Is your business struggling with online cart abandonment? Your business is not alone. Only 20% of online shopping sessions end in an actual sale. While it is frustrating when customers don’t finalize a sale, you don’t have to lose their business forever. Customers add things to their online carts because they are interested in them; it’s up to you to bring them back.
Why You Should Have an Abandoned Cart Strategy
The most challenging part of acquiring new customers is getting people interested in your products and services. Online shoppers aren’t adding specific items to their carts for no reason. They wanted to purchase your products, but something halted the sale. The most common reasons shoppers abandon their carts are:
- The total was more money than they wanted to spend at that moment
- Delays that are unrelated to making a purchase, like work, childcare, or other personal duties that interrupted their shopping session
- Unexpected shipping costs
- Lack of payment options
- Poor website user experience
Reengaging customers who have already interacted and expressed interest in your products will likely make a future purchase. Therefore, directing marketing efforts towards retargeting abandoned cart shoppers is more effective than trying to get the attention of new customers. Cart abandonment is an unavoidable obstacle for e-commerce brands. However, that data helps boost sales later on.
Retarget Abandoned Carts with Streaming
Customers who abandon their carts due to cost or distraction are prime targets for future advertisements. CTV platforms offer detailed audience tailoring features, including retargeting previous website visitors. Retargeting ads use IP addresses to identify cart abandoners and show them ads for your products. This strategy is an excellent way to remind shoppers about your business and encourage them to finalize the checkout process. CTV’s audience targeting tools allow you to specify exactly who you are paying to see your video ad, including those that have started shopping on your site.
Streaming Retargeting Ad How-To
Reach customers who have abandoned their online cart with CTV video ads. Follow these advertisement tips to get the most out of CTV’s retargeting features.
- Make sure your video is under 30 seconds to meet CTV ad requirements.
- Offer a special discount that can only be used by returning customers.
- Tease customers with new product releases.
- Personalize CTV ads to include items that have been abandoned in carts.
An effective abandoned cart strategy is essential for all e-commerce retailers. Capitalize on shoppers’ interest by reintroducing them to your brand in a CTV ad.