We’ve all heard the statistics: only 3% of visitors will make a purchase in their first visit to an ecommerce store. In other words, 97 out of every 100 people will simply leave without making a purchase. To make matters worse, 70% of people who add an item to their cart will never actually checkout. So you’re losing 7 out of 10 people in the checkout process too.
Business Insider recently released a report that approximately $4 trillion worth of products will be abandoned in online shopping this year with only 63% of that being recoverable.
As a store owner, what can you do? How can you retain more visitors and prevent cart abandonment? You’ve got products to stock, orders to fill, emails to send, plus social media and your cost-per-click campaigns…
Trying to find out why customers don’t complete the checkout process and reducing your cart abandonment rate is probably not on the top of your list! With so many things to do as an ecommerce store owner, who has the time?
Well, you’ve come to the right place. In this case study, we’re going to look at how one of our clients managed to overcome their challenges, reduce their cart abandonment rate and generate more revenue by simply implementing some strategies with OptiMonk. The results during the time period evaluated were impressive:
- Sales driven by OptiMonk accounted for 14% of the total revenue generated.
- OptiMonk also contributed 17% of the total transactions made by clients on the site.
- 31% of people abandoning their carts were pushed back into the checkout process by OptiMonk, significantly reducing their cart abandonment rate!
How to Reduce Your Cart Abandonment Rate
The company we’re featuring in this case study is:
Bullets2Bandages is a mission-driven, socially conscious apparel and accessories store. They created a way to take an instrument of war and transform it into a symbol of pride, gratitude and healing. The company was designed to give thanks to veterans, those fighting for their country, and the families who provide them with love and support at home.
Due to their marketing efforts, Bullets2Bandages already had a massive volume of web traffic. However, they realized that many visitors were simply “stopping by”. They would add an item to their cart and then leave without completing the purchase.
Like many other e-commerce site owners, Bullets2Bandages knew that they needed to do something to reduce their cart abandonment and encourage customers to complete the checkout process. They were investing heavily in driving traffic to their site, so it was vital that they convert as many visitors as possible into buyers to increase the ROI of their marketing efforts.
Bullets2Bandages needed an affordable solution that did not require a lot of effort for installation and provided immediate results. They knew the only way to increase their sales would be to find a tool that focused on re-engaging people as they abandoned their cart. After looking at a number of solutions focused on cart abandonment and exit-intent, they chose OptiMonk.
The next step was for the team at Bullets2Bandages to find the best way to use OptiMonk to lower their cart abandonment rate and encourage people to complete checkout.
After reviewing the different templates, they decided that a discount on upgraded shipping would be a good incentive for their customers to complete checkout. Everyone loves fast shipping, and everyone loves discounts, so it was a win-win for their customers.
Bullets2Bandages created a discount of $4.99 on expedited shipping – equivalent to a free upgrade to Priority Mail. They added a sense of urgency to their offer by including a countdown timer in the popup shown to cart abandoners. To take advantage of the deal, customers had to complete the checkout process in the next 8 minutes:
As appealing as their offer was, Bullets2Bandages needed the right triggering to ensure their offer was shown to relevant visitors, and not shown to others.
Because the focus was on visitors who were leaving their website, they implemented their campaign based on exit-intent:
While it is important to know when to display your popup, it is equally important to know when not to display your popup. By controlling the number of times your popup appears, you can make sure people see your offer without bothering them or hurting the user experience of your site.
Bullets2Bandages configured their popup to display only 2 times per visitor. If a visitor does not want the offer after seeing the popup for a second time, then it will not appear again:
The reason Bullets2Bandages chose OptiMonk was to reduce their cart abandonment. So, their first step with targeting was to make sure their offer was shown to visitors who tried to leave the Cart or Checkout pages on their site. Here’s how they targeted people abandoning their cart:
While there are many options for targeting visitors, Bullets2Bandages wanted to display their shipping discount to every potential customer who was abandoning their cart. Because the offer was for upgraded shipping within the United States, they used geotargeting to target visitors from the US only:
Next, Bullets2Bandages wanted to prevent customers from seeing the offer again after completing checkout. To do so, they blocked all visitors who had visited their order confirmation page:
Finally, and most importantly, to track the performance of the popup on their website, and also the revenue and transactions generated by OptiMonk, Bullets2Bandages integrated their campaign with Google Analytics.
This allowed them to monitor how many visitors saw the popup, how many selected the offer, and how many completed checkout – as well as those who simply closed the popup without opting in.
Here you can see how they integrated OptiMonk with Google Analytics:
By configuring OptiMonk to show their offer to the most relevant visitors at precisely the right time, Bullets2Bandages was able to achieve some incredible results, reducing their cart abandonment rate and increasing their revenue.
Cart abandonment can create a lot of frustration for store owners because it isn’t always clear why visitors are leaving the checkout process. By studying their traffic, and where they were losing visitors, Bullets2Bandages knew they needed a tool to re-engage visitors who were abandoning their carts.
After choosing OptiMonk and carefully implementing their campaign, they managed to re-engage 31% of people abandoning their cart.
When cart abandonment goes down, revenue goes up. As a result of pushing visitors back through the checkout process, OptiMonk generated 14% of the revenue during the time period evaluated.
What’s more, 17% of transactions during this time were attributed to OptiMonk. Bullets2Bandages was able to stop people from leaving their site without bothering their existing customers, and ultimately saw a big increase in their sales.
By understanding your visitors and their behavior, you can re-engage them and see a greater return on the traffic you are driving to your site.
Using OptiMonk, in just a few steps you can develop a strategy that fits your website and your business model. First determine where you are losing visitors on your site, then create a compelling offer that encourages them to continue browsing or complete the checkout process.
Most importantly, configure your campaigns so that they don’t bother your visitors. By controlling the timing and who sees your popup, you can be sure to improve your sales without hurting the look and feel of your site or bothering your existing customers. That’s a win-win-win.
Would you like similar results?
Create a free OptiMonk account and see the results for yourself. Stop losing customers today!