Cart Abandonment is plausibly one of the most significant hurdles that E-commerce retailers face on a daily basis. Most online businesses lose out on their conversion rates and revenue due to the same. Data tells us that around 67.91% of consumers abandon their carts. Apparently, in the E-commerce industry, this is pretty common. Despite the business’s best efforts, consumers seem to casually visit their websites and window shop, but never complete their purchase. This is a clear indicator of opportunities missed.
Fortunately, this is a problem that can be fixed. There are several ways to reduce this number. Here are five game plans that your business can implement to stop consumers from abandoning their carts –
Deploy Exit-intent Pop-ups
Businesses can employ this strategy to change their consumers’ minds at the exact juncture where they choose to abandon their shopping carts. Consumer attention can be captured effectively using exit-intent pop-ups that will show a business’s campaign when consumers are actively opting to leave the checkout page. Simultaneously, pop-ups regarding feedback can also be triggered to understand why they are choosing to abandon their carts at all.
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Further, incentives like coupons, promo codes, and discount offers can be used via pop-ups to ensure that consumers go ahead with the purchase and help boost conversion rates for the business. One huge benefit here is that these pop-ups will help in converting casual window shoppers into loyal consumers who fall back on the business’s website for repeat purchases.
Avoid Price Shockers
Usually, consumers exit the checkout page once they realise that they will incur charges that they did not anticipate at all. These hidden costs are typically discovered after entering the shipping details. This is something that businesses should be absolutely transparent about from the very beginning of a consumer’s shopping journey.
They can make use of floating bars on their E-commerce websites to showcase their free-shipping offers based on order value. Tools like shipping calculators can be used during the shopping process to ensure clarity so that the consumers know exactly what they are supposed to pay in terms of taxes and home delivery. Additionally, businesses can make use of campaigns to give their consumers incentives based on the number of products they add to their cart. This will help in increasing the number of cart items and also help make the purchase decision final.
Bolster Social Proof
The consumers of today look for extensive reviews and testimonials before buying a product. They basically want to ensure that they are getting what the product promises. This is precisely where social proof comes in. Businesses can make use of social proof notifications when a consumer is shopping to show how others have positively connected and engaged with the brand. This also helps in creating FOMO (Fear of missing out).
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This method critically helps in building strong relationships with consumers by making the brand look trustworthy and pushing hesitant buyers to make the purchase. Further, businesses can use ‘trust badges’ on their websites to show that their consumers’ data and payment details are secure and remain private to them only. This makes the shopping experience and journey more comfortable for the consumers.
Promote Guest Checkouts
Sign-in requirements are bottlenecks that push customers to avoid your website. While this option may work with many consumers, but more often than not, they end up looking for alternatives. This is why businesses should focus on removing the sign-in barricade on their E-commerce websites. It will help avoid excessive bounce rates.
The guest checkout option is a great solution here. This way, businesses can ensure better conversions and also get their consumers’ required information from their shipping details, which can be used later for retargeting. Also, options like ‘social login’ can be provided to the consumers to avoid the lengthy sign-in process. This tactic uses information from social media platforms, provides verified user data, and helps businesses with personalisation in the future.
Improve Browsing Experience
Businesses should focus on keeping the checkout process simple, short, and straightforward. Consumers like nothing more than a crisp online checkout experience. Too many ‘fields to be filled up’ option should be avoided entirely, and website checkouts should be wrapped up in a maximum of four to five steps only.
CTA or Call to action buttons can be used in the shopping cart by making use of time-sensitive words like ‘buy now’ or ‘try now.’ Further, progress bars can be used to show the consumers where they are in the purchase process. This helps create momentum that pushes consumers to reach their goal of completing the purchase and owning the item.
While consumers exhibit different shopping patterns, there are certain aspects that remain the same for most of them – be it in terms of delight or frustration. It is up to the businesses to turn things around and make the most of their opportunities. The more they work on the user experience they provide, the higher will be the benefits!
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