You launched your Shopify store, you have a ton of cool products, you setup your ads, traffic is coming in, people are browsing your Shopify store... and yet your still sitting on $0.
Solving checkout abandonment is one of the hardest things to get right in e-commerce. From A/B testing, to timely discounts, to cart abandonment apps, entrepreneurs have been trying to squeeze every single click to get their customers to complete a purchase.
Here are a 5 things you can do today, to help reduce your checkout abandonment rate.
Your customer don't like surprises, unless it's free stuff. According to this article by Optinmonster 21% of customers abandon their orders when they are faced with unexpected charges.
If you haven't figured out the unit economics of how to give free shipping, no worries! You can still avoid customers abandoning the checkout process by just letting them know what the shipping cost will be in advance.
This becomes a bit tricky since shipping (and to a lesser degree taxes) depend on the shipping address and weight of the items being bought.
Thankfully the Shopify ecosystem has some amazing apps that can show your customers the shipping prices in advance. Here are a few:
Let your customers decide what to pay
According to this Forbes article, you can make as much if not more with a "pay what you want" model compared to a standard fixed price model.
The reason behind this is simple; you open up a whole new stream of customers who ARE willing to buy your product, just not necessarily at the price YOU want.
For example, take a pair of shoes that cost $200 on your Shopify store. While some customers are happy to pay the $200, there are a lot more who would rather pay $175. If the shoes only cost you $110 to procure, instead of losing out on all those customers, you have now made $65 and attracted some customers to turn into recurring ones.
This is exactly the behaviour Batch empowers. It helps build the relationship and trust between you and your customers by allowing them to set their target price, and allowing you to sell off batches of inventory at a price you feel comfortable with.
Enable Guest Checkout
Shockingly enough, customers don't always want to go through the hassle of creating an account just to purchase from you. While some loyal customers will create an account to stay up to date with product updates, most customers just want to get in, pay and get out.
This especially holds true for new customers who are just discovering your Shopify store. You know, the ones you just spend a lot of ad money to target and get.
Thankfully setting up guest checkout for Shopify is super easy.
- Go to Settings and select Checkout
- Scroll to the Customer section
- Select "Accounts are Disabled"/"Accounts are Optional"
- Click Save
See this article for more information on handling customer accounts in Shopify.
Let your customers pay how they want
There is a plethora of ways to pay online, Apple Pay, Google Pay, Paypal, Stripe, Amex, Visa, Mastercard... the list goes and on.
A study by comScore showed that 56% of customers will abandon during the checkout process if they don't see a payment option that they like. Your customers want that choice and they want that flexibility.
Whether it's because they want that cash back or travel points, if you don't let your customers pay how they want they WILL leave.
Thankfully, long gone are the days of integrating a bunch of different payment providers. Shopify allows you to setup all these payment methods ridiculously easy. To quickly enable different payment methods:
- login to your Shopify store's admin
- go to "settings"
- click on "payments"
From here you can enable: Visa, Amex, Apple Pay, Google Pay and even use Shopify's native payment gateway.
See this article for more information on Understanding Payment Processors with Shopify.
Discount codes and Shopify abandoned checkouts
While there's a bunch of reasons not to use discount codes and coupons, in some cases it can work. Unfortunately a lot of customers will load up their carts, and hope to get a coupon before checking out.
This will look like an abandoned checkout but one that should be recoverable. Shopify has a really cool feature called: abandoned checkouts.
To see your abandoned checkouts go to your Shopify store's admin > orders > Abandoned Checkouts. From there, you can create a targeted coupon and email it to those customers to hopefully get some of them back.
There you have it, 5 super easy things to do to prevent losing revenue due to cart and checkout abandonment.