EXCLUSIVE: Shopping Cart Abandonment And The Perils of Not Researching Sales Funnels
Sometimes entrepreneurs lose ecommerce sales to shopping cart abandonment but fail to take action. They simply ignore the situation thus leading to reduction in profits. It also makes them lose important opportunity to push customers down the sales funnel so that they can buy the product. If they leave automotive shopping cart, they will not buy the automotive product. As an entrepreneur, you should know that the buying process is quite complex especially if the product in question is new. Try to solve the problem of shopping cart abandonment so that you can have many customers move down the process from awareness to purchase and repurchase phases. There are a number of leads which you can use to encourage customers complete their transactions. Let’s first understand the reasons for shopping cart abandonment.
These Are The Reasons
When the price is too high, customers get shocked and immediately abandon the shopping cart. High price is usually due to taxes and shipping expenses. As an enterpreneur, you should try to reduce on the cost of your product so that customers are not scared by the price.
Leaving The Computer
Sometimes customers may just leave their computer unexpectedly to attend to urgent matters before completing transaction. Even though you do not have the ability to control their actions, learn to write attractive product description so that they will postpone everything and proceed down the sales funnel to purchase phase.
Concerns About Data On The Website And Transaction Security
Sometimes customers may feel that data provided on the site is fake or scam. This will make them to abandon shopping cart. Try to make information genuine so that customers can trust your site. Transaction security is where customers leave shpping cart especially when it comes to payment stage. Some think that by providing their banking information, someone will hack into their accounts and steal their money.
Failing To Provide Customers With Guest Checkout
You should always provide your customers with guest checkout. This will help him to settle payments for product and checkout from the site.
Some clients will simply abandon automotive shopping cart by clicking on closing option simply because they do not know how they will leave the site.
Failing To Provide Many Shipping Actions
If you don’t provide many shipping options, chances are that the customer will abandon shopping cart. This is because they may not be impressed by the availabe options. Having many options will enable customers choose their preferred shipping method.
Few Payment Options
When payment options are few, some customer may fail to pay for the product and therefore abandon shopping cart. Every customer has his preferred payment method. Ensure that you provide a variety so that they can choose. Payment options include paypal, skrill, visa and more.
Perils of Not Researching Sales Funnels
Failing to research sales funnels is very detrimental to your ecommerce. You should first understand all the phases and what they entail.
Here are The Phases
Awareness Phase- The customer becomes aware of the product
Interest Phase- The customer develops interest in the product
Evaluation Phase- The customer examines if the product will satisfy his need.
Decision Phase-The customer makes a decision to buy
Purchase Phase- The customer buys the product
Repurchase Phase-The customer makes a repeat buy. He becomes loyal.
If you don’t research sales funnels and know what happens at each stage, customers will not move down the sales funnel. They will stop at the initial phases and abandon shopping cart. This will lead to loss of potential buyers thus reduction in revenue. This can negatively affect your business in the long run if not checked in time.
To wind up, the above are the reasons for shopping cart abandonment and suggestions on how to prevent it. We have also looked at sales funnel and perils of not researching about it. Learn to do research and your ecommerce business will improve significantly.