Cart abandonment is one of the biggest issues for ecommerce businesses.
Cart abandonment is one of the biggest issues for ecommerce businesses.
Someone looks at your product or service, adds it to their cart, but then doesn’t purchase.
Leaving you, the business owner, scrambling to figure out what happened.
The average cart abandonment rate is just under 70% across all industries, and that can frustrate and even trouble ecom owners, but the good news is that with Facebook & Instagram ads, we can retarget those people and recover some of those wondering shoppers, allowing them to pick up where they left off and complete their purchase.
But how, you ask? We’re going to share our 3 most crucial tips that we use to generate hundreds of thousands of pounds every year and give you the power to pave your own road to ROAS!
1. Inspire Action with FOMO
FOMO – Fear of Missing Out – is a great way of urging your buyers to convert. Using urgency by giving time incentives like ‘’time running out’’, or ‘’only while stocks last’’ can be enough to push people over the edge. Check out this example by boohoo.com:
2. Discount Codes & Offers
Discount codes can be the final objection killer that they’ve been waiting for. Combine it with a limited time offer to create a time incentive discount and you could be sitting on a winner! (used by boohoo.com above).If you’re wary of cutting into your profit margins with discounts, you can always offer something of high perceived value, but low cost to you, as a business.For example, if you’re selling Men’s Dress Shoes, you could offer a free shoe polishing kit (that you usually sell for £20, but only costs you £5) for a limited time. The perceived value is much higher to customers and can often trigger more purchases than a low 5-15% discount, whilst having a healthier effect on your margins.
3. Use Dynamic Product Ads (DPA)
When you’re retargeting, we’ve found nothing in the ecommerce world is as powerful as dynamic product ads.With Dynamic Product Ads, users are confronted with the products they have viewed and/or added to their cart but are yet to purchase, as well as other similar products. This is what has continually worked for us across multiple industries and gains the highest Return on ad Spend (ROAS) of any other ad type. Here’s an example by River Island:
There’s a saying that goes “The weight of what has been lost is always heavier than what remains…” – Now that may seem over-dramatic when it comes to cart abandonment, but it can feel that way sometimes, especially when you pour your heart and soul into your ecommerce business. But by taking action on these cart-recovering tips, you can convert at least some of those non-purchasers, have them find their way into your customer retention cycle and you can ride off into the sunset.
Give them a try, and let us know how it goes!
BONUS TIP: Ads Library
Did you know that you can ‘’spy on your competitors” and see what Facebook ads they are running?
But, the Facebook Ads Library is best not used that way!
Whilst you can see other business’ ads, you can’t see results. Simply copying would get you precisely nowhere, not to mention targeting, audience types and more.
It’s best used for INSPIRATION.
If you need ad ideas or feel like you’re just missing that little something, just over to the Facebook Ads Library, type in a famous and well recognised brand in the same space as you and let it ignite your own creativity!
Here’s the link: https://www.facebook.com/ads/library/
Want to discuss working with us? Click the link below
https://go.blacktipsocial.com/request-strategy-call
