Shopping cart abandonment rates have grown to over 67% in 2014, pushing eCommerce companies to start looking at social solutions to increase conversion rates. After implementing one or more of the following tools designed to encourage checkout, companies saw shoppers convert, on average, at more than 5x their baseline conversion rates. See how the following 5 tools can boost ROI.

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1. A personalized shopping experience
Create an interactive shopping experience by recreating the feeling of shopping in store with friends for your customers. Add personalized product recommendations for your customers based on previous purchases or items saved in wishlists. Collect and utilize social data for smarter retargeting and personal touches like birthday promotions.

2. Showcase product reviews and ratings
More and more online consumers are comparison shopping before they check out. In order to make it easier for shoppers to trust your products, feature product ratings and reviews. In a recent study by Dimensional Research, 90% of consumers consult these reviews before making an informed decision.

3. Simplified checkout process
The less steps between a shopper wanting to buy an item and checkout, the better. Reduce the use of account creation forms by offering social logins. You will still be able to collect customer data, along with rich social data like verified emails, interests and likes, without the hassle for your shoppers.

4. Invest in top influencers
Implement rewards and incentivized loyalty programs to keep shoppers coming back to make more purchases more often. These top influencers also increase your social reach through shares and referrals. It is always easier to keep a current customer happy, than to invest in finding new ones.

5. Adding a second call to action
Sometimes, people are just not ready to buy. Instead of just having an abandoned shopping cart, suggest shoppers add their selected items to a social wishlist. This can be saved for later or shared with family and friends. Not only does this reduce shopping cart abandonment, it also increases your social reach.

Social is continuing to become a great solution for eCommerce. These 5 easy steps are just a snippet of how social can really influence eCommerce and boost ROI.

 

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