Over 75% of sales get lost due to cart abandonment and if this doesn’t reiterate the fact that cart abandonment is a problem, we don’t know what else will. It is very important to continually work on and find different ways to recover them because it helps to improve your revenue. The truth is that there’ll always be different circumstances that’ll drive your customers to abandon their cart and if this continues, you end up with a high cart abandonment rate.
So, if your cart abandonment rate is high, there are easy ways to optimize your cart abandonment strategy in a way that’s cost-effective for you. Also, with your cart abandonment strategy, including the right marketing tool like Sendmunk, you know exactly what your potential customer needs and based on their interaction with your store, you can proffer personalized solutions.
Top Reasons for Cart Abandonment
Like we mentioned earlier, there are different reasons why your customer will choose to abandon their cart. We’ve highlighted the top reasons below;
1. Conducting research to buy later.
The first thing you should bear in mind is that not everyone who visits your store will eventually checkout their cart with you. People use the internet to make research about products and brands that are similar to theirs and some of them will add items to cart just to have an experience of how it works.
2. Shipping cost
Customers care a lot about shipping and 25% of customers agreed that shipping costs is one of the primary reasons why they’ll create a cart and abandon it. Also, while the cost of shipping is a threat, you should also consider the speed of shipping as well.
A tried and tested solution is to include the shipping cost into that of the product so that your customers get excited about getting to shop without paying for delivery.
If you can’t do that, the other option is to fully list out the shipping details on your product page and how long delivery takes. You can also provide the option of express shipping upfront, so that your customers are aware, before they get to the checkout page, of all the expense to expect.
3. Unnecssary checkout process.
Your customers expect to come to your store and get all they need quickly and conveniently. So, when you make your check out process tiring and long, people are bound to abandon their cart. And we also know for a fact that 22% of buyers abandon their cart when they’re required to create an account. A smart option, in this case, will be to include a guest checkout, that way, first-time buyers are not forced to create an account before they can complete their order.
4. Concerns about payment security
Security about payment details is also another major reason why people abadon their cart. To solve this, you have to ensure that there’s no room for suspicion. Features including your layouts, images designs, testimonials, etc all work together to build trust with your customers enough for them to share their payment details with you.
5. Website errors, crashes or numerous page redirects
If you have a website that crashes, takes forever to load, or keeps redirecting, it’s a red flag as it means that you’re not considering the experience of your customers and they become insecure about your website. You have to do frequent checks of your page to ensure that all is running well and smoothly.
6. Lack of Customer Support
According to a study by LiverPerson, 83% of online shoppers say they want help while they are on site and 51% of them said that they are more likely to make a purchase if they had a live support team to attend to them during their purchase.
Top Ways to Reduce Cart Abandonment
Asides the solutions given for the reasons above, here are some other interesting way to reduce your cart abandonment rate.
- Show a Persistent Reminder of Cart Contents
As your customers proceed to the checkout page, they may begin to have doubts about the selection they’ve made and the cost. So it’s important to include a summary cart that shows your customers what they have ordered before they proceed to checkout.
- Use Analytics to Monitor Abandonment
If you integrate a marketing tool like Sendmunk into your store, you’ll be able to easily track the rate of people who have abandoned their cart and you can then identify and monitor the patterns and how it has changed the behaviour of your customer.
You can either choose to analyze your dropoffs or the difference in behavior between devices or browsers. This will help you identify if the problem is from your end and how you can fix it immediately in order to reduce the rate of cart abandonment.
- Use Conversion Messaging
For potential customers who visit your website to shop, you can target their behaviour and once you notice signs that they’ll leave before concluding their purchase, you can initiate an on-site conversion message to help reduce abandonment. You can either choose to include messages that shows urgency, tells them how popular the product is, or discounts they’ll miss out on if they don’t checkout.
- Provide Multiple Payment Options
The payment options you provide also go a long way in reducing your cart abandonment rate. You have to provide choices that appeals to the various customers you serve. While some payment methods speed up checkout, others make the process more complicated. So you also have to understand how each payment method works so you can always refer your customer to the best one first.
How Sendmunk can help to reduce your cart abandonment rate
As a business owner with a high rate of cart cart abandonment, you must be wondering how strenuous it’ll be to execute all the tips above. A great tip is that as long as you integrate the perfect marketing software, like Sendmunk, you’re well on your way to reducing the rate of your cart abandonment rate.
With Sendmunk, you can identify what’s working and where to effect changes based on the performance metrics it provides. It also has features that helps your customers find what they’re looking for faster, possible reason why your customer abandoned their cart, and if it’s due to a problem from your end, you know how to fix it immediately.