With the fast growing and ever evolving business of selling online, one of the greatest fears of online store owners today is on the subject of ecommerce cart abandonment.
As the competition gets stiffer, the worries about cart abandonment rates climbing increases. But as the more people whine about higher cart abandonment rates, the more ecommerce grows, which creates increasingly more opportunities if you see things the right way.
Quite simply, to prosper in ecommerce means looking for a pragmatic way of benefitting out of this cart abandonment problem.
My only answer to this is the fact that it generates opportunities for the most enlightened and smart store owners. The simple truth is, a deserted cart in one shop will lead to an actual purchase in another. Wouldn’t you like to make yours the actual shop for purchase?
Statistics uncover that 99% of shoppers do not make a purchase throughout their first stop by at any online store. Also, 80% of visitors on any website are surfers alternatively than shoppers. Out of these, 25% are in reality visitors not considering buying. But, an impressive 75% are serious buyers who survey the marketplace and then get back to one of the online selling websites to complete their purchase. So, if you do the right research and make good use of data found, you will benefit from the last group of people, around 75%, who get to come back.
How can I ensure that they come back to my store?
While searching for solutions to reduce shopping cart abandonment, it’s critical to assess the reasons customers leave your site without completing a purchase.
According to Shopify, these are the top 10 reasons for cart abandonment:
- Presented with unexpected costs (56%)
- I was just browsing (37%)
- Found a better price elsewhere (36%)
- Overall price too expensive (32%)
- Decided against buying (26%)
- Website navigation too complicated (25%)
- Website crashed (24%)
- Process was taking too long (21%)
- Excessive payment security checks (18%)
- Concerns about payment security (17%)
Bearing these in mind, if we decide to categorize this list we would wrap up with two standard reasons which are: Shoppers who are displeased with your website’s functionality and high charges, and those who are yet to make up their minds about buying anything.
What methods can I use to reduce cart abandonment?
Improve your payment methods. Sometimes people try to escape from complicated payment methods. They want easy and simple ways to buy things online.
Show shoppers an offer right before they leave. Just before people leave your checkout process, you can make a good offer and request for their email address. Concentrating on abandoners with an exit-intent popup can prevent them from leaving instantly.
Make your checkout process simple. Online shoppers have a tendency to be comfortable adding low-cost items to their carts but are put off when they see unexpected checkout total. All you need to do is to avoid concealed fees whenever you can.
Use retargeting to bring back abandoners to your site. More often we assume that if someone has liked your product and added it to the cart, they’ll remember it. Unfortunately most times they won’t. Remember, out of sight, out of mind. Re-targeting is a superb way to remind your lost shoppers about the items they’ve left out on your site.
Send a well-timed follow-up email. When it comes to cart recovery emails, timing is almost everything. In truth, it is as vital as sending the email itself. Preferably, you will need to send your email within a day of them checking out so that the prospect’s near purchase is still fresh in their mind.