If you had to share your major pain points as an e-commerce business, it’s likely that cart abandonment would land pretty high on your list. The average online shopping cart abandonment rate is over 70%. This means that for every 100 visitors to your website, only 30 of them will actually complete a purchase.
Picture this: You’re sitting at home shopping online. You're trying to buy something for yourself — maybe technology, apparel or even food. You find a 50% off discount. However, this discount is only available for the next 22 hours, and near the purchase button it tells you that ordering it within three hours will allow you to get free shipping.
This is an example of urgency marketing, or crafting marketing promotions in a way that drives immediate consumer response. As a brand, you’re familiar with this strategy. You likely already use it. But do you know just how many tactics fall into this category? And what types of flaws come along with their benefits?
Fast-food restaurants and mobile apps seem to be a recipe for success. After all, they’re both based on the beauty of convenience. But success isn’t always guaranteed. Even the most well-oiled QSR mobile apps can run into mishaps. What’s one worth avoiding? Not prioritizing data analytics.
Consumers have a tendency to appreciate things that are relevant to them. In marketing, this concept appears in the form of tailored messaging, familiar or nostalgic products or personalized content. It’s also present in consumer behavior. Feelings of missing out or a desire to protect what's theirs can influence purchase decisions.
