Wednesday, March 19, 2014

Cart Abandoment: Why It Happens? How To Recover Your Lost Opportunity?

Getting a lot of traffic for your website is awesome! It all happens due to your efforts to get good content, great products to sell on your website, Huge amount of back links, very good internal linking and site navigation and a lot of other things. When we get a lot of traffic through various sources on our website that means people are loving your website, your products and services. 
But we always want more as we are human beings and we are never satisfied with what we are getting. we can always do a little effort to get more sales and leads. Especially for an e commerce website, we always want to get more orders. There are a lot of instances where many e commerce websites do get a lot of cart abandonments. We can reduce the cart abandonment ratio to increase the sales from our website and get a lot more revenue generation for our website. An independent web research company claims thats 67.75% of the total shopping cart are abandoned. That means that 7 out of every 10th visitor is leaving the cart on an average. Few reasons why someone can abandon the cart are:
1. Price too high(above the expectation) 
2. Didn't liked the product 
3. Free shipping not available
4. It was the first visit of the customer. As almost more than 90% people will not like to buy the product in their first visit.
5. Another website offering the same product at a lower price
6. Process taking too much time
7. Security concern while doing payment
8. Price presented in some other currency
9. Website crashing
10. Too many steps before final checkout

Few things that we can do to reduce the cart abandonment ratio are:
1. Offer some discount to the customer
2. Offer some loyalty program to cart abandoner
3. Use re-targeting for those who have left the cart
4. Use call tracking to track orders over phone or through sales support. 
5. Email about the cart abandonment to the customer and remind him about the purchase they left with some offer specially for them

Cart abandonment is not just the end of opportunity for you, it is a great start for you to re-engage the customer back to your website for some more value added sales. Use your re-targeting tricks efficiently to get more out of your e commerce campaign.

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