At WebEngage, one of the key pain points we solve for our customers is to reduce their bounce rate and cart abandonment. In the last 6 months, we have amassed tons of data to understand the root cause of the problem and help you solve it better.
We measure consumer psyche based on data collected on thousands of websites globally. This gives us some amazing insights into what works versus what doesn’t when it comes to conversion rate optimization on your cart/checkout page.
The #WebEngageLive series on this blog is aimed at bringing those insights to you. If you have anything to do with e-commerce or online travel, you’d find this post useful.
The Key Insight
Over 70% of users on your site abandon their carts. Depending upon your category and checkout flow on the site, a bulk of them do so anonymously. The reasons vary, but more often than not it revolves around comparative price or an alluring discount offered by your competition.
Using behaviorally targeted push messages, almost 25% of such users can be made to stay on the checkout page for a bit longer. Interestingly enough, if you present a personalized offer to such users (a real-time push, while they are still on the checkout page), you’d end up converting almost 20% more than usual.
Does That Mean Discounting?
Neither exactly nor always. The point is – loyalty needs to be rewarded and there are many ways to do it.
These are some of our observations –
- Most companies have some or the other rule based incentives for their users.
- Most of the times, users aren’t aware of these incentives because they’re not triggered at the right moment, to the right users.
- Users, therefore, bounce off the website, uninterested.
- Incentives remain unused leading to loss of potential sales.
An interesting solution to engage potential consumers would be to trigger these incentives/offers/promotions when its needed the most.
Here’s a scenario …
A user lands on your site, intends to make a purchase, adds a product to cart and goes to the checkout page. Then (s)he decides to leave. What do you do? Well, make one last attempt to reach out with your best offer for the user to finish the transaction!
And here comes the sales pitch! …
WebEngage can be a very effective tool in reducing the cart abandonment to a great deal. For illustration sake, let us consider you own an online clothing store. Your core clientele would most probably be the female demographic aged between 18 and 25. Money spenders and perennially distracted, which explains the high bounce rates from your cart page.
You have an inventory of unused offers, discount codes etc which you decide to leverage with WebEngage. Here are three different ways you can use WebEngage to push the right offer at the right time and make a sale instead of struggle with abandoned carts:
Use-case I: Use our Callout Notifications just next to your “got a coupon code?” box on the checkout page
Even if your user reaches the cart (s)he is still in two minds about the purchase (you can guess that by the time spent on the page). At this juncture, you choose to pop a discount code as shown and lure the user into making a purchase. Everybody loves surprises, you see!
Callout Notifications: blog.webengage.com/callout-notifications
Targeting Rules: help.webengage.com/targeting/how-to-setup-targeting-rules
Use-case II: Catch hold of users bouncing off the cart!
Did you know that we have a targeting capability inside WebEngage which allows you to push a Notification to users who are “about to abandon your site“? We call it Leave Intent Targeting. The idea is simple – make one last attempt to close a sale, before the user leaves your site.
Use-case III: Personalized offers based on user profile and purchase history
Loyalty is a rare quality and also, an under appreciated one. Users feel good when you recognize them and give them a little something just for the fact that they have stuck with you for so long. We let you achieve this via, what we call as, Custom Targeting. Don’t you love it when you see something like this?