Introducing our New Cart Abandonment tools

At CM Commerce (previously Receiptful), it is our goal to build the tools that help Ecommerce stores like you supercharge all of your customer interactions.

Naturally, that made our newest product release a no-brainer. Today, we’re excited to announce our latest Premium tool: Cart Abandonment Emails, which will help you recover potentially lost revenue. Depending on who you’d like to believe, the industry average for shopping cart abandonment is about 70%.

That means that, at the moment, upwards  to 70% of your customers are walking away from their filled shopping carts during checkout, right before they commit to their purchase.

Heck – we’ve tracked more than 4 million abandoned carts for our users in the last month (whilst we’ve been building this functionality), which represent millions of dollars in lost sales.

Why is CM Commerce in the perfect position to power this customer interaction?

First, we believe in building marketing tools for marketers. This means that there should never be any code involved to activate our tools, there should be one dashboard from which to manage all customer interactions and the tools should mostly just work (and make you money) in an automated way.

Beyond this though, there are a couple of things that set CM Commerce apart:

• We have a beautiful, intuitive, drag & drop e-mail builder (which already powers your e-mail receipts and follow-up e-mails);
• Our integrated marketing components have generated more than $5 million in additional revenue for our customers; and
• We can segment your customers and use your historical customer data to further optimize every interaction.

Let’s talk about the new Cart Abandonment tools specifically…

We’ve included a few new tricks & features specifically for cart abandonment to really supercharge these tools. Below, we highlight some of our coolest features:

• Our Cart Abandonment emails use “Campaigns” (or Email Sequences), which basically means that every customer that abandons a cart will receive a series of predetermined emails (with a time delay which you specify) in a Campaign. If however the customer reacts to the first email in the sequence and completes their purchase, we’ll intelligently stop the Campaign and cancel the remaining emails in the series.
• You are able to use our Customer Segments to send different Campaigns to different types of customers. One of the best ways to apply this to your marketing efforts is by treating First-Time Buyers & Repeat Customers differently, especially if you include a discount incentive in your Campaign. In that scenario, you don’t want to necessarily offer Repeat Customers a coupon, because that might incentivize them to abandon their carts because they will expect to receive a win-back coupon days later.
• All of the data related to your abandoned carts will be at your fingertips. We have tried our best to be fully transparent about the cart data that we capture and how we attempt to recover that purchase.

Proven Success & Performance-based Pricing

We have been working with a handful of high volume customers to test these different features whilst we add final touches to make our new Cart Abandonment tools perfect for marketers. And while in beta, we’ve helped 6 stores recover $10k (in only a week) in otherwise lost revenue from shoppers who weren’t quite ready to complete their purchase the first time around.

Since there is a clear, quantifiable success metric for Cart Abandonment (“The amount of revenue from abandoned carts that we can recover”), we are augmenting our existing CM Commerce Premium pricing structure to include a performance-based commission.

To take advantage of our Cart Abandonment tools, you will need a CM Commerce Premium subscription. In addition to that base monthly fee, we charge a small 2% commission on the revenue that we recover. That also means you get to keep 98% of the spoils. Plus, we’re adding a complete log of shopping cart data to your dashboard to be fully transparent about how we calculate that commission.

Getting Started

For existing CM Commerce Premium customers, these new tools are immediately available on your dashboard. Just log in and activate the Default Campaign we’ve created for you.

For new CM Commerce Premium customers, start your free 14-day trial and send us an email to help you implement any of our Premium tools.

Happy Cart Recovering!