Shopping cart abandonment issues have continued to plague the e-commerce industry.
Online stores consistently struggle with it. Listrak tracks shopping cart abandonment rate and as of today its close to 79%, which is HUGE.
5 major reasons why consumers abandon shopping carts (study by Statista)
• Cost of Shipping
• Cost of order became too expensive
• Hassle of Return
• Lack of payment options
• Security concerns
There are multiple things you can do to handle these concerns. I found a great read by WordStream that lists
12 things you can do to reduce shopping cart abandonment.
1, Establish & Build trust in your transaction forms.
2, Include progress indicator on checkout pages.
3, Include thumbnail images of products throughout checkout process
4, Make navigation between cart and store effortless
5, Offer multiple payment options
6, Include strong call to action on checkout pages
7, Make saving carts effortless
8, Offer Guest checkout options
9, Offer money back guarantee
10, Be clear about any and all upfront costs
11, Identify spots where you lose customer in your checkout process via analytics & fix them
12, Optimize your page load time
Read the full article here.
Losing a customer is painful but there are multiple things you can do to bring them back to your site.
What to do after shopping cart abandonment:
1, Email campaigns
If you are using multi-step checkout process, check your analytics to see at which step did the customer abandon your shopping cart.
Was it at the step where they encountered:
• Payment options
• Shipping information
• Return policy etc.
Once you understand where you have lost them, create an automated targeted email that reaches out to the client and provides more information depending on where you lost them.
eg: if customer abandoned at the step that shows shipping information, send them an email that offers reduced or free shipping.
eg: if customer abandoned at the step that shows link about the return policy, you can send them information that showcases return policy in 1-2 sentences rather than the full paragraph.
Once you have identified where you lost them, you should send series of up to 3 emails at various time intervals.
• First one within 24 hours of abandonment
• Second after 48 hours
• Third at Day 5
And with each email, refer to the previous email and always show clients order information with product images and customer reviews.
If after 3rd email, the client does not return, then they probably won’t. At that moment, it’s good to move on.
2, Ad retargeting
This is a more advanced option but you can use ad retargeting for clients who have abandoned your shopping cart.
There are services like AdRoll, Meteora, Vizury etc you can use. I have personally used AdRoll and results have been great.
These platforms will enable to set your ads so that they target customers who have abandoned your shopping cart and bring them back.
You can set up ads that offer Free Shipping or Discounted offers based on what caused clients to abandon in the first place.
3, Exit Intent
I have implemented OptinMonster for various clients to give an offer to customers who are exiting the shopping cart.
It tracks mouse movement and shows a pop-up when the customer is ready to abandon the checkout page.
You can customize the pop-up to show offers like Free Shipping, Time sensitive coupons etc. This is extremely helpful and can keep customers on your site.
There could be multiple reasons why your customers would abandon your shopping cart. You should work with your marketing and analytics team to figure out main reasons and then optimize your site accordingly. Don’t leave money on the table, it’s a lot cheaper to get existing customer back than it is to acquire a new customer.