Brett Thoreson, Founder Online retail sales are growing significantly with every passing year, and they are expected to increase further in the future. However, while the e-commerce sector is witnessing significant traction, it’s also dealing with the challenge of cart abandonment. As per reports, the online cart abandonment rate currently stands at about 70 percent. As customers often multitask while searching for a product, they ultimately move away from the e-commerce website. In many cases, they get distracted and leave the item in the cart to purchase it later. Besides, a website converts two to three percent of its traffic into a purchase, and around 97 percent of the traffic leaks out of the funnel. To address such problems, CartStack, a Minnesota-based company provides specialized support to online retail firms to get the shoppers back to their websites.
CartStack helps e-commerce businesses run various campaigns such as Abandoned Cart Email and Exit Intent and Delayed Popup campaigns among others to recover more than 15 percent of abandoned carts. The company provides a JavaScript tracking code, which is added to their websites to track users’ behavior. When customers start using the website, the tracking code enables the e-commerce company to gather customer data, and if they add products to their carts and suddenly leave the website, a series of automatic emails are sent to follow up on the products in carts. “We focus on notifying the shoppers with the right message at the right time to bring customers back to the website or checkout pages,” says Brett Thoreson, founder of CartStack.
In a bid to help e-commerce organizations recover lost sales, CartStack uses different techniques with their campaigns. They use A/B Split Testing to compare two versions of the same email and identify the best version to notify the users.
We focus on notifying the shoppers with the right message at the right time to bring the customers back to the website or checkout page
The test’s results help clients in determining a creative subject line and body of the email that can help bring them back to websites over time. A/B Testing helps to enhance the content of the email gradually and in turn, increase the engagement rate with the buyers. CartStack also offers an Enrich Contact Record (ECR) that gathers additional data of the users through third-party databases and creates compact profile pages. ECR provides qualitative information about the users and helps online retailers run email campaigns.
The unique value proposition of CartStack reflects best through the success stories of clients the firm has worked with. One of CartStack’s clients—an online toy store website—witnessed high cart abandoned rates. Even though the client’s site was getting high traffic, the conversion rate was low. Customers would search for their favorite toys, add them to the cart, and then leave without making a purchase. Moreover, there were instances when a specific product page often had many page views, but the users didn’t add that product to the cart before leaving the website. CartStack assisted the client by setting up an abandoned cart email campaign that gathered users’ information from the website and sent notification emails resulting in the client witnessing higher conversion rate. Additionally, by using CartStack’s reporting tool, the client could identify technical issues with the checkout form and fix the problem to provide the customers with a seamless checkout process.
Over the years, CartStack has gained expertise in bringing back the customers to proceed with checkouts of the abandoned products. In the future, the firm intends to make their offerings more powerful and customizable for clients by leveraging machine learning. Further, CartStack is working on widening their ambit to analyze the browsed pages, product pages, and category pages to improve their services and eventually bring customers back to the websites.
