0% Cart Abandonment? Yes, it is Possible

Let’s start by defining what "Abandonment" means and as pulled from salescycle.com site:

“Abandonment is an ecommerce term used to describe a visitor on a web page who leaves that page before completing the desired action. Examples of abandonment include shopping cart abandonment, referring to visitors who add items to their online shopping cart, but exit without completing the purchase.”

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%.

Abandonment Rates by Industry

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!

Current Solution

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.

Top 6 Reasons Why a Customer Abandons the 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.

Nipping It in the Bud

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:

  • When the customer is struggling on the site for some reason, Tealeaf will capture that and flag it to the corresponding team and becomes a trigger for Chatbot.
  • Tealeaf will also pass on session/customer/problem details for Chatbot to comprehend and prepare.
  • Chatbot will initiate a chat window on the customer’s screen.
  • Chatbot will then introduce itself and acknowledge the problem at hand and provide the solution.

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]

You may visit us at www.royalcyber.com for more information as well or to check out our Commerce page.

by Akhil Pathania

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