Cart abandonment is a crucial factor to consider when developing a new eCommerce web product. Clients frequently invest a lot of time, effort, and resources into an established eCommerce website, yet customers abandon it during the checkout process. This is something that our digital agency has witnessed numerous times. According to Baymard Institute, an e-commerce research firm, the average online shopping cart abandonment rate is around 70%. Brands are trying to match consumers’ demands for ease, immediacy, and simplicity as they increasingly shop online using their mobile devices. The good news is that a fantastic user experience can help you reclaim them.
The key is to keep things simple
The relevance of mobile phones is no longer news. More than half of site traffic comes from mobile marketing.
But, mobile has fractured & fragmented consumer behavior into several short, fleeting mobile moments. Consumer expectations for simplicity and convenience are growing exponentially. Business Insider says that online businesses can recover around 63 percent of merchandise despite the growth in abandoned shopping carts. The objective is to make the checkout procedure as simple as possible.
In a classic checkout funnel, there are at least five steps:
With so many processes, it’s no surprise that mobile users are unhappy. Users aren’t abandoning their online shopping carts because the items are too expensive. They simply do not want to fill out time-consuming and/or onerous forms. Long forms requiring customers to provide shipping and payment information account for over 40% of online shopping cart abandonment. In fact, submitting the information is one of the top five reasons customers abandon their shopping carts.
Improving Cart Abandonment
You must optimize your checkout procedure to prevent online shopping cart abandonment. Make the demands of your customers and the devices they regularly use the focal point of your checkout design. Here are a few pointers to get you started:
- Allow auto-filling of forms
According to recent research, 46% of online customers consider checkout speed to be the most crucial element in deciding whether or not to return to a site. The longer it takes for a checkout page to conduct a transaction, the more concerned customers get that an issue has occurred. Enabling auto-fill forms, so customers don’t have to manually fill in shipping and payment information is a simple method to speed things up. Take it a step further and say you’ll keep this information for future purchases.
- Everything should be kept on the checkout page
Is there a coupon code available? Great. Make the code available on the checkout page itself. Consumers won’t have to abandon their shopping carts to pursue online coupon codes. Many online shops are beginning to provide a “tap it” option, in which customers can press a button at the begining of their shopping journey to have the discount applied to their online shopping cart instantly.
- Take note of the visual design.
Keep an eye on how color and design affect your customers. The color red is often associated with warnings, so seeing it on your checkout page may make people hesitant to complete a transaction.
- Follow-up should be automated.
According to the email marketing platform SaleCycle, 46 percent of all abandoned shopping cart emails (follow-up emails to customers who left things in their basket) were opened by recipients in a study of more than 200 businesses throughout the country. More than a third of email clicks brought shoppers back to the retailer’s website to make purchases.
It’s no secret that mobile is changing how people shop in today’s connected world. The issue for marketers is to elevate their brand’s online experience. To make brands more engaging, marketers must now anticipate consumer requirements. Simplifying the checkout procedure is a positive step forward.
The Hyper Fuel has worked with several ecommerce businesses, helping them refine their design & marketing strategy to streamline the customer journey and acquire new users efficiently. Get in touch with us today to know how we can help elevate your business.