Did you know that 66 percent of online consumers abandon their cart because of problems with the payment process and 23 percent of shoppers will abandon their shopping cart if they are forced to register for an account? Altogether, $4 trillion in products were abandoned in online shopping in 2014. These are all pretty scary statistics to see so, how does a business prevent their site from making all of the mistakes that lead to cart abandonment and leaving thousands of potential profits sitting in a virtual cart.
A website built with a clean and easy to navigate foundation is the first thing that users see. They aren’t thinking about all of the custom work that goes into making sure things run smoothly. Just beneath that is all of the code that has been written to make your site function, the better the code, the better the functionality. If there is a problem that continually happens, such as leading to an incorrect page or simply a failure to load your shopping cart page then customers will give up.
More and more eCommerce sites are realizing that a majority of their purchases are done by guests to the site (those who don’t have a login). The reason for a required sign up to purchase is really just to obtain the consumers’ emails and send them newsletters every day because they know that most people will not take the time to unsubscribe. However, so many sites are giving the option to go through with their purchase as a guest. This can have more of a benefit in the long run.
By opting for a guest checkout, customers aren’t going to have to take the time to set up an account, especially if they believe it to be a one-time purchase. Luckily, when a consumer is very pleased with their overall online experience and their product they tend to return. After a few purchases as a guest, they come to realize that your emails can include discounts and it’s just easier when you can save your credit/debit card and shipping information.
Member Login Benefits
Most companies create exclusive members deals and activities to entice those in the circle to keep buying, whether it is early access to new products or a $5 coupon after logging so many purchases or community activity time. If a member leaves items in their shopping cart, a reminder email gets sent to them saying something along the lines of “Don’t abandon me!” If this is a product that interests a lot of people enough to put it in their cart but end up abandoning then the company can see that and discount the price to reel buyers back in. the number one reason for abandoning one item is deciding the price is too high.
- 89% of consumers started doing business with a competitor following a bad customer experience. So, retaining customers (and bringing in new) requires not only the product you promise but a website that meets or surpasses consumer expectations.
- You don’t have to spend a ton of money to make a great basic but beautifully aesthetic and functional website.
- It costs about six times more to bring in a new customer than to retain an existing one. By simply providing an excellent customer experience on your website and support you can spend less in advertising costs and more in improving other parts of your business.
Hiring the Best Team
It all comes back around to your coding team, you need to make sure that whoever is in charge of creating your site can build your checkout and shopping cart correctly. Ideally, you want it to be as bug-less as possible.