10/14/2021 New Industry news
Last chance, low in stock, almost gone - these are all buzzwords that draw online shoppers’ attention. Not wanting to miss out on a good opportunity, they’re quick to buy. Emails are an often underutilized yet efficient tool for helping to recover abandoned carts. Research has shown that 45% of cart abandonment emails - also called Second Chance or Last Chance emails - are opened, 21% of all are clicked on, and 50% of the users who clicked purchased something afterwards.1
Shopping cart abandonment and Black Friday
For ecommerce, shopping cart abandonment is the equivalent of brick-and-mortar's 'window shopping'. Did you know that almost half of all potential purchases end up incomplete because people merely scroll around, compare prices, save items for later, etc.?2
The shopping cart abandonment rate in Europe is currently at 70%, worldwide even higher.3 Think about it - for every 100 potential customers, 70 of them leave without purchasing. While these rates generally hold steady throughout the year, they are highest in October and November around days like Black Friday and Cyber Monday.4 The reason behind it is simple: Before and during Black Friday and the whole holiday season, we see businesses offer daily deals and discounts, trying to persuade shoppers to pick up a bargain. As they’re expecting potentially better deals coming up, hitting the ‘buy now’ button is unfortunately not the logical next for customers after adding an item to their cart. Let’s look at ways of how to recover abandoned carts and increase your sales this Black Friday with Second Chance emails.
Second Chance emails with MultiSafepay
Second Chance emails help you win back uncompleted transactions in your online shop. With Second Chance enabled, customers will automatically receive two emails within the first 24 hours after abandoning the payment process without completing the purchase:
- The first email after an hour
- The second one after 24 hours
The Second Chance email contains a payment link that will lead them back to where they left the payment process. With just a few clicks, customers have the opportunity to complete the initiated purchase.
Benefits of Second Chance
Without requiring any additional time from your side, Second Chance emails help you to
- Increase conversion rates (10.7% complete their purchase afterwards5)
- Potentially increase your overall revenue
- Boost impulsive purchases
- Offer a seamless customer experience by allowing customers to resume the payment process without having to repeat any previously completed steps
Well-designed emails in your look and feel
Lack of trust is one of the main reasons for shopping cart abandonment. If customers have doubts about your webshop's trustworthiness, it doesn’t matter how great your product range and services are; they are very likely to shop somewhere else.6
One of the most important ways to build trust and reputation for your webshop is to create a coherent and authentic appearance across all channels. Our Second Chance emails can be completely customized to match the look and feel of your online shop by adding logos, adapting fonts, etc. Your customers will be more inclined to click on a payment link if they recognize and trust your brand.
Personalized shopping experiences
Sending emails is a great way to create personalized shopping experiences and strengthen customer relationships.7 Customers nowadays, younger demographics like the Generation Z and Millennials, want to be seen as unique individuals and demand personalized, seamless services and experiences when shopping.8 With Second Chance, you can target them based on their previous views and preferences and send direct payment links. This allows customers to resume the payment process without having to repeat any previously completed steps, and adds to a seamless and personalized shopping experience.
Get ready for Black Friday 2021
With more than 20 years’ experience in ecommerce and a variety of digital payment solutions and features, let MultiSafepay help you adapt to your customers’ demands and stay ahead of the market. MultiSafepay merchants can activate and customize Second Chance mails in their MultiSafepay account. Stay tuned for Session #7 in our Black Friday series on building the perfect checkout.