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Shopping Cart Optimization for eCommerce Web Sites
1.
August 25, 2009 SHOPPING
CART OPTIMIZATION Guest Speaker f k from Red Door Interactive d Charles Wiedenhoft, Director of Business Planning & Optimization
2.
Shopping Cart Optimization
Introduction Abandonment trends Reducing abandonment Reducing abandonment Data‐driven strategy Q&A 7/21/2012 ©2009 Red Door Interactive 5
3.
Shopping Cart Optimization
Abandonment trends 70 Shopping Cart Abandonment % -3.1% 68 Projected retail Projected retail 66 e‐commerce sales 64 decline in 2009. eMarketer: Retail E‐Commerce Continues 62 Slow Slide Slow Slide http://bit.ly/AXISR 60 Twitter: @eMarketer 58 56 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 6 7/21/2012 ©2009 Red Door Interactive
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 Couldn't find preferred pay option p p y p 79% Item was unavailable at checkout Couldn't find customer support Concerned 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.
Shopping Cart Optimization Appeal
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 discount 27% 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.
Shopping Cart Optimization Appeal
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 % savings 7/21/2012 ©2009 Red Door Interactive 9
7.
Shopping Cart Optimization Avoid
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 formulas 46% 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.
Shopping Cart Optimization Avoid
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 pages 7/21/2012 ©2009 Red Door Interactive 11
9.
Shopping Cart Optimization Offer
alternate payment methods Extend credit at the point of purchase Enable consumers without credit cards to purchase from your site 31% 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.
Shopping Cart Optimization Build
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 questions 21% 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.
Shopping Cart Optimization Show
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 errors 7/21/2012 ©2009 Red Door Interactive 14
12.
Shopping Cart Optimization Data-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 testing 7/21/2012 ©2009 Red Door Interactive 15
13.
Shopping Cart Optimization
Questions Q ti 7/21/2012 ©2009 Red Door Interactive 16
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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