How to reduce cart abandonment rate in online sales?

 

During the purchasing process, there are several processes and procedures your customers go through that can prevent you from closing the deal.

A key issue is to understand why the shopping cart is being abandoned.

Are there any obstacles on the purchase page? Any mental triggers that make you give up?

What about the site, is it intuitive? Does the consumer easily get to the shopping page? If the path to completion is difficult, he may simply give up buying right away.

These small issues can be more decisive than you think.

How to calculate cart abandonment rate?

Other metrics on your site can help you check your cart abandonment rate.

There are several ways to do this calculation and it will depend on what you and your team define as “cart abandonment”. For example, you can consider abandoning anyone who has added product to the shopping cart but has not proceeded to checkout or checkout.

Another way to get to this indicator is to analyze the number of people who added and made it to the first page of checkout, but stopped there.

Do you realize that there are two different ways to measure this data? In some cases, it’s not worth measuring according to the first one because people tend to just look at a few products and put them in the cart, and using this metric, the index could be too high.

But, after defining what the cart abandonment would be, to calculate the index, you must divide the number of purchases made by the number of abandoned carts. Then subtract the result by 1 and multiply by 100 to find the index value in percentage.

Example: 

In one store, in a given month, 300 people abandoned their carts without completing the purchase, and 25 effectively ended this path.

Cart abandonment rate = 25 / 100 = 0.75

1 – 0.75 = 0.25, multiplied by 100 = 25% – Cart abandonment rate

Why do people abandon the cart?

According to a survey by Barrilance, updated in February 2020, the average rate of abandonment of carts in online stores worldwide is 77.73%.

This means that less than 23% of people who add products to their cart, go all the way with the purchase.

This is a worrying factor for any business, be it B2B or B2C. To devise strategies to reduce this rate in your company, it is first important to understand the reasons that will fuel this problem.

According to some studies, the main reasons for this phenomenon are:

    • Lack of free shipping or shipping more expensive than expected: the lack of free shipping, even for large purchases, discourages consumers. In some cases, in addition to paying for shipping, the value is high, which only increases the chance of giving up;
    • Checkout page load delay and/or checkout page errors: page load speed is directly related to user experience. The slower, the less satisfied the customer is. Furthermore, when the pages have errors, users tend to give up on the purchase, even for fear of having a problem with the payment. When the customer types;
    • Cart page not mobile-optimized: Nothing more annoying than entering a page that doesn’t load properly on mobile. This is one of the reasons, according to Barrilance, why users leave the purchase page;
    • Too many fields to be filled or too complicated passwords to create: all these points extend the time it takes the consumer to make the purchase. This discourages you from completing the procedure.

These are just some of the items that lead consumers to give up on a purchase. There are also factors external to the site, such as seeing that the competition has a lower price or noticing that another site offers free shipping, and even forgetting to finalize the purchase thinking that you already bought it.

In B2B sales , which usually have more complex acquisition and contracting processes, it is also important that there is clarity about all the attributes of the product or service, information related to billing and payment process and, preferably, easy access to a virtual service that can resolve any questions regarding the purchase.

We already understand the reasons, now, what to do to reduce this cart abandonment rate? We have separated some tips.

Strategies to Reduce Cart Abandonment Rate

The strategies used for this purpose vary from company to company. Not all of them will work in any case, they won’t even be possible.

Therefore, before making a change in your business, think exactly which one best fits your planning.

Some precautions you can take:

Make registering users easier

Make the purchase process as easy as possible. Avoid asking for unnecessary information that will only increase filling time and extend the shopping process.

A simple example is to offer the option to search for zip code directly on the registration page. Sometimes people don’t know it by heart and will have to go to another page to search from the address.

You can make this process easier with a link to the Post Offices page for zip code by address search.

Another strategy is to make this process always intuitive. Personal information all in one place and then payment information. In the case of sales to legal entities, the information requested may also be information that will actually be relevant for billing and shipping and, in addition, with details on where to find certain data.

At this point, reinforce your company’s concern with security, inserting consumer data protection certificates.

Test your sales pages

As we said at the beginning, any difficulty on the way to purchase can leave the consumer unmotivated to continue.

So ask a few people to test your sales page, start to finish, to see if everything works smoothly. It is necessary to deliver pages where the path is easy and accessible for any customer.

Take the opportunity to ask your test users how the page is loading, if there are any errors or payment problems.

Correctly inform shipping and delivery time

Deadline and shipping are issues that define a lot an order. Think about your purchases, how many times have you given up on something just for the price of shipping?

Furthermore, when a customer feels cheated in a purchase, he is unlikely to be interested in continuing.

This happens with “free shipping” announcements that will only inform you, in the end that free shipping is only for some regions, for example.

Therefore, make clear to your customer the conditions of purchase of the products to avoid them feeling aggrieved when placing the order.

As for the deadline, also let him know the actual deadline – maybe even longer than expected! It’s better to deliver early and surprise them positively than deliver late and make a bad impression.

Expand payment methods

This is a tip that should have become the rule. Offer as many payment options as possible!

It is understandable that dealing with credit card and financial agencies is quite difficult – and sometimes bureaucratic. But think about the earnings for your service!

There are great options for payment methods on the market, with many advantages and options. Choose yours well.

Considering, also, that some companies have specific rules for making online purchases, leave a contact channel to assist in receiving or sending certain documents, such as purchase orders, for example.

Use an email segmentation feature

Some platforms already offer services, integrated with the payment, that help identify the user who started the purchase process but didn’t finish it.

With these tools, you can create email targets for users who have placed items in their cart and haven’t returned. Send a reminder or discount coupon that may encourage you to checkout.

These strategies can be very useful to increase your sales! In all cases, never forget the obligation to issue the invoice.

If you still have doubts, see here what the risks of selling without invoice are.