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According to Business Insider approximately $4 trillion will be lost to shopping cart abandonment this year. Of this, about 63% is recoverable using the right combination of tools and strategy. Ecommerce shoppers are smart, when looking for a product they will browse multiple sites, seeking simple registration and a quick checkout process.They also take the time to compare your products, prices and shipping costs to that of your competitors. As a result, many online retailers experience high shopping cart abandonment rate.

 In order to reduce the number of customers abandoning their shopping carts, you must find ways to encourage customers to complete their online purchases. Here is a short list of steps you can take to help lower your shopping cart abandonment rate.

 

 Implement a loyalty program

 You can decrease shopping cart abandonment rates by implementing a loyalty program. By offering rewards to shoppers not only will they spend more money, they will come back to your site more frequently. Offering a rewards or loyalty program keeps your customers engaged and helps build lasting relationships.

 

Follow up emails

Leverage follow up emails by making them personalized with opportunities for them to save money and enticing them to return to your site. You should send follow-up emails right away to get them to come back. Reward them with coupons or free shipping offers. Track behavior to determine which email types are most effective.

 

Make registration quick and simple.

 One of the biggest reasons for the high shopping cart abandonment rate is forced registration requirements. Requiring registration to make a purchase distracts the customer and halts the purchasing momentum. Another factor is security, many consumers are wary of inputting their personal information  such as their credit card and address during the registration process. However, registering accounts and collecting customer’s personal information are vital for your ecommerce business. The best way to remedy the issue while still collecting valuable information is by adding a social login option. By having the user register with one of their already active social accounts, it removes the hassle of long registration forms and remembering passwords. Registering with one click of the mouse automatically simplifies the checkout process. By lowering these barriers, it seeds the process for your customers to get what they want when they want it.

 

Retargeting

Run a retargeting campaign. Retargeting allows you to connect with lost customers and encourage them to return to your website. Retargeting works by connecting with customers as they browse other websites on the internet. While on another website, blog or in their email, they will see ads for the products they left in their abandoned shopping carts as a reminder of things they wanted to buy. You can encourage shoppers to return with ads for special deals such as free shipping. A great example is Footlocker, if they have a customer that has abandoned their shopping cart they will display ads of the shoes wherever the shopper goes and after a few days they will email the customer with a special offer to finish their purchase.

 

Let them know you are available

 One of the biggest reasons that shoppers will not buy is because they feel you are hiding your contact information. This creates a sense of distrust that ultimately leads to customers leaving your site and purchasing from one of your more transparent competitors. Make sure your contact information is in a visible place and prominent on every single page allowing your customers to contact you with questions and concerns.

Building customer trust by offering the best options in shipping and promotions will help you see improvements in online conversions. Loyalty programs and quick registration options such as social login increase shopper satisfaction and engagement that can ultimately lead to positive reviews, more purchases, and new customers.

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  1. avatar
    Liam James
    on February 15, 2015 at 4:16 pm

    fantastic usage of words inside the piece, it in fact did help when i was surfing around

  2. avatar
    Akbar Jaffer
    on January 31, 2015 at 2:23 am

    Exit Popups! Totally cool. We have noted.

    In terms of mobile shopping, I feel the jury is still out. The lines are no doubt blurring between Social and Mobile however the shopper behaviors are all over the map. Some browse on tablet but buy on their laptop, some do price shopping on their smart phone while standing in the middle of Best Buy. For now Social Annex products are implemented in Responsive for customers who request it.

  3. avatar
    Emily
    on January 30, 2015 at 7:06 am

    As Corey mentioned cart abandonment rate had increased 20% in the past 7 years.

    Thats why we need to look for and use new tools to fight that.
    Among your tips I did not see exit popups.

    I work with MaxTraffic, we provide a marketing tool that turns abandoning visitors into customers with exit popups – http://maxtraffic.com
    We see that this tools is really helping to decrease cart abandonment rate for our clients!

  4. avatar
    Corey
    on January 27, 2015 at 9:15 pm

    Loved the post. I came across BI Intelligence’s research as well. Have you considered the shift from web to mobile that has taken place in recent years and how it may be affecting this number? In addition to the $4 trillion worth of abandoned merchandise, BI Intelligence also reported that the cart abandonment rate had increased 20% in the past 7 years.

    I think it’s important to address the fact that consumers are easily frustrated and disappointed by poor mobile experiences, which may be partially to blame for this increasing cart abandonment rate. If you’re interested, take a look at Artisan Mobile’s blog post that dives into the mobile component of this growing problem for retailers.

    http://useartisan.com/blog/combating-mobile-cart-abandonment/

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