Are You Losing Revenue to Shopping Cart Abandonment? - Revinate

Are You Losing Revenue to Shopping Cart Abandonment?

We’ve all been there. You’re shopping online, you add something to your cart, and right before you check out, that friend you’ve been playing phone tag with for a month calls, so you answer. That precious item in your cart is left stranded, off to the island of misfit checkouts, doomed to a life in purchase purgatory. Like it or not, you’ve just committed shopping cart abandonment.

Not to worry, you’re far from alone. Shopping cart abandonment rates are 42% higher than they were in 2021. The good news? Projections are they will begin to improve over the next year. Many prospective guests are in the initial phase of planning where they are just looking, doing some price comparison, or still need to check with others in their travel party before they book. So how can you capture those guests?

Nudge them in the right direction

There is a silver lining to abandoned carts. Un-booked guests aren’t arriving empty-handed when they visit your site. They bring with them a wealth of their data. Revinate’s Shopping Cart Abandonment solution (SCA) can capture and add that data to your CRM for immediate follow-up. In fact, our data shows that SCA generates 3 to 5 times the number of leads available for voice or email marketing versus booked guests alone.

In most cases, all these prospects need to finish booking is a friendly reminder that the accommodations they left stranded are still available and eagerly awaiting them. Often, a simple email is all it takes. Revinate SCA follow-up emails convert around 15% of the abandoned guests on average, but they jump to 19% with agent participation. These newly captured leads are highly qualified and conversion rates are often even higher.

Proof it works

For instance, Nemacolin Woodlands Resort reported conversion rates of 40% on their SCA-generated leads, and over a quarter of a million dollars of direct booking revenue in just eight months. Banyan Tree Mayakoba reported $2,930 in revenue per booking and 38% conversion from their SCA-generated leads. To top that off, Spectrum Resorts reported over $600k of recaptured revenue from the SCA email campaign.

Ready to join the ranks and start capturing those otherwise lost leads, generate 3 to 5X your normal lead volume, and convert up to 30% of your abandoned web traffic? Get in touch with us now.