Shopping cart abandonment is one of the most frustrating battles experienced by ecommerce sellers. According to Baymard Institute, 67.91% of shopping carts are abandoned. That is nearly 7 out of 10 customers who visit your site and leave with nothing. From surprise shipping costs to complicated checkout experiences, there are several reasons why shoppers get through your entire site and jump ship from purchasing.
One way online sellers overcome this challenge is with various ecommerce retargeting strategies. You may have also heard about something called "remarketing", which is essentially the same idea, however this often includes email marketing. Today, we'll stick with "ecommerce retargeting".
Here’s how it works:
You place a small, unobtrusive piece of code on your website (this code is sometimes referred to as a pixel). The code, or pixel, is unnoticeable to your site visitors and won’t affect your site’s performance. Every time a new visitor comes to your site, the code drops an anonymous browser cookie. Later, when your cookied visitors browse the Web, the cookie will let your retargeting provider know when to serve ads, ensuring that your ads are served to only to people who have previously visited your site. (Source: Retargeter)
For example, if you implemented a remarketing strategy through a tool like Google Adwords, Retargeter, Facebook or AdRoll, you’d be able to promote your product to people who have previously visited your site. This would include the group who abandoned their shopping carts. It’s a great way to build brand awareness and increase the chance of that same person coming back to your website.
Why retargeting works:
As a business, the people who visit your site, Facebook page, etc. are powerful leads that must be nurtured. There are so many options that exist for shoppers and retargeting is key to staying top of mind. You may have disregarded the previous abandoners, but with retargeting, you’re able to test different messaging and content that could bring them back to your site. If you think about it, these are people that have already shown an interest in your product line, but just need a friendly nudge to complete their orders. You’re maximizing your dollars by focusing on high-quality leads. You're also testing content that you can use through all marketing efforts.
The reason why remarketing works is because you segment your customers and can gain a better understanding of what content works. Relevance is key with each of these segments when you’re trying to re-engage them. Once visitors do come back and purchase a product, you will want to either remove them from your retargeting list or add them to a different list that promotes a similar or complementary product or service.
Monitor, test and tweak consistently. Don’t just create your retargeting campaign and let it run its course. In order to have a successful campaign, you will need to monitor it and change your ads depending on their click through rates.
Lastly, if you’re struggling with managing your ad campaigns, leave it up to the experts to help. Solutions like AdRoll can help you not only manage your ongoing remarketing campaigns, but they can also provide assistance in designing your ads as well.
Are you currently managing remarketing ads for your business? Have some tips for other sellers? Share them below!