The Right Payment Providers: The Cart Abandonment Solutions That Work

cart abandonment solutions

Did you know that almost 70% of shoppers abandon their carts?

Cart abandonment refers to when a customer adds items to their online cart but doesn’t make a purchase. Lack of trust in online payments and not having the right payment methods available can cause this, among other reasons.

Customers who change their minds about a purchase can be retained with cart abandonment solutions. Keep reading to learn which solutions to implement.

Causes of Shopping Cart Abandonment

There are multiple reasons that customers abandon their carts, so it’s important to hit all of the notes when considering solutions.

Cost is a major factor for modern online shoppers, so it’s no surprise that one of the leading causes of cart abandonment is high fees and shipping prices.

Online shoppers want a great deal and they might feel differently about a sale or item when they reach the checkout process and have to pay more than they originally thought.

Another common reason for cart abandonment is that delivery is too slow. Even if you offer free delivery, a long wait between the order date and delivery date will send customers somewhere else.

Cart Abandonment Solutions That Work

Cart abandonment can cause your business to lose revenue if the problem continues. Customers may choose to buy from another retailer or buy in-store if you have a brick-and-mortar location.

While most make a purchase later due to retargeting and shopping cart recovery emails, some abandon their purchase entirely.

These cart abandonment solutions can help you mitigate this risk or avoid it altogether:

Accept Different Payment Methods

E-commerce payments are huge for customers. Buying from your online business essentially means they are trusting you with their personal information.

If a customer has never shopped with you before, they may be hesitant to enter their card number. When you accept alternative online payment options that customers already trust, you can lessen your cart abandonment rate.

Common payment methods are shopping apps and digital wallets. Buy now, pay later payment options are growing in popularity as well.

Improve User Experience

Your website can make or break your ability to earn revenue and retain customers. The journey to the shopping cart begins as soon as a potential customer reaches your site.

To improve the user experience, choose the best e-commerce platform for your business. Think of it this way, if your website looks sketchy, runs slow, or makes it difficult to purchase something, you’re going to lose money.

Your e-commerce platform should be responsive and mobile-friendly to reduce cart abandonment.

Offer Discounted Shipping

A common reason for cart abandonment is that the extra costs tacked on at checkout are too high. Taxes and unexpected shipping costs can force a customer to change their mind and abandon their cart.

While you can’t change taxes, you can offer discounted or free shipping. Shipping deals are major incentives and should be displayed at your checkout process.

Consider covering the cost of shipping when a customer spends a certain amount. Not only is this a great cart abandonment solution, but it can also act as a sales tactic. Customers may be willing to spend a little more to get free shipping.

If your customers are leaving their carts because your delivery process is too slow, consider distributing inventory across warehouses in areas with a high volume of orders.

Create a Return Policy

E-commerce sales should be backed up with a return policy. Some shoppers abandon their carts because the business lacked a return policy, or it didn’t fit their needs.

Shoppers want to know that they have the option to return things online for a full refund. A no-risk purchase might not sound ideal to business owners, but utilizing this strategy can save you money over time by increasing revenue.

Retarget Cart Abandonment Customers

Reducing cart abandonment is easier if you retarget these customers directly. You can use various channels to retarget customers and reduce your cart abandonment rate.

Email, social media, and online ads are great mediums for retargeting. Facebook is known for retargeting ads because you can sync your shopper data with a Facebook profile.

Cart abandonment emails are a top solution, but they don’t work for every situation.

To send an email to someone who has abandoned their cart, you need to have their information. This means they’ve likely been a customer in the past or have signed up for your email list.

If you do have an email associated with an abandoned cart, you can personalize the retargeting email to remind someone to complete their purchase.

Consider adding an incentive to convince a shopper to come back to their cart. Don’t wait too long to send an email. It’s good practice to send an email reminding someone of their cart within an hour of abandonment.

Revamp Your Checkout Experience

A long, tedious checkout experience can deter customers from completing their purchase. If your checkout takes too long, it’s time for a revamp.

The idea is to take customers to the checkout and confirmation pages with a few clicks. One too many clicks causes cart abandonment. Ditch all unnecessary forms to create a positive checkout experience.

Simplify your checkout experience by offering a one-click checkout. This seamless checkout process leads to faster conversions and an increase in conversions.

Implementing a payment program that saves customer information for future purchases allows buyers to make a purchase with one tap.

E-Commerce Payment Solutions

When it comes down to it, the best cart abandonment solutions have to do with payment options, shipping costs, and additional fees.

A simple and secure checkout environment can increase your revenue and reduce your cart abandonment rate. Trinity Payment Solutions offers secure and reliable payment processing to provide your customers with a positive buying experience.

Our e-commerce products are compatible with major online shopping carts and systems. Plus, your business benefits from robust financial reporting options.

Ready to up your game in the e-commerce space? Contact us today to get started on the best payment solution for you.

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If you’re in the market for a new payments partner, want to upgrade your systems, or just need to ask a few questions, our dedicated team is here to help. Try us on for size.