To increase sales by 15-30% – this is the obvious answer. But not only.
Growing profits without scaling infrastructure.
If the store is underutilized, logistics are idle, the return of customers will help increase efficiency without additional direct costs for the main activity. If so many return that it is necessary vp security email lists to scale up, then this is even better for the business.
Identifying technical problems.
Leaving customers can signal, among other things, failures in the purchase process. A button that cannot be pressed, a captcha that cannot be passed, a script that allows the entry of incorrect data and crashes – these are just a small part of the possible failures.
Improving user experience.
If a customer leaves, it means he doesn’t like something.
Buy from yourself and compare the process with traffic quality and conversion rate competitors. If yours is more complicated, you lose customers
Price adjustment.
Buyers may leave because prices are too high. But no one should sell at a loss – so perhaps it’s worth offering interest-free installments or another marketing magnet that will make the buyer stay and buy. Even at a higher price.
Adjustment of the product range.
If the buyer added the product to the cart but did not executive list buy it, that’s one thing. If the products were not added to them at all, then there is no need to freeze money in them.
But it’s not that simple. You can’t just throw away products mindlessly – often a buyer comes for one thing and buys something else.
Abandoned cart rate is an important metric to track, but it’s not the only one. But it shouldn’t be neglected either. Comprehensive analysis allows you to develop and change your store’s overall marketing strategy.
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How to Calculate Cart Abandonment Rate
To calculate your cart abandonment rate, use the formula:
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If out of 1000 created baskets only 300 were paid for, then 70% of potential purchases were abandoned.
This indicator should be compared with the average in your market segment. If there are several segments, then the percentage of baskets should be calculated and analyzed for each of them separately.
The basis of the analysis is Google Analytics and Yandex.Metrica. They also show abandoned carts. Set up goals and a sales funnel and see what’s going on: