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Capturing the Sale - Optimising the Checkout/Shopping Cart Process “ Recent research figures from the US estimate shopping...
5 Capturing the Sale - Optimising the Checkout/Shopping Cart Process The top things you need to  know… <ul><li>Why it’s im...
1 <ul><li>shopping cart abandonment is responsible for the loss of up to  half  your possible sales  </li></ul>
 
2 <ul><li>Customers abandon carts because of what's inside & what’s  not  outside your checkout process </li></ul>
Ref : Study by  PayPal  and  comScore  , 2009, see http://www.emarketer.com/Article.aspx?R=1007156 2
<ul><li>The failure to make a clear distinction between the purchase proposition and the purchase ‘transaction’…(is) the m...
2 <ul><li>Customers experience a browse   interrupted by transactional requirements and incomplete info </li></ul><ul><li>...
2 Goal approach to online retail & checkout <ul><li>Complete purchase proposition provided upfront in site browse prior to...
2 Examples: Add Payment options Test & optimise Cart design Control for & minimise distractions – enclose checkout Add Tel...
2 Examples : Add Delivery options to home and/or product page Add in-stock data to product page Minimise transactional ele...
3 <ul><li>US & UK Online retailer trends in the area of abandonment are towards addressing transparency of information, an...
3
<ul><li>UK Best Practice suggestions </li></ul><ul><li>Be honest and transparent , keep it simple. </li></ul><ul><li>Fewer...
UK TREND SLIDE 3 Copyright © E-consultancy 2007, www.e-consultancy.com
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4 <ul><li>You  can take action & start optimising your cart & checkout by ; </li></ul><ul><li>-site path analysis  </li></...
4 17 Conduct detailed path analysis
4 <ul><li>Ask ; </li></ul><ul><li>Why did you leave </li></ul><ul><li>What could incentivise a purchase? </li></ul><ul><li...
<ul><li>Compare/Contrast insights from your analysis with benchmarked & research cart changes (ref pg 10-11) </li></ul><ul...
5 <ul><li>If all else fails remember there  is  life AC (after cart) </li></ul>
Abandoned  cart emails,  pop-up’s &  auto chat <ul><li>Aug 2009 Study on Top 500* </li></ul><ul><li>80% have ability to fo...
Questions? <ul><li>I’m always interested to discuss any questions you have on this presentation or other online challenges...
Additional & useful references <ul><li>Emarketer.com &  search  under   MarketingSherpa.com  shopping cart /  abandonment ...
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Online Retailer Conference Sydney - Dan Ferguson - Presentation : Top 5 Things you need to know about Shopping Cart Abandonment

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Online Retailer Conference Sydney - Dan Ferguson - Presentation : Top 5 Things you need to know about Shopping Cart Abandonment

  1. 1. Capturing the Sale - Optimising the Checkout/Shopping Cart Process “ Recent research figures from the US estimate shopping cart abandonment rates at around 60%, and the figure is rising. Increasing that conversion rate can lead to a significant jump in sales and profits, and this session explores why shoppers abandon carts online, what the trends are and how to optimise the checkout process to capture more sales” Dan Ferguson ( [email_address] ) 19 th August 2009
  2. 2. 5 Capturing the Sale - Optimising the Checkout/Shopping Cart Process The top things you need to know… <ul><li>Why it’s important </li></ul><ul><li>Why it happens </li></ul><ul><li>What are the trends? </li></ul><ul><li>How you can take action </li></ul><ul><li>Life after Cart </li></ul>
  3. 3. 1 <ul><li>shopping cart abandonment is responsible for the loss of up to half your possible sales </li></ul>
  4. 5. 2 <ul><li>Customers abandon carts because of what's inside & what’s not outside your checkout process </li></ul>
  5. 6. Ref : Study by PayPal and comScore , 2009, see http://www.emarketer.com/Article.aspx?R=1007156 2
  6. 7. <ul><li>The failure to make a clear distinction between the purchase proposition and the purchase ‘transaction’…(is) the most important single factor driving checkout abandonment* </li></ul>2 Online Retail 2007 : Checkout, Dr Mike Baxter, www.econsultancy.com
  7. 8. 2 <ul><li>Customers experience a browse interrupted by transactional requirements and incomplete info </li></ul><ul><li>Customers that haven’t been fully ‘sold’ using a complicated checkout </li></ul>Traditional approach to online retail & checkout
  8. 9. 2 Goal approach to online retail & checkout <ul><li>Complete purchase proposition provided upfront in site browse prior to checkout. </li></ul><ul><li>Customers hit checkout decided. Transaction part of process now focused on speed, simplicity </li></ul>
  9. 10. 2 Examples: Add Payment options Test & optimise Cart design Control for & minimise distractions – enclose checkout Add Telephone / Live Chat. Add Delivery options (also upfront) Streamline checkout (business) requirements Illustrate progress throughout Merge checkout & registration, consider allowing casuals Add security logos Clarify all charges / costs as early as possible Transaction part of process : Focus on speed, simplicity and flexibility
  10. 11. 2 Examples : Add Delivery options to home and/or product page Add in-stock data to product page Minimise transactional elements prior to checkout ie. add persistent, perpetual or mini-cart and avoid or minimise auto-cart open on product add. Sell the complete offer – Payment , Security, Registration etc. Purchase proposition part of process : Focus on presenting the customer with a full and comprehensive purchase proposition prior to checkout
  11. 12. 3 <ul><li>US & UK Online retailer trends in the area of abandonment are towards addressing transparency of information, and optimising cart design </li></ul>
  12. 13. 3
  13. 14. <ul><li>UK Best Practice suggestions </li></ul><ul><li>Be honest and transparent , keep it simple. </li></ul><ul><li>Fewer words, images communicate better, uncluttered Layout </li></ul><ul><li>Reinforce messages only where needed </li></ul><ul><li>Avoid reasons to leave (i.e. nav bar) </li></ul><ul><li>Illustrate progress at all points </li></ul><ul><li>Ensure good MVT capability </li></ul><ul><li>Utilise data you already have and avoid unnecessary re keying </li></ul><ul><li>Test it with as many people as you can prior to launch </li></ul>3
  14. 15. UK TREND SLIDE 3 Copyright © E-consultancy 2007, www.e-consultancy.com
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  19. 20. 4 <ul><li>You can take action & start optimising your cart & checkout by ; </li></ul><ul><li>-site path analysis </li></ul><ul><li>-abandoned cart surveys &listening to your customer feedback </li></ul><ul><li>- test, test, and retest! </li></ul>
  20. 21. 4 17 Conduct detailed path analysis
  21. 22. 4 <ul><li>Ask ; </li></ul><ul><li>Why did you leave </li></ul><ul><li>What could incentivise a purchase? </li></ul><ul><li>What's your biggest concern about online shopping? </li></ul><ul><li>How frequently do you purchase online </li></ul><ul><li>How frequently do you comparison shop online? </li></ul>? Abandoned Cart Surveys
  22. 23. <ul><li>Compare/Contrast insights from your analysis with benchmarked & research cart changes (ref pg 10-11) </li></ul><ul><li>Ensure any changes you make are measureable, SEO & MVT friendly </li></ul>4
  23. 24. 5 <ul><li>If all else fails remember there is life AC (after cart) </li></ul>
  24. 25. Abandoned cart emails, pop-up’s & auto chat <ul><li>Aug 2009 Study on Top 500* </li></ul><ul><li>80% have ability to follow up on AC </li></ul><ul><li>Only 11% do </li></ul><ul><li>Of those that do most don’t send them soon enough or with sufficient relevancy or potency </li></ul>* Study by Listrak @ www.listrak.com, Aug, 13 th 2009 5
  25. 26. Questions? <ul><li>I’m always interested to discuss any questions you have on this presentation or other online challenges. </li></ul><ul><li>If I can’t help you I can refer you to an “battle” tested, large scale etailer that can. </li></ul><ul><li>Email me : [email_address] </li></ul><ul><li>Network with me @ http://www.linkedin.com/in/danferguson1 </li></ul>
  26. 27. Additional & useful references <ul><li>Emarketer.com & search under MarketingSherpa.com shopping cart / abandonment </li></ul><ul><li>http://www.grokdotcom.com/2008/02/26/amazon-shopping-cart </li></ul><ul><li>http://www.surl.org/usabilitynews/92/shoppingcart.asp </li></ul><ul><li>Thanks to First Rate, David Worby & Imagineering </li></ul>

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