You didn’t expect that title, did you? But I want to tell you why I’m going into the shopping cart abandonment industry. I feel like I need to explain to you why I’m wading through the graveyard of abandoned shopping carts, to share the elixir that will bring sales back to life.
You see, over the next few months, I’m going to dedicate a lot of time and my own money into this venture. I don’t know if it’s going to work. It might be a complete flop. Failure means I’ll have to go back to being a marketing dogsbody in a company or marketing agency. Which I’d prefer not to… really. So I have faith in you, that you’ll be able and willing to help! So, let’s start.
When I discovered that 68% of customers abandoned their shopping carts – I was shocked! I always thought that ecommerce was this lean, mean sales machine. But no. Online retailers fail to close two thirds of their deals.
I guess I was seeing the world of ecommerce through beer goggles. It looked good for a certain time. But in the morning, it really wasn’t pretty. And shopping cart abandonment is a big ugly problem, in my opinion.
Hands up, who wants more money? Duh. If someone with credibility, looked into your eyes and told you “I’ll make you more money”, is that not an enticing offer? That is sexy. And shopping cart recovery software does boost sales by 10-30% on average.
Something I learnt whilst I was at my previous company, was figuring out what motivates people.
You can’t sell facts and figures to someone. You can’t. You can be supremely logical, but higher click-through-rates are not what motivates people to buy your stuff. What motivates most people is what their boss thinks of them. People are turned on by approval. Everyone wants to feel good about themselves, including you. So if you can buy some shopping cart recovery software which improves sales, and gets you a happy boss, then it’s a no-brainer.
In the sales and marketing industry, at least, bosses don’t tend to care about the people beneath them. Bosses only care about their staff’s results. Bosses therefore tend to be spreadsheet junkies. So the best way to get them to love you, is to make their spreadsheets sparkle. Shopping cart recovery software means happier offices all round!
The big advantage of doing something like this is the good relationships we’re going to have. No… not like that. But what I mean is there’ll always be people to dine with, meet and chat to. And I’ll have a really thriving little network.
Also later on if I want the company to expand beyond shopping cart abandonment software, I’ll have those links with companies and people who want to hear what we have to say.
However, I think the most satisfying thing you can do is leave a positive mark on someone’s life and career. That’s the real reason why I’m doing this. I want to be remembered for making people do well in their careers and feel good about themselves.
Only 14% of companies use emails to recover abandoned shopping carts according to Listrak. Ok, you can pick holes in that study, it was only the 1000 biggest retailers in America, and it may be a little dated (January 2012)
But this was the fact which got me thinking. There must be a huge market for this software here. But nobody seems to use it. “Surely”, I then thought, “I should be in this industry”. And here I am a couple of weeks later. I’m going to to learn, evangelise, educate and then consult in this industry.
Shopping cart recovery software may not seem glamorous or hot to you. But if you’re in ecommerce or work for a software provider… it is. Making more sales is something every business owner and boss wants, but nothing does it quite as easily as shopping cart recovery software. And that’s why I’m diving into it.