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The "Abandoned Cart" Illusion
Max Sturtevant
April 04, 2024
The Inbox Newsletter
Hello and welcome to The Inbox Newsletter.
My name is Max (hopefully you know that by now).
I made an interesting analogy yesterday….
This will help explain the Abandoned Cart Problem.
The Abandoned Cart Illusion
It’s no secret that abandoned carts are a major issue.
And your ability to recover them effectively can be the difference between 7-figure and 8-figure stores.
On average 70%-85% of ecommerce carts are abandoned.
This is a staggeringly high number that’s been rising over recent years.
But why is this happening?
It’s simple.
The way people use your store’s cart feature is shifting.
It’s no longer an act of commitment.
Rather, it’s an act of bookmarking.
Clicking the “Add to Cart” button is the ecommerce equivalent to “Liking” a post on Instagram or Facebook.
Consumers today just aren’t adding your products to their cart and buying right away.
They’re going to go through your site, add multiple favorites to their cart, and if you’re lucky, make the decision on which one they want to go with.
But in most cases, they’ll add a few items to their cart then go check out your competitors and add a few items of their’s to a cart.
Why shouldn’t they?
There are hundreds of brands in your niche, so why jump and go with the first or second option?
The counter this, you must have rock-solid email / sms abandoned cart and abandoned checkout systems in place.
Without constant reminders (spanning over 2 weeks), your customer will lose you in the mix and go with a competitor.
Get your systems in place.
Use this Abandoned Cart Strategy to Recover 2x More Sales
This is a great video I made a couple months ago on abandoned cart and abandoned checkout flows.
It goes over everything you need to install them in Klavoyo and the optimal strategies for maximum revenue.
Email Inspiration Of The Day
Brand:
Magic Spoon
Email Design:
https://drive.google.com/file/d/1LaF2sdRyljYY02Lhg4m_7v5URqdC68fY/view?usp=sharing
Notes:
Honestly, this is one of the best emails I’ve received in awhile.
Notice how simple the email is
A header, quick body copy, button, and then a bridge section withe more info.
You don’t need to go crazy on your copy. Keep it nice, short, and sweet.
But punchy and memorable.
Love this email.
A/B Test Result of The Day
Variation A (Top):
Unengaged audience winback offer of Buy 2 Get 2 Free
Variation B (Bottom):
Unengaged audience winback offer of Buy 3 Get 3 Free
Insights:
Testing your winback offer can be a very lucrative test in the long run.
We want to find the incentive that gets lapsed customers to come back at the highest rate.
This company has high margins and wanted to run large package deals for subscriptions
The audience we targeted was customers who had subscribed to our product before but canceled in the last 12 months.
It looks like customers are going to favor the cheaper, less committed offer.
Even though the buy 3 get 3 free offer had $75 in value extra, people still chose the lesser option.
Interesting insights.
Try to make the barrier to entry low for lapsed customers, but always test!
Helpful Links Of The Day
Reply to this email if you have any questions or further content you want covered.
Cheers,
Max