Decrease Cart Abandonment and Increase Revenue

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This Webinar goes over some of the many tests you can run to decrease cart abandonment on your website.

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  • Nik:Introduce company and an overview of our core services and history of the company.
  • Nik:Introduce company and an overview of our core services and history of the company.
  • What is cart abandonment?Cart Abandonment is simply every time a shopper exits your shopping cart with items in it. Leaving money on the table and reducing ROI.
  • 70% of shoppers have abandoned their cart at least once. So why is this becoming such a big problem for eCommerce store owners. There are many factors to blame. Gas prices and the poor economy make online shipping more attractive, however they also drive cart abandonment. High shipping costs and the need to find the best deal result in many cart abandonment.
  • 57% of shoppers don’t want to pay high shipping costs48% of shoppers did not realize the full cost of purchase41% use the cart for research 15% find the shopping cart process to complicatedForrester Research
  • 1st Image – Average Number of Item abandoned during checkout2nd Image – Average amount lost during cart abandonment *Practical eCommerce.com
  • All these tips were developed from hours of testing. Not all tips will work for every store. These are in no particular order.
  • Be Clear about Shipping Costs ahead of time. Many shoppers don’t find out the shipping cost before they access the cart, when they see the shipping costs for the first time it may deter them.Flat rate shipping or free shipping will obviously help cart abandonment, but they do not work for every store. If shoppers know the shipping costs and when they will receive the item they are more likely to buyAny shipping message should be around the Add to Cart button where people will see it.
  • Tell the customer when they will receive their product right away. This will limit the costly step of customers abandoning the cart later in the process. This way are confident when entering your shopping cart that you will deliver in a timely manner for a reasonable price. This removes the uncertainty and anxiety they might feel when entering the shopping cart. To make this process easier, save their zip code information on each product page, so they only have to fill this information out once.* Special Note: this may not be feasible and work well for all types of online stores
  • Have the most competitive price, and be clear about it.This is harder for the smaller retailer.If you have the best price make sure it is advertised all over your websiteBe aware of your competition.Let your customers know this information before the shopping cart, preferably on the product page right below the add to cart button.Again, make your customers feel confident before entering the shopping cart. Removing the fear and doubt about the purchase will reduce the psychological anxiety customers feel when buying from you.
  • Assume your shoppers are not web savvy – make your cart easy to useMake sure your cart is user friendly; many people leave if they aren’t able to use your cart with ease.When it comes down to it, if your competitor offers everything you do and their process is easier than yours, they will win the business in the long run. Case in point, Amazon has spent millions to build and protect it’s 1-click shopping patent for that very reason.
  • Remove all errors from your cart Nothing will make someone leave faster than a recurring errorUse IE 6 to check for Java script errors in your cart
  • Be clear with errorsMake sure it is clear to the shopper what action is causing an error in their shopping cart. If it is a declined credit card let them know what they did wrong instead of making them guess.
  • Be serious about security Recent events, like the Sony data breach in early May, have made the general public nervous about handing over their personal and credit card information. Take security seriously by showing customers how their data is protected and that you will help protect them if any fraud does happen if they use your website. Be clear about your security policy and test several security badges and providers in noticeable positions on your shopping cart.customers are even more worried about security of their personal information online. State you have a secure storage system State that you transfer their information over a secure connection Be clear on the liability if fraud does happen
  • Offer supportHave a phone number clear in your cartLive Chat – make sure it is a true live chat and not a robot. You need a real person with a real answer
  • Make sure your cart loads quicklyDo what is possible for your cart to download quicklyUse technology to pre-loadRemove all items that slow down the processThe faster you can go in and out, more products people will addand buyOne clients saw a 5% increase in cart completion when preloading their shopping cart resources
  • Give the Shopper Motivation to Complete the saleShoppers must be motivated to fill out the form and complete the purchaseOffering them a free gift, coupon, or free shipping will help motivate them to stay Test different offers to different segments of your customers If they are adding products to your cart for the first time, offer them a new customer discount if they try to leave and price shopThe Cart Closer!
  • To recap: Answer these common questions for your customers to reduce care abandonment:How much is shipping?When will I get my product?Am I getting the best price? How long is checkout going to take?Is my credit card and personal information safe?Is there a person that will help me?Will this product make my life better?
  • Decrease Cart Abandonment and Increase Revenue

    1. 1. 10 Ways to Decrease Cart Abandonment<br />… and Increase Revenue!<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    2. 2. Presenters:<br />Dan Theirl<br />VP of Product Development<br />Scott Smigler<br />President and Founder<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    3. 3. Who Are We?<br />Founded in 1997, Exclusive Concepts continues to be the leading resource for online retailers seeking to convert online shoppers into loyal customers. <br />Our mission is to help you accelerate your revenue without the overhead. <br />Services include Scientific Conversion Testing, Advanced SEO, Profitable PPC, Lifecycle Email Marketing, and Site Speed Optimization. <br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    4. 4. What you’ll learn<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    5. 5. What is Cart Abandonment?<br />How much money are you leaving on the table? <br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    6. 6. What is causing cart abandonment?<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    7. 7. Cart abandonment…the facts<br /><ul><li>70% of shoppers have abandoned their carts at least once
    8. 8. 57% of shoppers don’t want to pay high shipping costs
    9. 9. 48% of shoppers did not realize the full cost of purchase until reaching the cart
    10. 10. 41% use the cart for research
    11. 11. 15% find the shopping cart process too complicated</li></ul>Forrester Research<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    12. 12. Cart abandonment…the facts<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    13. 13. 10 Ways to Decrease Cart Abandonment<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    14. 14. 1. Be clear about shipping costs <br />Be clear on subcategory pages<br />Be clear again on product pages<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    15. 15. 2. Tell the customer when they will get their product<br />Estimated Delivery Date with Costs on Product Page<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    16. 16. 3. If you have the most competitive price, let customers know right away<br />Make your price guarantee highly visible on your product page<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    17. 17. 4. Create a color path<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    18. 18. Remove all errors from your cart <br />Nothing will make someone leave faster than a recurring error<br />Use IE 6 to check for Java script errors in your cart<br />5. Remove all programming errors from your cart<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    19. 19. 6. Highlight user errors clearly<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    20. 20. 7. Show you’re serious about security<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    21. 21. 8. Offer support<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    22. 22. 9. Make Sure Your Cart Loads Quickly<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    23. 23. 10. Motivate the shopper<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    24. 24. To recap: Answer these Questions for your customers<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    25. 25. Cost: 5% of Saved Carts. You will:<br />Increase ConversFrom Conversions On Demand and Exclusive Concepts Brand<br />Lower Cart Abandonment<br />Control Coupon or Free Gift Offers<br />Pay For Results - No Setup or Monthly fees<br />Introducing…<br />Over $2,000,000 in revenue saved and counting!<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    26. 26. Why The Cart Closer?<br />You will:<br /><ul><li>Increase Conversions
    27. 27. Lower Cart Abandonment
    28. 28. Control Coupon, Free gift, or free shipping offers
    29. 29. Pay only for results – No Monthly Fee
    30. 30. Setup cost based upon platform</li></ul>1-888-540-7698<br />Exclusive Concepts © 2011<br />
    31. 31. What our customers are saying.<br />“The way I feel is that I already invest in SEO and PPC to attract traffic to my website. Why let all the work that led to getting people to your site go to waste when they just leave their cart? That’s why I love Cart Closer.”<br />“Cart Closer allows us to generate revenues that would have been lost and improve the effectiveness of our PPC efforts.” <br />“The Cart Closer gives us the opportunity to offer customers a deal and get additional revenue that we would have lost. We have seen a decrease of about 11% in out cart abandonment rate.”<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />
    32. 32. Thank You! Questions?<br />Scientific Conversion Testing: <br />Free audit for qualified retailers. To request an audit email JamesA@ExclusiveConcepts.com <br />The Cart Closer:<br />To request a free demo or to sign up to install The Cart Closer on your store visit – http://www.ConversionsOnDemand.com<br />1-888-540-7698<br />Exclusive Concepts © 2011<br />

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