Cart abandonment is the pain point of all e-commerce store owners. Despite your closely devised plans and best quality products, customers start adding products to their cart and suddenly something pulls them off and they abandon their cart. Now the “SOMETHING” that makes them abandon their cart can be attributed to many reasons few most popular are:
According to Statista, cart abandonment rate as of the second quarter of 2018 was 75.4% combined in all the sectors.
There are numerous strategies to reduce cart abandonment, but here I’ve listed 5 most effective and easy to implement hacks to decrease cart abandonment on your e-commerce store.
It is a solid strategy to scale your product prices with a margin to cover the shipping cost of the product.
A study by Forrester shows that 44% of carts are abandoned because of shipping and handling costs.
Your customer navigates through hundreds of products from hundreds of online stores, and choose a product satisfying his/her need and budgetary constraints. It’s psychologically frustrating to find the additional shipping cost associated with the product at the time of checkout. Hence your customer abandons the cart out of frustration.
You don’t want to do that with your customers and yet you don’t want to pay the shipping cost from your pocket, so you need to create an illusion of free shipping by marginally increasing your product price to cover the shipping cost.
Your goal is to make purchasing on your store simplest and lightning fast. To accomplish this goal, you need to avoid forcing your customers to sign up to buy a product.
You need to make your checkout process frictionless.
You should offer a guest checkout option, in which your customer can order products without signing up on your store. Customers will add the product to cart, and click checkout. You will take the most basic information i.e. phone number, email, and shipping address. Then ask for mode of payment and that is it, the order is placed.
After the order is placed, ask them if they want to save this information for future orders. If they select yes then ask them to fill out a complete signup form.
Trust issues destroy lives. Similarly, it destroys your conversion rate.
A considerable amount of your visitors abandon their carts because they don’t trust the vendor for giving their credit card numbers and other financial details for payments. People don’t want to risk their hard earned money.
It is your responsibility to build the trust of your customer. Perform the following actions and you’ll be on the right path to build customer trust.
Ordering through your store should be as simple as the following 3 steps:
Also, avoid long signup forms. Ask your customers to enter the most basic information and let them sign up. Eventually, ask them to complete their profile from time to time.
Like Facebook doesn’t ask you to complete your profile all at once. Instead, it lets you create your profile with basic information and then as you keep using Facebook it notifies to complete your profile.
Some carts are destined to be abandoned, but they can still be recovered by personalized remarketing.
Remarketing refers to marketing to a customer who is already aware of the product. While personalized remarketing means not only marketing the product a customer is aware of but also marketing a product the customer might be interested in.
For personalized remarketing campaigns, you can use Facebook ad campaigns targeting custom audiences with custom build ads for the products they abandoned in their carts and other personalized products they might buy. Place Facebook tracking pixel that can track user activity and identify the products a user abandoned in the cart.
Also, you can use services like Personide to send personalized emails consisting of abandoned products and personalized product recommendations to recover abandoned carts and make more sale alongside.
According to a research conducted by Dynamic Yield, 71% of consumers believe personalized experiences would influence their decision to interact with emails.
Cart abandonment remains to be the most vital problem faced by e-commerce store owners. In a study by Forrester, it is found that 88% of consumers admitted abandoning their carts without completing the transactions.
With such a high percentage of abandoned carts, your aim should be to minimize cart abandonment at the first place, or recover it if it’s already abandoned.
You need to make sure that,
Make sure to follow these guidelines, and you’ll surely observe a deep dip in cart abandonment rate.