Thursday, July 25, 2013

How to Decrease Shopping Cart Abandonment and Increase Conversion Rates

One of the biggest elements of an ecommerce website is the checkout page. This is where conversions are finalized. So, what are some things that can be done to avoid shopping cart abandonment and to increase conversions?

An infographic created by Fifth Gear highlights some reasons why online shoppers bail on their purchases. The infographic can be viewed here. To highlight a few points:
  •  44 % thought shipping costs were too high.
  • 27 % wanted to shop around.
  • 14 % did not want to create an account with the merchant.
  • 11 % thought the checkout process was too complex.
  • 7 % said their preferred method of payment was not available.

Taking these points into consideration, there are three key elements that you should consider when it comes to your checkout page and shopping cart abandonment.

First, always offer the option of guest checkout. Consumers view creating an account as an obstacle, which may lead them to bail on their purchase. Guest checkout also makes the process of making a purchase easier for them.

The second key element is to provide consumers with incentives for shopping at your store. These incentives might include free shipping, buy one/get one specials or percentage discounts. With ecommerce, consumers rarely have to pay full price for an item. Further, since the Internet makes everything so convenient, it is easy to shop around and look for a better deal. In order to ensure your customers purchase the items they place in their shopping cart, promotions are crucial.

And finally, make sure all information is clear to customers. This includes listing prices and shipping rates, clearly displaying security icons, showing error messages when a form is missing an important piece of information and a progress bar that shows the user how many more steps need to be completed. All this should be done with a simple, organized design scheme.

Implementing these strategies will help increase your conversion rate and decrease your shopping cart abandonment rate.