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35. Getting Over The Plateau – Less Abandoned Carts and More Customer Traffic

Episode 35

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Whether you’re starting an e-commerce business or already have one, are you worried that your e-commerce store isn’t performing as well as it could (or should) be? It’s probably time to optimize your online store.

The pandemic has caused a drastic shift toward e-commerce. Reports suggest that by 2023, e-commerce is projected to make up 22% of all retail sales globally (up from just 14% in 2019).

With such dramatic growth, we can expect that e-commerce will evolve quickly—and so should your store.

By doing so, you’ll tackle the plague of abandoned carts and increase returning and first-time customers in your stores.

Chaitanya 00:07
Hi, welcome to Driven e-commerce at work the podcast where we bring in conversation with e-commerce experts. And I'm your host, Chaitanya Mohan Product Marketer here at Cloras. Each week, I'll bring you interesting topics in e-commerce, marketing and operations for your distribution business, so that you can go and implement it in your day to day life. Tune in every Tuesday, and never miss an episode.

Chaitanya 00:35
Welcome back to another episode of 10 Minute Tuesdays with your host Chai. Over the last few weeks on this podcast, I've covered topics about building, launching and scaling e-commerce businesses. But as your business's goes through these processes, it's important to check for working parts and see if they're not wearing out. Now, whether you're starting your online business already have one.

Chaitanya 00:57
On today's podcast, we'll go over a few tips to optimize your ecommerce stores for increased efficiency and more conversions. But before we get into the tips right away, you must look out for these two major red flags that indicate whether your online business actually needs optimization or not. Number one, increased abandoned carts. If your abandoned cart rates are high, it means it's time to look into your checkout experience and see if there's something you can do to make it easier. And number two, customer traffic on your website is declining or plateauing. This means that if for few months now your traffic is consistently low or not growing, you definitely need to optimize, I'll give you three tips on how to solve for abandoned carts and how you can increase customer traffic on your e-commerce business.

Chaitanya 01:45
So without further ado, let's get right into it and begin with the plague of e-commerce that is abandoned carts. Now, here are three things you can do right away to reduce abandoned cart rate on your online business. Number one, don't require an account by the user, allowing customers to checkout easily Think about it. No card means no abundance, or maybe I just oversimplify it. So simpler checkout process means higher conversions. Having people make accounts add complexity to their decision making and might throw them off by second guessing their buying choices, create something like a fast Checkout button, wherein all their essential information such as user name, number and billing info are already stored upon the first time the user came on your website.

Chaitanya 02:36
Now let the user finish the checkout process in just one or two clicks. This enables the buyer not to feel like there's a card, but more of a direct buying experience from a retailer above the counter. Now, tip number two is make it easier for your customer to save cards. Now picture this, you're at work and you zone out you go on your favorite website to look for things. You like the items and you add them in your cart. And suddenly, your boss or a colleague walks in, you close the tab in a rush. But eventually you will get the time to visit the site again, only to see your card is empty and all those amazing products you put in there are lost. Frustrating, right? Yes, so customers can leave your website with their item in their cart, that's natural, but they may want to come back and pay for it. saving their progress by saving their carts will make effortless for checkout and might even give an uptick in returning customers.

Chaitanya 03:35
Number three, remind cart abandoners with the pop up, exit pop ups observe customer mouse movement on your website and can understand whether they're about to leave the page. So you can program a pop up that would make the customer pause and reconsider. You can add additional products or offers in that prop up to entice the customer further such as free shipping or sale or discount. This would support your cause of reducing the abandoned carts additionally. So I hope if you deploy these steps right away, you can significantly lower the rate at which your carts are being abandoned. So let's move on to the other issue, which is dealing with the issue of getting more customers to your online business.

Chaitanya 04:20
Now, if your traffic growth is stalled, if you see your reports and you see that the customers are not growing on your website, or they're just bouncing off, it's a sign that you need to optimize and improve your existing site. I recommend three things you can do right away. Number one, get to know your customers. This will give you an idea of who are you selling to and how you can sell more. This gives you insight about what kind of products you should be bringing in and how you can best position them. You can get to know your customers through various methods you can take customer surveys interview your most recent customers, or monitor hashtags are mentioned on social media.

Chaitanya 05:01
Number two, absolutely get your product details right. This is absolutely a must. Why? Because product details not only help the shopper but help you on search engines too easy to read details based on SEO keywords and your customers will come right to you. Update product photos and informations use the product details to appeal the customer's requirement desires and answer their questions. If you're not doing this, it's time to get that right.

Chaitanya 05:32
More information to shoppers mean more purchases and confidence in your website in your brand. You can do this by hiring a dedicated copywriter, or a sales team that knows your products very well and can communicate that in writing to your prospective customer. And third, to help you with the cause of reduced traffic on your website. Make your website faster. And this is a no brainer. Okay? You know what's worse than no website a slow website we live in the age of 5G internet speeds right now, it cannot have a slow website anymore. Customers are impatient we hate to stand in queues and Starbucks while getting our coffee and while checking out at any of our stores.

Chaitanya 06:15
So we are especially impatient when it comes to online shopping. So make your website faster by improving the page load speed. Combining with this with the perfect product details and knowing your customer needs exactly, you will have a powerhouse of a website that returns customer and increases traffic as they tell their friends how awesome your business is. So I hope you use these tips to improve your online business. But a word of caution. I also want to tell you that online store optimization is a marathon it's not a sprint, you have to nurture your business slowly and daily. This is not a one time thing and you have to keep at it. Learn about the industry tweak and ensure that you stay up with whatever changes come your way.

Chaitanya 07:06
Thank you for tuning in. This episode is brought to you by Cloras. Cloras is an integration platform built for B2B distributors, a leader in Epicor Profit 21 integration, go visit our website @cloras.com that is www.cloras.com. Subscribe to the show on Apple podcasts or Spotify and leave us a review there. Until then, stay safe and I'll see you in another episode.

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