According to research, 69.23% is the abandonment rate of the shopping cart worldwide today. As you can see, the problem of abandoned carts is a serious issue and must be tackled with the utmost competence. Before trying to solve the problem, we must try to understand the exact reasons why potential customers may decide not to buy from your online store.
Why do Customers Abandon Shopping Carts?
For most e-commerce businesses, the root of the problem stems from 6 common problems:
- Lack of confidence – The main reason why online consumers abandon their carts before the conversion has to do with trust. Despite the increasing popularity of online shopping, consumers are still relatively cautious in freely providing their personal information to another company on the Internet. If they don’t feel confident about who will handle their information, they simply won’t take a risk or proceed with the purchase.
- Lack of transparency – Another reason consumers do not complete purchases has to do with transparency. Particularly if during the purchase phases they discover additional costs not mentioned (such as shipping costs), hidden or even worse difficult to understand, they may not buy.
- Bad User Experience – The user experience, namely the fluidity of navigation, clarity, page loading speed, compatibility with mobile devices, are all aspects that have to do with the User experience. All these aspects together can positively influence the propensity to purchase and consequently increase the trust placed in the site. Remember that for every second of waiting while the pages are loading, you will lose 7% of conversions (completion of the purchase).
- Lack of return conditions – Commercial policies on returns (return of products) are decisive in those who choose to make an online purchase. This is the first information they are still looking for before making the purchase. The lack of this information has to do with the lack of transparency, as highlighted earlier. It’s best to provide all the information immediately so that it is clear and transparent.
- Payment methods – Offering a limited number of payment options usually results in Cart Abandonment, thus preventing you from converting much.
- Registration to the site – Asking customers to register for every single purchase can make potential buyers nervous and make the purchase appear online as a waste of unnecessary time. This could greatly reduce your conversion capacity.
How to Prevent Cart Abandonment Using OptinMonster
Being a seller, you definitely want more people to buy your products to earn a good amount of profit, and for this, it is important to reduce the cart abandonment rate on your website. This can be made possible through the use of the OptinMonster.
The OptinMonster is an excellent lead generation plugin, and its not only just a classic email newsletter plugin, but it also has numerous features to help you combat cart abandonment. This includes:
From studies, it has been observed that 80% of site visitors will never come back to a particular site. To this end, it’s best to present an exit-intent optin which will convert your website visitors into your loyal subscribers.
By making use of the OptinMonster and its exit-intent tech, you can easily display a subscription form to your visitors just before they begin to exit your site.
OptinMonster Countdown Timer
The art of scarcity is a great marketing technology which can be used to rapidly enhance sales and decrease cart abandonment. As a result, the countdown timer would be a great choice.
If you decide to give a special discount or free shipping for a limited amount of time to your clients, you can make use of this countdown timer to make them aware. The countdown timer has the ability to be customized, and could as well combine the countdown timer with any optin form you desire.
Coupon Wheel Optins
The Coupon Wheel comes as an exciting and brand new item which is greatly trending today. You could make use of the spin wheel and exit-intent technology to reduce shopping cart abandonment.
When a visitor decides to exit your site, the exit-intent tech would put up the coupon wheel optin. When he enters his email address in the provided field, he can then see a limited time coupon. By making use of this, you could increase the number of subscribers on your email list and also reduce the incidences of cart abandonment on your site.
Other OptinMonster Features To Reduce Cart Abandonment:
▪ Monster Links
▪ Full Screen Welcome Mat
▪ Geo-Location Targeting
▪ Yes/ No Forms
▪ Floating Bar
▪ Content Locker
▪ Inline Forms
and much more… You can check out all features at the OptinMonster website.
How do Email Lists Decrease Cart Abandonment?
Upon harvesting the mail addresses of your site’s visitors, you can start sending them promotional messages, or information on discount coupons and freebies. By keeping your subscribers busy and updated about your business, they will return back to your site to make a purchase.
The OptinMonster has the possibility of being integrated with numerous email marketing providers, CRM’s, and solutions. With this, the chances of Cart Abandonment on your site would be greatly reduced.
OptinMonster can be integrated with almost all email marketing providers, CRM’s, and solutions.
Conclusion: How to Prevent Cart Abandonment
In conclusion, the online shopping market has been taking a stand, and more and more people are investing in this business. But despite the broad potential for growth and sales, e-commerce faces a major problem when it comes to conversion, the dreaded abandonment of the shopping cart.
Virtually all the online stores that exist have the shopping cart. It is a standard tool within the e-commerce interface, which allows the user to add several desired items and still continue browsing the site. The abandonment of shopping carts is a problem that affects virtual stores of all segments. It is common and even natural for the customer to like a product, put it in the shopping cart, and give up the purchase in the final steps, before finalizing the payment. As a result, this problem needs to be identified and properly fixed through the help of the OptinMonster, as highlighted above.