Let’s start by defining what "Abandonment" means and as pulled from salescycle.com site:
Cart abandonment is a major problem. Talk to any retailer or service provider and they would be willing to give up their arm and leg to stop abandonment. The average Ecommerce store loses over 77% of its sales to cart abandonment. Some industries experience an average of cart abandonment as high as 82.1%.
These rates represent the percentage of customers who left behind their order instead of purchasing.
Initially, the challenge was to find out why customers were abandoning their carts! In recent years, the software market has been flooded by a host of solutions which can record customer sessions, which then can be investigated to find possible reasons for abandonment. As the popular saying goes "A problem Well-Stated is Half-Solved". Using these solutions we can find out what went wrong, where it went wrong, and then we can figure out how to fix those issues!
Out of various solutions available in the market, IBM Tealeaf stands out and has been a trusted solution for a number of medium-to-enterprise level customers. It lets you know the what, where, why, and how. And once we have all these answers, we aren’t far from fixing those problems and can give customers one less reason to abandon their cart.
While nothing can be done about customers facing connectivity issue (4%), the remaining 96% can be tackled and attended to, and even if conversion goes up only by 0.5%, your investment has yielded a positive result.
Using effective email marketing, a lot more than 0.5% can be achieved and we have many success stories to share. However, in order to eat the whole cake, something more proactive is required and that's where our Chatbot solution comes into the picture.
Running email campaigns to recapture the lost audience does work but its effectiveness is driven by how soon the customer is contacted and if they haven’t already gone to a different site and made the purchase! In order to satisfy the customer, the problem has to be resolved the very moment it happens, before customer gives up and starts looking elsewhere.
Royal Cyber’s solution makes use of Tealeaf & Chatbot to achieve this level of satisfaction:
A customer would have the option of letting the Chatbot assist them through the chat or calls someone to resolve the scenario.
That way we have a happy customer who is now impressed with the level of service and commitment exhibited.
At Royal Cyber, we have a dedicated R&D team which works around the clock to come up with solutions which resolve real-life problems. You may contact us at [email protected]
by Akhil Pathania