subject: Aov of recovered sales [print this page] Aov of recovered sales Aov of recovered sales
Not every merchant appreciates that conversion rates may at times be a mere statistic. It does have its limitations. Without knowing the average order value, what it cost to make a sale and how conversion rates are measured, any comparisons can be meaningless. When it comes to shopping cart recovery, it is important to determine what the average order value of recovered sales is. The value depends on the product being sold.
Leveraging and optimizing shopping cart abandonment emails through an effective remarketing program is a great way to recover cart sales.
lost sales can be recovered by sending one or more emails to customers reminding them to complete the checkout process. An effective method of reducing the abandonment rate is to send personalised email messages at intervals and a series of messages with different incentives which may include free shipping, discounts and other free offers. A service-oriented approach is often better than one with a high sales pitch which could sometimes seem like a devaluation of the product.
Merchants need to determine when to send abandoned shopping cart emails in order to recover sales. Among the factors to be considered are whether to feature cart products in the message and whether to include incentives to bring back the lost customers. There are several pros and cons of offering incentives since people abandon carts for different reasons which include high shipping costs and frequent internet interruptions. A friendly email reminder within an hour of cart abandonment could be followed up by a coupon incentive a day later when attempting to remarket a product or service.
Emails sent as part of the remarketing process tend to be more successful in converting lost sales since they are relevant and timely to the recipient. Strange as it may sound, customers would find it frustrating if they found their shopping cart missing when they return to the site. Therefore, a direct link to the shopping cart is an effective strategy to recover lost sales. An incentive to complete the purchase increases the average order value.
Ultimately, whatever remarketing strategy is implemented, the offer and the email should be customized based on the customer's specific profile. Real time response is the key to a successful shopping cart recovery program. Responding in a timely manner can make a huge difference to profits especially when it comes to recovery of abandoned shopping carts. Remember, lost customers are among the most valuable clients when it comes to remarketing.
