Store Optimization
May 15, 2020 -
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Store Optimization - December 31, 2020
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Cart abandonment is like a longing pain in the neck for online retailers!
Every day, 69.23% of online carts are abandoned, which means that your sales numbers may only be one-third of what they could possibly be. You, eCommerce merchants, lose your potential orders, and sales numbers just stay still.
However, while cart abandonment is a nuisance, it also offers excellent opportunities to understand your customers, learn from their behavior, and in turn, helps us to bring out the solution to all of this.
We’re giving you the fact that many ShopBase sellers have been applying this method into practice with their business. And the results are worth the effort as the recovery rate has doubly increased from 1.39% to 3.27%.
Know what’s even more awesome? The spending is only $232 using ShopBase abandoned cart recovery SMS to earn up to $18.000 in total revenue. Such numbers to be mindful of!
So in today’s post, I want to show you how to nail your abandoned cart SMS automation with ShopBase and zoom in why this strategy is one of the most effective ways to drag the cart abandonment rate down to the ground.
Let’s go!
It’s crucial to figure out the root cause of all these pains in order to assess whether you need to change some of your online practices or not.
A recent survey by Baymard looks more specifically at the reasons for checkout abandonment.
So in general, the lessons from the data above are that people are abandoning online purchases due to issues that can be fixed by better design and usability.
However, once your customers decide to opt out, there’s a high chance they won’t come back, and all your effort of making it easier and more flexible to check out just don’t get the notice back from your dropped shoppers anymore.
That’s when you need to think of a bigger picture and further solution to bring your customers back to your store as soon as possible. And adding text messages to your remarketing toolkit is one of the most powerful retention marketing ever.
First thing first, when encountering a problem, you need to come up with a know-how mindset and think of the most suitable approach to address the problem quickly. At ShopBase, we stick to data-driven decision making rather than just making decisions that are intuitive or based on observation alone.
Here’s the flow that we’re currently working after:
So enough for theory, it’s about time to analyze everything and let the number do the talking.
Below is the SMS indicator when ShopBase first received the request from our customer for the optimal advice.
The rate from Feb 17 to Mar 17, exactly one month long, was only at 1.39%, which was pretty low. Now, let’s do the math:
This means, for every $1 spent on SMS, this store earned only $9.26 in net profit.
The goal set is to at least double this ROI. Here’s how ShopBase comes to the rescue:
As you can see, every element from the SMS sent, SMS clicked rate to the order complete number hasn’t been showing good performance for a period of 30 days. From these stats, ShopBase analyzed all the relevant factors that can actually affect the result during this process, which includes:
This is the first content and the default sending time for recovery SMS:
ShopBase recovery SMS settings before optimization
As an eCommerce platform for many stores of all types from print-on-demand, general dropshipping to niche-focused dropshipping websites, this given content is still quite general.
It can be beneficial for our merchants because they just have to turn on the recovery SMS settings and everything is all set so that any stores can use this feature. However, this also comes with “not-so-called-an-advantage” that all the SMS content would be similar for every store, which can cause boredom and non-interesting for customers to read, thus results in the low rate of clicked and seen SMS.
Therefore, ShopBase gradually tested each of the aforementioned factors, by changing one by one every week. Here’s the testing process:
And the result we got after conducting an A/B test for the recovery SMS:
The recovery SMS after conducting an A/B testing
And finally, hard work paid off. This is the final results calculated from March 21 to April 19 (less than a month) after optimizing everything:
The recover rate has incredibly doubled from 1.39% to 3.47%!
That is, for every $ 1 spent on SMS, this store earned a net profit of $23. We officially exceeded the original goal in less than a month!
*Extra tip!!!
During this time, ShopBase suggests that all the store owners can update and optimize the SMS content due to the current issues and trends to inform customers and keep them stay up to date, such as:
>> More ideas about the profitable dropshipping niche in 2020
All in all, by putting this process into practice:
Give out the hypothesis based on data set >> A/B test >> analyze all the possible factors >> optimize everything at its best >> repeat until you make it, you can apply this method to not only the recovery SMS but also to drive the conversion rate of your store, run effectively Facebook/Google ads, etc.
Here I have listed out some of the most suitable SMS content for different categories, as suggested by SMS Bump. Please refer and apply for your SMS content if needed.
If you’re selling your products with ShopBase, your recovery SMS feature has already been integrated to your store and ready to run.
>> You can read Abandoned checkout follow-up emails and SMS guide for more information!
Other than that, if you’re a merchant on a different platform, you will need to install a third-party app for this SMS feature.
Money just doesn’t grow from trees. Smart tools make it so. Let’s sign up with ShopBase today to try out all ShopBase powerful features and start scaling your business right now!
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