Managing the eCommerce Selling FlowShopping cart abandonment &retention optimization tips

Elad Goldenberg

Sunday, February 24, 13

2

The average shopping cart abandonment rate

65%

Average onlineconversion rate2.13%

Is the average value of an online order

$116

Sunday, February 24, 13

Key components of eCommerce purchasing process 3

Key components of eCommerce purchasing process

View item pageRegistration

Shopping

Shipping

Add items to cart

Up-sale / MerchandisingBilling

Confirmation

Review order

Sunday, February 24, 13

Face-to-face interaction

Loyalty

In-store AtmosphereNon verbal

communication

Inventory displayBranding

Touch, feel and try the

product Personal attention

Purchasing confidence

Waiting in line

Sunday, February 24, 13

Why web buyers abandon shopping carts? 5

Why web buyers abandon shopping carts?

High shipping

cost

44%

Wanted to save

products for later

24%Not ready

to purchase

41%

Website too slow

11%Not enough

payment options

7%High product

price

25%

Spam with offers

6%

Sunday, February 24, 13

What impacts the customer during checkout process? 6

What impacts the customer during checkout process?

Fear, uncertainty & doubt

Incentives

Complexity of purchase Buying stage

Trust indicators

Visitor persona

Sunday, February 24, 13

Top 8 conversion optimization tips for checkout process 7

Top 8 conversion optimization tips for checkout process

Secured checkout process

1.

Display progress bar in checkout process

3 .

Require only necessary information

2.

Using cross-sell & up-sale before checkout

4 .

Sunday, February 24, 13

Average checkout process 8

Average checkout process

1 STEP 2 STEPS 3 STEPS 4 STEPS 5 STEPS 6 STEPS 7 STEPS 8 STEPS 9 STEPS

3%4%

11%

18%

28%

22%

9%

4%1%

Sunday, February 24, 13

Top 8 conversion optimization tips for checkout process 9

Minimize confusion in page layout

5 . Allow guest checkout6.

Display discount code at the right time

7. Collect users data in checkout process

8 .

Top 8 conversion optimization tips for checkout process

Sunday, February 24, 13

Shopping cart abandonment and behavior prediction 10

Shopping cart abandonment and behavior prediction

15%

42%

43%

Recovery rate 48%

Recovery rate 57%

Recovery rate 18%

Serial Abandoners

42% Avg. 2.4

in 28 days

Recent Goal Abandoners

15%One-Time

abandoners

43%

✦ Shopping cart abandonment is an important part of the normal buying process

600,000 People

250,000 online transactions

$99

25% of abandoners will never return

Sunday, February 24, 13

11

of the sites automatically sign up their users for their newsletter81%

40% of users said they did not want newsletter

Sunday, February 24, 13

Start a shopping cart abandonment retention program 12

Start a shopping cart abandonment retention program

Remind forgetful customersNewsletters, deals, activity summary

Optimize performance of mail campaignsStructure set of mails to increase attraction

New offer or related itemTime-limited, free shipping

Remind customers when product is in stock againApologize for the inconvenience and offer a discount

Automate mailing and A/B testingTiming, diversity of features and offers, personas

Sunday, February 24, 13

Sunday, February 24, 13