Shopping Cart Abandonment can be one of the worst nightmares for an ecommerce website. After all, the hard reality that everyday an ecommerce website loses thousands of customers that were just a few clicks away from making purchase, is not easy to digest. Research by Baynard Institute stated that the rate of shopping cart abandonment can vary from 55% to 80.3%. Every year ecom stores lose anywhere from $18b to $31 million due to shopping cart abandonment.
The prime reasons behind high shopping cart rates include complicated registration process, irrelevant product recommendations, security related issues. In order to prevent this, in this article I have compiled five surefire ways that can reduce shopping cart abandonment :
Eliminate the barrier to entry :
Collecting visitor information is no doubt important for business as the more data you have about your audience, the better experience you can provide them. But bombarding visitors with a long registration form in order to collect user data might force them to abandon the cart and leave the site. To combat this. the entry to website should be as simple as one click.
With the help of social media login, visitors can authenticate themselves with a single click from their existing social identities. Also known as Social Network login, Social media login, it provides businesses permission based first party user data which is of highly value to them.
Personalize user experience by showing relevant product recommendations :
By accessing user data with social sign in, businesses can create comprehensive profile based on customers likes, dislikes, interests, etc.This data helps marketers to offer personalized experience to their customers by recommending more relevant products which moves them further down the purchase funnel. This user data also helps marketers for smarter re-targeting and personal touches.
Simplify the checkout process :
Your website makes the user navigate to too many pages and answer too many questions before making the purchase. If the user doesn’t have that much time, then this effort required to complete the purchase can become quite an issue for your business. The less time between a user wants to buy a product and checkout, the better. If your business requires user to register at the end, social login feature once again makes this process frictionless.
Build trust with Social Login :
In general users are quite comfortable buying products from big popular ecom website but when it comes to new or less popular websites, users are not sure about their security features. Customers now a days want secure technology that they can trust and social sites are one of them. With social sign in, visitors don’t provide their password in the website’s hands. Online users are getting smarter about selecting stronger passwords for the site they visit most frequently and social media networks are definitely one of them which makes their accounts less prone to hacking and build their trust for secure purchase.
Showcase product review and ratings :
While shopping online, users rely on input from their friends, family and other customers who have bought the same product. As per the survey by Marketland, 90% users admit that their buying decisions are influenced by reviews. Showcasing customer review and ratings helps customers to find out the opinions of users who have bought the same product. It helps with shopping cart abandonment issue by making it more likely for the user to complete purchase due to reading a positive review.
Shopping cart abandonment is faced by almost every eCommerce store but with the tips mentioned above, marketers can surely reduce cart abandonment rates. By offering the user a better experience and removing any kind of barrier, users will stick around and most likely to complete the purchase thereby leading to higher shopping cart conversions.