Shopping cart abandonment is a huge problem that leads to lost ecommerce sales.
Shopping cart abandonment is when a prospective customer who starts the process of buying a product or service online, but then drops out before buying.
Shopping cart abandonment can be as high as 80 percent. In one study by Barilliance, shopping cart abandonment rates were 77.24% in 2016 and 78.65% in 2017. That’s over three-quarters of consumers that land in the shopping cart. The rate is over 80 percent among mobile users.
There are many reasons why consumers abandon shopping carts. Unexpected shipping fees, long and confusing process, too many clicks and pages, plus website errors and crashes.
Yet all is not lost if you have a downsell campaign. In fact, a downsell campaign with good sales offers can help you recover these lost revenues and get the consumer back to buy.
A downsell campaign occurs after a prospective customer abandons a shopping cart or order page. It involves a series of emails each with a link to a distinct landing page with a new offer. This new offer fulfills the customer’s needs and wants while lowering their perceived risk. In some cases, it reduces the price of a product or service.
While you can have downsell offers for all types of contacts, they are best to use to convert a lead into a new customer than an established customer. That’s because some customers will take advantage of your strategy, causing you to lose profits.
Here are 9 downsell campaign sales offers you can present to consumers who abandon their shopping cart.
Downsell Campaign Strategy #1: Free Trial Offer
A free trial sales offer lowers perceived risk of buying. It enables the customer to experience the benefits of the product or service. Then when the trial period is over you charge their credit card if they did not previously cancel. The two drawbacks are NOT getting paid in advance and potential loss of sale if the customer cancels. At least you’ve got them back to try it.
Downsell Campaign Strategy #2: Offer Same Product at Same Price Plus Add a Bonus
Adding a bonus to your offer increases the value of the deal. The customer can feel they are getting more from you, so their perceived value is higher. The thing is you can be creative with the types of bonuses you offer. It can involve a complimentary product or service, a consultation, educational product or event.
Downsell Campaign Strategy #3: Offer the Same Product or Service at a Lower Quantity
By offering the same product at a lower quantity, such as size, the customer wins by getting what they want for less cost. You win by earning a customer and lowering the quantity you give for a lower price, so you can earn a profit. This strategy enables you to develop a loyal customer rather than losing them entirely.
Downsell Campaign Strategy #4: Coupon For Next Offer
Offer a coupon for their NEXT purchase if they …