Retail Forum, Denver, CO
What a great time we had last night at the Retail Forum here in Denver, Colorado.
Ross Kramer, CEO of Listrak flew out here, along with Derek Neff, Channel Manager for Listrak to meet with eCommerce Design firms like us. They brought their latest research study on Shopping Cart Abandonment and Recovery.
All-in-all it provided us great insight into how most online merchants are failing to follow-up on abandoned shopping carts and how those merchants who are following-up with a series of emails, are seeing phenomenal abandonment recovery and conversion rates.
Your sweet spot for shopping cart recovery is right within your first 24 hours. We should however, be careful not to offer our biggest incentive right-off-the-bat but rather build our offers as we go. Online merchants should be specially careful to be consistent and keep it short and simple.
Representatives from Magento where also present and one of their selling points was the level of integration they have with Listrak. Such as the ability to pull product reviews when the abandoned shopping cart has items with 3.5+ stars on reviews.
Listrak also integrates with one of our favorite shopping carts, 3dCart.
Listrak closed the night with their best offer, paying for all of our drinks! That sure was nice of them.
As time goes, we will share with you more details on the case study of Shopping Cart Abandonment conducted by Listrak on the IR1000 companies.
Till next time!