How to Lower Your Magento Cart Abandonment Rates?
The cart abandonment event in online stores is when a customer places an item / items in their shopping cart but does not finish the order. It happens with almost 70% of the customers. It is estimated to amount close to $31 million worth of potential sales (worldwide).
As this event occurs at the last stage of the customer journey and is very close to the point of adding up additional revenue, it hides a big potential for your online store growth. (Check out exactly how much in this calculator.)
There might be different reasons for people to abandon their cart online – any external distraction, disappointment from the shopping experience with unclear steps, impersonal communication, lack of help while placing an order, etc.
How to Overcome the Obstacles and Win Back the Potential Revenue?
Divide your efforts into 3 stages:
- Preventive actions.
- On-site triggers.
- Follow-up campaigns.
Let’s go through them one by one!
1. Provide rich product content and brand information. “Size” and “material” sections are crucial in the buying decision process.
2. Include great and detailed visuals, displaying every detail with high quality.
3. Place urgency triggers on the product page like limited quantities information and the number of people watching the same product at the very same moment. Also, information if the offer is time-limited.
4. Set custom pop-ups with surprising offers or in case they try to leave a product or cart page. Use simple but engaging creatives to win back your prospect’s attention.
5. Make your best to offer free shipping and returns. 93% of online buyers are encouraged to buy more products if free shipping is included. Online customers find free shipping twice as compelling as a percent OFF the offers.
These are tips on how to afford free shipping.
1. Minimize your checkout steps. If possible, adjust them to only one.
BONUS: A one-step checkout extension with 10% OFF by Magestore. Grab it here.
2. Remove the obligatory registration or move it after the order is placed. Dropping mandatory registration can end up with about 45% more sales.
3. Design an easy-to-edit shopping cart. It must be effortless to add / remove items and adjust quantities. Also, to use promo codes and access product information.
4. Use clear but eye-catching design for the “shop now” and “buy” buttons. It must stand out!
5. Display cart triggers at all website pages. For example, you can use a drop-down menu on the category and product pages and display the cart content plus a button to lead to a direct checkout.
6. Include a progress bar in your website structure as an incentive for your website visitor to proceed to checkout, without any surprises.
7. 56% of customers abandon their purchases when they’re faced with an unexpected price as they get to the final checkout. Avoid hidden fees and any unclear pricing. Inform the customer about the cart amount as early as possible, especially in case you offer a free delivery.
8. Adjust your website design to be responsive, e.g. to fit any devices.
9. Also, to load very fast. You can test your Magento shop loading speed online.
10. Let people choose within multiple payment options – on delivery, credit card, PayPal, other local payment process services. Include all security information, badges, and protocols.
11. Add a wish-list option. 56% of shoppers aren’t ready to purchase but want to save their selection for later.
12. Include product recommendations and bundles at the shopping cart page. In this way, you can inspire your customer to add more products to the shopping cart – complementary products or last seen items.
13. 90% of customers consult ratings, reviews, and social media, before making a purchase decision. Let your customers share and look out for information without leaving your website and include social sharing buttons, product reviews, and ratings.
14. Make customers trust you and display security badges, product authenticity badges and satisfaction guarantees.
15. Be present throughout the checkout. Include clear instructions and direct links to your support. Also, you can add a life chat.
1. Reach out to your customers after they have left your website. Implement automated remarketing tools to win back these customers. You can set up dynamic retargeting campaigns with tools like Google, AdRoll, Retargeter.
The core remarketing tactics for Magento cart abandonment are summed up (with implementation tips) in a short 5-day email crash course.
2. Measure your cart abandonment rates. Here is how to set up Google Analytics tracking.
3. Improve your cart abandonment rates through testing every design changes and tool implementations. Use A/B testing, heat-mapping. Also, the Google tracking will help you overview your conversions and see where are the leaks.