According to Baymard Institute’s Cart Abandonment Rate Statistics report, 27% of US online shoppers abandoned their carts in the past quarter primarily due to the complicated or too long checkout process. This means over two-thirds of carts never made it through to checkout.
If we take a look at combined e-commerce sales of $738 billion in the US and EU, the potential for a 35.26% increase in conversion rate translates to $260 billion worth of lost orders which could be recovered solely through a better checkout flow & design. Today, eCommerce marketers see their checkout process hemorrhaging sales and take action to motivate customers to complete the purchase.
Here are a few eCommerce checkout tips on how to optimize your checkout process to skyrocket your conversion rates and most importantly, sales!
Many eCommerce websites force you to register before proceeding to checkout. It has been one of the major reasons for cart abandonment. The best option is to provide a “continue as guest” button which will take the customer through to checkout. The account is created during the checkout process, which looks faster to the customer. Do not forget to include, a Sign In form for existing customers who can also enjoy the convenience of a faster checkout process.
When you checkout on Apple’s website, you can either log in as a returning customer or continue as a guest/new customer without creating an account.
According to Forrester , 23% of people may abandon their shopping cart if you try and force them to create an account. Obviously you do not want to lose a quarter of your business.
2) Clean Layout & Flow
First impressions make a significant impact on the checkout page. Therefore a clean and straightforward checkout page is the first step to a great checkout experience. The first thing you should do is removing every possible distraction which could potentially make your customer flee. For example, removing unnecessary links and form elements, navigation bar, etc. is a great way to keep the customer focused during the checkout process.
Another element that can influence the customer’s decision to proceed to payment is the checkout form. The fewer fields the checkout form has, there are more chances that the customer will complete the order.
So, stick only with required fields and save your customers’ time. The more fields the customer has to fill, the more time he or she needs to invest; and as you know, time = money. So, make the form filling process – a quick thing. And always test your forms! Test the number of input fields, checkout page layout, and buttons.
Apple has a distraction-free checkout page which asks customers only for essential information.
3) Shopping cart Abandonment Campaigns
Any online storeowner is somewhat affected by the cart abandonment from online shoppers. ECommerce marketers have encountered actions you can take to counter shopping cart abandonment, and email follow up is one of the most fruitful ways to do that.
Running cart abandonment campaigns is an outstanding way to convince your customers to come back and complete their shopping; however, the email needs to have convincing elements in it. I’d personally recommended for these follow-up emails:
- Offer them a discount.
- Offer free shipping, if you don’t
- Send a first follow-up email as soon as the customer leaves his cart
- Send a follow-up email about 24 hours later.
Want to read more about cart abandonment? Here’s an excellent post.
4) Safe & Trustworthy Payment
There are certain websites where entering your credit card information is the only way to pay. However, filling up the credit card information manually takes time, and everyone hates it, including me. If you’re still wondering why customers love PayPal, it is because it’s fast. The customer’s credit card information, along with the shipping/billing address is already saved in PayPal, and this eliminates the need for manually typing the information. Can you imagine how horrible it would be if, every time you bought a new product, you had to enter your credit card information manually? If you are not accepting PayPal or Google Wallet on your website yet, go ahead and do it.
5) One Step Checkout
If shoppers are committed to buying a product from your eCommerce website, your role is to get them through checkout as quickly as possible. The success mantra to do so – ask them as little as possible.
Most online business owners think that the best way to streamline online purchases is reducing the number of steps in the checkout process, hence the popularity of One-Step Checkouts. A one-step checkout demands the same input from customers, with all the steps condensed onto one page.
Many e-commerce stores are powered on a hosted solution where customizing the checkout is just not possible. While shopping carts like Magento are hosted by the companies that make these solutions, switching to a community or enterprise version of the software might give you the flexibility you require. This is the last alternative, but for high-grossing e-commerce stores, 1-10% conversion increase in quarterly sales is just the spark you need to make the upgrade.
Magento 2 One step checkout speeds up the whole shopping process and significantly enhances the customer satisfaction. You can purchase an extension/module/plugin, or get or custom-developed through your developer, or through a trusted Magento extension provider. Sometimes checkout extensions already exist. For Magento Store owners, there are more than hundred premium Magento extensions available at Magento marketplace.
For any eCommerce, the checkout process is vital. The process has various elements and requires lots of tweaking; however, if you do it right, you can reduce cart abandonment issues, increase your conversion rate, and finally reach your goals. Remember, it’s all about removing distractions and making the process as easy and quick as possible. To find out what works, you need to customize and test your checkout to maximize conversions.
Do you face limitations in simplifying your checkout?
If you sell products or services online, test some of these tactics on your eCommerce website and watch your site become a conversion machine. You can share awesome checkout examples when you see them. They’re the smart ones that implement automated, streamlined practices with shoppers in mind. Which smart stores have you come across recently? Do share in the comments!