Top of the Post 📥 

Hello, entrepreneurs!

It’s been an action-packed week 🙌 

• Podcast: Optimize Your Health and Energy as a High Achiever

• Biz Hack: Shopping Cart Abandonment & Ways To Fix It

• Biz Essentials: Smart Spreadsheet for Every Business Need

• Save the Date: Networking Events Worth the Hype

But first, a tour of the headlines…

Weekly Catchups

News | Industry Insights | Trends

•  🔴 Adobe in Trouble

  The U.S. Department of Justice sued Adobe for allegedly trapping customers into a year-long subscription without properly disclosing hidden fees. Adobe also charges an early termination fee for the plan which can cost hundreds of dollars, according to the filing. The company has more than 60% of the global market share in application development.

• 📲 Injurious to Health

  U.S. Surgeon General Vivek Murthy this week called on Congress to require a tobacco-style warning for visitors to social media platforms. In 2019, APA found the proportion of young adults with suicidal thoughts or other suicide-related outcomes increased by 47% from 2008 to 2017, when social media use among that age group soared

• 🔢 $5,901,700

  The fine that California slapped on Amazon for failing to disclose worker productivity quotas. This is the first application of a 2022 labour law that was created to address concerns about the e-commerce giant’s workplace practices and treatment of its hourly employees.

Biz Hacks

Strategies | Tools | Marketing Tips

Fixing Shopping Cart Abandonment

The Problem: A common hassle for an e-commerce retailer, Shopping cart abandonment is when a prospective customer begins the checkout process but does not complete it. 

In Statistics: Around 70.19% of online shopping carts are left deserted, according to the Baymard Institute. That's a significant chunk of potential customers slipping through the grasp of a retailer.  

Let’s Get to the Hacks🔨 

➡️ Smooth Checkout:

According to recent studies, 85% of all abandoned shopping carts occur on mobile devices. It’s critical to ensure a seamless checkout experience that is significantly designed for mobile devices.

➡️ Multiple Payment Options

• Core Options: Offer credit and debit card options as a must-have. Additionally, include popular digital wallets like Apple Pay and Google Pay to cater to a wider audience.

• Strategic Expansion: Go further to integrate popular local payment options in specific regions you're targeting for international sales. Alibaba, for example, features Alipay- China’s dominant digital wallet. 

• Weigh Fees vs. Conversions: While processing fees might rise with more options, the potential increase in conversions can offset the cost.

➡️ Win Them Back

• Remarketing Campaigns: Utilize retargeting strategies to reach out to potential customers who abandoned their carts. Employ social media ads or emails with personalized offers to re-engage their interest and encourage them to complete their purchase. Grooming brand Rudy’s remarketing emails are a case in point.

• Example Email Subject: "Forgot Something? (Your Brand Name)"

• Email Body: Steal this template
  Hey [Customer Name] (if available), We noticed some goodies left in your cart! Still interested? Click here to snag them: [link to cart] Use code BACK10 for 10% off - expires in 24 hours! ⏰ Happy shopping! The team at [Your Brand Name]

Biz Essentials

Stay Ahead of the curve

• One thing to see 👀 7 visuals that will rewire your brain.

• Engage 🗣️ Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain.

• Musings 📚 Stanford duck syndrome: How the myth of effortless genius hurts learning

• Productivity ✏️ We’re not saying you should download these smart spreadsheets and present them as your own at your next big meeting. That’s why they’re here, though.

  Ten team-ready templates👇️ 

  • Marketing budgets

  • Blog and social content calendars

  • On-page SEO tracking

  • Google Ads strategy

  • Service-level agreements (SLAs)

  • And much more

Don’t Miss It!

Networking | Business Development | Entrepreneurship

Feedback, please!