Online companies are reporting an average cart abandonment rate of 68%, and for the most part, webshop owners are simply accepting this trend, as opposed to trying to discover why it’s happening, or how to solve the problem. It’s difficult to imagine that being the case, if more than two thirds of customers at the local grocer filled carts, and then left the store. Why then, are owners of webshops not trying to solve these issues?
Return on Investment
Some shop owners may not realize how high the ROI is for investments on increasing your conversion rate (how many site visitors become paying customers). Whether you are actively investing in customer conversion, you have a cost per lead, which can include any website and inventory costs, among others. When you double your conversion rate, you cut the cost per lead in half. This will, in turn, increase your profit more than enough to make up for spending a small amount investing in a service that will help you double the conversion rate.
Doubling your website’s conversions, you’ll see fewer and fewer abandoned carts, dropping your own cart abandonment statistics, regardless of the international average.
Customer Engagement Will Lower Abandonment Rates
Lowering the cart abandonment rate takes only one step for most online shops – increasing their customer engagement. There are plenty of ways to do this, but with 83% of cart abandoners stating that they would have continued had there been interaction to help them through the purchase process, it’s safe to conclude that increasing their engagement through one-to-one interaction will help steer them in the right direction – purchasing the items in their carts.
Brad Smith of codelessinteractive.com reports that customer engagement is a common “missing link” for webshops’ marketing campaigns. He says that engaging your customer is the piece of inbound marketing that many companies aren’t catching on to. (You can read Mr. Smith’s full article here.)
The Codeless Interactive article offers five ways to increase customer engagement, the fifth being increased interaction. Smith gives the example of using calls-to-action to increase your interaction and conversion rates, but what if you could take that a step further, and actually interact with your customers? Just imagine if the numbers flipped, and your webshop actually had 68% of its visitors purchase items from their cart!
A Solution is Available
Customers don’t wish to waste their own time, any more than you like to see all those abandoned carts. Clearly, change will is necessary and will help both the customer and the company. The initiative to make these changes can’t come from the customers – which means it will have to come from the webshop owners.
The newest way to engage your website visitors, based on the way those customers are using your website, is with the bmetric tool. Not only is bmetric easy to set up on your website, it’s everything you need to open a conversation with leads that are most likely to make a purchase.
For instance, you can set up your bmetric account to ensure that the pop-up happens when a customer visits a certain page, is about to leave the website, or when they add their first item to their cart. This allows you to ensure you’re only investing in the customers you believe will be most likely to continue through to completing the purchase, and not those that are “just browsing.”
By having a trained customer service agent approach your website visitors, you can have their questions answered, as well as creating the personal bond with your shop that doesn’t happen as often online as it does in the outside world. That bond is often the difference between a sale and an abandoned cart – between a loyal customer and a frustrated one.
If you’re interested in hearing more about how bmetric can help your website, please take a look at www.bmetric.com.