In 2014, shopping cart abandonment rates exceeded 67%, prompting eCommerce businesses to explore social solutions to boost conversion rates. After using one or more of the tools below aimed at encouraging checkout, companies experienced a conversion rate that was more than five times their usual rate. Discover how these five tools can enhance your ROI.
1. A personalized shopping experience
Create an interactive shopping experience by recreating the feeling of shopping in store with friends for your customers. Add personalized product recommendations for your customers based on previous purchases or items saved in wishlists. Collect and utilize social data for smarter retargeting and personal touches like birthday promotions.
2. Showcase product reviews and ratings
More and more online consumers are comparison shopping before they check out. In order to make it easier for shoppers to trust your products, feature product ratings and reviews. In a recent study by Dimensional Research, 90% of consumers consult these reviews before making an informed decision.
3. Simplified checkout process
Fewer steps between a shopper wanting to buy something and checkout are better. Minimize the need for account creation forms by providing social logins. You can still gather customer data, along with valuable social information like verified emails, interests, and likes, without making it difficult for your shoppers.
4. Invest in top influencers
Implement rewards and incentivized loyalty programs to keep shoppers coming back to make more purchases more often. These top influencers also increase your social reach through shares and referrals. It is always easier to keep a current customer happy, than to invest in finding new ones.
5. Adding a second call to action
Sometimes, people are just not ready to buy. Instead of just having an abandoned shopping cart, suggest shoppers add their selected items to a social wishlist. This can be saved for later or shared with family and friends. Not only does this reduce shopping cart abandonment, it also increases your social reach.
Social is continuing to become a great solution for eCommerce. These 5 easy steps are just a snippet of how social can really influence eCommerce and boost ROI.