As an online retailer, there is nothing quite as frustrating as the thought of a would-be shopper canceling his or her sale at the last moment due to the so-called “abandoned shopping cart syndrome.” This happens much more often than we would like to think – in an estimated 65 to 70% of all potential transactions! Whilst we all understand that virtual commerce is a completely different ballgame and that we often have no direct control over the actions of a potential client, there are nevertheless a number of lessons to be learned and a number of initiatives to be addressed if we want to try and rid ourselves of this on line skittishness!
One of the first things to do is to make sure that you have your tracking and testing procedures in place. You need to know what kind of a problem you have and you should analyze your reports to see how many people visit your checkout pages but do not consummate the transaction. Once you are aware of the scale of the problem, you should take steps to mitigate, as much as possible.
We can anticipate the reasons behind last-minute abandonment:
Design issues. Make sure that your customer experience is first class, all the way from the home page to the thank-you page. Put as much effort as you possibly can into making your site user and visitor friendly and make sure that each of the projected steps taken by a client is clearly projected. If you have a small operation make sure that you bring in an additional set of expert eyes to look over your site and give advice. Sometimes you can’t “see the wood for the trees”.
Eliminate sticker shock. Always make sure that the client is aware of the total projected cost, including shipping and taxes. Very often there is a significant change in the final tally due to these add-on items and a potential sale can be abandoned. Studies have shown (including a report commissioned by PayPal and conducted by comScore in May 2009) that high shipping cost was the top reason for cart abandonment. Show those shipping costs up front.
Security. It goes without saying that you must provide a secure environment for any online financial transactions. This is not only expected but makes good business sense. Make sure that you bring your security efforts to your visitors attention by referencing your secured checkout page (https), data encryption and external verification services.
Social proof. Incorporate testimonials, user reviews and product ratings. People like to think that they are doing the right thing and they like to see that their peers have enjoyed a good experience and are happy with their purchase.
Payment options. Try and offer as many payment solutions as you can, bearing in mind that a significant proportion of the population, especially those of a younger age, may not have access to a credit card.
With an astounding 98.7% of website visitors not returning – even if they have made a purchase before – you need to do everything within your control to ensure that they have an enjoyable and fulfilling visit, all the way through to the thank you page, hopefully to return again.
Have you ever quit at the last moment? What causes you to abandon an online purchase – let us know.
Matthew Toren
