Have you ever come across an e-commerce website to glance around, and end up adding items to your shopping bag but never actually completed the order? That’s what we call an “Abandoned Cart”! Maybe you didn’t like the product, thought it was too expensive, or decided it was an impulse purchase. In any case, if you run an online store, you would want to prevent this from happening as much as possible. With the growth of online stores, shopping cart abandonment issues continue to rise. Recent studies show that only 1 out of 4 customers actually complete the purchase! Now, imagine if you can get 2 out of 4 customers to finish their checkout; that would instantly double your revenue without even diving into any complex SEO. How much more revenue and profits are you missing out on? Let’s dive a little deeper into this common issue so you can help reduce Magento shopping cart abandonment on your e-commerce website.
1. Having Strong Call-To-Actions
To effectively get results from your customers, we encourage having strong call-to-actions on the website that will give your customers a sense of urgency. A call-to-action is an instruction to the audience to provoke an immediate response. It can be an awesome deal that is only good for 1 day, or an “exclusive, limited time” offer. This will entice your customers to buy as quickly as possible since they don’t want to let go of a good deal. Without urgency, customers can lose interest quickly, bounce from the website, and even completely forgetting to complete their purchase at a later time. Here are some effective calls to actions that are commonly presented:
– A button
– Plain text that offers promotions, discounts,etc.
– Clear images
Every business has different call-to-actions that work for them. We advise every business owner to try out different methods and see which one works the best. Testing variations will help you decide which practice will get you the most optimal results.
2. 1-Page Checkout
Once your customers land on the checkout page, it does require them to fill out quite a bit of information – billing address, shipping address, credit card info, etc. Some websites even require users to check out with a registered account (No way of checking out as a guest). Can you imagine having to go through so many hoops just to make an online purchase? Frustrated customers will eventually give up and therefore, abandon the shopping cart. According to KISSmetrics, 42% of online shoppers actually abandon their cart when they are asked to fill out too much information. A powerful and impressive tool we’d like to suggest to our E-commerce clients is the Magento “1-page-checkout”. The 1-page-checkout extension makes the checkout process easier, more efficient, and less “clicks” for the users. Here’s a side by side comparison between a 1 page checkout and the standard accordion step-by-step –
3. Disclose all Fees (No Hidden Costs!)
Another huge reason why customers abandon their cart is due to the additional fees that they see once they’re on the checkout page. Some hidden costs might be shipping & handling, add-on expenses, and other unexpected fees. Your shoppers have already browsed through pages of products to find the one they decided to pay for with an expected total price in mind. By adding on hidden fees, not only will this upset your customers, it will also discourage them from completing the checkout process. If there are any hidden fees or additional costs they need to consider, it should be prominently displayed on the website so there are no surprises. If shipping is an issue, there is always a shipping calculator that can be installed so your customers can get a final price that they are comfortable with.
These strategies will help reduce Magento shopping cart abandonment issues in a significant way if they are implemented and measured correctly. These are just the most common tips to have a more profitable and user-friendly Magento website. To learn more about solving your shopping cart abandonment issues, please contact our Magento experts below!