Webinar Special: Why Ecommerce Stores Leak 38% of Revenue — And How to Stop It | Why Carts Die At Checkout, How Declines Destroy Good Sales, What Chargebacks Really Cost You, Why Returns Quietly Drain Profits, How Store Credit Beats Refunds
Ecommerce stores are losing up to 38% of their revenue due to hidden profit leaks. This episode breaks down the ten major leaks, including cart abandonment, false declines, chargebacks, and product returns, providing actionable strategies to identify and plug these profit drains. Learn how to recover lost revenue and significantly boost your bottom line by optimizing your checkout process and return policies.
Key takeaways
Implement personalized cart abandonment recovery strategies, including targeted emails and human-powered text messages, to recapture up to 30% of abandoned carts.
Review and optimize your fraud filters to prevent false declines, which alienate legitimate customers and lead to lost sales, especially for customers with different billing/shipping addresses or new credit cards.
Understand that chargebacks cost 2.5x the original purchase and can lead to being flagged as a high-risk merchant, incurring higher fees and more false declines. Prioritize clear communication and easy refund processes over chargebacks.
Develop a strategic approach to product returns, focusing on reducing return rates and leveraging store credit instead of cash refunds to retain revenue and improve customer lifetime value.
Conduct a thorough audit of your payment processing fees, shipping costs, and customer service expenses related to issues like lost shipments and chargeback disputes to identify and minimize hidden costs.
In this episode, we uncover the hidden profit leaks silently draining revenue from ecommerce stores. Scott Brandley, CEO of Shopper Approved and Trust Guard, joins DJ Sprague, CMO of Shopper Approved and co-author of Cashflo, to reveal the ten revenue killers costing online stores up to 38% of gross revenue. They break down how issues like cart abandonment, false declines, chargebacks, and product returns quietly erode profit margins and share proven strategies ecommerce brands can use to r...
What does this episode say about conversion & cro?
Implement personalized cart abandonment recovery strategies, including targeted emails and human-powered text messages, to recapture up to 30% of abandoned carts.
What does this episode say about customer retention?
Review and optimize your fraud filters to prevent false declines, which alienate legitimate customers and lead to lost sales, especially for customers with different billing/shipping addresses or new credit cards.
What does this episode say about finance & fundraising?
Understand that chargebacks cost 2.5x the original purchase and can lead to being flagged as a high-risk merchant, incurring higher fees and more false declines. Prioritize clear communication and easy refund processes over chargebacks.
What does this episode say about conversion & cro?
Develop a strategic approach to product returns, focusing on reducing return rates and leveraging store credit instead of cash refunds to retain revenue and improve customer lifetime value.
What does this episode say about conversion & cro?
Conduct a thorough audit of your payment processing fees, shipping costs, and customer service expenses related to issues like lost shipments and chargeback disputes to identify and minimize hidden costs.
