Using Advanced Site Retargeting to Combat Shopping Cart Abandonment
A recent eMarketer report took a deep dive into shopping cart abandonment, analyzing why 6 in 10 shoppers abandon their online carts, and what retailers can do to combat the behavior.
In studying the high rate of abandonment, eMarketer argues that retailers need to rethink the role that the shopping cart plays in light of this new data:
“While shopping cart abandonment rate is a meaningful conversion metric, it can be misused because it fails to consider the online shopping cart in the greater purchase path. Consumers may use the cart to compare online prices and shipping rates, or treat their cart as an ongoing shopping list, ultimately converting in-store.”
One of the recommendations made was that “retailers should investigate ways to reach out to cart abandoners and give them a good reason to recover their cart.” Certainly, they should. For every reason that shoppers gave for abandoning their cart, there’s a retargeting solution to bring them back to the point of purchase.
For each reason listed above, you can adjust the message when you retarget the user with display ads to bring them back. For example, if shoppers abandon their carts because of the total shipping costs — the common thread we see here — a retargeted ad can offer free shipping. Or, if a shopper was not quite ready to make a purchase, the retargeted ad could offer a 10% discount to compel him to pull the trigger.
Shopping cart abandonment may be a common reality of online shopping, but that doesn't mean that retailers are powerless. Retargeted ads are a potent tool for pulling shoppers back to the point of purchase.
If you're interested in Chango's Site Retargeting solutions, click here.