Here are two facts worth considering:
Fact 1: Magento powers over 7% of the websites that use e-commerce technologies.
Fact 2: The average Magento abandoned cart rate is 70%, accounting for a loss of about $18 billion in a year.
What do they suggest?
Well, if you do not take measures for abandoned cart recovery in Magento, this can spell big losses.
But what can you do to reduce abandoned carts in Magento?
Here are some effective strategies to reduce cart abandonment in Magento and some smart tools that can help you in this aspect.
Let’s get started.
Effective Strategies to Minimize Cart Abandonment in Magento
Some of the most effective strategies to minimize cart abandonment rates in Magento are as follows:
Offer Free Shipping
Image Source: A Better Lemonade Stand
Offering free shipping is a proven strategy to minimize cart abandonment in Magento. According to a study by Saleslion, around 60% of online shoppers abandon their carts due to shipping costs. Free shipping can significantly reduce this number and encourage customers to complete their purchases.
One effective way to implement free shipping is using popups from tools like Picreel. These popups can be triggered when a customer tries to leave the website without making a purchase. Offering free shipping through these popups can entice users to reconsider their decision and complete the checkout process.
Provide Options for Guest Checkout
Image Source: Baymard
Forcing customers to create an account before making a purchase can lead to high cart abandonment rates. By providing options for guest checkout in Magento, users can easily complete their purchases without the hassle of creating an account. Research by Clever Ads indicates that 37% of users abandon their carts due to being forced to create an account.
By allowing guest checkout, customers can avoid filling out lengthy forms and save time. This convenience can significantly reduce cart abandonment rates and improve the overall customer experience.
Offer Multiple Payment Options
Image Source: Iamanjru
Providing multiple payment options helps to cater to the diverse needs and preferences of customers.
A study by PPRO revealed that 42% of customers abandon their carts if their preferred payment method is not available. Magento allows for integrating different payment gateways, such as PayPal, Stripe, and Amazon Pay, to provide a seamless checkout experience for customers.
By offering various payment options, customers can choose their preferred method and are more likely to complete their purchases.
Use Progress Indicators on the Checkout Page
Image Source: Stack Exchange
Including progress indicators on the checkout page helps users understand how far along they are in the checkout process. This visual representation provides a sense of control and encourages users to complete their purchases.
According to a study by Smashing Magazine, progress indicators can reduce the perceived complexity of the checkout process and increase conversion rates. Magento provides options to display progress indicators on the checkout page, such as a progress bar or step-by-step checklist.
Effortless Navigation
Effortless navigation is crucial in minimizing cart abandonment. If customers find it difficult to navigate through the website, they are more likely to abandon their carts out of frustration. Statistics show that more than 50% of users abandon their carts if the checkout process is more than 30 seconds.
Magento offers various features, such as clear navigation menus, search functionality, and intuitive design templates that can enhance the navigation experience. Cart abandonment rates can be significantly reduced by making it easy for customers to find products and move through the checkout process.
Loyalty Programs, Discount Coupons, and Gift Attractions
Image Source: Open Loyalty
Loyalty programs, discount coupons, and gift attractions effectively reduce abandoned carts in Magento stores. Loyalty programs reward customers for repeat business, while discount coupons incentivize completing purchases with reduced prices. Gift attractions offer free or additional products to increase the perceived value of the purchase.
In a study conducted by Voucherify on cart abandonment promotions, it was found that cleverly designed abandoned cart emails with attractive discounts or promotions had a positive impact on completing purchases
Incorporating special popup offers from Picreel that highlight these loyalty programs, discount coupons, and gift attractions can be effective in catching the customer’s attention and encouraging them to proceed with their purchase.
Enhance Customer Experience
Image Source: Common Ninja
Providing a seamless and enjoyable customer experience is key to reducing cart abandonment. For this, you can optimize website speed, simplify the checkout process, offer transparent pricing, provide guest checkout options, implement a responsive design for mobile users, utilize personalized product recommendations, and offer reliable customer support. These measures contribute to a smoother, more satisfying shopping experience in e-commerce stores.
A study by We Make Websites found that even a one-second delay in page load time can lead to a 7% reduction in conversions. Optimizing the website’s performance ensures a smooth browsing and checkout experience, leading to higher conversion rates.
Track Abandoned Carts and Send Email Reminders
Image Source: App docs
Tracking abandoned carts in Magento enables businesses to send email reminders to customers who abandoned their carts without completing the purchase. According to a study by Dynamic Yield, nearly 44.1% of all abandoned cart emails are opened, and over a third of clicks lead to purchases.
By sending targeted and personalized email reminders, businesses can re-engage customers and encourage them to return and complete their purchases. Magento provides features and extensions that enable tracking and automated email reminders, helping businesses recover lost sales and minimize cart abandonment.
Read Also: Shopping Cart Abandonment: 20+ Tips You Should Know About!
Tools to Recover Abandoned Carts in Magento
Picreel for Magento – Best for Exit-Intent Popups
Picreel is a tool that helps you reduce cart abandonment by displaying exit-intent popups to your visitors who are about to leave your Magento site.
These popups offer a last-minute incentive to complete the purchase, such as a discount code, a free gift, or a reminder of the cart contents. Picreel allows you to create and customize popups with a drag-and-drop editor and track their performance with analytics.
Picreel also integrates with other marketing platforms, such as email, SMS, and social media, to help you retarget your visitors and increase conversions.
What You Will Like:
- Allows you to create and display exit popups to capture the attention of visitors who are about to leave your site.
- Offers 100+ popup templates and customization options for popups.
- Integrates with email marketing platforms like Mailchimp, Aweber, Constant Contact, and more.
- Offers detailed analytics and reports to measure the performance of your campaigns.
- Supports 70+ languages for popups and multiple currencies.
What You May Not Like:
- It does not support a dark mode.
- The software may refresh automatically if you do not have a stable internet connection.
Price: Forever free plan for up to 5000 monthly visitors. Paid plan starts at $9.99/month.
Springbot – Best for Personalized Email Campaigns
Springbot is a marketing automation platform that helps you create personalized email campaigns for your Magento store. It enables you to segment your audience based on their behavior, preferences, and purchase history and send them relevant and timely messages that drive engagement and sales.
The tool also provides you with insights into your campaign performance, customer lifetime value, and ROI. Springbot integrates with various digital marketing channels, such as social media, SMS, and advertising, to help you reach your customers across multiple touchpoints.
What You Will Like:
- A comprehensive marketing automation platform that helps in email marketing, social media marketing, online ads, and more.
- Segment your customers and send personalized and targeted emails to recover abandoned carts.
- Easy integration with other eCommerce platforms like Shopify, BigCommerce, and WooCommerce.
- Provides insights and recommendations to optimize your marketing strategy.
- Responsive customer support team and a resource center for assistance.
What You May Not Like:
- Quite expensive for some small or medium-sized businesses.
- Limitations in the email design or customization.
Price: Starts at $19/month.
Remarkety – Best for Behavioral Segmentation
Remarkety is a tool that helps you segment your customers based on their behavior and shopping patterns on your Magento site. It allows you to create dynamic segments based on criteria such as purchase frequency, order value, product affinity, browsing history, and more.
The platform also helps you automate email campaigns based on these segments, such as welcome emails, abandoned cart emails, loyalty emails, and win-back emails. It helps you optimize your email marketing strategy by providing data-driven recommendations, A/B testing, and analytics.
What You Will Like:
- Powerful email marketing features to create and send automated emails to recover abandoned carts and increase sales.
- Uses behavioral and transactional data to segment your customers and send personalized and relevant emails.
- Offers real-time reports and analytics to track the performance of the campaigns.
- Allows you to segment your audience based on their behavior, such as past purchases, website visits, and interactions with emails.
- Dynamic content capabilities allow you to personalize emails with content tailored to each recipient.
What You May Not Like:
- Lacks some advanced features and integrations.
- Faces issues with email deliverability and spam filters.
Price: Starts at $25/month.
Omnisend – Best for Multichannel Campaigns
Omnisend is a tool that helps you create multichannel campaigns for your Magento store. It enables you to communicate with your customers through email, SMS, push notifications, and more from a single platform.
This tool helps you automate your campaigns based on triggers, such as cart abandonment, product views, order confirmation, and more.
One of the most interesting things about this tool is that it helps you personalize your campaigns based on your customer segments, preferences, and behavior.
Omnisend provides you with reports and analytics to help you measure and improve your campaign performance.
What You Will Like:
- Use complete contact data to personalize your messages, improve your targeting, and increase your conversions.
- Recover abandoned carts and increase conversions with automated workflows and triggers.
- Free plan for up to 15,000 emails per month and a flexible pricing plan based on subscribers and features.
- Check your sales and performance metrics, campaign, and automation reports with its advanced reporting features.
- Capture and convert new subscribers with its customizable, TCPA & GDPR-compliant forms.
What You May Not Like:
- Requires you to input data from scratch every time you launch a social media campaign.
- Does not communicate well with its users about its updates, which can cause confusion.
Price: Starts at $16/month.
dotmailer (now dotdigital) – Best for Advanced Segmentation
dotmailer is a tool that helps you create advanced email campaigns for your Magento store. The tool allows you to segment your customers based on their data, behavior, and engagement and send them targeted and relevant messages.
It also helps you design and customize your emails with a drag-and-drop editor, templates, and dynamic content.
A standout feature of this device is that it helps you automate your email campaigns based on triggers, such as welcome emails, birthday emails, re-engagement emails, and more. It even integrates with other marketing channels, such as SMS, social media, and the web, to help you create a seamless customer journey.
What You Will Like:
- Robust automation capabilities to allow users to create sophisticated and personalized automated email campaigns.
- Drag-and-drop email builder to design professional-looking emails without any coding knowledge.
- Detailed reports on your campaigns, including open rates, click-through rates, bounce rates, and unsubscribes.
- A/B test different subject lines, email content, and calls to action to see what resonates best with your audience.
- Has a strong reputation for deliverability, which means your emails are more likely to land in your subscribers’ inboxes.
What You May Not Like:
- Does not support the creation of complex landing pages.
- Doesn’t offer as much customization as some other competitive platforms.
Price: Starts at $150/month.
Read Also: Best Cart Abandonment Software for Generating Higher Revenue in 2024
Ready to Reduce Abandoned Carts on Magento?
While Magento is one of the favorites among e-commerce CMSs, one of the things that business owners dread the most is abandoned carts. However, if you use effective strategies, abandoned cart recovery for Magento stores can be facilitated, and you can reduce your losses to get better returns.
Besides, when you employ smart tools such as Picreel, you can track abandoned carts, use timely popups before customers leave the page, send reminder emails, and ensure better customer service. This sounds like an overall win-win for the business owners.
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