You’ve come a long way, ecommerce business. You’ve got a great website, you know how to target customers with ads and your social media presence is strong. But what about that pesky abandonment rate? Are you still losing customers after they add items to their cart? Do they leave because the process of checking out is too hard or does it take too long? Are there too many steps in the process? Are your shipping costs too high? If you answered yes to any of these questions, you might be suffering from an abandonment rate that’s a little too high. After all, the shopping experience needs to be fast, easy and seamless if shoppers are going to stay on your site and complete their purchases.
The goal of any ecommerce business is to increase sales and decrease cart abandonment. Here we will talk about several tips to achieve that. One great tactic involves video. Within ecommerce video tactics one that is becoming increasingly powerful is AI generated personalized videos at scale.Tools like Maverick allow customers to create personalized videos at scale that can be used to promote products, showcase customer reviews, and provide an interactive shopping experience. By using this, businesses can achieve great results, boost LTV and decrease cart abandonment.
A little bit about cart abandonment
If you’re in the ecommerce business, you’ve probably heard this term a lot. But what exactly is it? Put simply, it’s when a shopper adds items to their cart, then leaves the site without checking out or buying anything. Even though this sounds like a bad thing, it can actually be a great indicator of how successful your site is. The higher your abandonment rate is, the more potential there is to increase your sales. That’s because you can track the people who are adding items to their cart, but not purchasing anything. You can then find out why they left your site, and fix the issues. This can lead to a huge increase in sales and profit.
5 Tips to Decrease Your Cart Abandonment Rate
1. Make the shopping process easier
The best way to decrease cart abandonment is to make the shopping process easier. That means removing any unnecessary steps that might be causing your customers to leave. Start by looking at your product pages. Do they have everything that the shopper needs to know about the product? For example, do you have images or video (according to ecommerce video best practices) of the product in use? Is the description detailed enough for shoppers to know whether or not the product is for them? Beyond the product pages, you also have to look at your checkout process. Is it easy to find? Is there only one place to check out? Is it visible and obvious? Do you ask for too much information, or do you make it too difficult to use your site? Checkout is a crucial part of the shopping process. If you make it hard to buy something, shoppers will just leave.
2. Provide fast and accurate shipping times
Shipping can be a big factor in shopping abandonment. If you’re shipping from overseas, shoppers might be waiting weeks for their items. If you’re shipping from another state, it might take a day or two. But either of these options might be too long. If you are shipping from overseas, be sure to let your customers know, and include a date by which they can expect their items to arrive. If you’re shipping locally, be sure to give an accurate shipping date. If you don’t, or if you don’t stick to your shipping date, customers will get annoyed. They’ll feel as though you’re not taking their shopping experience seriously, and they’ll leave.
3. Show shoppers what they’ll actually see
Another way to decrease your abandonment rate is by showing shoppers what they’re actually going to get. This means that you should use high-quality images and video (don't forget to create video according to ecommerce video best practices). You should also show what the product looks like in use. And you should have an accurate description of the product, including any materials used, the size, and other important details. You should also let shoppers know about your return policy. This makes it easier for customers to buy from you, knowing that they can return their product if it’s not what they expected. If you have reviews, make sure that you show them on your product pages. If you don’t have any, you can ask customers to leave reviews. You can also ask your customers to take pictures of their purchases.
4. Offer flexible payment options
Another way to decrease your abandonment rate is by offering flexible payment options. You might want to consider accepting gift cards, cash, or even crypto. You can also offer pay-as-you-go payment options. This gives shoppers the option to only pay for what they want to buy. Shoppers might be hesitant to use a credit card online. It’s also not as convenient when you’re shopping in a store. By offering multiple payment options, you make it easier for customers to buy from you. They don’t have to go to the bank or wait for a gift card to be delivered. They can just buy items from your site and use the payment option that works for them.
5. Send your customer a personalized video
Here’s the thing: people are busier than ever. They are constantly on the go, and their attention is scattered. This means that they might not be able to focus on your product pages or your website. To make sure that these shoppers don’t leave or finish their checkout process, consider sending them an ecommerce video after cart abandonment. This can be a video from the founder that explains your products and benefits in detail, or a video that greets your customer by name and encourages them to finish their purchase. By sending personalized videos at scale, you make sure to regain your customers' attention and you stand out. You also connect with them at another level making it easier and fun for them to shop. Don't make them read a long follow-up text based email. With a 30 second video, they just have to sit back, relax, and watch.
But sending personalized videos to each customer is an impossible task right? Well, not so fast. Fortunately for you who are reading this, there are tools now like Maverick that can help you send name-based personalized videos at scale to all your customers at scale throughout the different stages of their customer journey. You only have to record yourself once and Maverick uses AI and DeepTech to generate multiple personalized videos at scale where you greet each customer by name in your own voice and expressions. Many ecommerce stores and brands are seeing successful results by deploying this tactic and increasing customer lifetime value, delight and retention.
More information and demos here: https://www.trymaverick.com/.
As you can see from this article, there are many answers to the question of "how to decrease your cart abandonment rate". It all starts with understanding why customers leave. Once you know this, you can start making changes to your website to encourage shoppers to stay. You can also deploy smart, scalable tactics that will help you connect and re-engage your lapsed customer like sending AI generated personalized video messages. You can then start seeing an increase in your sales, and your profits will soar.