There are a lot of reasons that customers might get all the way to the checkout stage and abandon their shopping carts. You could convince yourself it’s because they suddenly got busy or went to find their credit card and got distracted, but that’s unlikely to be the reason. Don’t worry, though. There are changes you can make to improve your sales and decrease the number of abandoned shopping carts floating around your virtual parking lot.
Your product is good.
Your marketing is great.
Your social media is killing it.
But, your sales aren’t where you want them.
Your customers are abandoning their shopping carts.
You got them ALL the way to the checkout page, and they bailed.
Why aren’t you making the sale?
According to the Baymard Institute, a research company in the United Kingdom, over 65% of shopping carts are abandoned. And, in an even more recent study, Salescycle estimated that upwards of 75% of shopping carts online are abandoned across all industries, some industries as high as 81%. WOOF.
Below are 5 common, avoidable reasons your customers are abandoning at checkout and how you can curb those losses.
1. They found a better price somewhere else
Price shopping is a hurdle all e-commerce companies face. With gigantic conglomerates like Amazon to compete with, it’s important to focus on keeping your pricing competitive with parallel companies.
Before you set your prices, check out what your competition is doing. If their prices are way lower, how are they doing that? Establish ways that you can remain competitive without taking a bath on profits.
2. Unexpectedly high shipping costs or other unexpected costs spooked your customer
We’ve all been there. You’re pumped when you get to checkout about this awesome product that you’re about to be the proud owner of, and find out the shipping doubles the price of the product. Jeez!
Solution? Be up front. If your customers are aware of a higher price point from the get-go, you’re not going to lose them down the line because of a price surprise. Rather, explain your value. Use your copy and your marketing to explain why your price is WORTH it.
3. Website navigation complicated and confusing
Have you ever attempted to checkout on a website and it forced you to jump through a ton of hoops? Whether it’s creating an account or navigating a poorly designed checkout process, it’s bothersome, to say the least. In an age where internet competition is at an all time high, it’s important that you remain competitive, and that includes having a website that’s easy to navigate, easy to use, and easy to guide a customer to a purchase. If it’s confusing, you’ll quickly lose them to your competition.
4. Poor delivery options
When someone gets to the checkout page and finds out that their product won’t be delivered until the end of next month, that’s a major turn off. Chances are, they’re able to find a similar product from a different vendor that serves the same purpose and will be delivered promptly, so they’re going to hop ship. It’s simple: provide realistic and speedy delivery options!
This also applies to service industries as well. If you provide a service, for example web development, and someone reaches out to you to start up a project and you reveal you won’t be able to serve them for 6-8 months, they’re going to move on to someone else. Figure out how to manage your customer base in a way that keeps them satisfied but also allows you to provide your highest quality work.
5. Technical & payment issues
If your website isn’t up to snuff and isn’t seamlessly processing payments in a timely way, you need to make some major changes. Technical issues can range from glitchy navigation to website timeouts that frustrate customers and send them running across the beach into the arms of your competitors.
In the wake of so many financial hacks and credit card fiascos, it’s important that your customers feel secure and not at-risk when checking out with you. Giving them options that feel familiar, secure, and are easy to use is key both for the customer and for you.