Does your company have a lower income than you initially estimated? Is there a drastic difference in the number of people who viewed your e-retail store, and the number of customers who actually made a purchase?
One of the main causes of this problem is the abandoned shopping cart.
A customer browses a website, selects a product, adds it to the cart, and leaves the site without completing the purchase—this is the tale of how e-retailers end up with a pile of abandoned shopping carts.
Most retail dashboards paint a vivid picture of the losses an e-retailer can incur due to abandoned shopping carts: it’s immediately obvious this is no small amount. Even a minute change in the percentage of visitors making a purchase can make a drastic difference in your income, in spite of your product’s well-strategized retail life cycle.
Here are some tips that’ll help you reduce the rate of abandoned shopping carts on your website, and bring in better revenue. For convenience, let’s break these down into two categories.
Retail dashboards have shown that some retailers do better than others due to simple factors like a reputed name, rewarding offers and the reassurance of promised quality and service.
Make the most of your website; even a few changes in its layout can make your online store seem more appealing. Subtle changes (say) in the approach to checkouts may be all it takes to get there.
● Reduction of Fear
When buying products online, you usually have to fill out a form with a list of your personal details. Most of these seem unnecessary, and a customer might think it safer to scrap the purchase altogether to avoid what they consider an intrusion of privacy.
Customers are worried about Internet scams and generally want to avoid trouble by refusing to give out personal details. You can put your customer at ease by establishing your valid need for these.
● Inducing Trust
At the checkout page, reassure the customer that personal information and payment details are well-protected and theft-proof. You can do this with credibility messages placed around the final checkout button. This establishes a trusting relationship with your customer.
Don’t limit trust symbols and messages to the checkout page alone, however. Most websites portray their exceptional facilities and promises throughout their pages, with small symbols and messages that subtly remind customers of these.
Even if it’s the logo or any other small part of your website, it does have an impact on the visitor—even if subconsciously—and can influence the purchase.
Some of the technicalities you could incorporate into your website to build trust include branding, reviews and testimonials, clear policies, intuitive navigation, fast-loading timetables and prominent contact information.
● Promotion Of Benefits
If (say) your e-retail store offers free shipping or any other benefit, this is probably evident all over your pages. Make it a point to convey it again, around the checkout button on a page. This further establishes credibility in the customers’ minds, freeing them up to make a confident purchase.
The live chat pop-up—an increasingly common feature on several websites today—is a great way to let your visitor know how customer-oriented your services are.
With these psychological strategies, you present your services, policies and facilities in an appealing manner, easier for a visitor to perceive. You don’t require additional efforts, or to make false statements, to catch the customer’s attention.
Technical Strategies ● Persistent Carts
When a customer adds a product to the shopping cart, this technique lets the site ‘save’ the item. If abandoned, the saved cart reappears the next time the customer visits the website.
Most customers intend to save their carts for later uses. If the cart goes missing—and there is no notification from the retailer’s end—it is possible for the customer to completely forget about the purchase. To avoid such losses, it’s a smart option to use this tool on your online store.
● Abandoned Cart E-mails
As the name suggests, a reminder e-mail is sent to the registered customer’s account saying the purchase is pending. You can also notify the customer of any reward or discount they can avail with this purchase.
● Exit Intent Technology
With this tool, you can detect—through specific algorithms—when a customer is about to leave the site, and trigger a pop-up window reminding him to complete the purchase.
● Off-Site Remarketing
This strategy enables you to ‘re-target’ the visitor even after he or she has left the site. It reminds the customer of the abandoned cart through advertisements of the product or the website itself.
With simple strategies and techniques, you can easily reduce the rate of abandoned shopping carts on your retailer website. Ensure you eliminate fear and build trust in your customers through the layout of your website.
Frida Cooper is a retail analytics researcher with about seven years of experience. She writes for Intelligence Node.
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