Cart Abandonment and ways to reduce it

1. How To Reduce Cart Abandonment Cart abandonment is the bane of the eCommerce sector. Begrudgingly, 70% of online shoppers abandon their shopping carts before committing to a purchase. Be it decision-making paralysis or outright hesitation, failing to convert prospective shoppers can prove fatal for online businesses with narrow niches. Why do customers abruptly change their minds? There is a myriad of possible reasons. Firstly, runaway inflation has reduced the purchasing power of Australian significantly. Consequently, households don’t have the same amount of disposable income to spare. Or perhaps customers aren’t quite convinced of the merits of your brand, product and service vis-a-vis its competitors. Regardless, the complexity of the ‘cart abandoning’ phenomenon warrants an end-to-end audit of your brand’s digital sales strategy. Thankfully, there are numerous ways that businesses can employ to discourage or convert ‘cart abandoners’. As a Brisbane digital agency , we fully grasp the nuances of online selling. Today, we’re sharing some tricks of the eCommerce trade. 1. Make it Personal

2. The most efficient way to reduce cart abandonment is to prevent it from occurring in the first place! Easier said than done? Not necessarily! First of all, you need to know your target customer’s persona. What are their tastes and preferences? What inspires them? What problems are they looking to solve or overcome? Having a nuanced grasp of who you’re selling to allows you to craft emotion-inducing and persuasive brand messaging. Be it through aspirational content or stunning product photography, do not be afraid to flaunt your brand’s values. Customers are looking for human connections. Build your brand’s messaging to nurture that relationship. Personalised messaging helps your brand to foster a business-customer relationship founded on trust. For more high-quality information on how to personalise the online buyer’s journey, visit our previous in-depth article . 2. Make sure there are no UI issues Sometimes, the reason customers are bouncing might be due to a technical or design flaw. If it restricts customers from making the final transaction, customers would be incentivised to buy from somewhere else! Try traversing the website from start to finish, mimicking the entire sales journey. Note down any technical faults that might be exacerbating the shopping cart abandonment phenomenon. Common hurdles include payment errors due to card refusals, sluggish page speeds or an unfriendly UI. An eCommerce platform should pride itself on the quality of its website as much as its products and services. A poorly designed UI informally signals to customers that it doesn’t take them seriously. Iron out these issues beforehand, and you’ll start to notice a decline in cart abandoners. 3. Integrate Buy Now Pay Later (BNPL) Options As discussed earlier, daily living is becoming an expensive endeavour. Not everyone has the luxury of leisurely shopping online. Enter BNPL applications. BNPL offers consumers lines of credit. The application (Afterpay, Zip, Klarna etc.) first pays for the item on behalf of the customer. Customers then reimburse the company in instalments. Customers who find themselves tight on cash can leverage BNPL to ‘buy first and pay later’. In fact, there are over 60% of Australian consumers have used a BNPL service . Therefore, offering consumers more ways to pay instead of your standard Mastercard and Visa options increases the likelihood of a transaction.

3. However, like all payment service providers, integrating a BNPL service incurs a merchant fee. Thus, we highly recommend weighing out the pros and cons of this strategy. 4. If all else fails, persuade them If the cart abandonment figures refuse to budge, then we’ll have to ramp up the persuasion! For example, the eCommerce platform, Shopify, automatically sends out ‘abandoned cart emails’ to customers who filled out their personal details but never quite made the purchase cut. A successful abandoned cart email can seriously turn the tides in your favour, with Klaviyo claiming that you can convert 3-14% of cart abandoners into real sales. This presents an opportunity to win the abandoners over! But what should you say or do to change their minds? Generally, abandoned cart emails inform the customer that they’ve left one or two items/services in their cart, encouraging them to complete the transaction. What ‘encouraging’ entails depends on the nature of your business, and the marketing strategy you’re choosing to follow! The first point of interaction between you and the customer is the subject line of the automated email. What you say here makes or breaks the success of the email campaign. A common subject line that’s used in all industries is “you’ve left something behind in your cart”. Try to whip up something snazzy to boost your campaign’s clickthrough rates (CTR). Next, you can embed CTAs such as the benefits of the ongoing promotion in the email’s body copy. Appealing to their fear of missing out on a valuable promotion, customers may choose to make the leap and commit to a full purchase. Or you could highlight your company’s generous exchange policies if they aren’t satisfied. Standing confidently behind your product inspires trust and confidence in the brand; a convincing argument for customers still on the fence! Lastly, if you can afford it, nothing screams value more than a coupon code designed to win their trust. As a rule of thumb, subsequent abandoned cart emails tend to get less traction, with the rate of revenue per recipient declining over time. However, we still highly recommend sending no more than 2-3 emails to capture as much lost revenue as possible. eCommerce is here to stay There’s no denying that the pandemic has changed the way Australia shops and consumes online, with global eCommerce slated to grow by 10.4%. Ironing out those chinks in your eCommerce armour is vital for your brand’s longevity in the increasingly competitive arena of online selling. While these tips and tricks are a launchpad for ensuring your long-term success, we believe that there’s a lot more to be done. There’s always room for improvement, and we strongly believe our Brisbane web agency has what it takes to bolster your brand’s future growth.

4. Having worked with clients from all industries, our team is highly adaptable to different situations, diagnosing key issues, and designing bespoke marketing strategies to ensure client success. And eCommerce is no exception, having collaborated with reputable clients such as Belgotex Australia. Our capacity to deliver a full spectrum of branding services enables us to meet our clients’ exacting needs without a hitch, working alongside them to realise their business aspirations. If you’re ready to build back a better online business, look no further. You’ve come to the right place. Contact us, we’re a full-service digital agency in Brisbane and we’ll organise a quick catch-up. We’d like to know you and your brand better. Let’s talk. Don’t be a stranger.