5 Simple Tips to Improve Your Abandoned Cart Rate
Across industries, the abandoned cart rate is nearly 70%. With more and more people turning to online shopping, every retailer and eCommerce shop needs to consider what it can do to help lower these rates.
While getting them down to 0% isn’t likely anytime soon, lowering your abandonment rate even a few percentage points can translate into more customers and increased revenue.
That sounds like a win-win.
What you don’t want to do is assume high cart abandonment rates are what they are and move on. There are plenty of simple things you can do to help lower your rates.
Here are a few places to get started.
Have a re-engagement campaign
Every eCommerce shop and retailer should have an abandoned cart campaign to let their customers know they have something sitting in the cart. It’s standard practice by now.
But, make what you send stand out with personalization. When you identify shoppers who have left items in their carts, create emails that re-engage and bring them back.
Use the data you’ve collected on your customer to promote recommended products and include star ratings and reviews for the products they’ve left behind.
Check your website speed
If you’re on your phone and a page takes longer than a second or two to load, what do you do? In most cases, the answer is you close the tab and move on. According to Google, if your page load takes more than 5 seconds, 90% of visitors leave.
That’s a massive impact on eCommerce and retail sites. So if your site speed is slow and your customers can’t complete their purchases promptly, especially during busy times of the year like the holiday season, you’re going to lose them.
Make your emails personalized with Smart Bannners
Every eCommerce shop and retailer should have an abandoned cart campaign to let their customers know they have something sitting in the cart. But, rather than send a generic “you’ve left something” email, make it stand out with personalization.
Smart Banners feature live, personalized images that update in real-time. With one of these sitting at the top of every email you send, your customer will always know they’ve got something in their cart.
Personalize your Smart Banner to include images of the products, gifs, discount codes, and more. Plus, with a built-in CTA, it’s very easy for your reader to click and complete the purchase.
Review your checkout process
One of the biggest contributors to abandoned cart rates is a complex or time-consuming checkout process. People don’t like to be surprised, so if the price suddenly changes, or you’re tagging on massive shipping costs at the end, consumers will move on.
The same is true for needing to take extra time to create an account. Rather than forcing every customer to do this, and losing a bunch, offer guest checkout options. Make it quick and easy for them to buy so they’ll come back for more.
A great exercise is going through your checkout process on your own, via your phone, tablet, and computer. See where you may run into snags or small hurdles that may end up turning off potential customers.
Tap into emotions
Psychology plays a huge role in marketing, and maybe no emotions are more powerful than the fear of missing out, aka FOMO. Gently reminding customers that they could end up missing out on the item they put in their cart may be enough to get them to come back and buy.
With inventory and sales data, you can see which items are low in stock. Once you have that sort of information, use it in your emails to send more personalized content.
A Smart Banner or re-engagement reminder email that lets your customers know the item they liked is running out is a good strategy to have in your back pocket.
You may not be able to solve all your abandoned cart rate woes at once, but focusing on a few key ideas and improvements can translate into good news for your bottom line.