Each e-commerce website relies on the ability to attract customers and encourage them to make an online purchase. After all, that’s how e-commerce owners make their money. But what about those visitors who browsed your website, and put a bunch of items into their cart but never made a purchase? These visitors not only lower your conversion rate and profits but also cause lost sales. This might leave you wondering why they didn’t follow through and how you can change this.
According to Baymard Institute, the average cart abandonment rate across all industries is 69.57%, meaning that nearly seven out of 10 shoppers leave your website before completing a purchase.
Despite the best efforts of marketers, customer service teams, and other stakeholders, some customers will inevitably change their minds during the buying journey and leave without hitting the ‘buy’ button. This could be due to a variety of factors such as price, availability, or simply because they changed their minds. That is why you will need to have an effective abandoned cart recovery strategy in place.
In addition, to help you improve your abandoned cart recovery rate strategies include enabling guest checkout, enhancing the mobile checkout experience, sending emails to those who’ve abandoned carts, using trust signals, and more.
Here are a few important strategies every e-commerce business should implement if they want to avoid having abandoned carts.
Enable Guest Checkout
The process of making a purchase on your website should be as simple as possible. You risk driving customers away from the transaction if you force them to create an account or provide detailed information. You should remember that not everyone is willing to create another account, manage an additional password, or remember another username.
By allowing customers to checkout as guests, you are making it easier for them to complete their purchases. Although account creation is a great way to build your database and create long-lasting customer relationships, you should never sacrifice a sale to do so. You can build revenue by prioritizing the convenience of your customers.
Enhance Your Mobile Checkout Experience
Statista estimates that by 2024, 187.5 million Americans will use their smartphones to shop. Mobile devices also account for the largest rate of shopping cart abandonment compared to other channels such as tablets or computers. Since mobile shoppers make up the majority of e-commerce customers, and those who abandon carts, you must enhance the mobile experience.
To remove any friction and enhance the user experience, you should pay attention to how the checkout flows look and function on smaller mobile screens. Remember that simplicity and speed are essential.
Send Abandoned Cart Emails
Abandoned cart emails are automated messages that buyers receive when they add items to their carts but don’t finalize their purchase. They are usually sent to customers whose email addresses were shared during the checkout process, or as part of marketing communications. Abandoned cart emails are a great way to remind shoppers of items they’ve left behind and re-engage them.
Personalizing the content of your abandoned cart emails based on customer behavior and activity is crucial for their effectiveness. Include strong call-to-action buttons to create urgency and send your emails strategically, ideally shortly after the abandonment of the cart or the next day. By trying out different timing options, you can find the ideal window to maximize your conversion rate.
Multiple Payment Options
Customers love it when online shops are flexible when it comes time to pay for their products. People prefer to use payment methods that they know or have benefits from. You increase the chances of your customers completing purchases when you offer them multiple payment options. If you only offer a few payment options, customers may not want to buy from you and they might even reconsider their decision.
Use Trust Signals
You should always use trust-building strategies when asking prospective consumers to fill out forms or do other things. You can improve the abandonment rate of your shopping cart by adding trust signals to your website.
When asked for sensitive information such as a credit card, users might hesitate and this is understandable. You must respond to their skepticism before you can gain their trust.
Trust signals are designed to assure clients that the information they provide is safe with your company, even though they may not appear impressive at first. These are used by many retailers, so it’s a smart idea to incorporate these elements into your site.
Free shipping is one of the best methods to prevent customers from abandoning purchases. When a customer completes the checkout and discovers an unexpected shipping cost, they’re likely to abandon the cart. Be sure to clearly state your shipping policy on your site, if you have one. Also, clarity about the conditions for free delivery will help you retain and attract clients.
Shopping cart abandonment is a key issue and you shouldn’t neglect it at any cost. If you’ve seen too many of your customers abandoning their cart midway without completing the purchase, use the above strategies as a way to decrease your shopping cart abandonment rate and entice your visitors to become loyal customers.