How to Reduce Abandoned Cart and Recover Sales
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8 Ways to Reduce Abandoned Cart Rates and Recover e-Commerce Sales
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Hello. Today, let’s talk about how to reduce abandoned cart rates and recover some of those sales, because online shopping in Australia has been booming.
It has seen unprecedented growth in 2020. About 72% of households now shop online in Australia, including older demographics.
Competition is high, but opportunities are there for the taking.
One of the problems that all eCommerce stores have is abandoned carts.
For you to have an idea, about 70% of shoppers abandoned their cart for a reason or another, and that hurts. 70% is a very high statistic, right?
How can you reduce those abandoned carts and how can you recover the sales of people who abandoned their cart?
Because we can't avoid all of it, but we can recover some of it. So, I'm going to give you some tips today.
1- Make sure that your eCommerce store is safe.
Make sure your website is safe and shows security badges, because we are filling in our details, our contact details, credit card details, and everyone wants to feel like it's going to be safe to do that on your website.
So perhaps display security badges showing that your website is safe to do so.
2- Make sure that your website is fast and responsive.
No one has time to be waiting and people are very impatient nowadays, so that your website needs to be fast and load fast, because otherwise people just give up and leave their products on cart.
3- Offer guest checkout options.
I know that ideally, you want people to open an account and come back and go to your database and so on, but not everyone is keen to do it, and you don't want to lose the sale because of it.
So if you can offer the option of people checking out as a guest, perfect, do it.
4- Offer a variety of payment options.
Make sure that people can pay using PayPal, different credit cards, and perhaps an option like Afterpay, which allows people to pay in installments, making it easier and more affordable to buy.
5- Be clear and upfront about your shipping costs.
If possible, reduce your shipping costs because statistics show that about 60% of people who abandon cart do so because of shipping costs. Yep, 60%!! That’s huuuuge!
Put yourself in your customers shoes! You can imagine that if someone is buying a product that costs around $70 and the shipping costs are $15, that's a very large amount. If you look at it, it's like about 20% of the cost of the product that you're buying.
So people leave that product behind because they don't want to pay 20% to cover shipping costs.
What you can do about it is to increase a little bit the price of your products, and then reduce the price of shipping, or offer free shipping.
Guaranteed, you're going to see more sales in your store because we, as consumers, we are happy to pay for the product, but not so happy to pay for the shipping.
6- Offer Refunds and Money-Back Guarantee
Another thing you can do is offer a money-back guarantee.
How many of us buy a product, and when we receive it, it's not exactly as we expected?
It doesn't fit, it doesn't look the same as we saw on the screen, and so on, and we regret our purchase. One of risks of buying online is that we won’t like the product we we receive it.
You want to remove that risk by offering a money-back guarantee.
Trust me on this, you're not going to be refunding a lot of people. But what you're going to do, you are going to see an increase in your sales and a reduction of people abandoning their carts.
7- Use Facebook remarketing to recover abandoned cart sales
Inevitably a percentage of people will abandon their cart. You can’t avoid it completely.
How can you recover those sales?
Remarket the abandoned products through Facebook advertising through retargeting campaigns.
Sure you’ve experienced this yourself, I most certainly have. We have been to a website, viewed the product, added it to cart, and left there.
And the minute we go away, we start seeing that product everywhere in the internet. It feels like it's following us, it’s a bit creepy, I know, but highly effective . Some of us will go back and complete that purchase, right?
So retargeting campaigns through Facebook Ads are very, very effective. Make sure you use them.
If you don’t know how to use Facebook ads for your business, feel free to download my 10 Steps to Profitable Facebook Ads, click here for instant access.
8- Set up an abandoned cart email sequence.
Last, but not least, make sure that you have an abandoned cart email sequence going out automatically.
Don't send only one email. Send two or three emails up to 48 hours after a person abandon their cart because emails will also reduce your abandoned cart rate.
They will bring people back to complete their purchase, and you want to do everything you can to bring that customer back.
Because it's not so easy or cheap to drive them to your website in the first place.
Let me know if you have any questions about how to reduce your abandoned cart rates and increase your sales, or simply how to increase your e-commerce sales altogether.
If you want, you can download my 10 Steps to Profitable Facebook Ads, click here for instant access.
Or you can also schedule a complimentary strategy session with me here