Discover the secrets to recovering lost sales from abandoned carts and increase your e-commerce conversions.
- Up to 70% of sales are lost due to abandoned carts in e-commerce.- Common causes of abandoned carts include shipping costs, mandatory account creation, payment security concerns, complicated checkout procedures, and bad web design.- Strategies to improve conversions on abandoned carts include eliminating additional costs, allowing purchases without creating an account, utilizing commonly used payment services, simplifying the checkout process, and ensuring optimal web design.- Personalized video messages can be a powerful tool to grab customers' attention and instill trust, offering discounts, recommendations, and personalized communication at scale.
You might be losing up to 70% of your sales to abandoned carts. A tragic e-commerce story where the buyer is interested up until somewhere in the process where they decide not to finalize their purchase, leaving behind an abandoned cart. But what is the breaking point? And is there a way to fix it and gain back the customers that would otherwise be lost to the abandoned cart tragedy? Below, you can find five common causes and ways to improve on them to increase conversions on those abandoned carts.
1. Shipping Costs, Taxes, and Fees
According to the Baymard Institute, 48% of shoppers abandoned shopping carts because of the extra costs. Customers dislike the idea of paying additional fees on top of the purchase price. There are a few strategies that can be followed to prevent abandoned carts due to additional costs:
► Eliminating additional costs if a cart passes a purchase threshold.
► Eliminating additional costs for popular items with lower costs.
► Raising prices to include additional costs, therefore eliminating them from the storefront purchase process.
2. Mandatory Account Creation
It is a great way of collecting user data and retargeting customers in the long run, but it also takes effort. If a customer intends to just make one purchase, they might not see the point. They don't want to put in the effort; it signifies another password to remember. Also, they might simply not trust your brand. There go your unpurchased goods, left in the cart to be forgotten. Allowing purchases without creating an account is a simple way to remove this barrier. Or if you insist on growing your database, offer a very simple sign up process, asking for as little information as possible.
3. Payment Security Concerns
One of the main reasons a customer might decide not to finalize a purchase is that they don't trust a website with their credit card information. Customers may be deterred from making a purchase by warning signs such as an old website design, the absence of an SSL certificate, or an unfamiliar payment gateway. The best way to eliminate this deterrent is to utilize commonly used payment services and to include user testimonials, etc. on your website and social media to provide social proof.
4. Complicated Checkout Procedure
Any unnecessary step that makes the check out process longer and more complicated than it should be is a deterrent for customers. Asking for too much information, confusion in website design, as well as failure to clearly frame the various steps of purchase, can all contribute to cart abandonment. According to the Baymard Institute, improved checkout designs can raise conversion rates for ecommerce firms by 35.26%.
5. Bad Web Design
A website with errors and crashes is a great way to make your customers run and never look back. And your pages taking too long to load can deter your customers from proceeding with their shopping just as much. Making sure that your website has an optimal user experience and speed is a great way of avoiding abandonment due to design issues and will leave a better brand impression overall.
Your Secret Weapon: Personalized Video Messages
A tactic utilized by many e-commerce stores is sending abandoned cart emails, texts, and messages to customers in hopes of persuading them to go through with checkout. Adding an interesting subject line, offering discount codes, including testimonials, and reserving items for the customer are all good strategies, but there might be an even better way of grabbing your customers' attention and instilling trust.
With our platform's ability to create personalized videos at scale by spending the time and effort it takes to create just one. You can send your customers a video personally addressing them, perhaps offering a discount or letting them know that you will inform them if there is ever a discount on the items in their cart. You can make recommendations related to the items they have abandoned and offer free shipping. Our AI technology will do the hard work for you, allowing you to personalize your communication efforts even on a massive scale, so that you can provide all of your customers with the care and attention they deserve.
Sign up for our platform today to utilize quick and easy personalization at scale.
To learn more about the other ways you can utilize BHuman.ai for your business, visit our site at BHuman.ai. You can also contact us at email@example.com and we will be happy to inspire you in all the ways you can use BHuman.ai to improve your communication efforts.