Cart abandonment is one of the most significant and common reasons behind the dropping sales of your eCommerce store.
Abandoned carts are a challenge to each WooCommerce store owner. Every abandoned cart is a lost revenue, so anything you'll do to prevent it'll make you extra money.
Due to abandoned carts, each year, your eCommerce store loses a large number of potential sales.
According to Geckoboard, on the average over 70% of site visitors who “add to cart” find themselves abandoning the cart. the quantity of prospects who add products to a cart never actually complete their purchase.
The question is, why do consumers abandon carts and what's the answer behind this?
To overcome this issue, we’ll discuss some of the reasons why visitors abandon shopping carts and why it’s important to learn about cart abandonment recovery. We’ll also discuss how you'll be able to combat shopping cart abandonment easily.
By the end of this guide, you will be able to:
- Understand the reasons behind your lost sales.
- Learn effective ways to recover your Abandoned carts and maximize your store profits.
- Use a reliable tool to expect higher engagement from buyers, and possibly get more sales
Let's quickly dive right into it.
What are the reasons behind losing potential sales?
If you're feeling like your sales are lagging behind where they need to be and you don’t know why — in any case , you’re running ad campaigns, utilizing keywords, and regularly publishing on your blog — read on to ascertain where you'd possibly be falling short.
Let's look at different scenarios of why are you losing potential sales:
Forced account creation before checkout
Some store owners make it mandatory for the consumers to register before making any purchase. many consumers don't seem to be comfortable providing personal information.
Lengthy and confusing checkout process
Customers nowadays search for an easy checkout process that's short and concise. Many of the purchasers find it useless to fill out lengthy forms for one purchase.
Lack of payment methods
Customers buying online want the convenience of using their preferred payment method. the less options available to your customers, the more likely they're to abandon. If customers add items to the cart only to search out out they can’t buy using the payment option they have , they'll leave.
With over 50% of e-commerce sales made on mobile, e-commerce retailers with inadequate mobile designs are failing to satisfy most of their customers.
Create a responsive design that's compatible with both mobile and desktop. Standardize your cart and checkout design across device types so users have a well known experience buying across devices.
Prices are shown in foreign currency
Not all customers have the flexibility or time to urge currency conversions before purchasing the merchandise.
If they see that there is no display of cost in local currency which they're going to got to know the rate of exchange to calculate the actual pricing of the merchandise, they go leave away the cart immediately.
Effective ways to Recover Abandon Cart and Maximize your sales
The Abandoned Cart isn't a brand-new phenomenon. E-Commerce merchants have been battling abandoned carts since the first online store opened.
Cart abandonment could seem to be a drawback for you but if you're thinking that with an optimistic approach, it's often an opportunity to spice up sales over your online store.
Many other factors contribute to the reasons why consumers abandon shopping carts without completing their purchase.
Some of the foremost effective ways to recover WooCommerce abandonment cart sales are –
Make Checkout Process Easier
Offering one-click ordering brings a new set of perils, similar to the potential for shoppers to accidentally order products they might not otherwise buy.
1-Click, also called one-click or one-click buying, is that the technique of allowing customers to form purchases with the payment information needed to complete the acquisition having been entered by the user previously.
More particularly, it allows an online shopper employing a web marketplace to shop for an item without having to use shopping cart software.
Instead of manually inputting billing and shipping information for a purchase , a user can use one-click buying to use a predefined address and credit card number to urge one or more items.
Since the expiration of Amazon's patent, there has been an advent of checkout experience platforms, like Bolt, Fast, and PeachPay, which are democratizing similar one-click checkout flows.
Offer Multiple Payment Methods
One of the main reasons that forces consumers to cart abandonment isn't numerous payment methods. Conversion experts always suggest having various payment methods on the online store.
It’s easy to feature multiple payment methods kind of a mastercard , open-end credit , PayPal, etc. on WooCommerce. As a store owner, you would like to review that each payment method has different charges.
Many consumers wish to have their preference for his or her payment method and do not want to vary . If you limit them to a minimum of one option that they are forced to use, it can increase the cart abandonment rate.
Give customers as many payment options as you can. Because adding options costs money, prioritize major payment methods first, expanding as you go. Offer MasterCard, Visa, and PayPal, expanding to more specialized payment options when viable.
If you'd wish to reduce the abandonment cart rate, then you would like to affect these factors on your WooCommerce store. you will be ready to recover a big portion of sales by making a few of small tweaks.
Reduce Friction within the Buying Experience
Friction within the shopping/buying experience is arguably the foremost dangerous of the cart abandonment reasons so specializing in the customer experience is paramount.
Make sure that you simply regularly surfing your site, from home page to checkout, ensuring that your site is still up so far and there aren't any issues.
You should perform these checks across a variety of screen sizes, especially as mobile continues to grow in importance.
You can check site speed through some free services. We most frequently use Pingdom and Google Page speed Insights.
Show price in Multi-Currencies
Multi-currency reduces cart abandonment and may minimize refund and chargeback rates.
For any currencies you are doing not specify localized pricing for, the costs are going to be showed customers using real-time exchange rates. Customers will appreciate your straightforward approach to pricing also because of the lack of effort required to ascertain the worth within the currency of their preferred format.
You need to think about how you propose to display your pricing. this is often the simplest way to earn and keep your customers and potential customer’s trust.
If your customer sees the value in $ but they need to shop for in £, what proportion effort does one think they’ll fancy compute the conversions?
You have two options here:
- Show all the currencies on one product listing page.
- Have duplicate sites for each region or country.
There’s a benefit to both options and therefore the one you choose on will largely depend upon your own resource and budget.
As discussed earlier, just because an opportunity has abandoned their cart, it doesn't necessarily mean that they are not curious about your product.
There is an enormous possibility that they left because of some unforeseen reason, otherwise they could have completed the order.
The possibility becomes even stronger when the customer has actually started filling out the checkout form (entering their name, email address, etc.) before leaving.
If you do not want to lose such potential there's a method you'll bring back those lost sales by the subsequent procedure.
Sending Abandoned Cart Emails
Sending an abandoned cart email may be a good strategy to send your customers a friendly reminder about the product(s) within a follow-up email(s).
This is wonderful news considering that there are literally no costs involved on your part to sending follow-up emails, except perhaps some initial investment to set-up the method .
All that sounds great but how do i get the customer’s email within the primary place?
Depending on the software you employ to run your e-commerce store, there are many options available.
If you employ WooCommerce, you'll easily get your customer’s email address by installing a plugin that captures emails (entered by your customers within the checkout form) a bit like the Cart Lift plugin.
This plugin won't only assist you capture emails (and other customer data) but also automate the entire cart abandonment recovery process which may prevent many some time and energy.
It’s also worth mentioning that if cart abandonment emails are tailored well, they will assist you to upsell and cross-sell. For instance , you'll mention other products within the email or offer alternatives.
Winning back a bit of all the abandoned carts in your store isn't that tough to understand.
But you would like to have an solid plan and use the above mentioned methods efficiently to make sure maximum ROI.
Based on the reports and analytic results, If you'll apply them accurately, and make smart changes in your plan for your store, you will be ready to convert around 30% of your abandoned carts to successful purchases.