Online retailers typically invest a large amount of time, effort, and money into ecommerce marketing strategies to draw potential clients to their websites. However, one of the most startling facts about online sales is that four out of five shopping carts are abandoned before a purchase is ever made. It is also true that most site visitors never even place items into a cart to begin with. If those whom your marketing campaigns bring to your site, and especially those that place items into a cart but then abandon it, were to return and make a purchase, your profit margins would instantly soar. So how can you get them to do so?
What Is Remarketing?
In the world of business, there are two distinct definitions of “remarketing.” The first, more traditional, definition refers simply to improving a product when sales decline and marketing it again in the hopes of getting a better response. “Ecommerce remarketing,” however, is a newer term that refers to a variety of online marketing strategies aimed at following up on “lost sales” when a shopper abandons his/her cart or at site visitors who never filled up a cart.
Remarketing is also sometimes called “conversion marketing” or “cart abandonment marketing.” It typically focuses on sending automated emails to those who almost made a purchase at your site, but didn’t. Targeted ads are also posted on the computer screens of such “lost clients” as they do Google searches using terms related to your products. Ads also follow them on social media sites like Facebook, and those who have used your mobile apps also see your ads posted nearby as they surf the Web. In sum, ecommerce remarketing is a set of tactics used to attempt to convert former site visitors into paying clients.
How Can Remarketing Benefit My Website?
In general, the answer to how remarketing can benefit your ecommerce site is simple: it recycles lost customers and yields extra purchases and increased profits. Responding to shopping cart abandonment is one of the most effective ways of gaining new clients, which makes sense since these site visitors were formerly interested enough in your products to almost make a purchase.
Typically, remarketing services manage to reclaim only one-sixth of lost sales, but even this is enough to make them worth their cost. One of the most outstanding remarketing providers, in our humble opinion, is ours, AbandonAid, as we typically yield cart reclamation rates of over 25%. We also charge less for their services than most companies, and offer additional benefits to boot.
Besides simply following up lost clients with an email and following them with relevant ads, here are some of the other strategies AbandonAid uses to increase ecommerce sales:
- Email templates that can be easily customized in text, color, call-to-action, HTML, and more.
- Settings that can improve your checkout process, like product image management, Google analytical tags, and basket segmentation options. No complex coding is required to apply these customizations.
- The CartGrader diagnostic tool, which lets you see all of your important checkout stats in weekly reports. You are also given access to data like total emails sent, recovery rates, and total sales produced by remarketing.
Ecommerce remarketing services provided by companies like AbandonAid more than pay for themselves by bringing back lost customers and reactivating abandoned shopping carts. Any online retailer can greatly benefit from boosting cart reclamation percentages and bringing back visitors who merely clicked through their website.