The average cart abandonment rate stands at 66.8%. With this in mind, abandoned basket retargeting is a great strategy for encouraging buyers to return to their baskets and complete the purchase. This strategy has become widely used by retailers, proving very effective. However, capturing potentially lost sales needn’t be exclusive to retailers. Marketers from a broad spectrum of industries have become savvy to its potential.
To inspire you, here are a few examples of how alternative industries can effectively use this feature.
Often when attending events potential attendees can be faced with a long form to fill in. Considering the busy world we live in, there are many reasons and distractions which may cause consumers to abandon it.
Retargeting those prospects with an email prompting them to complete the form can be very effective to help increase conversions and attract more people to your event.
The abandoned basket feature can be used by charities when potential supporters have abandoned a donation, fundraising event sign up form or purchase on their site.
The NSPCC saw a fantastic 48% open rate when they used this method to recover lost donations from users who had abandoned their site.
As sale cycles in the B2B industries are much longer, purchases are not made on the spur of the moment. However, B2B companies can use this feature to re-target people who have abandoned sign up forms to attend webinars, events and conferences.
Booking holidays is not a quick process, so it seems natural that customers can often become distracted and abandon the site. Travel companies can send abandoned basket emails with further details about the holidays which users have browsed and similar recommended holidays to encourage them to complete their purchase and be one step closer to a glorious sunshine break!
These are just some ideas to get you started, but now you can see how abandoned basket technology is a tool which is not only useful to retail marketers. It can be a successful strategy for a wide range of industries and savvy marketers are already using it.