A customer has put £10,000 into their shopping cart, then suddenly they abandon their shoping cart!
They were so close, yet so far, find out how to stop losing money now.
This is totally unbelievable and unforgivable!
If your business’ main channel of promotion and distribution is your website, depending on how your website is designed and configured, only 3 out of 10 visitors who have already opted into your cart window will pay, the 7 remaining will abandon your cart!
This is the plain ugly painful truth, according to Baymard Institute, an independent web usability research institute in the UK dedicated to documenting actionable online user experience since 2009. The glaring data was compiled from 22 different statistical researches on e-commerce cart abandonment.
The 7 out of 10 potential customers who fizzled out as they are about to buy (they got as close to the cart!) is the average of the total data. Which should make you shudder more to know that some stats came to as high as 8!
You have moved heaven and earth in the course of your website construction to get your website designed professionally hoping to get the right leads into your funnel’s mouth. The visitors got in and seemed to be disposed to follow your AIDA selling sequence: Attention-Interaction-Desire-Action as they came to the sales end – the cart.
And then, lo and behold, they drop you just like that, in your utter disbelief!
One can only surmise that their disposition to pay has been successfully massaged since they are about to pull out their credit card. What made them change their minds? Why do potential customers conk out at the last minute?
According to Statista, the reasons online shoppers abandon their carts vary from unexpected costs to high shipping charges to finding a cheaper product to slow loading time to non-availability of desired payment option, which are reasons that are all easily addressable even in the early design and development of the website.
If these were not considered in the initial design of the website for whatever reason, these data will appear if the website is audited. These research results are thus a confirmation only of what was lacking in the website right from the start, perhaps a common deficiency of start-ups.
Certainly, the most potent approach to dealing with these problems is to review and redesign the website with these critical items in mind. You can either do a wholesale overall review of your site, or you can tackle them in batches of work and see how your corrections fare while you are working on the next.
For example, for your first five, work on Items 1, 4, 6, 8 and 11. Get those costs up in front, review your overall costing, offer free shipping options, review your website’s loading time, simplify your navigation setup, and offer more convenient delivery methods.
For your second five, work on Items 2, 3, 5, 7 and 12. As you work on these, watch how the first five are faring. When you are done with these, follow suit with the last four, Items 9, 10, 13 and 14.
Of course, it is suggested that you must have a strategy for retargeting visitors who have earlier abandoned their carts by employing retargeting ads or email recovery campaigns.
7 out 10 dropping out is too much to bear. Did you know that when you focus on getting part of the 7 back by reviewing and improving your site with a new definite aim will not only give you a total of 10 successful sales but more?
Contact us and let’s talk about how we can convince more people not to abandon your cart.