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One of the biggest problems in online selling is shopping cart abandonment: when buyers fail to complete the purchase they start. Research firm Baymard Institute estimates that the average online shopping cart abandonment rate is 69.2%.1 This article looks at why shoppers abandon their carts, and how you can leverage the strength of the PayPal brand to help you increase conversion rate.
One reason shoppers abandon carts is trust – the perception by visitors that your business is legitimate and reputable. A lack of trust in a site and its ability to securely handle credit card and other sensitive information can lead to checkout abandonment.1 The first step in establishing trust is to show customers they are transacting with a reputable business. After all, they are about to give you, a complete stranger, their sensitive information. Here are several things you can do:
A professionally designed website can have a huge impact on the trust level of a first-time shopper. It shows the world you have put thought, sweat and money into presenting your business to the world. Likewise, spelling and grammar errors say you are not serious about your business.
Trust seals can help reduce shopper anxiety and improve confidence, yet many brands don’t display security or trust information during the checkout process. They come in a variety of flavours and can be placed where they can be seen throughout the site, such as in the header or footer. Just be sure to do research and only display trust seals from reputable sources.
Satisfaction guarantees help reassure shoppers you are willing to accept returns for items. Your satisfaction guarantee seal doesn’t have to be fancy – there are thousands of them available free online. Put it where the customer can see it on every page, such as the global footer and make sure to honour any guarantees you make.
Nothing is more frustrating than having an unanswered question about your product or service. Your shoppers are displaying interest in your goods or services and want to find out more – but, alas, they are unable to. If you just don’t have the staff to handle an inbound customer service number, make sure to have an email address instead.
Make sure to include an “About Us” section. Tell the story of how you started your business or why you carry the products you carry. Include images of you and your employees, even your warehouse or office (if you have one). Even posting your company’s mailing address can reassure shoppers they are dealing with real people at a real company.
Shoppers today demand more choices than ever – they expect a wide range of products, services, and features. That expectation extends to payment options. In a recent study, 31% of online shoppers said they will only shop on a site that they know offers their preferred payment method.2
As you sell products online and implement the recommendations above, always keep the customer’s experience in mind. Customers want a smooth, streamlined process that is free of unnecessary requests and is easy to navigate.
Lowering cart abandonment rates should be an aim for any online retailer, large or small. We can help you build a better customer experience to increase conversion rates.
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