Did you know 68% of e-commerce customers who put items in their cart fail to complete their purchase? This eye-opening statistic is one of the big reasons you should start thinking about new ways to convince consumers to come back to your website after abandoning their shopping cart.
If you're not actively working to improve your abandonment rate, you're leaving money on the table. Marketers and business owners that proactively communicate and build rapport with their audience see a higher return on investment (ROI) and generally see a higher customer retention rate.
Today we are going to take a look at several ways you can improve your shopping cart abandonment rate. Specifically, we are going to look at ways to make your website more accessible while removing surprises and stepping up your existing marketing strategy.
Remove unexpected costs
Unexpected costs can dramatically increase the number of people that leave their cart without making a purchase. A survey conducted by Baymard concluded that 53% of consumers abandoned their shopping cart in the last three months due to unexpected costs at checkout.
Let's be honest; we have all found ourselves in this position. You're browsing an online store and decide to add items to your cart. You get to the end of the process and see that after shipping and taxes, the price is nearly double what you anticipated. Do you begrudgingly finish the order, or leave the website? Odds are, if you went through with your order, you’d look for another brand that doesn’t add on extra fees next time.
You never want to put your consumers in this situation.
Removing unexpected costs doesn’t mean you have to lose out on profits either. Adding a shipping calculator to your website can give users a more realistic expectation before they check out. As a result, they are more likely to stick around and finish the transaction.
Send an email reminder
Another reason consumers leave websites with items in their cart is they get distracted by things going on in their life. Our smartphones are constantly dinging when we get new emails, text messages, or social media notifications. Due to this constant stream of information, consumers are likely to get distracted while browsing your online store.
You can convert almost half of these consumers if they are on your email list. Studies show that abandoned cart emails have an impressive 48% open rate.
There are several things you should keep in mind when sending our emails reminding customers that they've left something in their cart. First, personalization will increase the odds that the subscriber opens the message. Simply adding names on your reminder emails can improve your open rate by 21.92%.
It's essential that you're not too pushy about your reminder emails. Some consumers forgot to complete their orders, while others decided that they weren’t interested. We suggest sending a total of three email reminders over a week.
Finally, don't forget to show the item the consumer added in the email with a CTA that will bring them back to their shopping cart. As an added bonus, you can include social proof from other customers that have left reviews on your site.
Seeing social proof can trigger fear of missing out (FOMO), a psychological phenomenon where people feel inspired to buy a product or service because they don’t want to miss out on a great deal. Studies show that on social media, about 56% of users experience FOMO.
Complicated checkout forms and signup pages can stop potential customers in their tracks. Streamlining your on-site navigation will ensure that consumers can quickly and easily sign up, browse your online store, and complete their order.
The first area you should look at when working on your site navigation is cart visibility. When people come to your site and add items, they expect to have access to their cart without navigating to a separate page.
Amazon is one of the best examples of a business that shows users exactly what’s in their cart before they check out. If you want to see the items you've added and your total, simply hover over the cart button at the top right side of any page on their website.
Next, take a look at the form users have to fill out to sign up or complete their purchase. How many fields do you have under each section? Ideally, you should have at most seven fields. The more information consumers have to provide before they can complete their purchase, the less likely they are to abandon their cart.
It's vital that you improve the speed of your website to enhance UX. A slow site can have a negative impact on the ways consumers navigate your online store, resulting in higher than average bounce and abandonment rates.
Step up customer service
Your customer service strategy is one of the most important decisions you'll have to make as a business owner or marketer. Consumers expect businesses to have 24-hour support if they have a question or concern. Failing to meet these needs will absolutely result in more people leaving your site or ignoring your brand in the future.
If you can't have live support agents available every day, consider adding chatbots to your website. Combine a comprehensive chatbot strategy with a detailed FAQ and help page, and you can keep many of the consumers around that were ready to leave.
Chatbots can take common issues and give users a direct answer or send an article that addresses their concerns. The best part about this technology is you can use it on your website and social media.
There's a good chance your brand has a strong social media presence. You would be hard-pressed to find a company that doesn't actively try to grow their business using platforms like Facebook and Instagram. Consider that over three billion people use social media, and it's easy to see why this strategy is so crucial to business owners across all industries.
If someone finds your brand on social media first – which is likely – you'll want to make sure that you can answer questions via direct messages. This tactic is particularly useful if you actively promote your prices and products on social media. When people are on the fence about taking advantage of an offer, a robust customer support team supplemented with chatbots can improve your chances of converting customers that may otherwise abandon your website.
Cart abandonment is a problem that affects marketers and business owners across all industries. Our goal is to convert as many customers as possible by offering them a value proposition that they can’t find anywhere else.
As your business grows, you may see a shift in consumer behavior. Analyzing your analytics and social media data will help you pinpoint when customers leave your website, which can help you identify new trends. For instance, if you see that over half of your visitors bounce from your checkout page, it’s time to do an in-depth analysis and find the source of this issue.
Building strong relationships with your customers is pivotal to the success of your business. Understanding why people are leaving your site can help you make smart, proactive decisions that keep more people invested in your brand and reduce your cart abandonment rate.