A round up of the Meet Magento UK Conference
There's good news and not so good news, let's get the not so good news out of the way: Less than 1% of new customers will buy! Once they are aware of you however they become prime for conversion and this is where the good news comes in:Serial abandoned carts are more likely to convert that a one time abandoner. So, referring back to the 1st stat, yes less than 1% of first time visitors will convert but this is just the way the internet now works there are multiple paths to conversion so as retailers we just need to target these channels and get them coming back through and working them up to a conversion or a serial abandoner at least there is intent there.The advice is now that like in the Magento loyalty programs post , it is no longer a channel but a touch point and we now need to touch the prospect multiple times and they ultimately need to be nurtured through the sale.
All of these points lead us on to one thing: remarketing
Top converting traffic sources out of those that are returning to the site will be via the abandonment email an email that is sent after a customer has abandoned their cart. Typically these are sent 24 hours after the customer has finished shopping yet those who have *just* abandoned will convert highest so these emails need to be sent within the hour think back to what you were doing this time yesterday is the same thing your highest priority? Apply this to your customer. According to Charles Nicholls. - 72% will buy in first 12 hours which makes it a critical time to remarket
Final Word
As Etailers, we do have to accept the fact that abandonment is part of the purchase cycle but abandoning is better than not putting anything in the cart at all!If you missed out, have a look at our round up of Meet Magento UK 2011
