Cart abandonment is a critical and all-too-common problem for online merchants. In terms of revenue, eCommerce stores suffer a significant loss as a result of this issue – the impact of cart abandonment on sales, however, varies by industry. It’s estimated that 60 to 80 percent of buyers leave their shopping carts after picking the items they want to buy. In this post, we’ll go through the reasons for cart abandonment and how you can get your WooCommerce abandoned cart sales back with some simple, tried-and-true procedures.
What Does an Abandoned Cart Mean for Your WooCommerce Business?
Aside from the ordinary goods damage, which is usually factored into any business’s budget, the potential loss resulting from abandoned carts may be rather unpleasant. However, if converted at the proper moment and with the correct tools, an abandoned cart might result in sales. You may automate the process by using a WooCommerce abandoned cart recovery plugin. As a result, prompt intervention is required to avoid the massive sums of income that may otherwise be lost.
We’ll be utilizing the ELEX Abandoned Cart Recovery plugin in this post.
The Most Common Reasons for Cart Abandonment
Cart abandonment may be caused by a variety of circumstances, ranging from high product pricing to a lengthy and confusing checkout procedure, among others. The most typical reasons for cart abandonment are mentioned below.
Product Costs Are More than Expected
The majority of shoppers add items to their shopping carts because they enjoy them. However, there is a chance that they will regret acquiring them since, on second thought, they may find the price to be too expensive and not fit into their financial plan at the moment.
Additional Fees are Exorbitant
Customers place items in their shopping carts with the purpose of purchasing them. However, the additional charges applied to the product(s) at the time of checkout may cause customers to rethink their purchase. As a result, they just leave their order and search somewhere else.
Other Similar eCommerce Sites Offer Lower Prices
Customers have a plethora of possibilities to shop for their favorite things in today’s internet environment. Unless they are dedicated to a certain brand, they frequently research costs before deciding to buy from a specific online retailer. They will abandon the basket on your site if they find a cheaper price for the identical goods on another site.
Account Creation Is Required
We realize that as a company owner, you would like your customers/visitors to sign up for your site. Getting customers to register before they add items to the cart, on the other hand, is not a good idea. Any step that slows down their product selection process might put a damper on their purchase mood. As a result, it is better to move the registration towards the end of the checkout process.
Checkout is time-consuming and complicated.
Customers like shopping and checkout experiences that are simple and/or take less time. Anything that slows down that procedure might dissuade consumers from making a purchase. Even after picking items, a single extra step or form field to fill out might annoy customers and cause them to abandon the site without finishing the payment process. That is something that no company wants. As a result, any additional steps in the checkout process should be avoided.
Payment Options are Limited
There is no particular payment method that all clients prefer. They would want to be able to choose the payment method that they are most comfortable with or familiar with. If your website does not have one, your business could end up losing revenue and potential customers.
Concerns about security
At the end of the day, every client wants to know that their transaction is safe. If customers are unsure about the security of your shop’s transactions, they will abandon the cart and go to another site or an offline store, where they will feel more safe.
For most customers, privacy is one of the most important parts of a stress-free buying experience. They may refuse to make the transaction if they believe their privacy is being violated. Gaining the trust of customers in this area is critical for any eCommerce organization.
After you’ve figured out the reason why people abandon carts in your store, it’s time to look at some tactics that can help you overcome the problems you’ve identified and get your sales back on track.
How to Recover WooCommerce Carts That Have Been Abandoned
Even if they are merely viewing your website, each visitor has the potential to become a buyer. This would result in income for your company. As a result, it’s critical to keep these visitors/customers on the site and finish their transactions. If consumers do not finish their orders, having suitable recovery measures in place will aid in the conversion of these potential sales. A few little adjustments can help you recoup a significant amount of revenue.
We’ve put together a list of ways to assist you recover abandoned carts.
Recovering Orders That Have Been Abandoned
To recover abandoned carts, you’ll need to send out strategic emails. Customers will be encouraged to complete their orders if they get recovery emails at predetermined intervals.
Setting up the Email
The plugin may be set up to send out recovery and follow-up emails, as well as discount coupons or special offers, at predetermined intervals. Attractive discount coupons will influence the customer’s decision to proceed with the transaction.
Using an especially curated Email Template
By default, the plugin includes three email templates. However, it also gives the possibility of generating your own email template as per your demand.
Placing a Timeframe
If the consumer does not take action on both the cart and checkout pages within a certain amount of time, the cart is considered abandoned (preset). When the recovery email is sent out quickly after the cart is abandoned, it will work best to convert the “nearly lost purchases.” If the client does not take any action to complete the order, the follow-up emails must be halted after a specified amount of time (again, predetermined) to avoid email spamming on the customer’s end.
Creating a Database of All Orders That Have Been Abandoned
The plugin allows you to generate a detailed list of abandoned orders, including cart ID, username, email address, date, and time of order abandonment, goods in cart and their IDs, total price, and recorded time. To a considerable part, this list will make the recovery process easier. Even the time of the customer’s recovery email will be noted in this list.
Providing Special Offers/Discount Coupons
Customers have been observed to complete orders after abandoning carts when appealing discount coupons or special offers are offered. This method is certain to encourage clients to take advantage of the discounts while they still can and complete their transaction.
Examining the Order Report
The order report is shown in the form of a graph, which shows the total amount recovered, as well as the amount lost (due to abandoned carts that could not be retrieved) and the conversion rate over a set time period.
Cart abandonment is a problem that must be addressed in the eCommerce industry. By altering different sections of your WooCommerce site, you may leverage abandoned carts to improve conversions. Your payment and shipping options, as well as your checkout method, might all have an influence. Reminding consumers through email is a tried-and-true method for recovering some of the customers who abandoned an incomplete order on your site. The WooCommerce community has a number of plugins that may help you create well-organized email campaigns.
For the greatest high quality plugins to help your eCommerce site expand quickly, visit the ELEXtensions website.