Blog > How to Utilise Abandoned Basket Insight to Recover Lost Sales
Posted By Tara Rickard
Putting items into a shopping basket doesn’t always lead to a sale when it comes to ecommerce. Want to recover those lost sales opportunities and re-engage customers? With the ability to identify previously unknown opportunities, you could start boosting your site's revenue right away.
The much anticipated Abandoned Basket tool has launched and can help you today- start using it now, there’s data waiting for you already!
What Is It?
An “abandoned basket” commonly refers to online shopping activity, where a shopper adds an item to their basket and then leaves it behind without committing to a purchase. This is extremely common behaviour with ecommerce sites with 68.63% being the average online basket abandonment rate. Read more about this in our previous blog post "Boost Sales With Our New Abandoned Basket Tool".
The Create team have been working hard behind the scenes to design and develop a tool to provide you with advanced insight. You can then use this to make changes and combat abandonment. Start taking advantage of those opportunities, just like any other lead, and you could start turning a shopper's intent into a final purchase.
Use this tool to discover your shop’s abandonment rate, delve deeper into each shopper’s basket activity and begin engaging with your customers throughout their purchase journey with your very own customised email.
How Does It Work?
When a potential customer adds an item to the basket in your online shop, but doesn’t get as far as completing the order, we’ll store information about this activity for you and any shopper contact information they have provided.
Depending on your Create package, the Abandoned Basket has 3 key areas; the Dashboard, Reports and Email Customisation.
Dashboard (packages Shop Builder, Shop Builder Pro and Shop Builder Advanced)
Instantly gain a clear overview of the abandonment activity. Discover your cart abandon rate filtered by a selected period of time – see exactly how many have been abandoned and what this means as a percentage for you. Carry out a side by side analysis, allowing you to see the before and after effects of your recovery strategy.
Reports (packages Shop Builder, Shop Builder Pro and Shop Builder Advanced)
Use the Reports area to find information about each individual basket such as; abandon time and date, order value, detailed product information within the basket contents and the basket's recovery status. Use this information to determine patterns and define your recovery strategy.
Email Customisation (Shop Builder Pro and Shop Builder Advanced)
Send an automatic email to entice customers back, the friendly reminder includes a link back to their basket, and can be customised to make it your own. Adding a personal touch or even a little incentive can go a long way - according to Aberdeen Group, "personalised emails improve click-through rates by 14%, and conversion rates by 10%"!
Why Should I Use It?
You should start combining the Abandoned Basket tool alongside your conversion strategy to boost your sales and recover previously lost revenue. We've spent time developing the tool to ensure it meets the needs of it's users, with merchants evaluating the features over the last few months and we've seen some staggering and exciting results!
Those using the abandoned basket tool saw over 10% in recovered revenue. This meant that these users collectively recovered revenue worth £115,000 in four months! This large number has been linked to the fact that consumers tend to spend more when retrieving their order.
We found that those customers coming back and recovering their baskets spent considerably more on their purchase. These returning shoppers raised the average order value up to 90% more than customers who didn't come back through a shop with the Abandoned Basket tool.
These positive findings are hugely interesting and we will continue to capture more following today's launch.
Don’t panic. It can be frustrating to think that you have spent precious time creating the perfect website for your visitors and then they drop off at the checkout, but you should know that cart abandonment is a well known part of the shopping journey with ecommerce. There are universal and well researched reasons for leaving a shopping basket online. The good news is that many of these fundamental causes are easily combated.
By understanding your own shop’s abandon activity you can start to implement a recovery strategy; discover any hurdles in your checkout flow, engage with potential shoppers and ultimately boost sales. Compare your abandon rate to the industry average, and treat each one as you would any other potential lead – they needn’t be lost!
Want to check out your shop's abandonment rate and what sales you could be recovering? Head straight to the Abandoned Basket Dashboard in your account using the Dashboard HelpCentre guide.
Keep a look out for future posts on actions you can take to further improve your abandonment rate, and, as always, if you have any tips or ideas you've found work well please do share them in the comments below.