shopping cart optimization for ecommerce web sites

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SHOPPING CART OPTIMIZATION August 25, 2009 SHOPPING CART OPTIMIZATION k f d Guest Speaker from Red Door Interactive Charles Wiedenhoft, Director of Business Planning & Optimization

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Page 1: Shopping Cart Optimization for eCommerce Web Sites

SHOPPING CART OPTIMIZATIONAugust 25, 2009

SHOPPING CART OPTIMIZATION

k f dGuest Speaker from Red Door InteractiveCharles Wiedenhoft, Director of Business Planning & Optimization

Page 2: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Introduction Abandonment trends

Reducing abandonmentReducing abandonment

Data‐driven strategy

Q&A Q&A

7/21/2012 ©2009 Red Door Interactive 5

Page 3: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Abandonment trends

68

70

Shopping Cart Abandonment % -3.1%Projected retail

62

64

66

68 Projected retail e‐commerce sales decline in 2009.eMarketer: Retail E‐Commerce Continues Slow Slide

56

58

60

Apr  May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

Slow Slide http://bit.ly/AXISR  Twitter: @eMarketer

Coremetrics 2nd Annual Online Retail Holiday Optimization Guide

p y g p

Current Year Previous Year

7/21/2012 ©2009 Red Door Interactive6

Coremetrics 2nd Annual Online Retail Holiday Optimization Guide http://bit.ly/ut9aS  |  @coremetrics

Page 4: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Breaking it downg

High shipping charges

Reasons for Cart Abandonment $109 The average cost f b d d

Couldn't find preferred pay optionWanted to shop offline

Wanted to look for a couponLack of money

Wanted to comparison shop of abandoned goods.PayPal Checkout Abandonment Studyhttp://bit.ly/LS50e   |  Twitter @PayPal

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Concerned about security of credit card dataCouldn't find customer support

Item was unavailable at checkoutp p y p

79%Retailers who 

PayPal Checkout Abandonment Studyhttp://bit.ly/LS50e   |  Twitter @PayPal

identified cart and checkout as a top priority.Shop.org ‐ The State Of Retailing Online 

7/21/2012 ©2009 Red Door Interactive 7

p g g2009: Merchandising Report http://bit.ly/1Abr13  Twitter @shoporg

Page 5: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Appeal to discount shoppers Keep coupon hunters in 

the funnel‐ Decrease visual 

prominence of theprominence of the promotional code field

‐ Display field dynamically based on referring URL

‐ Offer a universal discount and display code on all pages

‐ Encourage email opt‐in for immediate discount

27% 7/21/2012 ©2009 Red Door Interactive 8

27% Shoppers who reported leaving a cart to find a coupon.PayPal Checkout Abandonment Study  |   http://bit.ly/LS50e   |  Twitter @PayPal

Page 6: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Appeal to discount shoppers Highlight savings from 

clearance items and instant web discounts ‐ Carry‐through symbols 

and messaging from product pages

‐ Show original and marked d idown price

‐ Show total amount saved

‐ Show total % savings

7/21/2012 ©2009 Red Door Interactive 9

Page 7: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Avoid surprise chargesR l hi i h Reveal shipping charges and tax on the shopping cart page‐ Offer a choice of shipping‐ Offer a choice of shipping 

methods 

‐ Auto‐select the least expensive option

‐ Include a shipping and/or tax calculator

‐ Simplify shipping formulas

46% 7/21/2012 ©2009 Red Door Interactive 10

46% Shoppers who reported leaving a cart because of high shipping charges.PayPal Checkout Abandonment Study  |   http://bit.ly/LS50e   |  Twitter @PayPal

Page 8: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Avoid surprise chargesR l hi i h Reveal shipping charges before the cart‐ Provide a perpetual 

shopping cartpp g

‐ Display shipping charges on product detail pages

7/21/2012 ©2009 Red Door Interactive 11

Page 9: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Offer alternate payment methods Extend credit at the 

point of purchase

Enable consumers without credit cards to purchase from your site

31% 7/21/2012 ©2009 Red Door Interactive 12

31% Estimated online dollar volume from alternate payments methods in 2012.Javelin Strategy and Research  |  http://bit.ly/o76su  | Twitter  @JavelinStrategy

Page 10: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Build confidence and trust Show “trustmarks” with 

increasing prominence through cart and checkout processprocess‐ Call number and live chat

‐ Security badges

Guarantees and policies‐ Guarantees and policies

‐ Awards and endorsements

‐ Customer testimonials

C lt d l‐ Company culture and value

Answer common questions

21% 7/21/2012 ©2009 Red Door Interactive 13

21% Shoppers who reported leaving a cart because of security concerns.PayPal Checkout Abandonment Study  |   http://bit.ly/LS50e   | Twitter  @PayPal

Page 11: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Show clear path to completion Encourage shoppers to 

take action‐ Tell shoppers what to do 

with inductive messagingwith inductive messaging

‐ Show how many steps are in the checkout process

‐ Differentiate primary and secondary actions

‐ Remove actions with potential to cause irrecoverable errors

7/21/2012 ©2009 Red Door Interactive 14

Page 12: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Data-driven strategy Benchmark and monitor KPIs

‐ Cart and order sessions42%Online retailers‐ Average order value (AOV)

‐ Visitor engagement

Isolate problem areas

Online retailers who know their shopping cart abandonment 

l‐ Shopping cart page exit links‐ Form field abandonment ‐ Checkout funnel retention

rates exactly.MarketingSherpa 2009 Ecommerce Benchmark Reporthttp://bit.ly/E4I7L Twitter @MarketingSherpa

Expand focus‐ Attitudinal and competitive data analysis‐ A/B and multivariate testing

7/21/2012 ©2009 Red Door Interactive 15

/ g

Page 13: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Q tiQuestions

7/21/2012 ©2009 Red Door Interactive 16

Page 14: Shopping Cart Optimization for eCommerce Web Sites

Shopping Cart Optimization

Don’t Miss Our Next Webinar! Brand Monitoring in Social Media ‐ Presented by Tony Felice, 

Developer & Strategist

Tuesday, September 22

http://reddoorbuzz.com/20twenty/

Connect with us: Blog ‐ http://reddoorbuzz.com/

Twitter – http://www.twitter.com/reddoor

7/21/2012 ©2009 Red Door Interactive 17

Newsletter ‐ http://www.reddoor.biz/contact/emailsignup/