Here are the most effective strategies for you to reduce cart abandonments and increase sales. Tackle abandoned carts strategically to generate revenue for your business.
How To Reduce Cart Abandonment?
To decrease the number of cart abandonment, you need to follow up two different set of strategies. One is before the cart is abandoned. The second is after the cart has been abandoned by the customer.
Pre Cart Abandonment
At this stage your customer is still on your website and willing to make purchases. Striking the right chord at this time is the easiest for sales conversion.
1) Payment Security
In India, Largely most of the customers are insecure about paying online due to security reasons. This the biggest reason for an abandoned cart. For New Customers, it is integral to assure them about the security of online payment as well as the privacy of other information. The first step to be a trusted web-store you must get an SSL certificate for your website. The HTTP’S sign preceding your domain name emphasizes on an extra secure website.
2) User Friendly Websites:
Who likes complicated websites? Make it as easy as possible. Be Precise and simplify your website navigation and ensure all the important information, be it product description, images, price and other charges, are easy to notice. Lesser the clicks and more the transparency, Happier the customer! Loyalty comes with happiness.
3) No Hidden Costs Please!
Extra shipping cost or taxes can really put off the stereotype Indian customer. Let’s face it, generally customer shop in your online store for discounts, but gets disappointed seeing the final price, which is much more than expected due to shipping and additional charges. This leads to an abandoned cart Make sure that you show any such extra cost along with the price at the beginning, so that the customer can easily make up his/her mind.
4) Multiple modes of Payment:
Have as many options as possible for your customers to pay. Accept payments through credit card, debit card, net banking as well as COD so that you never lose any customer . This will not only reduce cart abandonment, but also increase the number of potential customers on your website due to flexible payment methods.
5) Better Shipping Options:
As a consumer, after painfully scanning more than 100’s of products it is disappointing to know that the product can’t be shipped on their pin-code, that too at the end of the checkout process. You can increase the number of shipping pin-codes or simply let your customer know, whether the product is available for their pin-code, before he/she get to the checkout point.
6) Guest Checkout:
Everyone is in a hurry to shop online. They want an easy checkout for quick exit. If you want to reduce cart abandonment, keep it simple silly! Provide an easy checkout. Offer Guest Checkout for such customers so that they can skip the hassle of providing information. Keep the registrations for returning customers.
7) Manage your Return/Exchange Policy:
Be clear about the refund or exchange policy, if any. Including such policies on your Web-store increases your sale conversion. It reduces the confusion of many customer while purchases. Showing return & exchange policies within the shopping process helps build trust in the consumers mind.
8) Reviews And Customer Testimonials:
For any startup brand, brand credibility is always a big issue. Since, people don’t know you, they will be doubtful about your product quality and authencity. To minimize this issue, you can display customer testimonials or product reviews right in front of your potential customers, so that they are assured about your product quality. This also helps in optimizing your website for search engines.
9) Have a strong Customer Support and relationship management:
Customers are bound to have queries while making purchases, whether it is related to product, shipping or payment, make sure that you clear it immediately. It is important to have a quick and responsible customer support team. Provide a toll free number or email to solve customer’s queries. Including live chat is also a good way to address your customers concerns.
If a Cart is Abandoned, then REMIND!
1) Reminder Emails:
In case, the customer has provided you his/her personal information, you can track their abandoned cart and send them a mail reminding the same along with a Call to Action button. This way, your customer might come back to your website and complete its purchase, in case he/she left in a hurry.
2) Search Engine Remarketing:
Various platforms like Google Adwords offer remarketing, where you can track your customer through the cookies and display ads. For instance, a customer visits your site, chooses product/s and then abandons the cart, you can track him through its cookie through which you can display ads and encourage him/her to come back to your website and complete the checkout process.
3) Offer Discounts And Offers:
Offer great offers like free shipping, free products, discount coupons or reduced prices. Let these offers force your customer to come back to buy products and then become a returning customer.
Research from Baymard shows that around 70% of consumers will abandon their online shopping carts this year. While the reasons for cart abandonment are endless, failure to capitalize on these lost sales opportunities is projected to reach a staggering $3 trillion in lost revenue for companies across the globe.