With over twenty years of experience and two successful companies behind him, we've always known our CEO and co-founder James Critchley as a real expert in his field. His status as industry leader was confirmed today when he was published as a guest blogger for influential digital marketing site Econsultancy.
We all know cart abandonment is a key issue for online businesses, with 70% of the British population admitting to abandoning baskets regularly.
As an experiment, we decided to look at the most successful ecommerce sites and abandon some baskets of our own. We assumed these businesses would be be using cart abandonment tools in the most intelligent way.
To find out whether we were right or not check out James' blog post on Econsultancy in full here.
Creating consumer urgency is imperative for online retailing success as it gets the customer wanting to come back for more (repeat buyers). It also shouldn’t just be a seasonal treat for online retailers and likewise their consumers. Though these are the peak times and arguably the best times to use some of the tactics I will discuss, they can be used any time of the year, however the effect will vary industry-to-industry.
So lets identify the answer to our first question and that is: why exactly do ecommerce retailers need to create some sort of customer urgency on their site?
Back in June last year, at World Wide Developers Conference (WWDC) in San Francisco we saw the launch of Apple’s latest mobile operating software iOS7 which showcased to the world that Apple still had new ideas and thoughts under it’s sleeve despite recent decline in market share to Samsung. One thing that a lot of people were actually oblivious to is that Apple was set to launch their very own iBeacons in conjunction with this new mobile operating system.
It would be an ecommerce managers heaven to see customer baskets full to the brink with items and likewise AOV’s increasing year-upon-year. But when it comes to getting customers to increase how much they spend on their site, a lot of the time it can cause a real head scratch over what tactic(s) they should use and which would actually deliver a substantial amount of ROI for their business.
Of course, there are an abundance of reasons why your business would like to increase their AOV. The first is a no brainer and that’s to simply increase revenue, but looking beyond that, if you wanted to acquire more traffic to your site that would come at a cost right? However, simply adding a plug-in to your online site, can help to achieve higher sales at what cost? - Little to none in fact.