AbanÂdoned Cart
EveryÂtime a cusÂtomer adds prodÂucts to their online shopÂping cart but leaves withÂout comÂpletÂing the purÂchase, an abanÂdoned cart is born. This can hapÂpen for many reaÂsons: unexÂpectÂed disÂtracÂtions, high shipÂping costs, a comÂpliÂcatÂed or frusÂtratÂing checkÂout process, or cusÂtomers hesÂiÂtant to proÂvide perÂsonÂal inforÂmaÂtion such as perÂsonÂal address or credÂit card details.
It doesn’t even necÂesÂsarÂiÂly mean someÂthing went wrong. For examÂple, B2B comÂpaÂnies often have comÂplex buyÂing processÂes that involve mulÂtiÂple deciÂsion-makÂers. SomeÂtimes, a potenÂtial buyÂer adds prodÂucts to their cart but doesÂn’t comÂplete the purÂchase. To address this, comÂpaÂnies can impleÂment remarÂketÂing strateÂgies by sendÂing tarÂgetÂed emails or perÂsonÂalÂized folÂlow-ups to remind cusÂtomers about their abanÂdoned carts.
Apart from offerÂing incenÂtives for cusÂtomers to comÂplete their purÂchase, busiÂnessÂes should also streamÂline their checkÂout process to reduce abanÂdonÂment rates in the first place. This could involve makÂing sure all prices are clearÂly disÂplayed and ensurÂing cusÂtomers aren’t asked for unnecÂesÂsary inforÂmaÂtion at checkÂout. AnothÂer way to reduce cusÂtomer fricÂtion and thus, abanÂdonÂment rates, is automatÂing payÂment processes.