ECommerce Businesses Could Be Losing Sales Because of This
Is Your eCommerce Business Losing Sales? You Could Be Missing This
Have you ever shopped online and bounced out when you got to the checkout page? After some time, you get an email from that company with the products you had in your cart, begging you to complete the order. How does this magic happen?
The average eCommerce store loses over 75% of its sales to cart abandonment. Some industries experience average cart abandonment as high as 83.6%. Yikes! So what can you do to recover these items? In order to devise a plan to avoid cart abandonment, or even recover lost sales, let’s look into why people abandon their carts.
Why Do People Abandon Their Carts in the First Place?
Though there are several reasons why people abandon their online shopping carts, the top three reasons are cited as: unexpected costs, the website wanted them to create an account, and it was too long of a checkout process.
What Can You Do to Avoid Cart Abandonment?
Based on the reasons people abandon their shopping carts, let’s explore some ways you can minimize cart abandonment:
- Be upfront about your shipping costs. Nobody likes surprise fees or shipping costs. Make sure that your website clearly states what fees are associated with each purchase. If you offer free shipping, make that prominent on your website. If you charge customers for shipping, make it as clear as possible on the initial checkout page. Allow people to calculate shipping based on their zip code or see that it’s flat rate shipping. This way, they’re not surprised when they get to the final step of the checkout process.
- Make your checkout simple and clear. Your checkout form should be simple, easy to fill out, and as concise as possible. The less obstacles you offer, the higher chance you have in completing a purchase.
- Constantly monitor and test your website for technical errors. You can use a tool like Google’s Speed Test to check if there are any errors on your website or enlist the help of your web development team to maintain your site’s health on a regular basis. The faster you can catch and fix errors, the faster you’ll avoid losing a sale.
- Make your website “look” and “feel” trustworthy.” Websites that look shady, with outdated graphics, typography, and scattered navigation, can send customers running for the hills. There are telltale signs your website is outdated, and we highly recommend reviewing your site if it’s been a year or two.
- Develop a fair and easy return policy. Granted, there are some industries that will require a stricter return policy than others. For example, if you sell swimsuits or cosmetics, you’re bound to have some higher restrictions on returns over candles or toasters. Make sure your return policy is customer-focused and clearly stated on your website.
- Diversify your payment methods. Although there are higher fees associated with PayPal transactions or American Express, there are tons of consumers out there that prefer to use these payment methods. You may alienate a section of your customer base if you omit these channels. Take an average sale, determine the standard PayPal fees and then see if it there’s an agreeable profit. If there is, consider adding it to your accepted methods of payment!
How Can You Recover Abandoned Carts?
There are a ton of WordPress plugins out there that help recover abandoned carts. Among them, one of our favorite plugins is Conversio. Through a series of email automations, special discount codes, and social media marketing, you’ll be able to recover those abandoned carts in no time. Here’s how it works:
- Your website developer integrates the selected cart abandonment tool with your website’s ecommerce platform.
- Determine the frequency of your emails, and start looking for inspiration (see below for some pretty awesome examples)
- Determine what kind of offer you’d like to extend to the customer to convert purchase. Perhaps you’ll want to extend an additional 10% off in the second email attempt or a specific dollar amount. Your cart abandonment plugin should be able to easily do this for you, without much extra work.
- Set up a Facebook campaign that aligns with the brand/messaging of your abandonment campaign. You can create a Custom Audience with specific parameters like: abandoned their cart, viewed by not purchased, and so on. Make sure your creative and copy match the intent behind the campaign. You can also use Facebook Messenger, in addition to news feed and third-party site placements.
Here are some great examples of killer cart abandonment emails: