Shopping Cart Optimization for eCommerce Web Sites

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Tips for optimizing conversion rate on eCommerce websites.

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Shopping Cart Optimization for eCommerce Web Sites

  1. 1. August 25, 2009SHOPPING CART OPTIMIZATIONGuest Speaker f k from Red Door Interactive dCharles Wiedenhoft, Director of Business Planning & Optimization
  2. 2. Shopping Cart Optimization Introduction  Abandonment trends  Reducing abandonment Reducing abandonment  Data‐driven strategy  Q&A7/21/2012 ©2009 Red Door Interactive 5
  3. 3. Shopping Cart Optimization Abandonment trends70 Shopping Cart Abandonment % -3.1%68 Projected retail  Projected retail66 e‐commerce sales 64 decline in 2009. eMarketer: Retail E‐Commerce Continues 62 Slow Slide  Slow Slide http://bit.ly/AXISR  60 Twitter: @eMarketer5856 Apr  p May y Jun Jul Aug g Sep p Oct Nov Dec Jan Feb Mar Current Year Previous Year Coremetrics 2nd Annual Online Retail Holiday Optimization Guide 2nd Annual Online Retail Holiday Optimization Guide  http://bit.ly/ut9aS  |  @coremetrics 67/21/2012 ©2009 Red Door Interactive
  4. 4. Shopping Cart Optimization Breaking it down g Reasons for Cart Abandonment $109 High shipping charges The average cost  Wanted to comparison shop of abandoned  f b d d Lack of money goods. Wanted to look for a coupon PayPal Checkout Abandonment Study Wanted to shop offline http://bit.ly/LS50e   |  Twitter @PayPal Couldnt find preferred pay option p p y p 79% Item was unavailable at checkout Couldnt find customer supportConcerned about security of credit card data 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Retailers who  identified cart  PayPal Checkout Abandonment Study and checkout as  http://bit.ly/LS50e   |  Twitter @PayPal a top priority. Shop.org ‐ The State Of Retailing Online  p g g 2009: Merchandising Report  http://bit.ly/1Abr13   Twitter @shoporg 7/21/2012 ©2009 Red Door Interactive 7
  5. 5. Shopping Cart OptimizationAppeal to discount shoppers  Keep coupon hunters in  the funnel ‐ Decrease visual  prominence of the  prominence of the promotional code field ‐ Display field dynamically  based on referring URL ‐ Offer a universal discount  and display code on all  pages ‐ Encourage email opt‐in  for immediate discount27% Shoppers who reported leaving a cart to find a coupon.PayPal Checkout Abandonment Study  |   http://bit.ly/LS50e   |  Twitter @PayPal 7/21/2012 ©2009 Red Door Interactive 8
  6. 6. Shopping Cart OptimizationAppeal to discount shoppers  Highlight savings from  clearance items and  instant web discounts  ‐ Carry‐through symbols  and messaging from  product pages ‐ Show original and marked  down price d i ‐ Show total amount saved ‐ Show total % savings7/21/2012 ©2009 Red Door Interactive 9
  7. 7. Shopping Cart OptimizationAvoid surprise charges  Reveal shipping charges  R l hi i h and tax on the shopping  cart page ‐ Offer a choice of shipping  Offer a choice of shipping methods  ‐ Auto‐select the least  expensive option ‐ Include a shipping and/or  tax calculator ‐ Simplify shipping formulas46% Shoppers who reported leaving a cart because of high shipping charges.PayPal Checkout Abandonment Study  |   http://bit.ly/LS50e   |  Twitter @PayPal 7/21/2012 ©2009 Red Door Interactive 10
  8. 8. Shopping Cart OptimizationAvoid surprise charges  Reveal shipping charges  R l hi i h before the cart ‐ Provide a perpetual  shopping cart pp g ‐ Display shipping charges  on product detail pages7/21/2012 ©2009 Red Door Interactive 11
  9. 9. Shopping Cart OptimizationOffer alternate payment methods  Extend credit at the  point of purchase  Enable consumers  without credit cards to  purchase from your site31% Estimated online dollar volume from alternate payments methods in 2012.Javelin Strategy and Research  |  http://bit.ly/o76su  | Twitter  @JavelinStrategy 7/21/2012 ©2009 Red Door Interactive 12
  10. 10. Shopping Cart OptimizationBuild confidence and trust  Show “trustmarks” with  increasing prominence  through cart and checkout  process ‐ Call number and live chat ‐ Security badges ‐ Guarantees and policies Guarantees and policies ‐ Awards and endorsements ‐ Customer testimonials ‐ Company culture and value C lt d l  Answer common  questions21% Shoppers who reported leaving a cart because of security concerns.PayPal Checkout Abandonment Study  |   http://bit.ly/LS50e   | Twitter  @PayPal 7/21/2012 ©2009 Red Door Interactive 13
  11. 11. Shopping Cart OptimizationShow clear path to completion  Encourage shoppers to  take action ‐ Tell shoppers what to do  with inductive messaging with inductive messaging ‐ Show how many steps are  in the checkout process ‐ Differentiate primary and  secondary actions ‐ Remove actions with  potential to cause  irrecoverable errors7/21/2012 ©2009 Red Door Interactive 14
  12. 12. Shopping Cart OptimizationData-driven strategy  Benchmark and monitor KPIs ‐ Cart and order sessions 42% Online retailers  Online retailers ‐ Average order value (AOV) who know their  ‐ Visitor engagement shopping cart   Isolate problem areas abandonment  ‐ Shopping cart page exit links rates exactly. l MarketingSherpa  ‐ Form field abandonment  2009 Ecommerce Benchmark Report http://bit.ly/E4I7L  Twitter @MarketingSherpa ‐ Checkout funnel retention  Expand focus ‐ Attitudinal and competitive data analysis ‐ / g A/B and multivariate testing7/21/2012 ©2009 Red Door Interactive 15
  13. 13. Shopping Cart Optimization Questions Q ti7/21/2012 ©2009 Red Door Interactive 16
  14. 14. Shopping Cart Optimization Don’t Miss Our Next Webinar!  Brand Monitoring in Social Media ‐ Presented by Tony Felice,  Developer & Strategist  Tuesday, September 22  http://reddoorbuzz.com/20twenty/ Connect with us:  Blog ‐ http://reddoorbuzz.com/  Twitter – http://www.twitter.com/reddoor  Newsletter ‐ http://www.reddoor.biz/contact/emailsignup/7/21/2012 ©2009 Red Door Interactive 17

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