E-commerce is already a cut-throat game. New user acquisitions are challenging, and converting them into sales is even more cumbersome. Though, the right communication made at the right time via a suitable touchpoint can make a huge difference in the overall conversion rate. This is especially true for cart abandonment – a challenge well known to e-commerce businesses worldwide.
Cart abandonment is when a customer adds products to their online cart but leaves without completing the checkout process.
This leads to a huge cumulative loss of sales for e-commerce brands across the globe.
Why should you care about your e-commerce cart abandonment rate?
69.57 Percent – This is the average e-commerce cart abandonment rate across all the industries as per their customer analytics. This means that 7 out of 10 visitors will leave an online store without purchasing anything. E-commerce brands lose billions of dollars in revenue every year, owing to the abandoned digital carts. Factoring in the marketing expense that brings the customers to your website, an abandoned cart becomes the opportunity cost. If the acquired customer never returns to complete the payment process for their cart, you will bear the additional cost in terms of acquiring another customer as a replacement.
It is predicted that by the end of 2020, products & services worth $4 trillion will be abandoned in the digital carts across the world. This reflects the urgency with which e-commerce enterprises, big & small, must resolve this issue to uplift the average revenue generation graph.
Wigzo’s WhatsApp Cart Recovery feature comes in as an intuitive solution here. Adding it amongst your user retention strategies can help you recover as much as 60 percent of the otherwise lost sales!
Why Recover Shopping Carts via WhatsApp?
WhatsApp has become the go-to app for communication in major countries of the world. Its 1.5 Billion users, presence in 180+ countries, and end-to-end encryption make it the perfect tool to catch your lost customers. The communication is fast, and media support is excellent- aspects that render WhatsApp marketing a game-changer for the e-commerce industry.
However, to understand the value that Wigzo’s new marketing automation feature brings to your table, you need to understand why customers abandon their carts on your website. This will help you devise precise customer retention strategies for your brand.
Reasons for e-commerce cart abandonment
An online visitor can add multiple products of interest in their digital shopping cart and still leave it hanging at the payment gateway for multiple reasons. Some of those top reasons are:
- Non-inclusive pricing, i.e., additional taxes, shipping fee, or other charges
- Forced sign-up prompt or mandatory account registration
- The complicated and lengthy checkout process
- Limited payment options at the checkout gateway
- Security concerns (For new brands and websites without an SSL or secured digital payments seal)
- Slow website
- Vague product details
- No or only a few product/service reviews
- No offer coupon codes
- Non-responsive e-commerce site (i.e., it doesn’t work well on different devices like smartphones, tablets, etc.)
Running user analytics on your website can reveal the top reasons customers leave their carts on your website. But, whatever the reason, there is only one thing you can do to push the sales – by nudging the customer after they leave without paying. This is what the Wigzo WhatsApp Cart Recovery feature does.
How does the Wigzo WhatsApp Cart Recovery feature work?
Suppose Sam comes to your e-store to buy a wristwatch. He adds one to his cart. Then, he adds the recommended sunglasses and a pair of hiking shoes during the checkout. For some reason, Sam leaves the website without completing the payment process. A few minutes later, he receives a message on his WhatsApp contact. The message contains communication about him leaving the products without purchasing them, followed by a link. Once he clicks on this link, Sam is taken to the checkout page with his original cart in place (With the same products in the same order). He finally completes the payment process.
Wigzo pulls out the visitor’s WhatsApp contact from the database [if available]. It then maps the number to the user activity (Cart creation & abandonment) and triggers automatic communication.
How to use this feature?
Wigzo’s seamless usability makes it easy to use the WhatsApp Cart Recovery function. Follow these steps;
- Check if the WhatsApp Cart Recovery feature is enabled in your dashboard. You might need to upgrade your plan to avail of this feature.
- Click on ‘Automations’ in the left pane, then choose the ‘Automation’ option.
- Click on the button ‘Create Automation.’
- Select the ‘Start’ option under the ‘Triggers’ tab in the left pane.
- Then select the value as ‘Addtocart’ from the dropdown in the right pane.
- Drag & drop the WhatsApp icon from the left pane (Under the ‘Actions’ tab).
- Connect the flow on the screen between the ‘Start’ trigger & ‘WhatsApp’ action.
- Choose the dropdown against the WhatsApp icon to see available options.
- Choose the ‘Cart Recovery’ template.
- The visitors who satisfy the flow conditions will start receiving links to their abandoned carts via WhatsApp.
- They click the link to their abandoned carts and land directly on the checkout page.
Wigzo employs approved and dedicated WhatsApp numbers to send automated communications like this to all its clients.
Note: We will soon release more templates for automated WhatsApp communications. We have more campaigns in our development roadmap to send customer communications like order completion, order updates, etc.
In the e-commerce domain, different outreach channels perform differently for a given industry, geography, and a website’s online metrics. Despite providing an exceptional experience, best pricing, and great offers, breaching a conversion rate of 3-4% may seem impossible.
This is where the power of nudging and pushing the sales comes in. Wigzo WhatsApp Cart Recovery solution is simple in that sense, but mighty effective. Recovering up to 60% of the lost sales can help you outrun your competition and outwit your cash flow challenges. Moreover, this will also be a strong reinforcement to your e-commerce personalization initiatives.