What is the name of the company and/or product? Where is it found online?
The name of our company is CartStack and it lives at CartStack.com
What problem does this solve?
CartStack helps ecommerce companies re-capture lost sales due to shopping cart abandonment. Studies show that about 70% of all carts created are abandoned by consumers before completion of checkout. That’s huge opportunity loss. As site owners know, it’s very difficult and expensive to get someone to your website. And when you finally get there, it’s even more difficult to get them to make a purchase. So once you’ve moved the user to that point you have to do everything in your power to turn them into a paying customer. We automate this process with a simple yet effective re-marketing system. CartStack sits behind your existing e-commerce process and can be integrated in less than 30 minutes.
What is the full launch/release date planned?
Our service is live right now with beta customers and we’ll be taking more over the next few months.
Who is on the team?
Dave Mattson: Built the abandoned cart system for one of the biggest retailers in the country.
What is the specific technology or combination of technologies that makes this run? Is there any IP?
Is there a revenue model? How big is the market? How will you scale?
We charge based on the number of emails that our system sends out per month. We offer several pricing tiers ranging from $30 to $500 per month. We offer a full-featured 30-day free trial for all users. The market is very large. How many e-commerce sites do you know of? We are also exploring other verticals like online reservation and ticketing systems. Essentially, if there is a checkout process or a multi-page form, we can increase the conversion rate.
What is your greatest strength?
Math. It’s proven that if you re-market to abandon cart users with optimized campaigns you can re-capture 15-25% of them. That’s a major boost to the bottom line. It just works. Also, our ability to integrate into any system/website in just a few minutes separates CartStack from many other solutions.
What is your biggest weakness?
Distribution on a bootstrap budget. We’ve seen a lot of success when we are able to demo the product; it’s all about the velocity of getting in front of people. We are currently building a sales force to help with this.
What is one resource you could use to take this to the next level?
A talented SaaS salesperson.
Is there anything else you would like to add?
We also offer a white-label version of the system that allows agencies/clients to manage multiple CartStack integrations from one interface. Agencies can resell CartStack to increase their recurring revenue from their existing client base.