As online shopping grows, shopping cart abandonment continues to be a significant problem affecting businesses of all sizes. On average, 68.63% of shopping carts are abandoned, equating to over $4.9 trillion dollars left in the cart globally. Needless to say, combating this issue should be a top priority for brands with the goal of bringing down that percentage as much as possible.
There are many strategies businesses use to start attacking shopping cart abandonment, but remember, implement each strategy one at a time to accurately track what is making improvements and what is not.
To get a step ahead, here are 5 tools to help eliminate shopping cart abandonment:
Retargeting platforms are key to getting shoppers back to your site after they leave. As it is extremely rare for a first time visitor to make a purchase on your site, retargeting is handed the responsibility of reminding that customer about your brand and the products they were looking at after they leave your site. In fact, 70% of shoppers are more likely to convert if they are retargeted after abandoning their cart. Further, retargeting is responsible for a 147% lift in conversions! We recommend checking out Pollen, AdRoll, and Criteo for your retargeting needs.
2. Exit Intent Applications
Exit Intent Apps allow businesses to serve popups to shoppers when they are about to leave their webpage. A huge benefit here is that you can advertise a discount or other promotion as an extra incentive for these customers to convert on the purchase they were hesitant to make. Applications like SumoMe provide a set of tools to help retain shoppers on your page.
3. Email Marketing
Use apps (you can even do it through Google Analytics) to track users who abandon their purchases. If a shopper leaves merchandise in their cart and leaves your site, send an email reminding them that their shopping cart has items in it. Using some trusty apps, you can also automate discount codes to these shoppers to help with conversion in these situations (33% of opened emails go on to make a purchase!) Check out Moonmail Recover Checkouts and Receiptful!
4. PAYMENT METHODS
Offering all major credit cards and PayPal will help boost your conversions and ensure customers don’t get left out. Consumers pay for products differently and respecting their personal finance decisions is key. Provide as many options as you can!
5. Examine Website Best Practices
Aside from specific tools, shipping costs are the biggest reason for cart abandonment, accounting for 44% of all cart abandons. Free shipping or discounts on shipping above a certain spending threshold is the way many eCommerce stores are moving. Additionally, ensuring your website load times are optimized, your products are viewable on desktop and mobile, and your checkout process is seamless are all important steps to take and will help your brand ultimately drive down your cart abandonment rate.
By adopting these 5 tools to help eliminate cart abandonment, you’ll be in great shape to retain more customers in 2017 and jump over the high hurdle of crippling cart abandonment.
Any other tips? Feel free to comment below.