As an ecommerce store, you lose sales every time a shopping cart is abandoned. And this happens more often than you might think:
As of March 2020, according to statistics, brands across the world saw cart abandonment rates of 88%.
What that means is that almost 9 out of 10 people begin a purchase online and fail to finish it.
But this does not necessarily have to be the end of the story.
With cart recovery campaigns, you can turn the tide around and make a lot of revenue by getting people to come back and complete their purchases.
Tips to Convert Abandoned Shopping Carts
1. Build Trust into Your Transaction Forms
If you’re going to ask buyers to trust you with their personal information like their credit card details, then you had better go out of your way to make it very easy for them to do so.
Little things like placing the Norton security logo and others in prominent places of the transaction form can help you instill the trust that is necessary for buyers to finish the process.
2. Add a Progress Indicator
The shorter the checkout process is, the more likely that buyers are going to finish. But you know what else dissuades buyers from completing the checkout process as well? Not knowing whether it is going to take long or not.
You can take this worry out of the equation by adding a progress indicator to show potential buyers how many steps they have left to go through before completing the purchase.
3. Include Thumbnail Images of Products to Accompany Buyers Throughout the Process
This technique will anchor the buyer onto the purchase. Think about it: one of the great motivators of buying in a physical store is that you can see the product right there in front of you.
Add a thumbnail to accompany buyers online acts in the same way, building anticipation, eliminating distractions and hesitations till the purchase is complete.
4. Navigation Between Cart and Store Ought to Be Effortless
Making navigation between store and shopping cart as easy as possible is one of the most effective ways to reduce friction in the buying process. It is more easier said than done, however, and you want to constantly test the process to optimize it. Sometimes, reaching out for help from an experienced web developer is all you need to help you shine in this area.
5. Fully Commit to Rolling Out Cart Recovery Campaigns
To make abandonment campaigns work, you have to commit to them. Many businesses are happy to just dabble in it and that keeps them from going the extra miles needed crunch the numbers and really make things work as much as they could.
6. Be Timely and Act Fast
People who abandon their carts were seconds or minutes away from making a purchase. That makes the as hot as a lead can get. Hit the nail while it is still hot by going after them as fast as possible.
Your first email should be going out no later than 5 minutes. Yes.
The next two should be out before the 24 hour mark hits.
As you double down on investing in cart recovery campaigns, you might want to consider all options available to you like switching up your offer, creating urgency, or sweetening the deal in some way. Just commit yourself to the process and you can be sure your efforts will be rewarded.