This is our last insert of this 3 part series. See our final suggested solutions on shopping cart abandonment below!
USE ANALYTICS DATA TO UNDERSTAND AND OPTIMIZE YOUR E-COMMERCE FUNNEL
Google Analytics is a powerful tool to understand various metrics about your website, visitors, usage, etc…
With Google Analytics it is possible to create an e-commerce funnel. An e-commerce funnel is a visual representation of all the traffic that is concerned with the e-commerce side of your website. This includes how people move from browsing your products through to cart and checkout pages and finally to the successful completion of the e-commerce sale. The image below depicts how an e-commerce funnel can be set up.
View analytics of e-commerce conversions
With this valuable information at hand, we are able to understand patterns, bottlenecks and behaviour. At the same time, we’re also able to identify what’s working and what isn’t, which allows us to make improvements to the site, with the desired end result being improved conversions and ultimately an increase in revenue.
You probably already have a solid idea of where your traffic is coming from, but seeing how your visitors actually flow through your site to your checkout experience may reveal some interesting insights.
Do you have an E-commerce site and need assistance setting up an E-commerce funnel to understand and conversion? Reach out to us for assistance!
IMPLEMENT SHOPPING CART ABANDONMENT SOFTWARE
Shopping cart abandonment software is a nifty tool that needs to be set up and configured (or developed) in your e-commerce website. The purpose of this software is to track users who add products to their shopping cart, then checkout of the site but never conclude the transaction (don’t complete payment).
So what the software does, is it sends the consumer a friendly reminder via email, that there are items in their shopping cart that still need to be purchased. These emails can be personalized and allow the user to return to their cart with a single click.
Other items can be bundled with the email such as asking the consumer why they didn’t want to complete their purchase (allows us to understand why they abandoned the shopping cart) or offering them a voucher to entice them to transact there and then, at a discounted price (perhaps for a limited time period, to create a sense of urgency).
By implementing this type of solution, you are bound to convert some of those consumers who were almost done with the purchase in the first place.
USE REMARKETING TO TARGET ABANDONERS
Another great strategy to combat shopping cart abandonment is to target these consumers in a different way, through a Remarketing Campaign.
Remarketing campaigns are essential and highly applicable to online stores, due to the visual appeal of the products (if they are physical products). By remarketing to consumers who have already shown interest in your products and almost purchased them, you drastically increase your odds of winning them over and getting your products sold.
Remarketing campaigns can be fairly complex but getting them set up, running and optimized will bring huge value to your bottom line.