Solutions to convert abandoned cart leads are critical for revenue generation for e-commerce businesses because they directly impact the conversion rate and overall revenue. When a product is added to the cart, but the purchase is not completed, it represents a missed revenue generation opportunity. The team at the company was actively working towards optimizing the conversion rates for customers who had abandoned their carts.

These were some of the challenges they faced - 

Lack of Data Visibility 
They did not have a clear understanding of their existing qualification % (the percentage of leads that are likely to convert and have shown positive outcomes that indicate a high probability of them completing the purchase) which made it difficult for them to improve their processes and scale up. 

Tackling both inbound and outbound leads
Their in-house team was overwhelmed with handling reach outs to a high-volume of inbound and outbound leads that often resulted in missed opportunities. 

Poor Conversion Rates
They were only able to convert 20-25% of the abandoned cart leads in the absence of a streamlined process and dedicated telecallers for this use-case. This meant that a significant portion of the leads remained untouched leading to loss of potential revenue. 

Solution

How SquadStack Helped

They leveraged SquadStack’s fully managed and data-driven telecalling stack to focus on the high-volume of outbound leads. 

‍Prioritizing high-intent leads
‍They were unsure about the percentage of leads that were actually interested in making a purchase, which made it difficult for their in-house team to prioritize their efforts. SquadStack’s telecallers opted for a system-driven outreach approach to ensure no leads were overlooked and left out. The lead scoring system powered by A.I. made sure high-intent leads were prioritized. 

‍Better connectivity rates
‍Timely follow-up is crucial to convert dropped-off leads. SquadStack achieved a whopping average connectivity of 87% and an average response time of <24 hours.

‍2x Lead Conversions
‍The improved outreach process led to 2x lead conversions as compared to their organically converted leads. More than 55% leads were converted within 48 hours of the cart being abandoned and delivered 8x ROI.

‍Complete Data Visibility 
‍In addition to the system-driven approach to outbound calling, SquadStack offers robust analytics through an easy-to-use dashboard that gives the team complete data visibility and transparency into every step of their campaign.