Shopping cart abandonment is one of the trivial problems that every owner has faced on their online eCommerce business journey. Often the visitors add items to their cart but don’t make any transaction and leave the website.
Every year, millions of dollars are lost as visitors do not finish the checkout process. No matter how good the products are, users will visit your site, add products to the cart, and leave the page. Hence, it is essential to look at this issue and increase conversion rates.
According to research, nearly 70% of the people leave the website without making any purchase. That shows almost 70 people out of 100 visiting your website abandon their carts without making any purchase. Ouch! Isn’t this huge? If the owners don’t think this is a problem, they will surely leave a lot of money on the table.
Despite the traffic to the website, the sales trend and the profit is not increasing. Out of all the reasons, cart abandonment indeed could be the one reason contributing to that issue.
Here are a few steps on Reducing Cart Abandonment and Encouraging Customers to Make Transactions
1. Remind Customers about the Products:
Often, while shopping, customers tend to lose their interest and get distracted. If a customer has added all the products they are looking for to the cart, they suddenly see a notification regarding the upcoming meeting. The customer will immediately close the website and start looking after the meeting’s things, leaving the cart abandoned. Hence it is vital to encourage them and remind them about the products they have added to the cart.
One solution is to send an abandoned cart email and include all the products they have added to the cart and remind them to purchase. If they don’t visit the website and make the purchase, they might offer them a discount to provoke the sale in future emails. To help you add the email functionality on the store, Abandoned Cart Email Magento 2 Extension is the best choice.
2. Seamless Navigation between Cart and Products:
Apparently, the customers will navigate between the cart and the product page multiple times before actually completing the checkout. Hence, it is critical to have effortless navigation between them.
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The owners have to ensure that the customers do not get frustrated because of the navigation, and they can do it without any hassle. Even the gigantic eCommerce business owners continuously experiment with the checkout process to optimize and make it quicker and more comfortable for the customers to buy.
The higher the customer’s efforts, the higher the customer’s probability of leaving the website without purchasing. So always ensure to do more work, and so the customers don’t have to do it.
This is one of the easiest ways to reduce cart abandonment and increase sales.
3. Multiple Payment Options:
If the payment options are limited, the customer might not be using those options and will eventually drop the idea of purchasing. Providing a single payment option to the customers will invite many obstacles between the sales and the prospects.
Although the more payment options the owners provide, the more difficult it will be for them to manage. On the other hand, the owner will be providing the customers exactly what they require, and providing more options, reducing or eliminating the chance of customers leaving the cart.
In the end, the idea is to offer a seamless customized shopping experience to customers.
4. Offer Free Shipping:
One of the common reasons behind cart abandonment is the checkout’s hidden cost. Hence, it is vital enough to take care of it. When the customers buy the product for 10$, and during the checkout, the price jumps to 15$, which is much higher than they are looking for.
Hence, they will leave the cart and walk away. To avoid such scenarios, it is essential to offer free shipping for all the products or have a threshold. Beyond that cost, the product will be shipped without incurring any additional cost.
The owners can also promote that all the products will be shipped free of cost, encouraging them to purchase.
5. Guest Checkout:
Registration during the checkout process is one way of collecting the customers’ data. However, it won’t be fair if they have to register to make any purchase forcibly.
The guests should be able to add any product to the cart and purchase the product without going through the entire registration process. The owner might lose the customers’ data, which can be used smartly to increase sales but, in turn, will make it quicker and more comfortable for the customers.
According to the research, nearly 15% of the people stated that forced registration is a good reason to leave the website without purchasing.
6. Optimize the Loading Time:
Faster the website, the more the traffic to the website with a reasonable conversion rate. If the website takes a lot of time to load, the customer would surely start looking for other Internet options. It will also create a bad brand name forcing the customers not to visit the website anymore.
It is essential to optimize the load time of all the web pages. Even an increase in one second loading time will decrease the sales trend. Optimize the loading of the checkout page. The shopping cart conversion rate drops by almost 8% for a one-second delay in loading the checkout page.
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Also, during the payment process, a delay is fair enough. But the online retailers should always ensure that the customers know something is going on in the background by showing some visual representation of uncertainty such as a loading bar and assure them that their payment would be completed soon.
7. Money Back Guarantee:
Loyalty is significant when it comes to online eCommerce business. While buying the products, the customers can not touch the product; all they can do is trust the owners to receive the product as displayed in the picture.
The customers often purchase by looking at the picture, and later on, they don’t really like the product when the product is delivered. So they would like to return the product and would anticipate their money back.
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The business owners should make sure that the customers have received their money back in a limited period. Also, they should stick to the commitment they have made on their website.
Apparently, the shop owners should do whatever they can to make customers feel better about buying the products from their website.
8. Reach out to Customers:
Whenever there is cart abandonment, the owners should immediately reach out to the customers and ask them why they didn’t purchase. There might be cases where the coupon didn’t work for the customers, so they walked away.
Hence, the owners must ask them if there was some issue that they have faced while checking out, sometimes even they face problems regarding payment. After their case is resolved, the customers might appreciate their help and visit the website and purchase it.
9. Chatbot to Assist Customers:
With the growing technologies, chatbot usage has grown by leaps and bounds over the past years. The main idea is to automate the processes as much as they can and avoid human involvement.
The owners should have a chatbot on their websites to answer the frequently asked questions by the customers. The owner, on the other hand, can focus more on sales and profit.
The customer will feel they are getting 24/7 support from the owner and can ask for help from the chatbot whenever they are stuck. Also, there might be cases where the bot will be unable to respond to the customer.
To handle those scenarios, a live chat agent must assist the customers so that they don’t get stuck to a particular thing for a more extended period, leading to cart abandonment and directly impacting sales profit.
10. Analyze Customer Behavior:
Understanding customers should be one of the owner’s top priorities. The owners should always try to look at the customers’ flow and the issues they have been facing, leading them to walk away without any purchase.
One of the best ways to reduce cart abandonment is by providing the customers that they indeed want, trying to solve all the issues, ensuring they won’t face it further. Ask feedback from the customers on how they would like to experience the checkout process.
Sometimes the feedback from customers says a lot, which the analytical tools hide.
Cart abandonment is hard to deal with. Even though each customer has a different taste in shopping, they have similar buying habits and preferences. They would like to have a customized and seamless shopping experience.
Analyzing the customer’s behavior and providing them with whatever they want will surely help convert the shoppers into paying customers. After going through this article, you will know how to encourage customers and stop them from walking away.
Lastly, do let us know if this article has helped you and give your valuable feedback.