How to Reclaim Abandoned Carts and Lost Sales
You put everything into creating an incredible product and providing excellent customer service. You thought through every detail of the customer’s experience, from the store layout to a shopper’s mobility to the soft jazz playing over the speakers. Then, you watch as customers line up to check out and suddenly begin to abandon their full shopping carts.
What in the world is going on….and why?
On average, almost 70 percent of online shoppers will peruse your site, find a wanted product/service, decide to purchase, start checking out, and just walk away. Here are the top six causes of cart abandonment - with solutions on how to decrease your abandonment rate!
1. I have to pay for what? The sticker shock of unexpected extra charges.
Seeing unexpected shipping rates, fees, and taxes during checkout sends approximately 55 percent of potential customers out the door, according to Baymard Institute. To protect your profit, while motivating prospective customers to complete their purchase, set realistic expectations up front. For example, if there’s a minimum purchase required for free shipping, post that information on a top banner where it’s visible on every web page. You can also provide a shipping calculator that considers a potential buyer’s location and state taxes.
2. I don’t need one more account on one more site! The annoyance of registering an account.
When it’s time to check out, customers want simple, safe, and quick. If your site requires the buyer to register an account, 34 percent will move on. Instead, offer quicker options, such as guest check out, a social media sign-up button, or Google login option.
3. How much more information do you need?! The frustration of a lengthy checkout process.
Make your checkout process snappy and you may retain the 28 percent of shoppers who ditch their cart when the process takes too long. Only include required information, remove optional information requests, and use shortcuts when possible, like a “same as billing address” button for the shipping location. Also, include a progress indicator that shows each section they must complete (ordering, contact information, shipping, billing) and where they are in the process.
4. I don’t feel comfortable about this! The fear of security issues.
Due to fear of identity theft, potential customer will exit stage left and not look back if they don’t feel safe. At least 20 percent of online shoppers site safety issues as the reason they abandoned their purchase. To give them reasons to trust their information is safe, display recognizable security badges. In a study by Conversion Fanatics, the implementation of trust seals resulted in a 28.2 percent increase in conversion rates and a 71.1 percent increase in revenue per visitor. Not only did consumers complete their purchase, they purchased more. Other ways to offer a strong sense of security is by making sure your site has an SSL certificate, which will show a padlock on the address bar when on certain pages, and offering one-click options like PayPal or Apple Pay.
5. Ahhh! If I have to correct my order one more time…! The aggravation of website errors and crashes.
One in five people throw up their hands and quit their cart when a website crashes or shows errors, according to the Baymard Institute. This creates distrust of the process, and can even damage the reputation of the brand. It’s imperative to keep your site in tiptop shape by continually testing your site and fixing errors, making sure all plug-ins are compatible with all browsers, and maintaining enough memory and bandwidth - especially during traffic spikes - to keep your system operating smoothly.
6. You talked me into it. The reminder to follow-through.
Even when a potential customer is leaving your digital store empty handed, it’s not too late to sell your product or service. An exit-intent popup, triggered when a customer clicks off your site, can remind them to complete their purchase. Or it can request the customer’s email address so you can send an email within the hour reminding them of the discounts and special offers associated with products they left behind. According to Salesforce, 60 percent of the shoppers who receive an abandoned cart email return to complete their purchase.
Heartland provides entrepreneurs with software-driven technology to manage and grow their business. The company serves more than 400,000 merchants nationwide, delivering trusted solutions for payment, payroll and human resources, point of sale, customer engagement and lending. Heartland is a leading industry advocate of transparency, merchant rights and security. Heartland is a Global Payments Company (NYSE: GPN).