Customer Experience

How Self-Storage Operators Use Abandon Cart Emails To Recover Revenue

June 14, 2024
5 minutes

Abandoned carts are a significant concern for online businesses, including self-storage operators. When potential tenants leave without completing their reservations, it results in lost revenue. However, savvy operators can use abandoned cart emails to recover these lost opportunities.

In this article, part of our series "How To Run A Self-Storage Business: 5 Strategies To Drive Unit Rentals," we will explore how self-storage operators can leverage abandoned cart emails to maximize their revenue.

The Psychology Behind Cart Abandonment

Understanding the psychology behind cart abandonment is an important part of crafting effective recovery emails. Tenants abandon carts for various reasons, such as distraction, indecision, or technical issues. When operators address these psychological barriers, they can create more compelling and persuasive follow-up emails that can often lead to recovered revenue.

People often have a fear of commitment, even when it comes to something as simple as reserving a storage unit. They might add a unit to their cart but hesitate to complete the transaction in the hope of a better deal or more information. Recognizing this, self-storage businesses can use abandoned cart emails to reassure potential unit renters and provide the necessary information to nudge them toward completing their reservations.

Analyzing The Reasons Behind Cart Abandonment

Before crafting effective abandoned cart emails, it’s important to analyze why prospective tenants are abandoning their carts in the first place. Common reasons include unexpected costs, complicated checkout processes, lack of trust, or simply forgetting about their cart.

Using tools like swivl, self-storage operators can gain insights into tenant behavior on their websites. swivl helps track user interactions and engage prospective tenants throughout the booking process. Operators can tailor their abandoned cart emails to address specific concerns, such as by offering discounts, simplifying the checkout process, or providing additional information about security and trustworthiness.

5 Best Practices for Abandoned Cart Emails

When it comes to constructing effective abandoned cart emails, self-storage operators should consider following some best practices:

1 - Timely Follow-Up

It makes sense to send the first email within a few hours of cart abandonment to keep the reservation fresh in the prospective tenant’s mind.

2 - Personalization

You should use the tenant’s name and reference the specific unit they were interested in.

3 - Clear Call-to-Action

Make it easy for prospective tenants to complete their reservations with a prominent and straightforward call-to-action button.

4 - Incentives

Consider offering discounts or special deals to entice prospective tenants to return and complete their booking.

5 - Reminder Series

Use a series of emails (typically 2-3) to remind tenants about their abandoned cart, with the final email creating a sense of urgency.

How To Create The Perfect Abandoned Cart Email (6 Key Elements)

Creating the perfect abandoned cart email involves several key elements:

1 - Compelling Subject Line

Grab the prospective tenant’s attention with a subject line that piques their interest.

2 - Personalized Greeting

Address the prospective unit renters by name and acknowledge their interest in a specific storage unit.

3 - Visual Appeal

Add images of the storage facility or unit to remind potential tenants of what they are missing out on.

4 - Concise Copy

Keep the email short and to the point, highlighting the benefits of the unit and addressing any common concerns.

5 - Strong Call-to-Action

Make sure the call-to-action button is easy to find and clearly guides the potential tenant to complete their reservation.

6 - Trust Signals

Incorporate tenant testimonials, security assurances, and contact information to build trust.

How To Measure The Success Of These Campaigns

To measure the success of abandoned cart email campaigns, self-storage operators should track several key metrics:

Open Rates

This is the percentage of recipients who open the email.

Click-Through Rates

This measures the percentage of recipients who click on the call-to-action.

Conversion Rates

This is the percentage of recipients who complete their reservation after clicking through the email.

Revenue Recovered

This measures the amount of revenue generated from recovered reservations.

Final Thoughts

Abandoned cart emails are a powerful tool for self-storage operators to recover lost revenue. When operators understand the psychology behind cart abandonment, analyze the reasons, and follow a few best practices, they can create compelling emails that drive conversions. Utilizing tools like swivl can enhance these efforts, providing valuable insights as prospective tenants interact with your website.

This strategy is just one of the five outlined in our series, "How To Run A Self-Storage Business: 5 Strategies To Drive Unit Rentals."

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