Imagine this: Your target consumer is browsing your website in an airport lounge. She finds products she likes and ADDS them to her shopping cart. Then, her flight is called and, now in a rush, she leaves the site and forgets to complete her shopping. Abandoned once again!
Does this sound familiar?
Online retail marketers are consistently challenged with online shopping cart abandoners. Nearly 80% of online shoppers abandon their virtual carts, according to Statista.
Resonateʻs consumer intelligence platform solves this problem for marketers through dynamic person-level insights that provide a deep understanding of consumers to turn shopping cart abandoners to returning customers.
There are two easy steps in the Resonate Platform for converting shopping cart abandoners. Let’s walk through them by looking at a hypothetical online Retailer A, which has a persona group named “Jenna.” Using the Resonate Platform, Retailer A can determine the percentage of “Jennas” who are shopping cart abandoners and uncover insights that will enable them to connect with non-converting Jennas.
Step 1: Determine the Percentage of Shopping Cart Abandoners
With the Resonate Platform, marketers can tag their digital properties, including landing pages and conversion pages to run analyses. In this case, Retailer A focuses on the relationship between its tagged home page and purchase page to run an analysis.
After running the analysis, Retailer A switches to the Measurement tab at the top of the screen and selects RealSegments from the drop-down menu.
Then they are prompted to add their segments to their analysis and check the boxes next to the segments they want to include—in this case Jenna. They then click on the Add Selected button to add the segment to their analysis.
The percentage of shopping cart abandoners can be determined by subtracting the composition of those who landed on the home page from the composition of those who visited the purchase page. For Retailer A, 15% of their target persona “Jenna” does not convert on their purchase page.
With this insight, they can dive into the profiles of these consumers to understand why they don’t convert.
Step 2: Create an Audience of Shopping Cart Abandoners
The next step is to navigate to the Audience Builder to create an audience of Retailer A’s Jenna segment.
Under the My Tags tab, they find their Home Page and Purchase Page tags and add both to the audience definition.
The default audience definition will incorrectly be “people who visited the home page AND the purchase page.” They actually need to update the audience logic to create the audience of non-converting Jennas. So, they click on the OR next to the Purchase Page tag and select Exclude OR so the definition reads as “people who visited the home page but did not visit the purchase page.”
They click Add to Analysis, then click Run Analysis. This brings up Resonate’s curated reports, which help better understand the Human Element of these consumers and why they didn’t convert. For instance, in the Personal Values Report, they learn that this audience values pleasure over safety and tradition. New creative focused on themes of enjoying life’s pleasures will be more successful in converting them.
View a short video to see what Retailer A uncovers about their non-converting Jenna persona.
Want some help figuring out your shopping cart abandoners? Contact us today.
Categorized as: Blog Page, Consumer Insights
