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Shopping online is the easiest thing to do these days. The ever changing technology has helped in bringing everything, just a click away. With increased exposure to e-commerce websites, the consumers are becoming smart and rational while taking all their steps online. But when buyers visit your store and move out without completing the purchase process, your sales drop down. This is called shopping cart abandonment, when your potential customer just adds the product to their carts but not completing the entire checkout process.
But do not worry; market analysis suggests that shopping cart abandonment can be reduced to a great extent through digital marketing strategies. These easy ways will not only help you reduce abandonment rates but increase your sales considerably.
Statistics suggest that cart abandonment rates are as high as 69.23% in the market. This means that out of 4 customers who visit your web store with an intent to purchase, only 1 of them actually completes the purchase process.
57% of the customers did not want to pay the actual shipping costs while 47% felt that the cost of purchase was more than expected.
27% of the customers wanted a discount coupon along with 24% who were seeking other payment options.
15% also felt that the checkout process was too tedious and complicated.
Also, average shopping cart abandonment rates are as high as 87%, rising more during weekends.
Image source: kissmetrics.com
Image source: Internet marketing Inc
Here are some of the ways that will definitely help you get an extra edge over conversions and reduce cart abandonment:
Cart abandonments are easy to spot as the customer tries to have a look at all their options, before making an actual purchase. These customers can be targeted again through remarketing.
Try to send cart recovery emails to these customers with attractive subject lines. Offer them enticing incentives through the emails so that they get back to completing their checkout process. Remarketing campaigns is one of the best shots for online retailers to approach their potential customers. If you miss out on this, you are letting go of a big opportunity to grow your sales.
Digital marketing can be effectively used in such cases. Facebook ads are ideal to capture a quick view of your product and have a great capacity to draw sales.
Google AdWords (online advertising service by Google)or Bing Ads are too a decent way to advertise your products that do not require too much imagery. It is therefore a wonderful way to win back your prospective customers and reduce shopping cart abandonment rates significantly.
Statistics suggest that 72% of millennial shoppers agree to retargeting.
Image source: wordstream.com
For any digital marketing strategy to work perfectly, you need to know about your audience. Awareness about your audience can help you build up a great content for your digital marketing campaign.
Creating an idea of customer persona is the first step towards your digital marketing success. Customer personas tell you a great deal about your quintessential customer. You need to conduct surveys, interviews or researching to know your business’s target customer instead of making incorrect assumptions.
To get a perfect picture of your buyer persona, it is advised that your research pool consists of a wide variety of audience, even those who lie outside of your contact list. This will help you know about your potential customers. Quantitative information like Location, Age, Job title, Income, Goals, Hobbies etc can be used to identify correct segments and know about your online traffic.
Image source: kissmetrics.com
Marketing channels consist of the platforms where your brand is active online, like your website, blogs, guest posts, advertising posts etc.
Explore and recognize your marketing channels well, as you proceed to fill your abandoned carts. Your digital marketing channels include your owned media, earned media and the paid media. Try to earn media by PR efforts and delivered customer experience as it is the reaction you receive for your digital marketing efforts. Make your content sharable through these channels to reach out to a larger customer base because the more you share your content, more will be the corresponding conversions.
Shopping cart abandonments can also be avoided to a great extent by highlighting discount coupons on your store’s webpage. When a customer adds a product to their cart, it is necessary that they see the offer attached to it. This will create the perception of savings for the customer that will compel them to complete the buying process.
Make a point to display the offers to your customer during the checkout process so that the cart abandoning can be mitigated. Offers and discounts always give reasons to the customer to make purchases. You can also give a discount coupon for the next purchase that the buyer makes.
According to E tailing survey, 62% of the online shoppers believed that it is essential for the e commerce stores to offer vital offers and discounts. 54% of customers suggested that they are willing to buy products left in cart if they are offered at lower prices.
Image source: kissmetrics.com
Progress indicator track the advancement of a customer’s purchase. A progress indicator assures the customer that purchasing a good from your store will not take unusual amount of time. The buyer is well aware of the exact point where they are in the checkout process. It will guarantee the customer that the checkout process is easy and almost done and they will soon be back to their work.
According to the customer analysis, most of them believe that when shopping online, they prefer a clear and distinct indication of their purchase status.
Image source: wordstream.com
Navigation through the store and cart encourages smoothness and ease of shopping. Customer should be able to add products to their cart along with viewing other products on your store simultaneously. It is rare to find that the customers easily decide on a product and go to check out immediately. Instead they take their time and keep revisiting the store along with making changes to their cart. The more flexibility you have between your cart and shopping store, more will customers stick to it.
Image source: wordstream.com
The way you display your products directly impacts your actual purchase. Make sure to use high quality images to display your products. Adding thumbnail of products in the cart is another way of assuring the customer of the product they are purchasing. By adding thumbnail of products you are reminding the customer of what they are actually doing. This can be used as a grounding technique to compel the customer to complete the checkout process.
Just like the progress indicator, thumbnail images are an important for reducing the cart abandonment rate.
Image source: wordstream.com
Customers find it easy to buy from your website, if you are facilitating them with various payment options. They can choose whichever option suits them the best. Market research shows that cart checkout rates are higher for stores that provide customers with a wide range of payment options. When digitally marketing your products, you do not want anything else to come between your customer and the satisfying experience you want to provide them.
Providing multiple payment options guarantees a seamless shopping experience along with avoiding any unnecessary hurdles coming in between your sale process.
Image source: amazon.in (payment options)
Every customer wants to compare and get the best buy before making an actual purchase. Add comparison for the product on your store so that the buyer knows that you are offering a better price for the product. There is hardly a web store where you do not find customer’s opinion and reviews. The average buyer these days knows about it.
Place it in front of your potential buyer at the right time when they are shopping from your site. This also leads to an increase in your Search Engine Optimization(SEO), when customers add reviews for your products.
Unexpected costs can seriously damage your reputation in the ecommerce market and leave a bad impact on your buyers. Customers hate to pay any hidden costs involved during the purchase. One of the most outrageous costs that the customers find hidden is the shipping charges.
Therefore, it becomes important that you clearly mention the shipping costs and other delivery costs along the product to avoid unnecessary cart abandonment.
According to UPS, out of all costs involved in online shopping, shipping costs are universally disinclined. Try to add a shipping calculator that is available to the customer prior to purchase so that a level of transparency exists with the buyer.
Image source: wordstream.com
Shopping cart abandonment is one of the major problems faced today but are bound to happen, as customer has exposure to a multi diverse range of options and devices. They can be reduced by smart marketing techniques and remarketing digital campaigns. Digital marketing is thus becoming a boon to all the online marketers waiting for an opportunity to grow their business to an unparalleled platform. So, go target your customers again with effective ways and fill your abandoned carts with digital marketing.
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