We’ve all done it: you fill our virtual shopping cart to the brim with goodies, only to come face to face with the payment details page and…poof! You’re gone. To put it in perspective, major analyst studies conducted over the past 7 years have recorded an accumulative average shopping cart abandonment rate of over 67% (Baymard).
In a time when consumers are bombarded with more distractions and options than ever before, marketers must go the extra mile to create a seamless and relevant user experience from first touch all the way through the conversion funnel. Here are four tips for leveraging social infrastructure to transform shopping cart abandons into conversions.
Reduce barrier to entry.
11% of US adults admit to having abandoned an online purchase because they didn’t want to register online or the site asked for too much information (Forrester). Allow visitors to register for your website with the click of a button using their existing social media identities via Social Login. This gives you permission-based access to users’ social data, which can be used to conveniently pre-populate form fields during the checkout process.
Personalize product recommendations.
With access to users’ social identities and on-site actions, brands can construct comprehensive profiles based on users’ real-time likes, needs and interests. This level of insight enables marketers to provide personalized, relevant product recommendations, effectively moving them further down the purchase funnel faster, with 40% of consumers buying more from retailers who personalize the shopping experience across channels (Monetate). Consumer insights also inform customized follow-up messaging and content that foster return visits and increased purchases.
Showcase consumer ratings and reviews.
The connected consumer relies heavily on input from friends, family and other consumers throughout the purchase process, so much so that 90% of consumers say their purchase decisions are influenced by online reviews (MarketingLand). Giving consumers the ability to provide genuine feedback around your product or service increases the validity of your website to both new and returning customers, fostering increased consumer trust that results in shopping cart conversions.
Incentivize brand loyalty.
Repeat shoppers in the United States represent just 8% of all site visitors, but account for over 40% of total online sales (Source: PracticalEcommerce). Don’t stop pushing for conversions after consumers’ first purchases; turn them into brand advocates and loyal customers by offering them special rewards and exclusive VIP savings for both initial and follow-up buys. Case in point: while 80% of brand loyalists say they do not buy unknown brands just to save money, 69% are always looking for special offers (Experian).
Shopping cart abandonment is a consistent battle for businesses. Today’s brands must fight harder than ever to stand out against the crowd and provide users with the kind of personalized, seamless experiences that move them from connect to convert, time and again.
By Rachel Serpa