Checkout abandonment is exactly what it sounds like: after you work hard and spend valuable marketing dollars to get a customer to your website, he or she starts shopping, but then abandons his or her purchase at the checkout stage. Here are 5 ways to fix checkout abandonment rate.
Checkout abandonment rate is the percentage of people who add an item to their cart and then navigate away from your page before they complete the purchase. Depending on the industry in which you operate, it is not uncommon to see a checkout abandonment rate ranging from 75% all the way up to 90%.
Here are 5 Strategies to Fix Checkout Abandonment Rate
1. Let customers see their progress
Many people who abandon the purchase do so after clicking through the first page or two of the checkout process. When they see that they are still not finished, they get bored and navigate away. By adding a small meter showing them how close they are to completion, e-commerce sites can help reduce checkout abandonment.
2. Don't force customers to create an account
While you might think that having customers create an account when they are checking out is a great idea, one of the primary drivers of checkout abandonment is the failure of offer a guest checkout option. Many customers don't want to create another account and deal with remembering yet another password.
Others are simply weary of being inundated with marketing emails and won't complete the transaction if they have to provide an email. Still others just don't want to take the time to do it. Whatever the reason, giving customers the option to just enter their payment and shipping information and then move on is a great way to reduce checkout abandonment rates.
3. Offer a guarantee
One weakness of e-commerce as opposed to traditional retail is that you are asking customers to commit to purchasing something they cannot see, feel, or hold beforehand. Sometimes a picture doesn't adequately convey the item they are considering.
For this reason, do your part to reassure customers. Offer an easy way to return the item for a refund if they don't want it. Most customers will never exercise this option, yet offering it can help fix checkout abandonment rate.
4. Display shipping costs up front
Hidden shipping costs are the leading cause for checkout abandonment. Customers may initiate the purchase thinking that they will pay a certain amount for the item, then balk at completing it when they see the shipping charge--especially if the shipping charge adds a significant amount to the purchase price. To prevent this, display the shipping charges as early in the process as possible. You may want to consider a flat shipping charge so you can display it even before customers enter their shipping address.
5. Employ remarketing strategies
Often, a customer who has abandoned his or her purchase can be brought back to your site if you simply use remarketing campaigns. A remarketing campaign works by displaying ads for your product when they visit other sites.
For example, if you are selling laptop computers, a remarketing campaign will display ads for your laptops when customers have left your site and are reading the news. By reminding them of your product, remarketing works to bring them back and complete the purchase.
Rermeber, Checkout abandonment can be overcome.
It's challenging to deal with customers who lose interest and wander to YouTube to watch cat videos before they complete the purchase on your website. However, by utilizing these strategies, you can minimize your checkout abandonment rate.
If you would like more information on ways to fix checkout abandonment rate, or other digital marketing tips, please feel free to contact us. We look forward to helping you grow your business.