Online retailers lose an immense amount of money every year due to Shopping Cart Abandonment. Meaning: Visitors fill their cart with items, but then leave without completing the purchase.
Baymard Institute released a web research, where they stated that:
[tweetthis]67.45% of online shopping carts are abandoned[/tweetthis]
WHY DOES IT HAPPEN?
Cart abandonment actually shows an opportunity for online retailers to RETHINK their payment process. For example, these are the main cases why online shoppers leave without paying:
It’s likely that one or two of the facts mentioned above might be one of the reasons why customers are abandoning your cart. But there could be other reasons specific to your business.
THE IMPORTANCE OF CUSTOMER BEHAVIOUR
You need to know the behaviour of your visitors. You need to know why they are abandoning their shopping carts and at what stage they are doing it. But what are the options for learning more about visitor behaviour?
Use Google Analytics to track shopping cart abandonment. It is an extremely powerful tool that is used by over 10 million websites.
Set up goals and a funnel in Google Analytics that will help you identify the path your customers take to conversion. Goals allow you to define and track objectives, which could be anything: a visit to a certain page, filling out a form or more. A funnel is a path a visitor is expected to take when completing a goal. This, of course, helps to determine where customers are “dropping out”.
Trust is a crucial part when it comes to shopping online. When you lose your customer’s confidence, you lose a sale. You can ask customers about how confident they feel about the purchase and the steps they need to go through. When should these questions be asked? For instance, one of the newest way to engage with your visitors is with the bmetric tool that helps you set up pop-ups when a customer is on a certain page and needs assistance. Not only is Bellmetric easy to set up on your website, it’s everything you need to open a conversation with the leads that are most likely to make a purchase. This can solve customer confusion, which of course helps with building trust!
Test out your user experience (UX) and find out whether the checkout process needs improvement. Here are a few design tips that might help:
- Less content – Content rich pages distract customers from their purchasing task, you don’t want to overwhelm them with too much information.
- Show the process – Checking out is a multi-step procedure, so make sure the users are informed about what step they are in and how many there are to go.
- Add buttons – For example, if you add a “back” button, the user knows that they have the option to go back and change data they entered. This can prevent mistakes that tend to happen during checkout. Also remember to add a “remove” link next to items (making users type the number 0 is not that convenient and obvious). When these mistakes happen, a “continue shopping” button also comes in handy. This way, when a user spots a mistake, they can correct it and then press continue.
TRY OUT NEW THINGS
After you have more facts on your customer behaviour, there are still some tools you can look into to reduce shopping cart abandonment. One of them is: abandoned cart emails, which are emails that are sent to a customer who has added products to their cart but failed to check out. It is exceptionally effective as a sales recovery tactic.
According to dotmailer, almost half of all abandoned cart emails are opened and lead to purchases back on site.
Here’s an example:
Read more on how abandoned cart emails will save your business
Remember that your customer behaviour can always change and it’s something you need to keep an eye on and test on a weekly basis for improvements. Now put it in your to-do list!