Ever since online shopping came onto the scene, shopping cart abandonment has been an issue. It is easy for customers to fill their virtual carts, only to end up leaving them to languish if they decide that they don’t want to complete the purchases. In fact, according to Baymar.com, already in 2016 the average abandonment rate for online shopping carts is a shocking 68.63%. As this statistic shows, deciding not to purchase items is no passing trend. However, with the growing popularity and complexity of online shopping, the question is how do you reduce shopping cart abandonment?
Although this trend is the bane of online retailers, it has been shown that with some savvy tricks and a little creativity, 63% of abandoned shopping cart merchandise loss can be recovered.
A large majority of shopping cart abandonment occurs at the moment of truth, right before your customer presses “purchase” with their mouse. Why? Well, that is another subject for a more in-depth psychological article. However, we do know that those who leave their shopping carts full before checking out are the easiest culprits of shopping cart abandonment to reel back in to complete their purchase. Knowing this brings us to the first simple solution to lowering your shopping cart abandonment rates.
Send an Invitation
Everyone likes to receive cute little notes, so send your customers a quick reminder that they’ve left their goodies behind, and your customers are likely to respond. Research has proven this again and again. Shopping cart abandonment e-mails typically generate a click-through rate of 14.2%, whereas “Traditional email marketing achieves an average click-through rate of around 4%, proving the importance of relevancy that basket abandonment e-mails deliver. Clean, responsive designs which incorporate strong brand imagery along with full product details typically perform best,” stated Dominic Edmunds, SaleCycle President.
Such a high click-through rate means that many, many of these reminder e-mails are being opened; 45.7%, to be exact. This is, in fact, 18% higher than the open rate for regular marketing emails coming from businesses.
Do these statistics mean anything? Absolutely! These high rates of engagement with shopping cart abandonment e-mails have led approximately one-third of previously abandoned shopping carts to be recovered. Broken down, this means that, per e-mail, you are generating over $6 in revenue.
Speaking of engagement, how do you engage your customer base on a deeper level than just superficial consuming?
Blog Content Strategy
It is proven that engaging your customers in a conversation is beneficial not only for your brand’s persona but also for your sales figures. Blogs and in-depth content give your brand a personality by humanizing it, and, by giving yourself character, you give your brand a competitive edge.
This competitive edge translates, unsurprisingly, into a lower shopping cart abandonment rate. In another study, a marketing team put this theory to the test. They began by developing an online blog with articles geared to align with their target audience’s interests and expectations. Once they had gained a substantial readership, they then began to ease off the quantity of articles in favor of more subject-specific quality articles. Making this change not only served to increase the depth of engagement with their customers, but it also made their site stickier, which, in turn, attracted even more customers.
According to this study, it turns out that having a blog that caters to your target demographic will not only convert customers into loyal clients, but can also help drive a 15% decrease in shopping cart abandonment. Once again, it shows that by engaging directly with your clientele and showing them that you are interested in them, you can make significant strides in reducing your shopping cart abandonment.
Visibility Is Key
Why is it that there is nothing difficult about walking your purchases up to a cash register in a brick and mortar store and paying for them? Because of visibility.
Cash registers always within eyesight from anywhere in a store, making it impossible for a customer to not check out and claim that it was “too difficult.” So why not make it that easy to shop online? Although it is simpler from a programming standpoint to keep your shopping carts on a separate page of your e-commerce store, sometimes using the easy button isn’t the right answer. Think about it. If you have to continually navigate back and forth between pages on a site to see what you already have in your cart, and then continue shopping, it can be frustrating. Therefore, eliminate these tricky gymnastics and your customers’ excuses and have your shopping cart visible to your customers at all times.
Ok, so perhaps you do want to still use that easy button. In that case, why not have the professionals help you? There are opportunities for you to both offer your customer with a simple shopping interface and you with a cinchy shipping solution.
Just like your customers don’t enjoy clicking through an unnecessary amount of pages to see their order status, probably neither do you. So why not do something about it? Try some new software that allows you to integrate all your sales channels into one streamlined dashboard so that you can make sure that your customers are getting all the products that they ordered as fast as possible. Great order fulfillment is another good reason to keep your patrons from leaving their shopping carts behind.
Don’t let your merchandise become abandoned. Fight the complexity of eCommerce that has caused this shopping cart abandonment epidemic head on by turning shoppers into buyers. Implement proven tricks and tips into your eCommerce site to salvage your sales, or better yet, improve them. That way, next time you go shopping, you’ll have more money in your pocket.