The probability of shopping cart abandonment has an impact on small, medium and large e-Commerce businesses.
Reports from Statista reveal that as of August 2017, 77.3% of all online retail orders – i.e. shopping carts – were abandoned rather than purchased. This has seen an almost 10% increase according to data collected in January 2017.
This is exactly why conversion-rate optimization is a big factor in the success of e-Commerce businesses.
By accurately leveraging advanced cart abandonment analytics, you can improve conversion rates and understand why your prospective customers are hesitant to complete a purchase. Here’s how insights gained from cart abandonment analytics will help you optimize your e-Commerce Store’s checkout process and ultimately boost sales on your online Store.
Minimize Checkout Fears
Not many online shoppers feel entirely comfortable and secure when shopping on e-Commerce Stores and websites.
A 2012 study of checkout forms by Baymard Institute revealed that 61 of the top 100 e-Commerce websites frequently asked for apparently unnecessary information.
Some people may complain about your e-Commerce store asking for a contact number during the checkout process. If you want the information, it would help to give the customer a valid reason for the need for that information. For instance, a customer will be less hesitant to share personal contact details with you on a checkout form if he/she knows the information is required for shipping purposes.
It’s important you understand the primary concerns with online purchases before addressing the concerns specific to your market or business.
Encourage New Customers to Complete Purchase
It may be a good idea to consider offering discount coupons or codes to new customers. This tactic will encourage new customers to proceed with their planned purchase if they see a prompt to apply a discount code before checkout. This will only help to increase customer satisfaction with your product and store.
The customer will be prompted to provide an e-mail ID to activate the discount coupon, after which, even if they abandon the cart, you can use the e-mail ID for a strategically targeted remarketing campaign.
To gain a deeper understanding of factors that are proving a hindrance to your e-Commerce store’s checkout process, it is a good idea to use a sessions tracking feature included in your e-Commerce analytics solution. This will give you a glimpse at how prospective customers interact with your store’s checkout process.
Improve Trust and Credibility at Checkout
Building and maintaining the trust of your customers are imperative to the success of your e-Commerce business. To do this, you must make the checkout process as seamless as possible, by predicting possible queries the customer might have and offering answers without being prompted to do so. Take, for instance, comprehensive shipping information.
If you only list the types of shipping available without offering estimated delivery timelines for each shipping methods, customers will be more inclined to think their order may be delayed.
Therefore, these types of trust messages help to be a degree of clarity to your checkout process.
Provide Easy Access to Interactive Store Features and Highlight Benefits
The visual appeal of your e-Commerce website or Store is a major factor in building confidence in your customers. Telling customers or visitors to your website or Store about the important benefits of shopping with you is the key to boosting conversion rates. For instance, if your e-Commerce Store offers a discount on all orders above a certain amount, placing a visible banner in the header of all your web pages or screens, will encourage a customer to complete a purchase to avail the benefits.
During checkout, it wouldn’t hurt to reiterate the benefits, and would only further convince your customers to complete their purchase and not abandon the cart for lack of motivation.
Customer Service is another major factor that customers evaluate when browsing an e-Commerce store or website. Make customer service easily accessible to them, in case they might want to clarify any purchase or product related queries. A Live chat feature made accessible during the checkout process would be greatly beneficial.
The Last Word
If you have access to comprehensive cart abandonment analytics for your online Store, you will be able to effectively assess the various reasons why your customers may hesitate when completing a purchase.
Cart abandonment analytics offered by IQLECT for e-Commerce platforms will also provide real-time actionable insights to reduce the incidence of abandoned carts, thereby helping you optimize conversion rates and improve your business.
DataTau published first on DataTau
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