Cart abandonment is a major concern for online retailers, with over $18 billion in lost sales a year and 67% of site traffic abandoning the cart without converting. As important as cart abandonment is, there are other key types of site abandonment that marketers consistently ignore.
Here are four of the major types of online abandonment and some tips on how to improve revenue retention.
37% of traffic bounce from sites online
Site abandonment or bounce rate is an important element of pushing users down the sales funnel to a conversion. Site abandonment is affected by landing pages, product pages, site navigation, site speed and other key elements of your site.
If your site abandonment is high, you won’t even have a chance to address cart abandonment.
Decrease Site Abandonment
Here are some key questions you should examine on your site to improve site abandonment rates:
How fast does your website load?
47% of consumers expect a web page to load in 2 seconds or less. Personally, there’s nothing that makes me leave a site faster than slower load time. Ain’t nobody got time for slow site speed. Site speed is a major element online, both for retail and search. You should continually test your website speed and make concerted efforts to maintain as low of a site speed as possible. Remember site speed affects cart abandonment as well.
Test your website speed:
Does your website highlight security features?
Purchasing online adds a layer of unreliability not present for purchasing items at a brick and mortar store. Reassure your clients that your site is safe and that their payment information won’t be compromised. Your site should have security badges on your homepage, product pages and checkout page to reduce cart abandonment through all stages of the sales funnel.
Test your Website Safety:
Is your site easy to navigate, and user friendly?
Site navigation is a big element for site and cart abandonment. Site abandonment will consistently be higher on sites which are confusing and hard for users to use. Consider testing Landing Page Optimization, and Visitor Behavior Optimization to decrease site and cart abandonment. Understand how your users are behaving on your site and change/test features to make your site more usable.
Test LPO and VBO:
- Heatmap visitor behavior test
- Exit survey for user behavior test
- Landing page tests, Google webpage tests
- Test which parts of your pages visitors click on (30 day free trial)
- Measure mouse movement and page visits
- Conduct usability tests using people who aren’t customers
Where are customers finding your site (e.g Google, social)?
71% of the organic site traffic comes from Google. Understanding where your customers are coming from is key for you to optimize your site, advertising, copy, etc. If you know where visitors are coming from you can better address their questions and provide relevant information to decrease site and cart abandonment. Use Google Analytics to determine how people are coming to your site. Remember to consider social and mobile traffic and optimize your campaigns accordingly.
84% of traffic bounces from products online. In addition to site and cart abandonment considerations, customers will abandon a product page if they don’t have enough information.
Decrease Product Abandonment
What are your customers looking for?
Going back to Google Analytics, be sure you have an idea of what your shoppers are searching and converting on. Many online shoppers comparison shop for prices and similar attributes. 30% of consumers abandon cart because they are comparison shopping. Delve into your data to determine what avenues shoppers are coming from and what their intent is.
- Utilize Google Web Analytics (Bounce rate, Overall Traffic)
- Optimize Direct Response Advertising (Call tracking, coupon codes)
- Send customers an online survey
- Utilize live chat (14 day free trial)
- Consider A/B tests for site activity (not free)
- Use exit surveys from Google, or other paid customer engagement options, or pop-up surveys
Are you giving shoppers enough information?
Your site, product pages, and data feed should all display ample product information. 3% of carts which are abandoned happen due to confusing product information. Be sure to audit your product pages and data feed based on Analytics query data. Optimize your product images, include product videos, and as much product information as possible.
- 5 Tips for Improving Product Photos & Video on Your Ecommerce Site
- Audit your Data Feed
- Offer Google Site Search or Google Custom Search Engine for fast on site search results
Do you highlight product reviews?
Social proof is a significant element for product evaluation. Ensure you have product reviews available for all of your products, particularly your best sellers. Also ensure you have merchant reviews to reduce your site and cart abandonment rates.