Cart Abandonment Rate is one of the top issues for any online business. According to Baymard Institute, more than 68 percent potential customers left their online cart and decided not to close the transactions. On average 32 people out of 100 potential customers will leave your store without finalizing the transaction.
That is HUGE!If more than 50 percent of your potential customers abandon your cart before purchasing, it will cost you more than five thousands dollars if you have average sales of $100 with at least 10 potential buyers each day.
So, what should you do to reduce the cart abandonment rate in your site? Here are 3 simple tips to improve your conversion rate...
Present Clear Return Policy
A potential customer, especially the ones without a 100 percent trust will want to know if there is any problem with his or her product. Communicating a clear return policy allows customers to have one less issue to face while buying your product.
Simply inserting a brief statement on return policy or a link on the checkout page to access your return policy will allow customers to feel more secure upon checkout.
Display Shipping Fee
The last thing any customers want to see is an additional fee on their checkout page. It is a big turn off and will eventually discourage your customers to finish the transaction.
Although it seems trivial and conventional, displaying the shipping fee upon checkout provides a good experience for end customers. On top of that, it allows customers to have a good understanding on their total amount of purchase before checkout, thus they won’t get the surprised factor that may discourage customers.
Encourage Checkouts With Offers
Coupons are often used on checkouts to encourage checkouts. Not only it pleases customers, they feel that they are unsuspectingly going away with a bargain.
Implementing coupons or even small offers such as free shipping after a certain amount of purchased are obtain not only provides incentives, but may lead to higher transaction amount. Giving our offers on the checkout page is an effective strategy to give your customers another option to checkout.