 22%. This is a 22 percent boost in sales that would have otherwise gone to a competitor. In addition, there’s a huge number of back-in-stock apps for Shopify to help you.
What’s New with Stock Emails? When an item is out of supply, the goal is to inform the customer that the item is out of stock and that’s it. Why not ask them to provide their email address so that you may notify them when this item is back in stock? You know that this buyer has high purchase intent and when/if this item will be back in stock. After you’ve gathered the clients’ email addresses, you may move on to the next step.
- Send the consumer an email with information about similar products in stock and a special percentage off coupon to sweeten the deal to buy an alternative product similar to the one out of stock.
- When the item is restocked, please send an email to the client informing them of the restocking and, of course, don’t forget to give them a discount coupon as a thank you for their patience.
Abandoned cart emails are critical for increasing sales, whether you’re an eCommerce marketer or an online business owner. Given the high average shopping cart abandonment rate, they are simple to put up and should be something that everyone does. Take notes from the experts above and get started regaining sales right away. If you’re using Shopify, you could use some apps like Restock Alerts by Hengam.
3- Make your offers and discounts easily accessible
A normal internet retailer attracts various customers, but the most popular is the price-conscious shopper. Affluent customers, according to Fashion United, are price-driven and discount-driven. According to the poll, 42% of affluent buyers usually shop at bargain stores. However, only 27% of respondents said they shopped at full-price stores, and 36% said their discount shopping has increased over time.
So, one of the most prevalent and obvious reasons for your store’s low eCommerce conversion rate is that your deals aren’t visible or easy to find. You can’t expect a consumer to find the items they want to buy and then look for coupons afterward. Instead, they want to make a purchase right away, and they want it done quickly.
Converting price-conscious customers can be done in two ways.
One method is to use a promotional banner on your home page, a static bar banner across all of your sites, and a time-sensitive or exit-intent popup at checkout to make sure your coupons and discounts are visible. Hello Bar, OptinMonster, OptiMonk, and WooHoo are all excellent solutions for this.
While these strategies have been shown to enhance eCommerce conversion rates, they also make your discount coupons available to all visitors to your store, including those who aren’t pricing sensitive. That’s when the second strategy kicks in
4- Make sure your product pages are interactive
Gone are the days when high-resolution product photos were sufficient to convert all types of customers. Instead, the modern buyer expects your store to recognize their desire to make an educated purchase.
When we say “informed,” we don’t just mean adding product photographs from every angle. It entails devoting sufficient time to crafting product descriptions that clearly explain why and how the product can (or should) be utilized and adding depth to product pictures.
Invest in movies that provide shoppers a 360-degree perspective of the goods in addition to product photographs. Increase your eCommerce conversion rate by adding 3D models to your product pages, making them more interactive and engaging. For example, Webrotate 360 allows you to produce interactive 3D CAD and 360 product photography in minutes. 3D technology is a must-have for eCommerce today, according to VentureBeat.
5- Offer Shopping assistance
What is your favorite aspect of going shopping? The ability to test the product you’re interested in and seek assistance if necessary. Even the jittery salespeople we encounter in stores might be a blessing while browsing for things. But unfortunately, that’s exactly what an online business lacks, and it’s one of the reasons for the low eCommerce conversion rate.
We already know that you can’t be physically present when an internet customer is shopping. We also understand that being online at all times is nearly impossible. But, on the other hand, you assist the consumer when they require assistance.
Utilize Facebook Messenger marketing and implement a live chat function. The two platforms assist you in engaging interested buyers by providing timely assistance and relevant information. But, whether it’s emailing them a size guide, they can’t find or assist them in finding a product that complements the one they’re buying. Offering brick-and-mortar-style shopping assistance will help you boost your eCommerce conversion rate while also raising your average order value.
Freshdesk, Flashchat, Octane AI, and Tidio are just a few examples of solutions to help you quickly set this up. In addition, they can be utilized to set up consumer engagement and cart recovery efforts that will enhance your revenue and provide support.
6- Identifying and removing distractions
Today’s retailers must recognize that shoppers are interested in more than simply the deals. Of course, some individuals value experience over discounts, but some would welcome a discount on a purchase they are about to make. Most significantly, shops must make ‘easy shopping’ possible by providing a nice on-site experience.
This is where data and technology play a role.
It’s time for businesses to look beyond the overall demographics to determine who their customers are, discover their buying habits, and optimize their conversion strategy with smart technology.
While you can’t do much about the distractions near the consumer – such as needing to dash out for duty or being summoned to work – you can certainly eliminate the online distractions. This allows them to concentrate on one task at a time – finishing the purchase – but it also prevents them from walking to a competitor’s store.
You may filter out distractions in real-time by actively identifying malware strains pushed by online apps and extensions on the consumer browser.
It takes a basic understanding of who your customers are and what they desire. The higher your eCommerce conversion rate, the better you understand their wants and expectations from your brand.
For example, if you know which social media channel they are more likely to engage with your brand, you can strategize to utilize it first. Similarly, if you know a customer is seeking a discount on a product, you might launch a price reduction campaign to encourage them to buy.