At best, you are wasting around 95% of your website traffic budget. The best case scenario is around 5% of your website visitors will convert into sales and the rest are missed opportunities. But, that should not be the case.
You can use typical cart and checkout abandonment strategies to recover some of the sales, but a live chat within your checkout process on the website and offsite can have a massive impact.
In this post, we will cover:
Let’s get into it.
You spend a lot of time and money getting people to your website and showcasing your products. Many of these visitors are legitimately interested in the products, and you can prove this by monitoring multi-product page view engagement and other deeper engagement metrics.
However, only a small portion of website visitors buy. Typically 2% to 3%, or best case scenario 5%.
We have been able to dig in to the Google Analytics accounts of hundreds of Ecommerce stores, and here are some of the checkout abandonment patterns we see:
Run the numbers for your business, but here is an example:
If 70% of those were abandoned carts, you are losing $350,000 per month here. To be fair, it is not realistic to save all of those, but you can definitely recover quite a bit. If you recover just 10%, you are looking at over $400,000 per year in revenue.
But let’s dig deeper.
The specifics are tough to know without seeing your specific Google analytics data. But in the above scenario, somewhere between $120,000 and $400,000 per year is being lit on fire in the checkout process.
If you want to grow your revenue, recovering this revenue is a great place to focus.
We are going to dig into an advanced live chat strategy you can use to recover more carts, but below are some of the basics you should already have in place:
No matter how good your marketing or website is, customers are going to have questions holding them back from buying.
This might include product specific questions around their need, or urgent questions they have about shipping time for a potential gift.
Either way, having a strategic checkout process that does not allow them to engage with a human leaves a lot of missed opportunities to close the sale by not answering quick but important questions.
You can answer these questions by having your team on live chat directly in the checkout process.
By predicting when someone is likely to abandon checkout and then inviting them to chat, you can be there at the perfect time to answer their questions and win the sale.
Pro tip – having your live chat team available at nights and weekends will drive more revenue significantly, as 30% to 50% of your traffic and sales will typically come outside of business hours. Prospects react really well to after hours support, as it is not something most of your competitors will be doing yet.
In addition to chatting with someone directly in the checkout process, you can track if they back out of the checkout process and invite them to chat.
For example, it is likely that someone has a question if they start the checkout process, hit the shipping details page, and then click the back button or go elsewhere on your website. Maybe they are looking for shipping time, or curious about something else.
You can track this browsing behavior and trigger a chat invite after someone leaves the checkout process but remains on your website.
But what if someone leaves the website completely? You can still connect with them on chat through your abandoned cart emails.
A typical abandoned cart email sequence starts with a reminder email which leads to some sort of discount the next day, and might send one or two more emails to try to close the sale.
The problem with most abandoned cart strategies is that they don’t allow the customer to easily get answers to their questions. They are just discounts and other promotional offers.
Remember that what holds people back from buying are typically simple but important questions. You might be able to get a few people to reply to your emails with those questions, but offering an immediate answer through LiveChat is more effective.
You can integrate LiveChat as a call to action in your abandoned cart email sequence to allow prospects to click a button to open up a LiveChat conversation right away and speak with a human. This is done by adding the custom link to your email sequence that would open up the chat box directly to your website.
This simple tactic can increase the conversions from your abandoned cart efforts significantly.
Pro tip – you need someone on LiveChat 24/7 to ensure that your visitors don’t have to click to engage with LiveChat and then hit an off-line message form. That could hurt conversions. You can technically get Ninja and configure the link to only function during certain hours, but your best option is 24/7 coverage.
You obviously need to have a LiveChat to implement in your check out abandonment initiatives. But if you are not using LiveChat anyway, you are missing out on a massive amount of revenue.