by Akhil Pathania
Let’s start by defining what "Abandonment" means and as pulled from salescycle.com site:
Cart abandonment is a major problem. Talk to any retailer or service provider and they would be willing to let go their arm and leg to stop abandonment. The average Ecommerce store loses over 77% of its sales to cart abandonment. Some industries experience average cart abandonment as high as 82.1%.
These rates represent the percentage of customers who left behind their order instead of purchasing.
Initially, the challenge was to find out "Why" customers were abandoning their carts! In the recent years, the software market has been flooded by a host of solutions which can record customer sessions, which can then be investigated to find possible reasons of abandonment. As the popular saying goes "A problem Well-Stated is Half-Solved", using these solutions we can find out "What" went wrong, "Where" it went wrong and then comes the challenge of "How" to fix those issues!
Out of various solutions available in the market, IBM Tealeaf stands out and has been a trusted solution for a number of medium-to-enterprise level customers. It enables you to know the "What", "Where", "Why" and the "How". And once we have all these answers, we are not far away from fixing those challenges and give customers one less reason to abandon the cart.
While nothing can be done about the customers facing connectivity issue (4%), the remaining 96% can be tackled and attended to and even if conversion goes up only by 0.5%, your investment has yielded a positive result.
Using effective email marketing a lot more than 0.5% can be achieved and we have many success stories to share. However, in order to eat the whole cake, something more proactive is required and that's where our Chatbot solution comes into the picture.
Running email campaigns to recapture the lost audience does work but its effectiveness is driven by how soon the customer is contacted and if by then they have not already gone to a different site and made the purchase! In order to satisfy the customer, the problem has to be resolved the very moment it happens, before customer gives up and starts looking for options.
Royal Cyber solution makes use of Tealeaf & Chatbot to achieve this level of satisfaction:
A customer would have the option of letting the Chatbot assist on the chat or someone gives a call to resolve the scenario.
There we are, we have a happy customer now and on top he/she is impressed with the level of service and commitment exhibited.
At Royal Cyber, we have a dedicated R&D team which works around the clock to come up with solutions which resolve real-life problems. You may contact us at email@example.com