eCommerce Trend: Abandoned Cart Management

Guilty as charged.  I recently abandoned a cart with running shoes for an upcoming marathon.  I was about to complete the transaction when I decided to stick with a pair I recently bought.  Everyone has done this…and we abandon our carts for so many reasons–shipping costs, indecision, credit card security, account creation, etc.  To combat this issue, many eCommerce stores are investing in platforms with abandoned cart recovery.  Here’s why it’s so important to jump on the bandwagon.

If you’re an eCommerce manager, sales are probably a key metric for success.  Abandoned cart management is one way to recover those lost sales.  According to Business 2 Community, abandoned carts account for nearly 70% of lost sales every day!  Whether you’re a small online shop or Amazon, that is a massive portion of revenue.

In addition to recovering some lost sales, an abandoned cart management strategy can give you insight about your eCommerce strategy.  For example, if you utilize reminder emails, you might offer free shipping or other incentives to prompt a purchase.  Maybe your customers are getting bogged down with shipping costs or the requirement of creating an account.  Adjust accordingly to win these customers.

So what are some best practices with this strategy?  Reminder emails are the most popular simply because if the customer has provided an email address, there’s already some interest.  Within those emails, follow these tips:

1. Wait 24 hours before you send the first reminder.  Give them some room.

2. Make sure the customer knows it’s you sending the email.  Clearly identify yourself in a messy inbox!

3. Incentivize.  Offer free shipping or a 10% discount on the order.

It’s crucial to implement abandoned cart management on your eCommerce platform.  Whether you opt for emails, offsite retargeting, onsite retargeting, or something else, you should invest in this feature.  Znode’s Multifront platform has backend shopping cart recovery functionality.

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8 Things You Might now About Multifront 8.0

In 2015 we released Multifront 8.0, with 8.1 following a few months later.  The new upgrades feature a plethora of new features, making the platform more robust than ever.  If you’re curious about upgrading your current eCommerce platform or looking to start fresh, familiarize yourself with a few facts about 8.1.

1. Full MVC framework.  Multifront is now built with MVC 5 and brings a lean, scalable eCommerce platform.  You’ll be able to reuse and maintain the same code, saving your development team a lot of time.

2. Redesigned admin.  Our fresh admin is fully responsive, making the user experience clean and user-friendly.  Work from the admin on any device–mobile, tablet, or computer.

3. Extension framework.  Third party plugins can now be developed by clients, partners, and independent developers.  Take your eCommerce functionality to the next level with this framework and fully reap the benefits of a customizable platform.

4. Single page checkout.  We’ve added the option for your customers to checkout on a single page.  You can still offer step-by-step checkout as well.  All of this is managed by the site administrator.

5. Quick order pad.  We’ve simplified the online shopping experience even further.  Your customers can use the quick order pad to add products directly to the shopping cart for a quick shopping experience.

6. Improved site admin.  In addition to a responsive layout, the back end features category tree browsing and visual reporting.  You’ll gain even more extensive insight about your eCommerce store.

7. New templates.  Our templates are implemented with best practices in mind for search, navigation, and conversion.  Don’t worry about meeting Google’s algorithm requirement.  Everything is fully responsive and mobile ready.

8. Abandoned cart management.  Are you struggling with customers shopping on your site but not completing the transaction?  Manage those abandoned carts with Multifront and see those conversions.

These upgrades will take your eCommerce platform to the next level of functionality.  You may even see a jump in your SEO with the mobile ready templates.  Visit our website to learn more or request a demo.