As much as eCommerce has improved in terms of ease of use, speed and security, the cart abandonment rate is still one of the main problems that online sellers face. A high churn rate can be detrimental as it means they are missing out on potential sales and leads.
Reducing the cart abandonment rate is of the utmost importance for any eCommerce since this helps improve the conversion rate and increase profitability. In addition, it also helps companies improve the user experience, increase trust and include new options to motivate their customers to complete their purchases, which translates into maximizing sales and profits.
There are many factors that can cause a user to abandon their shopping cart, such as additional shipping or service costs, lack of price transparency, encountering a complicated checkout process, not offering enough sense of security, few options in terms of payment methods and even technical problems that the website may present.
5 keys to improve the cart abandonment rate
There are several strategies that can be applied to improve the cart abandonment rate. Below we present 5 keys that you can apply to your eCommerce if what you are looking for is to generate sales and obtain new customers who had not finished taking the step of clicking “buy”.
1. Simplify the checkout process
When the payment process is very complex and long, customers often get impatient and abandon halfway through the process. Make sure the checkout process is quick and easy to understand by removing any unnecessary steps.
2. Transparent shopping experience
It provides the user with a transparent shopping experience in which they specify all the details of the product, including its total costs and shipping costs. This information will help customers feel confident in making the decision to buy.
3. Free shipping
The fact that a product has free shipping is a good incentive for the customer to decide to purchase it. Try to offer this service in several of your products or failing that, at a low cost so that the user does not leave the product abandoned just because of the shipping conditions.
4. Follow-up emails
Sometimes there is no reason for a person to abandon the shopping cart. Maybe you just forgot to complete the process and the products got registered in your account.
This is what follow-up emails are for. You can send an email in which the user is reminded in a friendly way that he has pending products to be completed for purchase, in addition to offering him a special promotion to encourage purchase.
5. Variety of payment methods
If payments are not flexible, you reduce the number of people who can buy in your eCommerce. If you add different options such as credit card payments, PayPal, Bizum and other popular methods, more users will make purchases.
Today there are different options to offer a variety of payment methods, as well as security (two points that will help you minimize abandoned carts). Paycomet offers multiple payment methods in a single click and without additional integrations, safe, easy to use and with the highest security standards, such as fraud detection and two-factor authentication, which help protect both customers and companies. businesses from potential security risks, thereby reducing cart abandonment rates.
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