One pain point that several of our eCommerce partners experience lies with their cart abandonment rate. With approximately 70% of all online shopping carts being abandoned during checkout, this is obviously a problem for eCommerce businesses. This high number begs the question: What can I do to improve my cart abandonment rate and gain more sales?
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Stop Abandoned Carts in your eCommerce Store!
Luckily for you, we wrote this blog to answer that exact question. If you get online shoppers all the way to the checkout, and then they vanish without a purchase, something is wrong, right? Let't take a more in-depth look at some ways we can reduce your rate of abandoned carts for your online store.
Tips to Reduce Abandoned eCommerce Shopping Carts:
Improve Your Checkout Experience
A quick and simple checkout experience that helps online shoppers complete their purchase without having to go through a bunch of steps is a great way to bring down your abandoned cart rate. Let's be honest, these days consumer's attention span is at an all time low so you want to make your checkout experience as quick and painless as possible. Swipe up purchasing through instagram or single-screen checkout processes can help here.
Eliminate Extra Costs
One of the top reasons for cart abandonment is due to extra or hidden fees that customers only find out about as they go through the checkout process. You want to be upfront with your charges, and keep it as simple as possible - sometimes just an added shipping cost is enough to cause a cart to be abandoned. Including shipping and taxes in the price of your product can be a great solution and can also make eCommerce consumers feel like they are getting an extra good deal because of it. Included tax and shipping can also be a great marketing point to advertise on.
Provide Little to no Cost Add-Ons at Checkout
On the note of making an eCom shopper feel like they are getting a good deal, adding a low or no cost add-on item at checkout can be a great way to encourage eCommerce purchasing. A pop-up that lets a customer know they're getting a free sticker, or an option to add an extra item at 50% off can be great ways to encourage completed checkouts and can increase your revenue as well. A free add-on is a great way to help turn a one-time eCommerce purchaser into a brand loyalist.
Retarget Online Consumers
Lastly, and maybe most importantly, you HAVE to be retargeting customers that have abandoned their carts. You have many different ways to retarget these customers, and it's critical you do so - especially since they made it so far down the eCom consumer's path to purchase. Oftentimes, a retargeting email offering 10% off of their cart is just the nudge the online shopper needs to complete checkout. This strategy is especially powerful when you consider that follow up emails with abandoned cart shoppers have an average open rate of approximately 41% as opposed to the under 20% open rate on other types of marketing emails.
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Get More eCommerce Customers to Complete Checkout
Remember, an online shopper that abandons their cart is about as warm of a lead you can hope for - you know they liked your product enough to start checkout and they almost made it to the finish line! They just need a little nudge from you to bring them all the way through the purchase process. Cleaning up and simplifying your checkout process, eliminating extra costs, providing add-ons, and retargeting are powerful methods to reduce your rate of abandoned carts for your online storefront. Start implementing these tips to start to see less cart abandonment and more sales in the future!
That's all for this week's edition of The New Yak Times, tune in next week and subscribe!
