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- Cart abandonment is a major problem for hospitality businesses. The average cart abandonment rate for hotels is 68%, which means that for every 100 guests who add items to their cart, only 32 of them will actually complete the booking.
- A cart abandonment workflow can help to reduce cart abandonment rates and recover lost sales. By sending targeted emails to guests who have abandoned their carts or inquiries, businesses can remind them of their interest in the property and encourage them to complete their booking.
- A well-designed cart abandonment workflow can be highly effective. Studies have shown that cart abandonment emails can increase conversion rates by up to 40%.
- A cart abandonment workflow can be easily implemented and managed. With Yada, cart abandonment is an automated process that uses guest information and context about their inquiry to follow up and drive conversions.
Here are some of the benefits of having a RevAI cart abandonment workflow for your rental or hospitality business:
- Increased revenue: By recovering lost sales, businesses can increase their revenue.
- Improved customer satisfaction: Guests who are reminded of their interest in a property and are encouraged to complete their booking are more likely to be satisfied with their stay.
- Improved brand reputation: Businesses that are seen to be responsive to guests' needs and concerns are more likely to have a positive brand reputation.
- Reduced marketing costs: By reducing cart abandonment rates, businesses can save on marketing costs.
We would encourage all our users to consider implementing a cart abandonment workflow. It is a simple and effective way to recover lost sales, improve customer satisfaction, and boost your bottom line.
- Personalized emails. Workflows address guests by name and include information about the specific property they were interested in.
- Offer a discount or incentive. These activate when there is no other option and when pricing is approved (usually 5-10% discounts)
- Track your results. Monitor your cart abandonment rates and see how your workflow is performing. Make adjustments as needed.