Can you believe 75% of consumers abandoned their shopping carts when purchasing online?
Three out of every four people who add items to their online shopping cart will abandon the cart before completing their purchase. This is an astonishing statistic that is detrimental to any business that relies on selling products online—unless they take advantage of a remarketing campaign using Facebook.
How to remarket to your abandoned cart users using Facebook
You can remarket to users who added items to their shopping cart but did not complete the purchase with a specific message. You can do this even if you don’t have their personal contact information so long as you have some of their personal data, such as the Facebook Pixel.
To stop cart abandonment, use Facebook ads manager to create a campaign targeted to the people who visit your website and leave without making a purchase. For the conversion objective, and to build a custom audience of website visitors, select the “create new custom audience” option, then “select: create new custom audience – website.” The time frame you want to include is 90 days; make sure you are also excluding everyone who has purchased.
To increase cart recovery, you can create a special ad that reminds customers they left items in their cart. Now everyone who has added items to their cart but doesn’t complete a purchase will see an ad reminding them to check out the items in their cart before they sell out. Make sure to tell them about the items in their carts, since once they sell out, those products are gone (i.e., scarcity)! Which will help your business make a profit without spending a lot of money on advertising.
According to studies, remarketing for abandoned carts can bring you from 20 to 30 percent of those users back to your site. This can translate into hundreds or thousands of dollars in revenue.
This can even be done by using Google Analytics Enhanced eCommerce tracking, you can view your online store’s cart abandonment rate and use the google pixel to market to your audience.
How to Stop Checkout Abandonment
Your conversion rate is incredibly important, but how are you going to convince people to purchase your product instead of your competitors? The truth is people do not like to be the first to purchase a product. When people see other customers’ great experiences with your product, they will be more willing to part with their money.
For example, if you were at a location that had two ice cream shops, which one would you most likely choose to spend money at? Option A, where people are inside purchasing, and they look happy. Or option B, where there is no one inside. You would pick option A because you see other people having a great experience and you assume you are going to have the same. This is the same for your online marketplace, your website is a storefront. You need to show testimonials and reviews to get people to trust you.
How to Get More Reviews
A great way to get more reviews is by having a reward system for people when they purchase your product, they get points for when they leave a review. A great example is the women’s clothing online store Shein, where customers are incentivized to leave reviews because they will get points. The more points they have they can redeem for coupons on future purchases. If you look at these reviews on their website, you will see that products will have hundreds of reviews and that girls will write in the review itself for other girls to please like their reviews so they can get points. Because they get more points based on how well their review is being viewed online. Thus, creating a further community around your products. By using this technique, your conversion rate is going to go up.
Does Shopping Cart Abandonment influence my Online Business?
Yes and no. The great part about having an eCommerce store is that you can collect data from your audience as they interact with your website. If you’re using the Facebook pixel you will be able to retarget your audience. Which gives you a higher chance of creating a conversion, because they have already shown you that they like your product and want it. For whatever reason they chose to abandon their cart, having an already set marketing campaign to run ads to them will help you get better conversion rates.
Utilizing remarketing campaigns on Facebook can boost your overall sales significantly. Remarketing via email remains the most effective way to reengage disengaged customers. However, small businesses with limited resources will benefit enormously from utilizing Facebook ads as a means of achieving some closure on otherwise abandoned shopping carts.
The good news is that business owners can tap into Facebook’s powerful remarketing capabilities to catch and convert those who abandon their virtual shopping carts. The result is abandoning customers that can no longer leave your store undetected!
We know how important it is for any business to track its return on investment in marketing efforts. It’s also vital for these businesses to see the success of their social marketing campaigns—or adjust when needed. Remarketing powerfully works with Facebook ads, combining the effectiveness of product remarketing with the capabilities of social media marketing. Together, you’ll be able to get more customers who have added products to the shopping cart but left without completing their purchase.
Luckily, there are several inexpensive ways to capture these potential customers that make use of remarketing campaigns. If you want to squeeze every cent out of your marketing budget, then remain in front of consumers who aren’t ready to make a purchase yet. You might be surprised at how effective this can be.
