Imagine you are in a brick and mortar shop ……
After you’ve loaded your cart, are you likely to throw your stroller aside? Leave the store without buying anything.
Rare. It’s correct?
But that’s not the case when you shop on an ecommerce website. You can easily discard your shopping cart without having to put each item back on the shelf. After all, it’s a virtual store.
But for owners like you and me, that means a high cart abandonment rate.
What is cart abandonment rate?
Number of people who have added items to their cart, but they leave your ecommerce site without checking out. That is your cart abandonment rate.
Cart abandonment rate formula
According to the Baymard Institute, the average online shopping cart abandonment rate is calculated to be 69.57%. This is based on 41 different studies containing ecommerce cart abandonment statistics.
7 out of 10 people will leave without buying anything
This means that out of 10 people, nearly 7 will leave without buying anything!
Imagine all the revenue you could get from this.
Isn’t it wasteful? I mean, the fact that they’ve added these items to their cart means they’re just one step away from getting to their destination.
But what made them decide to leave?
There are many factors that lead to this behavior, some of which are due to prolonged check-out or simply a change of mind.
The top 3 reasons for cart abandonment rate are the high extra fees, the need for a membership account, and a tedious checkout process.
Cart abandonment is unavoidable. There will always be people who decide to give it back at the last minute for whatever reason and you don’t really have control over it. However, don’t let this be a hindrance to achieving more sales and higher conversion rates. What you can do is reduce cart abandonment rates, and you can get started by improving certain features on your ecommerce website.
If your client lacks motivation to cross the finish line, don’t just wait for them. Give them a friendly push to get past the finish line.
Now that you know that there is still hope in saving your cart abandonment rate, let us guide you through the process.
Here are 10 simple ways to minimize cart abandonment.
1. Use social proof to increase credibility
Website A: e-commerce platform endorsed by a Hollywood celebrity
Website B: e-commerce platform without endorsement
Both site A and B are selling the same speaker you’re considering buying. Which e-commerce platform will you buy products from? I think the answer is quite simple. You will choose to purchase from site A.
Why is that?
That is the power of social proof. When in a situation of uncertainty and lack of confidence, people tend to see others as a measure of their own behavior. Likewise, reviews and testimonials from previous buyers serve as a powerful source of credibility for new buyers looking to buy a product. This not only removes any doubts or doubts, but also gives the user the confidence to make a purchase, thus increasing your conversion rate and average cart abandonment rate
Users mainly rely on these social proofs to make decisions.
This goes to show the importance of social proof and its ability to influence your user’s decision to purchase products from your ecommerce site. So if social proof has such a power and ability, why not leverage on it to improve the credibility of your products and reduce your cart abandonment rate?
2. Create seamless navigation between shopping cart and store
In a brick and mortar shop, you will usually get what you need before making a payment. You don’t often find yourself doing a lot of trips between cashiers and products.
However, this is unlikely to happen on an ecommerce website.
On an ecommerce website, you can easily switch between the checkout and product pages whenever you want. It is not a linear process. Difficult or rough conversions can frustrate users, and this can cause them to leave your site, increasing their bounce rate and cart abandonment rates.
By eliminating this difficulty, you will create a good user experience for your users and keep your bounce rate low. This not only helps to increase your conversion rate, but also keeps users coming back due to an enjoyable experience, building a loyal customer base.
3. Allow customers to pay
28% of users abandon their cart during checkout due to a need to create an account.
Source: Baymard Institute
Why kick your users away when they’re about to buy? Mandating account creation will not only decrease your cart abandonment rate, but will also increase your conversion rate.
By doing so, it will only make the checkout process slower and prevent your users from making a smooth transaction. You might be worried about not being able to get more details about your customers, however, that’s not a big deal. You can still get their basic info like their name and email address at checkout, you can use this information to create a better shopping experience for them in the future.
By allowing guests to checkout, you will make the user’s shopping experience smoother and remove as much friction as possible. With a good user experience, they will definitely come back for more and shopping cart abandonment rate.
4. Make your checkout process as easy as 123
The long and complicated checkout process is one of the top 3 reasons cart abandonment rates are high. Nobody likes a long and tedious payment. Everyone wants it to be fast and fast. In that case, grant it to your users.
Simplifying the checkout process and reducing the number of steps the user has to go through will make the transactional process better. This includes minimal page conversions and crawl. In fact, you can do all of this in a single page. All a user has to do is select a product, add it to their cart and click “checkout”. Simple as that. Regarding your checkout page design, it should follow these 3 steps.
5. Show progress bar at checkout page
In line at a brick and mortar shop, you can see how close or far you are to the cashier’s counter. The short queue can satisfy you or the long queue can make you leave. Likewise, users will appreciate the indication of their checkout progress on the ecommerce website.
By displaying the progress bar at the checkout page, users will know where they are in the checkout process, eliminating any worries or worries. Just like how the checkout process becomes as easy as 123, the progress bar must also show the exact number of steps in the process. With that said, it should be as short as possible.
Simple 3-step payment process
As seen above, the progress bar has 3 simple steps. Delivery, Payment and Review. This will make the checkout process clearer and simpler, allowing users to not only better understand their actions, but also reduce your cart abandonment rate
6. Use reliable signals to evoke a sense of security
Currency trading is a very sensitive issue. When you ask users to pay for products, you’re asking them to trust you with their personal information, such as their credit card number. You need to show them that you can trust that information. What better way to do so than to use security icons like the one shown below.
17% of consumers do not trust e-commerce websites with their credit card information.
Source: Baymard Institute
Their concern is understandable, considering how popular online scams are these days. Your job is to allay this anxiety and doubt. Displaying these privacy icons can increase conversions by up to 42%. This is a great opportunity for you to increase your conversions.
The position and size of the logo is also important to establish trust. It should be clearly visible, especially at the checkout page where the user prepares to pay. It should also be large enough for users to notice, but not too loud to disrupt the overall user experience.
These privacy logos serve as a trusted beacon to the establishment that your ecommerce website is trustworthy and secure. This will keep your users’ minds at ease and build good rapport with them, again reducing your cart abandonment rate!
7. Include a thumbnail image of the product
Imagine you are in a supermarket. You have filled your shopping cart with about 15 items. Now, you shouldn’t remember all 15 items. But at any given moment you don’t remember what you took, you can easily look at the stroller to see.
However, the luxury of being able to see and feel products in an actual store is not something that can be achieved in an ecommerce store. It’s not uncommon for users to forget what they’ve added to their cart. How then can you replicate this traditional store experience on your e-commerce website?
It’s simple. Show thumbnail images of their products in the cart and at the checkout page!
The thumbnail has the ability to remind users about the products they’ve added to the cart, thus eliminating any doubts or confusion that might arise when they forget the product. Furthermore, this prevents users from abandoning their shopping cart as they are assured of what they will pay for. Images are processed 60,000 times faster than text. Users will be able to know what they’re buying at a glance instead of having to read the description, making them more convenient and more secure. This is a win-win situation for both you and your users, providing them with a satisfied shopping experience while reducing your cart abandonment rate.
8. Provide many payment options
At the final checkout page, where a user is ready to pay for their product, they realize that they can’t do so due to the lack of available payment methods. Why give this opportunity for your users to abandon their shopping cart when they have the intention to buy? What a waste! At this last critical stage, you should eliminate any obstacles between the customer and a satisfying shopping experience.
If you only offer a single payment method, you’re creating trouble for yourself.
6% give up their shopping cart due to lack of payment method.
Source: Baymard Institute
56% of respondents said that multiple payment methods will encourage them to buy.
Today, there are many ways to use payments, such as basic credit cards (e.g. Mastercard, Visa, etc.) to newer mobile payments (i.e. Apple Pay). By offering a variety of payment methods, you eliminate conflicts and any other potential payment issues that could cause your customers to abandon their cart and reach one of your competitors. your painting. This not only helps reduce your cart abandonment rate, but also creates a pleasant and seamless shopping experience for your customers.
9. Use Exit-Intent technology
Users may leave your ecommerce website for a variety of reasons, be it distraction or last minute hesitation. There is no harm in trying to get your users back if they try to leave.
Purposeful bounce pop-ups can be a very effective way to reduce cart abandonment rates and increase your conversions. It is activated when a user tries to leave your website and a pop-up message will be displayed to encourage and convince your users to stay, such as the one shown below.
By incentivizing your pop-up notifications with a offer or targeting your users according to their browsing history, you can create a targeted message to engage your users. This not only convinces them to stay, but also encourages them to buy. It’s so easy to create a purposeful exit popup with many benefits, namely the ability to retain users and reduce your cart abandonment rate!
10. Follow up with cart abandonment emails
Even with an exit pop-up, your users can decide to leave your ecommerce site. But not all hope is lost. Users who have added items to their cart have the intention or at least interest in those products. Since they have already shown interest, it would be a waste not to follow this up.
28.3% of total e-commerce revenue comes from successful cart abandonment emails.
The skipped cart email achieves a conversion rate of 4.64%.
Source: 99 firms
The cart abandonment email tracking can be used to remind users that they have unfinished purchases. Your users may forget sometimes but that’s okay. The email will prompt them to return to your website to complete the purchase. Of course, if this doesn’t work, there’s always an alternative!
You can track down the second email that contains discounts or offers for your users. This serves as a powerful incentive for users to complete a purchase and reuse their discarded cart. Personalizing these emails based on the user’s items in the shopping cart can better target them and create a more satisfying shopping experience. This will not only reduce your cart abandonment rate, but also increase your conversions and sales.
The cart abandonment rate is 69.57% and this is a nightmare for any e-commerce website. It’s a pity that you are losing a lot of potential sales just from cart abandonment and need to recover lost sales from this. There are many reasons why users abandon their shopping cart. Find out why and you should be able to come up with a solution.
Of course, if you take the above suggestions into account, you’ll sign up to reduce cart abandonment rates and increase your conversions. Being able to re-engage your users and their sales is not an easy feat, but don’t worry, Leadee.ai is here to help!
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