I love getting a deal when I buy things.
In traditional retail this usually involves me working on a sales person to give me something extra or the product I want for less than the sticker price. One technique I regularly use is to feign walking out of a store to drive better value for me.
While I am trying to get more value for less spend, the sales person is usually working on me to increase my spend through upselling.
These sales and negotiating concepts have been around for thousands of years in face-to-face transactions. However, they are still juvenile for online selling.
Shayne Tilley provides some great online upselling tips which provide online retailers with practical ways to increase the spend of the consumer by promoting products that the customer may find valuable at different stages of the sales cycle.
Retailers must also consider the customers, like me, who sometimes don’t even get to the virtual cash register; the abandoned shopping cart. Industry sources suggest that more than 7 out of 10 shopping carts are abandoned – that’s a big number!
Many online retailers lack appropriate abandoned shopping cart strategies. That is, people who walk out of an online store because they didn’t find the right value mix; right product at the right price.
There are a number of techniques for dealing with customers who abandon their shopping carts, including using email and/or web site pop ups to:
- offer free shipping
- offer a discounted product price
- offer an additional free or discounted product
- remind the customer that they have items in their shopping cart
- and ultimately give them an opportunity complete their transaction with ease
Another perspective on this topic to consider is that some customers use shopping carts as their electronic wish lists and were not intending to purchase immediately.
What other abandoned shopping cart techniques have you seen that work well ?