How to Deal with Abandoned Carts to Maximize Your Profits
Do you know that abandoned carts are the main reason e-commerce businesses lose around $20 billion in profits yearly? In fact, 70% of potential customers interested in buying e-commerce products on your website tend to exit without actually placing their orders.
All this makes cart abandonment one of the most challenging issues for owners of online shops.
Luckily, there are many proven cart abandonment techniques that you can use. To make things even easier for you, we’ve filtered out some of the most effective strategies to recover cart abandonment and created a list of the top 10. Let’s dive into them below.
1. Enhance your Product Listings to Showcase Payment and Shipping Choices Clearly.
Cart abandonment in e-commerce often stems from unexpected shipping fees and added costs. In simple terms, lower shipping fees reduce the likelihood of shoppers leaving.
To address this, present shipping options for each product and ensure competitive pricing. You can even include a shipping calculator on your checkout or product page. Doing so can help shoppers easily figure out their shipping costs based on their zip code.
Remember, you can offer free shipping to first-time customers; with this perk, first-time buyers will easily finish their purchases. We also suggest incorporating widely accepted payment methods in your market.
2. Launch a Tailored Omnichannel Marketing Strategy
Many shoppers use different places to research products, not just one app or a straight path. To keep them from leaving, reach out on many channels. That's where omnichannel campaigns help. They give a personal touch through in-app messages, notifications, email, and social media.
Think of a shopper who leaves your app without buying the items in the cart. You can send reminder emails with catchy titles. Then, use mobile notifications with clear actions. Finish with SMS and discounts to make sure your message sticks.
3. Boost Conversions with In-App Ad Retargeting
Advertising on apps (or in-app ads) is a popular choice among online businesses. They let online stores show ads on apps in your niche, YouTube videos, and partner websites. Using retargeting ads is vital for your e-commerce apps to prevent cart abandonment. They keep your brand in customers' minds, reengage users, and reduce app attrition.
In-app ads offer an opportunity to recapture customers who left their purchase early. When using ad retargeting to recover abandoned carts, you can sort customers based on the following:
what they like,
how much they spent,
and if they're new or returning shoppers.
This allows you to send tailored content that effectively boosts conversions.
4. Integrate Live Chat to Curb Cart Abandonment
Using live chat is a key strategy to combat cart abandonment in e-commerce apps. With this tool at your disposal, you can easily address customer inquiries, concerns, and issues with personalized responses.
Don't forget about placement — ensure your app prominently showcases the live chat feature on product and checkout pages.
5. Use an Exit-Intent Popup to Reduce Bounce Rates
An exit popup serves as a savvy mobile cart abandonment tactic. It generates an on-screen alert when a user tries to leave or uninstall your app.
This message can be tailored to the user, the product they are interested in, and their stage in the buying process. It's a great way to re-engage potential customers.
6. Focus on A/B Testing and Data-Driven Analysis
In your e-commerce app, every element, from design and layout to CTAs and the checkout process, should undergo A/B testing. This process is the key to reducing abandoned carts in e-commerce.
By looking at the bigger picture, you can evaluate effectiveness and pinpoint areas for enhancement. For instance, if an email subject line consistently achieves higher open rates, make it the control version. Then, experiment with different variations until you discover one that outperforms the control.
Data-driven analytics also help you identify which customers are worth re-engaging. Customers with low lifetime value or a history of difficulties may be best left to competitors. Analyze your customer data to pinpoint valuable prospects and ensure your conversion funnel has no leaks.
7. Craft a Policy for Returns and Refunds
Establishing a robust refund policy and return guarantee shields you from a negative reputation. It prevents potential cart abandonment due to poor feedback. These policies can build trust and foster brand loyalty among shoppers.
8. Leverage Feedback to Tackle Pain Points
Gather feedback from customers and provide workable solutions to their problems. One method of collecting user opinions is through a multichannel strategy
After shoppers abandon their carts, send a survey to find out why buyers changed their minds. Find out what they think of the checkout experience in your app and where it needs work.
9. Strengthen Credibility with Social Proofs
Customer reviews and ratings serve as genuine signs of approval. Many shoppers rely on these testimonials before deciding to purchase. To reengage abandoned shopping carts, showcasing trustworthy reviews and ratings in ads, emails, in-app messages, and push notifications is a good idea.
10. Ensure a Smooth, Mobile-Friendly App Experience
Your e-commerce mobile app must be user-friendly. Shoppers should easily move between the cart and product pages in one click. This simplifies adding items and reviewing product details before checkout.
Conclusion
Cart abandonment happens to every e-commerce brand. It may not always be preventable, yet you can control it by following the suggested strategies. As you've seen, reducing cart abandonment involves more than just improving your products and adding value to your customers.
If you can fix all the issues in your checkout process, your cart abandonment rates will stabilize, allowing you to focus on what you do best: running and growing your e-commerce brand.
