Imagine the mayhem brick and mortar retailers would have to deal with if more than half of their customers just left their cart in the middle of an aisle. It would lead to chaos and managers and customers pulling their hair out. While that scenario would likely never come to pass, it’s a reality online retailers have to deal with every day. According to the Baymard Institute, roughly 67.44% of shopping carts are abandoned online.
Whether it’s unexpected costs, inefficient speeds or the customer was really just not looking to make a purchase at the time, there are many reasons people are abandoning their carts. Whether it’s reducing shipping costs, or giving your website a complete overhaul, there are ways companies are working to lower their abandonment rates that you can implement today.
1) Shopping cart recovery emails
When the customer has clicked “I agree” to see offers and promotions from your company, you have free reign to offer them emails that are targeted to bring them back to their abandoned cart. That’s why it’s always important to gather their email information at the very beginning of the checkout process. Your email should feature customer testimonial, solid advertorial copy, call to action, photos of the product, and a button taking them back to the checkout.
2) Avoiding Tunnel Vision
You or your website developer have taken a lot of pride in producing a great looking website. But like any large project, we must always be weary of tunnel vision. When you are solely focused on the strengths of something you’ve built, the negatives that could be detracting from your business can be forgotten or dismissed. Get an outsiders input or go through and try to checkout a product and assume this is the first time you’ve ever come upon your website.
3) Comparing to your Competitors
Look at a competitors website and compare how fast and simple it is to check out for a similar product. Notice some of the layouts, language, load times and offers they are providing. If you find it is operating more efficiently, than it’s time to address the weaker areas of your website and optimize your site for higher conversion rate efficiency.
4) Optimize Your Checkout Process
After looking at some of the bigger online retailers, you’ve probably noticed that their online checkout process contains some of the following elements:
1) Progress Bar
Many of your competitors likely have progress bars that show how far along the customer is in the checkout process. Checkouts aren’t something a customer want’s to be focused on for too long, so they appreciate a light at the end of the tunnel.
2) Site Speed
You know how annoying is the color wheel or the loading screen can be. Make sure your website isn’t giving your customers any reasons to pull their hair out by eliminating any load times on your website.
3) No unnecessary fields
It’s important to streamline the checkout process as much as possible. Customers could be intimidated by the long list of information they have to input into your checkout forms. Look to some areas in your site for fields that may not be important or could be removed or hidden to make the expansive list of things your consumer has to enter much shorter.
4) Give Them Something to Trust
Consumers can have a lot of anxiety and concerns at checkout that if not addressed can lead to an abandoned cart. Smaller businesses lack the certain amount of recognition and trust that mega retailers have. These businesses need to remove some of the doubts that their payment security may be at risk.Try to include some testimonials, trust seals, return policies or any other recognition your website has achieved to provide the consumer with a little more trust during the checkout process.
5) Start a conversation
Many online companies have utilized the chat widget typically positioned at the bottom corner of the screen. This widget gives you the opportunity to have a conversation with the potential purchaser in the checkout process. You can address any concerns they may have and try to steer them in the right direction.
56% of all abandoned carts come from consumers becoming surprised with unexpected costs. This is the leading cause of cart abandonment troubling online retailers. You can offer any deal you want on your website, but when it comes time to present the consumer with shipping costs at checkout, they are more likely to flee the scene in order to find a more cost effective way to purchase their item.
It’s important to find way to lower shipping costs. As you’ve noticed, free shipping offers are common among mega retail giants as consumers are 30% more likely to purchase an item with free shipping. ShipGooder has a real time shipping rate comparison tool that allows you to find both the fastest and cheapest shipping options available to help lower your shipping costs and increase conversion rates on your website.