Retargeting Strategies for E-commerce: Reducing Cart Abandonment
The shopping cart is where passively browsing turns into a purchase. That being said, shoppers are prone to letting something sit in their shopping cart without following through and completing their purchase. Online retailers face this problem often, especially if they don’t have a brick and mortar store anywhere. The average rate of cart abandonment sits at a steep 70%. That is almost ¾ of online shoppers retreating from your storefront.
The team at Lyv Marketing is here to help you understand why your shoppers are abandoning their carts. Common reasons can be anything from shipping costs to force account creation to last-minute price comparisons. When you address these concerns, you should build trust with your audience and motivate people to stay loyal to your brand and complete their transactions. Lets jump into some solutions you should consider to address cart abandonment.
1. Streamline your Checkout Process
The easier it is for your customers to complete checkout, the better. When the flow of adding a product to cart and completing payment is quick and easy to understand, your customers are far less prone to abandon the process altogether. It makes the shopping experience more enjoyable for the customer and decreases abandonment percentages. Optimizing the experience reduces friction, especially for new customers. People are often impressed by good UX (user experience).
Shoppers are far more likely to leave things in their cart if entering their information is harder than it has to be. Minimizing the amount of fields that need to be entered is a great first step. Only include what is not optional. This includes name, shipping/billing addresses and payment details. Even further than that, autofill tools make it even easier for customers to complete the checkout process in a timely manner. The Shop app does this very well. With your account you can autofill all of your information, including your payment info and track all of your orders on their app. While accounts can be great tools, it is also very important to make sure you have a straightforward, easy guest checkout option that makes it easy for anyone to complete a purchase on your website.
2. Run Retargeting Campaigns
Retargeting is a relatively simple way to reconnect with your shoppers that have abandoned their orders with products in their shopping carts. For example, some of these strategies include…
Email Campaigns: These can be tailored and specifically sent to those that have abandoned their carts. The best type of content to include in these messages are high-quality photos and catchy copy to reel the customer back in.
Paid Ads on Web and Socials: pop-up ads can remind potential customers that they’ve left something in their cart and encourage them to return and make a final decision. With the gradual phase-out of third-party cookies, marketers are turning to first-party data and segmentation to tailor their retargeting campaigns more effectively.
SMS Messages: Have a high open rate and quick delivery turnaround.
It is important to reach the customer where they are the most likely to be receptive. This often depends on what platforms they are most active on and where they follow your brand the closest.
3. Build a Sense of Trust with your Audience
When your audience trusts you and what you have to say, they are more likely to be receptive to your sales and marketing efforts. Creating a relationship in the digital marketplace builds your credibility with shoppers, both old and new. This messaging doesn’t have to be loud and in your face, it can be subliminal. In fact, sometimes it is more effective when this messaging is quietly added to your brand’s process. This includes placing trust badges and security certifications in key areas on both your website and your socials. Whether they are on the home page, the checkout page, or in the copy of one of your posts, they are a key reminder for customers that their money and information is safe with your brand.
It increases your brand legitimacy and creates a safe space for your customers where they are not worried about being taken advantage of or lied to. Through these messages, you can harness the power of social proof through customer reviews and testimonials. Coming straight from your customers, these are very important for demonstrating the value of the product or service that you offer.
Takeaway: Browsers Can Quickly Turn Into Buyers with Lyv Marketing
Lowering the frequency of cart abandonment on your website is about much more than saving a sale you thought you might have lost. It is about creating an experience for your customers that they are willing and ready to repeat when the time is right. By using the tips we listed above, you are much more likely to retain your customers and have less abandonment at the bottom of the funnel.
The team here at Lyv Marketing is ready to provide you with digital marketing services that work. This includes encouraging customers to complete their purchase and optimizing all of your channels for trust and success. With us, you can watch more browsers turn into loyal buyers.
