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By admin
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Introduction
Ecommerce businesses suffer from a high rate of cart abandonment, costing them billions of dollars per year. With so much lost revenue, it’s imperative to find strategies to reduce cart abandonment and win back customers. In this post, we explain ten strategies to overcome cart abandonment and win back customers in your ecommerce business.
1. Offer Free Shipping
One of the most effective strategies to reduce cart abandonment is to offer free shipping. Studies have shown that many customers abandon their carts when they see the added cost of shipping at the checkout page. By offering free shipping, customers are more likely to go through with their purchase. To make this strategy effective, you should make sure the shipping time frames are clear and the order amount threshold to qualify for free shipping is clear.
For example, the online store La Redoute offers free standard delivery on orders over £50. They also provide an estimated delivery date on the product pages, so customers know how long it will take for the item to arrive.
2. Make Checkout Easy
Another strategy to reduce cart abandonment is to make checkout easy. Many customers find the checkout process intimidating and give up. To reduce the chances of cart abandonment, make sure the checkout page is simple and clearly labeled.
For example, the clothing store Asos has a simple one-page checkout process. There are only five steps to go through and they are clearly labeled with easy-to-understand instructions.
3. Build an Abandoned Cart Email
A great strategy to win back customers is to set up an abandoned cart email. This email sequence should be automatically triggered when a customer adds items to their cart, but doesn’t complete their purchase. The emails should contain a personalized discount code and a follow-up message reminding them of the items they left behind.
For example, the online furniture store West Elm sends customers who abandoned their carts an email with a 15% discount and a link to their cart page. This helps to remind customers of the items they left behind and encourages them to complete their purchase.
4. Shorten Time To Checkout
Another great strategy to reduce cart abandonment is to shorten the time it takes for customers to complete their checkout. Studies have shown that customers get impatient and give up if the checkout process takes too long. To reduce cart abandonment, make sure customers don’t have too many steps to go through and that the page loads quickly.
For example, the online fashion store Zara has a streamlined checkout process that takes less than a minute to complete. They have also implemented a “one-click checkout” feature that allows customers to complete their purchase with a single click.
5. Display Security Seals
In addition to making the checkout process easy, you should also display security seals to reassure customers that their personal information is safe. Security seals can help customers feel confident that their data is secure and reduce the chances of cart abandonment.
For example, the electronics store Best Buy displays a “Secured by VeriSign” seal on their checkout page. This seal shows customers that their personal information is encrypted and safe from being stolen.
6. Allow Guest Checkout
Another great strategy to reduce cart abandonment is to allow customers to checkout as a guest. Studies have shown that many customers are put off by having to create an account or sign in to complete their purchase. Allowing customers to checkout as a guest can help to reduce abandoned carts and encourage customers to complete their purchase.
For example, the online shoe retailer Zappos allows customers to checkout as a guest without having to create an account. This feature makes checkout easy and helps to reduce cart abandonment.
7. Offer Multiple Payment Options
Another way to reduce cart abandonment is to offer customers multiple payment options. By offering customers the ability to pay with their preferred payment method, you reduce the chances of them abandoning their cart. You should also make sure the payment page is secure and that customers can see any accepted payment methods clearly.
For example, the online computer store Newegg offers customers a range of payment options including credit cards, PayPal, Google Pay and Apple Pay. Customers can easily select their preferred payment method on the checkout page.
8. Provide a Clear Return Policy
In addition to offering multiple payment options, you should also provide customers with a clear return policy. Many customers are wary of making online purchases due to the risk of the item not being what they expect. By providing a clear return policy, you can reassure customers and reduce the chances of cart abandonment.
For example, the online jewelry store Cartier has a detailed return policy on their website. Customers can read up on the store’s return and exchange policies before they make a purchase, helping to reduce the chances of an abandoned cart.
9. Incorporate Price Protection
Many customers are deterred from completing their purchase if they think the price could go down. To reduce cart abandonment, you can offer customers price protection. This could be in the form of a price match guarantee or a “lowest-price guarantee”. This will help to reassure customers that they are getting the best deal and encourage them to complete their purchase.
For example, the online home goods store Wayfair offers customers a price match guarantee. If customers see the same item for a lower price within 30 days of purchase, they can get a refund for the difference. This helps to reassure customers that they are getting the best deal, reducing the chances of cart abandonment.
10. Track Abandonment Patterns
The final strategy to reduce cart abandonment and win back customers is to track abandonment patterns. By tracking customer behavior, you can identify common issues and figure out what is causing customers to abandon their carts.
For example, by tracking customer behavior, you may find that customers abandon their carts when they are asked to create an account. This allows you to identify the issue and come up with a solution such as the “guest checkout” option mentioned earlier.
Conclusion
Ecommerce businesses lose billions of dollars each year due to cart abandonment. To reduce cart abandonment and win back customers, you need to implement effective strategies in your ecommerce business. From offering free shipping to tracking abandonment patterns, the strategies discussed in this post can help you to reduce cart abandonment and win back customers.
