Cart Abandonment Vs Checkout Abandonment. Know their difference.
Whenever you heard about e-commerce abandonment, you have probably heard a million times that 78% of customers are not going to check out. The word ”Abandonment” is the sole reason why most e-commerce marketers couldn’t sleep at night. They constantly fail to understand why customers are not purchasing as well as what they can do to save the customers who actually add an item in their cart but does not make the purchase.
Before implementing any strategies, an e-commerce owner must have complete knowledge about buyers behavior at first. Where are they leaving? Is it shopping cart abandonment? Is it checkout abandonment?
The concept of cart abandonment and checkout abandonment are often used interchangeably, but both have their own meaning and approach to solutions. Let’s have a look at these terms to tailor your abandonment strategy.
What is Cart Abandonment?
Basically, when a customer visits your website, views some products, adds it in their cart and then suddenly leaves without even experiencing the checkout process, it is referred to as cart abandonment.
The reason behind cart abandonment is solely dependent on how you have created your website – from entire buyers journey to the website’s layout. This means clumsy navigational process, slow site speed, high page loading time, unresponsive, browser incompatibility and much more.
If your site navigation is not simple and complex then it automatically leads to the cart abandonment. From landing in your website to adding an item to checkout each steps should be clear and simple.
Additional charges at the end of the checkout are the main reason behind customers abandoning the purchase. Make the prices transparent to the customers from the very beginning.
What is Checkout Abandonment?
Checkout abandonment occurs at the final step of making the purchase. Your buyers are ready to buy from you but eventually finds something in the checkout that makes them bail out from completing the process.
There are many reasons for checkout abandonment but the most influential one is the cost. Unexpected costs at the checkout force the customer to leave immediately. For example, most of the e-commerce stores do not show the shipping charge and tax until the last checkout step, which directly hits the brake for the checkout process. Lack of transparency between you and your customers can lead to a huge abandonment rate.
Additional information requested
Requesting additional information right at the end annoys any customer. It’s very safe to assume that all of your customers are in a hurry and does not want to go through any kind of hassle. So, only ask for the details which are really important and cannot be skipped.
Lack of Trust
Most of the customers are very skeptical in general. You need to create a maximum level of trust with them to make sure they buy from you. Each of your activities such as design symbol, information requested, stability, secure checkout are all the factors of trust.
Checkouts are not supposed to be lengthy and complicated. As we mentioned above, customers are skeptical and have no time to fill all your questions. They will not hesitate to leave your site if your process starts to get on their nerves.
Not all customers want to register on your website at the time of checkout. Making them compelled to register before buying anything from your website is a big no. Always include guest checkouts at your checkout process.
Lack of payment options
You include a limited number of payment options in your checkout and your customers do not have an account on those options. 100% reason to not buy from your website. If they don’t have an option to pay you how will they buy from you. Make the options as wide as possible.
Tips to Reduce Cart Abandonment
Implement exit-intent pop-ups
Exit-Intent technology allows you to convert an abandoning visitor into subscribers and customers. This means with the help of exit-intent technology, you can increase your eCommerce conversion rate. It is even possible to combine exit-intent technology with your popups or full-width welcome screens to grab more attention and convert your visitors into subscribers or customers.
One of the best thing that you can do with your exit-intent popup is that you can place the recommended product and place it. When a visitor tries to leave your website without converting, you will have another chance to impress that visitor. Exit-intent technology gives you a great opportunity to redirect these visitors to additional products or features product list. But the main thing that you have to keep in mind is to optimize your content and CTAs.
Use cart abandonment emails
Cart Abandonment email is the most delicate emails among other mass or bulk email campaigns. It is a more personal and sensitive email that holds the key ingredient for your customer retention.
Therefore once you send these type of email you are in no position to undo it, edit it or un-send it from your customer inbox whether you have made blunders in it. In simple words, cart abandonment email is the ones that make or breaks the deal.
The only way of sending effective and personalized emails is possible when you know the EXACT POINTS where the visitor left your site. The higher the number of tracking points on your site, the better your chances of recovering abandoned carts.
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