How to Improve Shopping Cart Checkout Conversion Rate
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Did you finally compel a lot of viewers to browse through your amazing collection? That’s great! However, you could still fail in generating sales for your business due to the dreaded cart abandonment issues. The global cart abandonment rate stands at a staggering 69.23 percent! Naturally, getting people to spend money on your services is tougher even if you attract quality leads. In this post, we discuss several ways to improve shopping cart checkout conversion rate that’ll boost your revenue significantly.
Why Do Customers Abandon Shopping Carts?
Reports reveals the top reasons why shoppers abandon their carts at the last moment. Here’s a succinct summary: –
- 28 percent of shoppers discovered unexpected shipping costs added at the last step.
- 23 percent of buyers left because they had to create an account to complete the process.
- 13 percent of shoppers had concerns about the security of the payment options.
- 12 percent of leads found the checkout process too complicated.
Simple policy changes and enhanced user experience (UX) design can help businesses fix these issues. Let’s look at the ways online companies can rectify these issues and encourage purchases.
6 Ways to Improve Shopping Cart Checkout Conversion Rate
1. Use Analytics to Track and Improve Conversion
To find the specific reasons why your leads abandon your sites, you can use various tools like Google Analytics or Mixpanel. Initially, you need to create a path of steps that constitute your conversion process called the conversion funnel. Through the analytics tool of your choice, you’ll be able to create and map a good funnel like product page > personal details page > delivery options > payment options > transaction complete. By building this funnel, you’ll have a closer look at the step where your leads are quitting. We highly recommend using the Google Analytics e-commerce conversion alerts to track and utilize them for your benefit.
2. Experiment with a Single-Page Checkout Process
While it’s still debatable, we’ve found that single-page checkout processes work well in some cases. A furniture seller experienced 38 percent higher conversions through multi-page checkouts. However, a sports store achieved 21.8 percent more conversions than their counterparts due to a single-page checkout. Though its effectiveness is uncertain, here’s why single-page checkouts can benefit you: –
- They give an impression of a shorter process and encourage them to complete the purchase.
- They’re simple to use and understand for the less tech-savvy customers.
- They need fewer clicks to accomplish the buying process. Psychologically speaking, it’s a good practice to reduce friction in the buying process.
- Due to the fewer clicks, you leave less chance for the customer to rethink or compare with your counterparts in the adjacent tab.
If you’re targeting the impulsive shopper, single-page checkouts can tremendously benefit you. Here’s how you do it right: –
- Don’t clutter your fields too much. Try to spread the input fields and create a pleasing design.
- Use autofill options to reduce friction even more.
- Auto-detect credit card type through the first four-digit input.
3. Display Trust Badges to Improve Shopping Cart Checkout Conversion Rate
A study states that 17 percent of shoppers leave their carts because they’re not confident in the site’s security measures. You can alleviate these issues by developing a well-designed and professional store. Another great way to address these concerns is through showing trust badges that certify that your site is secure. Moreover, you could also add these badges to the checkout pages to assure your user that their money and information in safe hands. Options like McAfee or Norton logos, PayPal logos, and others make it easier for customers to trust you with their information. Subsequently, you improve shopping cart checkout conversion rate significantly.
4. Optimise your site speed
57 percent of buyers switched to the competitors’ site because they experienced a slower website before. Avoid losing leads to your competitors due to speed issues by optimizing your site and making it simpler. You could hire user experience experts, backend developers, and SEO experts to elevate your site’s performance for you. When page load speed increases from 1 second to 5 seconds, bounce rates rise by 90 percent! To convert more leads, ensure each page in your site loads fast and invokes an action from your lead.
5. Skip the Mandatory Sign-up
Modern customers still hesitate while sharing private data with your site. They may love your products and wish to buy them without cultivating a long-term relationship. 30 percent of users leave their carts because they were asked to sign-up before. However, many brands still push customers to sign up for their sites to complete their buying process. Many leads on the fence about their purchase will skip their purchase to ensure they don’t receive promotional offers from you in the future. One retailer benefited by a $300 million by simply removing the mandatory login option! We understand that you’d still like to stay in touch with your buyers. You could do that by sending them a random password and giving the option of quickly signing up after they purchase.
6. Use Free Shipping and Free Returns to Assure Customers
Most of your leads are nervous about losing their money to online frauds or low-quality products. However, you can still encourage them to purchase by easing your return process. Most online shoppers go through your return policy to understand if they can risk buying from you. By offering free shipping and free returns, you relieve them of their apprehensions and improve your conversion rates significantly. 60 percent of online eCommerce retailers believe that the ‘Free shipping’ option is their biggest marketing tactic. Ensure you strategically place the ‘free shipping’ keyword near the cart to increase conversion rate.
Converting leads may seem like a time-consuming and arduous process. However, we know that with these tips you’ll boost your conversion rates significantly and sustainably. The key to higher conversions lies in understanding the consumer and their concerns. Once you correctly identify the issues, you can work in a way that serves them and doesn’t jeopardize your priorities.
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