It's not new to any e-commerce website. Customers who drive the cart till the end with much enthusiasm may change their mind even at the last minute. If you want to think about why, it's better you give yourself some time till the discount and sale seasons end.
Stocking your inventory for discount deals and sales is highly a business move, no doubt about it. Recently I had a conversation with one of my friends that runs an Online Fashion Store. I was surprised to listen to her business story. She was all happy about stocking her inventory with all styles and models of clothes.
“I am very excited about stocking my inventory. It's intoxicating. I feel highly equipped. However, as you bring it up, I don't have any idea about marketing, running a Sale or any discount.
And yeah, it's true. When I couldn't make a big sales conversion, it is truly disappointing. And it is equally disappointing to see my shopping carts being abandoned. People like my products. That's why they fill their shopping cart with my fashion products. However, I wonder why they leave their purchase incomplete.”
It was quite an interesting discussion. I realized that not everyone launched their online business with great insights and business ideas. Almost all businesses have come online. Taking business online has become a Fashion today. Templates are readily available. Launching a store has become as easy as pie.
But it's not all about being online. There is something more to it. It's about withstanding the changes, competition, and advancements. Business is not about stocking up inventory. It's about customers. It is about building loyalty and trust among customers. Sales conversions never happen out of magic. Colourful display, varieties, and luxurious look of your website are a few reasons that your customers are attracted to your online store. The success of your business is decided by the clients who push their shopping cart till checkout page.
Let’s get into detail about what are the five major factors that contribute to shopping cart abandonment.
Speed! Loading speed matters. People have shifted from retail shopping to e-retail shopping for one primary reason, Time. They don't want to waste their precious time on a slow loading page of your website. Slow loading page contributes to page abandonment, and later it may lead to shopping cart abandonment as well. Every second counts. Using images effectively, avoiding complex technologies, and keeping your page simple and sleek will help you save your business. Get God speed, and achieve success in business.
Making your site faster will do enough? Not at all. There is something more to it.
Online shops keep popping up. Online customers keep increasing. So do their doubtfulness. They always have a second thought about buying a product online. A slightest ambiguity in your product description will deter the customer from clicking the checkout button, even after adding the product to their shopping cart. They look for a brand. They look for perfect product description. Moreover, they want to know if buying from you is safe.
Try promoting confidence and trust throughout the site. Show your contact information everywhere possible. Send a reply to their e-mail that could boost their confidence that they are at the right place. Attend their queries on Instant Message Box in time. These are a few ways you could build trust in your customers' mind. Be above board and set your standard.
Checkout Process – Simplify it and Make it mobile-friendly.
Blow customer's mind with an easy to follow the checkout process. Asking a customer to fill up page after page forms may be much wanted for your website, but customers may not have much patience to spend more time filling them all. How about an Express Checkout Option? There you are. Such quick routes will work wonders for sure. Such options take the customers straight to the checkout page, and all they need is fewer forms to fill for the first time.
Give them a chance to save their card details for next purchase. After all, they do card verification to authenticate their purchase every time. Explain clearly about security, encryption and data protection policies your website follows. Your customers have all privilege to know how the data and card credentials are stored at your site. Using SSL certificate on your site will show the padlock while customers checkout. Keep the security logos visible on all pages. That gives them a high level of assurance that their information is safe. Moreover, make your website mobile-friendly.
Multiple Payment Methods
More are the banks; more are the payment methods. You would have done enough spade work before launching your online business. All payment gateways accept not all credits cards. Hence, it's wise to think about multiple payment methods and payment gateways that support, on the whole, all card types, and banks. Make sure you allow customers of various other credit cards other than Visa and Master Cards, and also some third party payment service providers. This helps you gain permanent customers to your shop, as they are pretty happy with the widest payment options you provide. Providing alternative payment method is another way to make the conversion. Move the goal posts as and when required. It assures you great success.
Shipping Charges – Real-time or Flat or Free?
It's a world known secret that shipping charge is the primary reason there is an abandoned shopping cart. More than 50 percent of customers are astonished by the unacceptable shipping costs stated at the last stage of the checkout process, and they abandon the cart without completing the purchase. Shipping and handling charges, without a doubt, influence shopping decision of a customer.
Real-time shipping charge: Real-time charge is a cost that is being paid to your shipping partner. And they don't confuse the price of the product with the shipping cost. Insert a calculator at the checkout process, so that the customers calculate their shipping costs on their own. Trust is the bonus you receive out of this method. Your customers will trust you for quoting the real-time shipping costs. It assures your customers that you don't inflate your prices.
Flat rate shipping is a method based on number of products or weight range of the products. Make sure, you don't under charge to see a loss.
Free shipping - Ebay started it; Amazon mastered it. Not all the customers are attracted by flat and real-time shipping charges. The majority of the online consumers are still falling for FREE shipping. Insert a message that order values above a certain size will be offered free shipping. Such promotional message not only guarantees conversion chances, but also increases the size of the order value.
Now, Go the extra mile.
Okay, you got everything you needed to avoid shopping cart abandonment, now, get the show on the road! Make your shopping cart readily accessible. An online business with promising customer satisfaction is doing a roaring trade these days. Get into the nitty-gritty of how things work, and hit the bull's eye. The more the advancements are, the higher the expectations of customers are. It's time to shape up your business or ship out. Think on your feet! Good luck!!