Lowering the cart abandon rate is a significant issue for ecommerce sellers. It's easier for shoppers to stop making a purchase when online, compared to when they are in a shop where social pressures can force a customer to make a purchase after they’ve entered the transaction process.
Research from across the board finds that cart abandon rates can be between 60% to 80%. Yet bringing this down and getting these people to convert is important. It can help increase your revenue and improve profit margins without significant cost to you.
Lower Your Cart Abandon Rate
The first step should always be to lower the number of people who aren’t completing transactions. There are numerous reasons why someone might decide to abandon a purchase and by looking at these individually we can assess how to make changes.
So, let’s look at these reasons and what we can do to improve your website’s performance!
1. Price Increases
Customers expect the price they are originally quoted when looking at a product on your website. If you then add delivery charges or taxes to the cost, your customer will be shocked. It will certainly make them think twice about the purchase and could deter them.
The only way to combat this is to clearly state the price for any taxes and delivery up-front before customers proceed to the checkout. Amazon is great at this. In fact, at times, their baskets will come out cheaper than originally stated – pleasing and beating customer expectations.
2. Website Data And Security Problems
There are so many examples of customer details being stolen by hackers and other insecurities on websites that shopping online is becoming a major concern for consumers.
If you can’t persuade your customers that their data is safe with you, then you are going to lose sales. To combat this, you need to ensure your retail store has an SSL certificate and it is installed on your website.
3. Customers Have To Leave Their Computer
There are times when we need to drop what we are doing and immediately start another task. These moments can be unpredictable and hard to combat.
By shortening the purchasing process, you will increase the chance that customers will complete their order before something urgent comes up.
4. Pricing Issues
Some people might go through the checkout process to see what the final price will be and then go somewhere else for price comparison. This might mean that a competitor gets the sale just because they offer a better price than you do.
You can’t always offer the lowest price. But you can offer better service. Remember that any purchase isn’t just for a product, it is for your customer service as well.
Provide award-winning customer service and customers will be more likely to remain loyal to your business.
5. No Guest Checkout
Sometimes people don’t want to be a member of a website to make a purchase. They would rather make a purchase as a guest and decide later whether they want an account with you or not.
If you can’t offer a guest checkout on your site, you’ll be alienating those who don’t want accounts.
6. Limited Payment Options
Although small businesses are often limited by the number of payment options they can offer, customers are fickle with their payment choices and will sometimes have a preferred method and most of the time won’t stray from it.
Therefore, comply with customer expectations and offer as many ways as possible to accept payment, and remember to increase your options as and when available, as your business grows.
7. Limited Shipping Options
Just like with payments, shipping options need to match customer requirements. Sometimes they need next day delivery, at other times weekend deliveries are required.
Whatever delivery they want, they need to see that it’s available on your website.
8. Not Mobile Friendly
A mobile friendly website is a must for your business. Not only will it help people find you on search results, those who are making a purchase on a mobile device will appreciate it.
In fact, if your website Is not mobile friendly it can lose you sales, so speak to a developer about converting your website into a mobile friendly site.
When People Still Abandon Their Cart
Even if you optimise your site as much as possible for lower cart abandon rate, there will be times when people leave the purchasing process. This can be a significant issue. However, you can bring them back to your site with one simple tactic: re-engagement (cart abandoned email campaigns).
A simple piece of software can be bought, installed on your website and then you can send emails automatically to customers who abandon their cart. There are several tactics you might use to entice them back such as:
- A small discount.
- Urgency on limited stock.
- Free shipping.
- A free gift.
This won’t bring back everyone, but it might bring back a few, and for a limited expense.
Time To Lower Your Cart Abandon Rate
Any e-retailer will experience some customers who abandon their cart. The trick is trying to minimise the rate and encourage prospects who have abandoned their carts to convert to a customer with a swift email marketing campaign.
What you can do will always depend on your circumstances, but you can always speak to us about your options.
Are you suffering from a high cart abandon rate? What steps are you taking to minimise the issues?
Let us know in the comments below.