Cart Abandonment Rate: 9 Tried and Tested Techniques to Reduce it
Setting up an online business is one thing while maintaining it is another. Irrespective of the niche, business needs to grow over time and make greater profits. Today online stores are enjoying all the limelight when it comes to offering better products, better discounts, and better shopping experience. Still, they are failing somewhere and it can be seen through the rising rate of cart abandonment.
The average cart abandonment rate for the eCommerce businesses reached around 84.24% during the first half of 2019. No doubt these digits are huge and it signifies the number of sales that the businesses lost at the last moment.
This means that cart abandonment needs to be tackled wisely and here are some tips you can follow to know how to reduce cart abandonment in a better way.
Different tactics to tackle cart abandonment
1. Go ahead with Exit-Intent Popups
In case your eCommerce site does not use this feature then it is the right time to go for it. You will be able to boost conversions at your online store by using exit-intent popups. You can install exit-intent popups on any page of your website. You can have it right on the product page or on the checkout or even on the shopping cart page.
This feature works by quickly spotting the moment when the user is about to leave the page. At this moment a popup message appears on the screen which encourages the user to stay back and shop by offering some additional information about the product or service, or even by offering some attractive deals.
So when someone is planning to abandon the cart and leave the store, it will come up with a striking deal. The deal message can be created based on the kind of product you have to offer.
2. Ease the navigation between the store and shopping cart
Customer behavior is not that as simple as its thought of. They don’t straightaway come to the site, find the product and get done with the checkout at lightning speed. Just like at the physical store, customers spend time browsing products aimlessly. They take time to find and select what they want. So it would always be better that you offer a direct and easy channel for shopping – right from product browsing to checkout. This will keep them away from distractions and stick them with their main plan i.e. to shop.
3. Ensure strong call to actions on the checkout pages
Several eCommerce sites out there do not offer any kind of calls-to-action on the checkout page of the site. The main reason for this is that the marketers believe that if the customers have managed to come this way long they will buy the product without any kind of additional push. However, you will be surprised to know that you will be able to pull the confused prospects to your side by offering strong calls-to-actions at the checkout. So if they are in the “still thinking” phase, they will be compelled to complete the purchase process.
4. Offer guest checkout
Let your customers shop their way. You should not be pressurizing them to create an account. Around 31% of the shoppers left the online store just because they were asked to give in details to shop. If the customer is in a hurry, he or she will leave without shopping, feeling that the whole process of creating the account is longer. Whatever information is required to create an account at your store will be entered by the user while filling up the details in the shipping section. So all you have to do is to ask the customer whether they wish to save them for future purchases or not!
5. Use email to re-market the abandoners
One of the finest methods to tackle the shopping cart abandonment issue is to remarket to your abandoners. This can be done by properly planning out remarketing campaigns. You need to understand that remarketing is very crucial for an online business. If you don’t go ahead with it, you will lose your chance to convert those potential shoppers who almost came close to completing the checkout process. Active Campaigns and MailChimp are two of the prominent service choices in this area you can ask for.
a) Sending automated cart abandonment emails is one such effective way to reach out to the potential customers. You have a better chance to collect the emails of all those people who managed to reach the checkout page simply by asking for the email address here. So if the user leaves the cart abandoned, you can easily contact them back. You can set up automated emails in response to their actions.
One of the emails can be sent immediately the moment when the user leaves the products in the cart unattended. Then during the next couple of days, you can plan out automated follow-ups emails that need to be sent. You can even have call-to-action included in the email so that the user can easily return to the website in a single click and complete the buying process. In case the user does not respond to the first follow-up email, you can have the next one send with an attractive discount deal.
b) The absence of proper chat support can lead to increased cart abandonment. Offering a live chat option will help to ease the confusion of the shoppers regarding the product, delivery or shipping process or the checkout process itself. This will ensure that they will not leave the checkout page looking for answers.
c) Every business tries to collect the email addresses of the customers when they are at the checkout page. Such email addresses are important to them as such eCommerce stores use them to send in deals, product information, product launch alerts, promotions, etc. However, such emails can only be sent to customers if they choose to have them delivered. This is where the opt-in checkbox at the checkout option comes into play. You can simply add in this checkbox at checkout and ask the customers to tick it to keep on getting valuable information and deals.
6. Promote urgency and scarcity
Motivation helps people to go the extra mile and things are not much different in the case of eCommerce business. You can develop urgency in consumers to purchase by creating scarcity. You can build this urgency either by displaying the number of units that are now left in the stock or by adding in a countdown clock.
Shoppers will buy the product when they know that only the last of a few units are left with you. This will create a fear of missing out on them. Now, on the other hand, if you are running some special deals or flash sales, the countdown timer will help you close sales quickly.
7. No shocks, no surprises
Do you know that high extra costs have been the reason for 53% of the cart abandonment? Unexpected costs remain one of the top reasons why visitors leave the product in the cart without buying it. Most of the time shipping costs or even taxes, shown at the end of the checkout process are what drives away potential customers. To avoid this situation, it would be better that you display those shipping charges when the user is browsing through the products. You can even plan to reduce the shipping fee or offer a discount on it when the customer reaches a said order value.
8. Show security badges, build trust
When shopping online, a customer puts in his or her faith in the business. Apart from spending money, they go ahead and provide crucial personal and financial information to the store. Over the years, a large number of consumers have suffered financial losses due to credit card security breaches.
This means if the customers fail to find security badges, they remain skeptical to go ahead and complete the purchase. So the only way to tackle this situation is to show all the necessary security badges to the consumers when they are in the buying process and thereby build trust.
9. Offer different payment options
Shopping experience plays a crucial role in keeping back the visitors engaged in your online store. For the same reason, you don’t want anything to affect it negatively. You need to understand that you can seem to be an obstacle between your potential customers and their shopping experience if you end up offering a single payment option at the checkout.
Credit cards and debit cards have remained “all-time favorites” of shoppers when it comes to shopping online. Apart from that, consumers are now open towards opting for other means too. PayPal remains a popular option when it comes to making online payments and it has to be said that Google Wallet and Apple Pay are getting a stronghold with time.
As the younger generation is more inclined towards choosing such payment options, you will be able to see the optimization of cart abandonment to a great extent when you offer varied payment options to the users. Now as a business owner you will have increased headaches to manage different payment options but, by providing more, you end up offering what customers want.
There is a fierce competition going on among the eCommerce businesses out there. This means your loss is another man’s treasure! So you must work towards opting for tactics that can help you reduce cart abandonment and bring in more business.