In a perfect e-commerce world, a visitor would visit your website, fill up his cart and make the payment. Sadly, this isn’t always the reality. The average cart abandonment rose from 77.24% in 2016 to 78.65% in 2017. This means almost four in five online shoppers will leave your site without making a purchase. Cart abandonment is a multi-trillion dollar headache, costing brands to lose an estimated value of about $4.9 trillion globally in 2016. While you may think retargeting ads or emails are the best way to fight cart abandonment, smart brands know better. To get more consumers to check out, we gathered these four powerful tools to help you prevent cart abandonment and boost conversions.
When on the fence about whether to buy or not, prospective consumers will look for what other consumers say about your product. That’s why around 41% of shoppers won’t purchase from a site that doesn’t offer product reviews. Unlike other point solution competitors, Yotpo’s core UGC solution offers a completely integrated experience in one platform, giving brands ultimate control over how they collect, display and market with customer content.
For instance, Yotpo helps brands collect more site and product reviews, ratings, and Q&A with artificially intelligent requests using frictionless in-mail technology. Users can also import existing reviews to your website, and convert them into paid ads on Facebook and Instagram.
These features help build trust and lead to conversions, two crucial business elements that prompted swimwear brand Cupshe to seek Yotpo’s expertise.
Entering the US market, Cupshe needed to create relevant content for English-speaking consumers that would help them build trust and communicate with a new audience. After implementing Yotpo to support review postings, US traffic to Cupshe’s website jumped up by 83% and their US sales increased by 101% in just one year.
Stop Customers Before They Leave
Why let consumers abandon their carts when you can nudge them towards checkout, with the likes of OptiMonk? The software’s exit-intent technology detects user intent and makes visitors a special offer to encourage them to purchase the items in their cart at the exact moment they are about to leave your site – down to the millisecond. Boasting a one-minute setup and easy integration with popular e-commerce platforms, Optimonk gives you the chance to convert visitors to buyers. Here’s how they helped BootCuffsSocks.com:
With a bounce cart rate of over 60%, BootCuffsSocks.com had a problem getting people to buy. Using Optimonk’s exit-intent technology, BootCuffsSocks.com set a 10% off the entire purchase popup display to only engage US visitors who had left at least one item in their shopping cart and were about to leave the site. In three months, the brand generated 601 new transactions, increased their total revenue by more than 8% and decreased their cart abandonment rate by over 17%.
Clarify Cross-Border Shipping Costs
According to a recent survey by Paypal, about 30% of international consumers who frequently buy from the US, had abandoned a potential cross-border purchase because it wasn’t clear how much duty, tax or customs fees they needed to pay. Considering that cross-border shoppers spend twice as much as online consumers who shop domestically, you have to be upfront with your shipping costs. One option to keep international customers happy with accurate shipping rates and increase conversions is checking out Zonos (formerly known as iGlobal).
Integrated with UPS, FedEx, DHL and USPS, Zonos calculates duties, taxes and shipping costs in real time. Consumers know what they pay immediately in their local currency or yours. Also, Zonos translate checkouts into 18 different languages.
And Zonos’ customers are seeing positive results. One reviewer says Zonos increased their international business more than 8% within the first year by allowing customers to see the final cart amount with shipping duties and taxes in their currency. The brand also helped ShopUSA.com solve their duty and tax calculation problems.
Be Open 24/7/365
If you think having an online chat – weekdays from 8am–11pm ET and weekends 8am–9pm ET, is enough to prevent cart abandonment, what happens when a consumer in a different time zone can’t find a particular size of shoes and no one is online to help them? They’ll bounce. 53% of US online customers will abandon their purchase if they can’t find a quick answer to their question.
The Inbenta chatbot can prevent cart abandonment. This chatbot provides consumers with intelligent conversations in real time, increasing the number of transactions. Powered by artificial intelligence, NLP technology, and machine learning, the Inbenta chatbot understands and delivers results based on the meaning behind customers’ search queries instead of individual keywords.
Even if the customer’s message contains slang words or misspellings, Inbenta’s chatbot can amend the problem and help solve the customer’s needs.
The chatbot also uses webhooks (a messenger between your chatbot and a source of information) to perform transactions and can be integrated with various platforms including Facebook. Smart chatbots with intelligent responses are the future of customer service. Don’t bank on using just ‘any old’ bot.
Don’t Let Customers Walk Away
Like seasons changing and growing older, cart abandonment in e-commerce is inevitable. However, that’s not to say you have to live with heartbreaking bounce rates. With these four tools we show here: Yotpo for reviews, Optimonk to stop consumers in their tracks, Zonos to clear shipping costs and 24/7/365 availability with Inbenta, you’ve got what you need to prevent cart abandonment headaches.