How to Reduce Shopping Cart Abandonment Rates and Engage Customers to Make a Purchase
by Chico Orange
Noticing a drastic increase in your shopping cart abandonment rates? We get into the root of the issue in this article and provide tips to help you stop your customers from leaving.
If you’ve been paying close attention to your website’s activity, you may have noticed something rather frustrating about your customers’ behaviors. They browse your site for a while, add some items to their cart, and just when the last step is to settle their payments, they leave and completely abandon their shopping carts.
Frustrating, isn’t it? That’s just one of the realities of online shopping and is the very nature of product browsing. The good news is that there are things you can do to reduce your shopping cart abandonment rates and actually get customers to make a purchase — and they can be as simple as rearranging the floor and making your site more enticing.
Variables That Affect Your Shopping Cart Abandonment Rates
The first step is determining which factors in your site make or break your abandonment rates. These include:
- Product or service
- Cost and average order value
- Source of traffic
- Device visitors are using
- Platform used to access your website
- Browsing location
Now, by browsing your analytics and studying your data, determine which of these factors are affecting your conversion rate. Once you’ve identified the culprit, you will be in a much better position to implement targeted strategies.
Focus on What You Can Convert
A lot of e-commerce businesses aim for a 100% conversion rate. While that sounds fantastic, it’s not exactly realistic. Similar to the well-established marketing rule of targeting the right group of people, you should also be focusing on the right types of conversion.
Start with determining the ideal conversion rate for your business and setting your benchmark. Identify where your conversion rates are and what you can do to increase them. For example, are your analytics showing that your customers are on your website for research instead of transactional purposes? If that’s the case, your focus should be on how you can convert these visitors into buyers.
Analyze Your Sales Funnels
The whole customer experience that starts with them finding your website and falling on your landing page and ends with making a purchase comprises a sales funnel. An analysis of your funnels will help you identify why your customers are abandoning their shopping carts. A study by Forrester Research revealed the common reasons behind shopping cart abandonment:
- Costs of shipping and handling – 44%
- Not ready to purchase – 41%
- Comparing prices – 27%
- High prices – 25%
At first glance, it seems like there is little you can do to change or eliminate these factors. But you have more control than you think. You can actually sway your customers and entice them to continue with their purchases by making small and simple changes to your website.
For example, to address the issue of customers leaving because of shipping and handling costs, you can show the total price (including shipping and handling charges) at the shopping cart. This eliminates hidden fees and surprise costs. Further, it allows your buyers to know exactly how much they need to settle and prepare themselves to spend that amount.
Another way is to offer shipping promos or discounts for repeat purchases, adopt a subscription model, etc. which conversely help you build return customers.
Simplify the Process
As a general rule, your sales funnel should be as simple and streamlined as possible so that you can take advantage of your customers’ motivation to make a purchase. The more steps they have to go through to buy your product, the less motivated they are to move forward.
Make sure that the process of adding to the cart and checking out is as simple as possible. Remove anything that causes friction or delay. In short, make it easy for your customers to buy. This can exponentially decrease your shopping cart abandonment rates and boost conversion.
The key to reducing your abandonment rates is understanding the reasons behind your customers’ behaviors. Once you have identified why they abandon their shopping carts, you can better craft and implement strategies to get them to stay and move forward with their purchase.
Need help boosting your conversions? Citrus is a digital marketing agency in the Philippines that can help you optimize your website. Reach out to us today and let’s talk about how we can add value to your business.
December 13, 2021
December 13, 2021