Conversion Rate Optimization - Zeroing Out Cart Abandonment Effects
If there's any key lesson we've learned about the e-commerce industry, it’s that you can get a faster ROI high without having to launch campaigns on too many marketing channels. That’s possible because of conversion rate optimization. Many e-commerce retailers today see the shopping cart as the point where the customer’s journey ends in their funnel. And that's a big issue because that section of the funnel requires lots of investment, yet it provides room for leakages. In 2018, Digital Commerce 360 even found that more than $23 billion gets spent by marketers in order to get customers to their shopping carts. But the sad truth is, all that investment only ends in a disappointing 2.63% conversion rate on average. That shows that the bottom of the sales funnel is where most of the leaks happen for e-commerce brands. So it means that the shopping cart phase of the customer’s journey through your website is where most of them tend to leave. And that's...