Booking abandonment is big business with the latest research showing billions are being lost every year in abandoned bookings. Abandonment happens when a customer starts a booking but doesn’t finish it, leading to lost revenue. Why bookings are abandoned and how to re-market to close the bookings have become a focus of merchants and marketing professionals.
Why bookings are abandoned.
In our experience bookings are abandoned for a number or reasons:
– Price: The price is withheld to the final confirmation page giving us a surprise.
– Extra fees: We’re told the price but at the end extra fees are tacked on like ticketing fees, organiser/venue fees or surcharges.
– Booking process: The booking form is too long or asking questions that are difficult to answer or that I don’t want to answer. If making multiple bookings I keep on having to reenter my details and answering the same questions again, leading to frustration.
– Distraction: I get distracted by an ad or something else on the page and don’t return to my booking.
– Lack of Information: I start the booking but am not given enough detail about the event or venue and leave due to uncertainty.
How to get the booking across the line
The most obvious solution to prevent bookings from being abandoned is by addressing each item above. This will dramatically reduce the amount of abandoned bookings but most likely won’t stop them all together. The next step is to re-market.
Re-market to your customer with a targeted and personalised approach. For example you may want to set up the option to remind customers that the closing date for the booking is approaching and to complete the booking before time is up. Or you could give them a call to follow up and confirm the booking for them. Not only does this remind the customer of their booking but also gives you the opportunity to engage with the customer in a helpful manner, leaving them with a positive impression. It’s estimated that over 10% of abandoned bookings can be recaptured if re-marketed to.