Category: Cart Abandonment

Speed is the name of the game in the eCommerce industry. The less time it takes shoppers to complete the checkout process, the less likely they are to abandon their carts and the higher the conversion rates a site is likely to have.

The trouble is that it takes nearly two minutes — 118.5 seconds, in fact — to complete the average eCommerce purchase. That’s almost two minutes of filling out information fields like names, payment information, shipping addresses, billing addresses and more. Long, frustrating form fills like these can frustrate shoppers and drive them away.

Buy buttons present a compelling solution to this problem. PYMNTS’ latest research shows that buy buttons reduce the time consumers need to complete purchases by 39.2 percent, and possibly even more, depending on a wide host of factors. The time saved by deploying buy buttons can change dramatically based on the industry of the merchants who use them, their annual sales and whether they provide guest checkout options, to cite a few examples.

It can be difficult to keep track of all the factors that can change the impact buy buttons have on the sites that host them, so how are retailers to know that they are using theirs in the best manner that suits their unique circumstances?

In the 2020 Buy Button Report: Customizing Implementation To Boost Conversion, PYMNTS examines the checkout processes offered by 1,052 of the web’s leading retail sites to assess the state of their buy button offerings, and how those offerings have made an impact on overall checkout experiences.

Our research shows online shoppers stand to save a great deal of time from checking out via buy buttons, but not all merchants will see the same benefits from implementing them. Merchants that sell electronics can expect buy buttons to reduce their average checkout times by an entire minute (50.8 percent), for example, while buy buttons on quick-service restaurant (QSR) sites only decrease checkout times by an average of five seconds (3.9 percent).

Some of this is unavoidable. It takes longer for consumers to specify what they would like to order at a QSR than it takes to select what they would like to purchase on electronics sites. QSR shoppers need to specify which item they might like, if they would like any add-ons and whether they might otherwise want to adjust their orders to suit their tastes. In contrast, electronics shoppers typically only need to select the make and model of items they would like to purchase.

Industry is not the only factor that impacts buy buttons’ effectiveness, either. They also tend to change depending on whether or not the merchants that offer them provide guest checkout options. Buy buttons reduce checkout times on sites with mandatory user profiles by as little as a single second, but they reduce checkout times on sites with optional profiles and buy button-enabled guest checkouts by as much as 46 percent. This makes sense. There is no way to make checkouts shorter if shoppers need to fill out their information to make site profiles, anyway.

Yet these are only a few of the ways in which retailers’ site metrics — even seemingly unrelated ones — can have a major impact on the effectiveness of their buy buttons.

To learn more about how important it is for merchants to consider these factors when designing and implementing buy button strategies, download the report.

Source : https://www.pymnts.com/news/ecommerce/2020/implementing-buy-button-strategies-checkout/

Did you know?

At least 72% of customers feel satisfied to see the expected delivery dates when shopping online.

A well-polished and managed delivery process can boost your sales and reduce your cart abandonment.

80% of consumers expect same-day shipping.

61% of consumers prefer 1-3 hour delivery.

77% of consumers want weekend and after-hours shipping.

How can you do to optimize order delivery?

• On the product page, you can display the closet delivery option.

81% of shoppers want to see the delivery possibilities displayed on the same web page as the product they are willing to purchase. This will make it clear about the exact delivery of the product.

• Offer delivery date & time for selection

83% of consumers expect a guaranteed delivery date and most of them want a time slot of when to expect their delivery to arrive. This gives more control over delivery and enhances flexibility.

Suggest specifying delivery preferences in the comments field

Do you want to provide the best possible shopping experience with your online shop?

In order to enhance customer loyalty to your brand, give a prior call or a text message to ask them to leave a comment with their order delivery preferences.

Your website will have a beautifully designed estimated delivery date message for product pages. This extension will overcome the default Magento limitations.

The backend has advanced management possibilities:

Time intervals, order limits & extra charges

Mention available delivery time slots along with an option to set limits & extra charges for each time interval if needed. This functionality will make product delivery easy and it will also help you cover additional expenses.

Backend delivery queue calendar

An easy way of managing Delivery

A delivery queue calendar with relevant records in it gives you a complete overview of the delivery options of 30 days.

Delivery management of Holidays & days off

Managing delivery during holidays and days off can become a bit stressful and tedious process.

The Extension helps store managers to exclude desired days from delivery in just a few clicks.

And so much more…

Further, it has a Group-based delivery option display which lets you set daily/weekly/global quotes. It also includes a dedicated grid for delivery options management, delivery configuration per individual module, and much more functionality to benefit from!

Bottom Line

The default Magento 2 has a certain limitation when it comes to setting delivery options but then extensions prove to be highly beneficial to bring such functionality to your business. Always keep your store updated and add required extensions to create a better shopping experience for customers and increase sales.

For an e-commerce business, shopping cart abandonment is the most common and most inevitable scenario. A recent study states that 68.63% of carts are abandoned every year which means that only about 1 in every 4 customers actually finishes their purchase.

No wonder promotions, discounts, and special offers are for online stores to attract customers but there are visitors who have added items to their cart and later don’t even complete their purchase and that leave you with a huge number of lost sales.

So, how can you recover those customers?

One of the main reasons for shoppers abandoning their carts is the extra fees added at the end of the checkout process along with shipping charges. Another reason is communication say, you have processed for a number of items and now you are ready to pay and then you find out that cost has jumped up by 10% and that will disappoint any potential customer.

How to use Emails to Recover Abandoned Carts?

Abandoned carts will always be part of your store but there are ways to recover some of the lost revenue occurred due to it.

The following steps will help you recover Abandoned Carts:

Always find ways to improve your checkout process by limiting the number of steps customers take to complete the purchase. Try and make the checkout process as easy as you can so that customer can buy on your site.

Below are the ways to recover abandoned cart sales.

Automated Email Campaigns: Abandoned cart emails always receive a higher rate than any other marketing emails.

How to Run an Abandoned Cart Email Campaign:

Remind customers about their abandoned cart immediately in an hour by sending them the first mail. Add only a reminder in a mail and it should be open and friendly. Email is considered to be the most effective way for abandoned carts hence it’s worth putting efforts into the design and copywriting.

Friendly and Focused

Keep your mail friendly and easy to read. For example, Fab is doing a great job by reminding the shoppers of the product they left in the cart.

Mail should include a big image of the product along with an offer. Mention that stock is limited it will help in pushing the urgency factor for customers to buy that particular item at the earliest.

Make a point to mention complete contact details. The tone of the mail should be friendly and enticing for shoppers to finish their purchase as abandoned cart takes place when the customer got distracted or the website got crashed as this mail a boost your sales.

Humor

Humor is an excellent tool to use in abandoned cart well it depends on brand also. Humor should be played safe. Draft a mail keeping in mind about the audience.

Mail should contain a powerful message so that it comes difficult for anyone to move away from the email without completing the purchase.

A smart use of gentle humor can help you deliver a memorable and inviting email which you can send to your subscribers and it will also increase brand value.

Personalize

Personalize emails are considered to be the best way to increase interaction with subscribers. So use it in abandoned carts to increase sales.

Mail should be plain text and a personal message which would be in an open tone addressing to the recipient. Mail should be such a way that it creates a lasting impression on the reader.

Second Email

Second mail should be sent around 72 hours after they have abandoned their carts and they have not made any purchase after receiving the first reminder. Again the tone of the mail should be friendly and open but send them a mail with a special offer. The most common strategy is to provide free shipping if the cart meets the minimum requirement which was set by you.

You can send voucher code to attract them to their abandoned cart. You can send the third email if you haven’t received any response yet. Third mail should have urgency for customers to buy such as limited stock or a deadline on a special offer. The main goal is to give a friendly nudge to the shopper and hope that they click through to complete the purchase.

Bottom Line

We offer automated email solution to enable Magento merchants to recover their lost revenue. It is possible to draft a friendly and engaging mail campaign to bring your shoppers back to your site to complete their purchase.

Abandoned cart arises due to different reasons. They also compare one product at different websites to buy that particular product at a minimum rate.

Magento store can push ahead of the competition with the help of automated emails by offering discounts, free shipping or any other simply helpful advice.

Saying that email is the most effective method of recovering abandoned cart sales so go ahead, plan now. Send people a friendly reminder that they left something behind.