We recently released an Infographic illustrating that abandonment continues to be a major challenge for businesses online with abandonment rates in Q2 2013 averaging 75.5% across all industry verticals.
Just as notable is the effectiveness of email in communicating to these ‘lost’ customers – or hottest prospects depending on which way you look at it – with the average basket/cart/booking abandonment email worth a staggering $6.05 per email sent.
An eye catching figures I’m sure you’ll agree.
Whilst the reasons for abandonment most often brought to head in research refer to high shipping costs and the pains of long delivery cycles – the results in travel, where this is naturally not a factor, are fascinating to read with ‘booking abandonment’ proving a major headache to all aspects of the travel space, with our research incorporating major holiday operators, flight companies and hotels.
Not only is the abandonment rate higher in travel, with price comparison and ‘bargain hunters’ a clear contributor towards that 81% booking abandonment rate – but the all important Send Rate (the % of abandoners that brand’s have been able to contact, either through offering the email address during the process, or through logging in) is significantly lower, with 90% of abandoners remaining anonymous when it comes to leaving an email trail.
The area of data collection and acting before a customer abandons is a logical next step for brands looking to address the challenge. Whilst some brands have flirted with online chat systems (although the merits of automated chat systems is open to debate) the use of real-time customer data to influence messages shown onsite is an area of real growth potential.
The likes of SaleCycle and SocialTriggers offer brands the ability to provide targeted messages online at the point a customer appears to be about to abandon. A kind of ‘abandonment intent’ where the message shown to the customer (typically in the form of a slider / litebox) will encourage the customer to leave their email address behind or offer alternative product recommendations to prevent the abandonment completely.
The statistics in Q2 illustrate the fact that rather than seeing abandonment as a negative, brands should see abandonment as an opportunity with customers putting their hand up and declaring an interest in products and the brand…
Abandonment. Just another part of the customer journey…
The numbers are taken from an average across 200 global brands in Q2 2013, including Monsoon, Sony and Millennium Hotels.
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