Online sales are taking over. From 2002 to 2011, annual ecommerce spending went from 72 billion to over 256 billion, according to comScore Internet Marketing Research Company. This surge in online consumer activity has brought about millions of virtual stores and some stiff competition amongst retailers. Because of this, online business owners need to make sure they’re doing what they can to attract customers and guide them through to a satisfactory sale completion… and avoid the issue of abandoned shopping carts.
There is so much work that goes into making a successful online business. First, you have to put time and money into building an attractive storefront. Then you work on getting healthy traffic flow and marketing your products in an appealing way. Once these tasks have been completed, nobody wants to have a sale dropped in the final step of checking out! It’s terrible to see potential revenue sitting in an abandoned cart.
How can you avoid this? Well first, let’s look at what causes it.
What can cause shopping cart abandonment?
There are a number of factors that leave a cart abandoned but here are some of the leading reasons.
The cost of shipping is too high.
The shopping cart check-out process is too long or complicated.
The online store doesn’t seem trustworthy.
The customer simply gets distracted or changes their mind.
Consumer decisions are made around these factors and in the end, you’re left with an uncompleted sale and lost revenue. Shopping cart abandonment is a serious problem. Depending on whose study you’re reading, it’s reported that anywhere from 30% to 75% of online sales are dropped with items in the cart, before the sale is complete.
How can we combat cart abandonment?
Snip Shipping Costs: There are several things you can do to cut down on carts being dropped due to shipping costs. Most simply, you could offer an across-the-board lower shipping cost. If shipping costs seem fair and are closer to what the customer would expect to pay if they were shipping the product on their own, the sale is less likely to be dropped. If that isn’t a route you want to take, offer incentives such as free or discounted shipping with orders of more than say… $50. With a multi-store pickup module users can choose where they’d like to pick up their order or using a GEO lookup module, customers can search the closest store to their postal code. Promotions like this help take your customer to sale completion and boost the total amount of a sale. The important thing here is to figure out which shipping model works best for your company. Options include free shipping, store pickup, shipping by weight/price/item or flat rate shipping.
Un-Complicate the Check-out: To avoid confusion or distraction due to a long or complicated check-out, simplify your process! This is an incredibly important step in cart retention. The check-out process should have as few steps as possible and even offer 1-click check-out in certain situations, such as for returning customers. This means your store should not require registration to complete a purchase, should not ask questions that take a lot of time or are too personal, and should take all possible credit cards.
Address Anxiety Over Site Security: Security is a big concern for many consumers and as an ecommerce merchant, it’s your personal responsibility to keep the customer safe and make them feel comfortable giving you their credit card and personal information over the computer. PCI-compliance is the first step to making sure you’re e-store is protected but in such a competitive market, it’s best to go the extra mile and make sure you’re using one of the few shopping carts that go the extra mile with online security and are PA-DSS compliant. Using a tokenization payment module can help make your customers feel safe by keeping your customers on site without the risks associated with storing credit card data. Because everything is secured offsite, merchants can minimize the need for repeat data entry the next time a customer shops at their store. Once you’ve protected your customers, tell them! Let them know you’ve taken care of them with a verification seal on your home page and at the beginning of their check-out process.
Bring Back Distracted Consumers: There’s a chance your customers are simply getting distracted or changing their minds before they complete a sale. To reduce the chance of this happening, think about what may be causing it to happen. Do you have streamlined, user-friendly navigation to the shopping cart? Is the buying and shopping cart easy to edit and understand? If these types of questions check-out and you’re still looking at lost income from abandoned carts, reach out to your potential customer with emails that offer incentives and discounts to pull them back into the buy. Some shopping carts have this type of feature included in their set-up, which makes it an extremely easy and powerful way to stop shopping cart abandonment. Loyalty points are a great incentive for customers, and using a module like Sweet Tooth, your customers will earn points for purchasing products from your site that can be used for future purchases. This builds brand loyalty and repeat business that can make a huge difference to your sales volume.
After managing your site with the above steps, you will see an increase in cart completion and customer retention. Dealing with these factors can help any ecommerce business owner turn ‘window shoppers’ into buyers and bring back customers that have abandoned their cart.
I thought I would write a short blog post on how you can get a Canada Post Merchant ID so you can setup your online e-commerce shopping cart. Since I did not find the process to easy, after getting transferred back and forth for an hour and jumping through hoops I finally managed to get my merchant ID.
You will need a Canada Post Merchant ID Number for your Magento shopping cart module. The Canada Post Module is used for online stores to calculate shipping costs in Canada with Canada Post’s services.
The service is completely free.
Step 1: Setup a small business account
Call Canada Post’s Venture One Small Business Department:
Ask to setup a small business account. They will give you an Account/User ID#, be sure to write this down. A business account also gives you better rates on shipping so your business can save some money.
Step 2: Visit Canada Post’s business website:
Select the top option “My business has an existing relationship with Canada Post” Once there Create a User Name, Enter your Account # that you got in Step 1 and then create a password.
Step 3: Request a Merchant ID Number for online shopping cart
Call Canada Post’s Sell Online Help Desk:
(Prompts: 1 for English, Enter Account Number followed by the # key, Dial 2/option two, follow prompt to talk with an operator)
Mention you are calling to setup a Sell Online Account so you can receive a Merchant ID# which you need for the online shopping cart module/plugin.
That’s it, I hope I saved you some time, if you need any help or questions/comments please leave a comment below!
Magento is an open source eCommerce platform which offers long range of features to the users. Today every merchant wants to migrate his/her online store to Magento. Magento offers many options along with one page checkout.
10 resons why Magento is a better ecommerce software?
There are many ecommerce platforms which are FREE such as OS Commerce, Zen Cart, Prestashop, Opencart, Ubercart, VirtueMart, Batavi. However Magento is the best option in today’s time which provides you Good Website Design alongwith the feature of SEO Friendliness.
2. Multi Store Capability
Magento offers Multi Store Capability i.e. it allows you to run more than one store. So even if you currently have 2, 5 or 20 stores, they can be managed from the same admin panel. So in this way you can manage orders and customers at one place without switching to any other website. This makes it easier for you to manage things easily. This is one the major reason for choosing Magento over other ecommerce softwares.
3. SEO Friendliness
Search engine friendliness is Magento’s core feature. This feature of Magento allows you various option such as SEO friendly Rewrites, auto generated sitemaps (both HTML & XML). These options help in getting good search engine rankings and improve website visibility.
4. Guest Check Out
With Magento, you will get guest checkout alternative. In this alternative, you can apart yourself from the crowd. In many online stores, the customer must sign before buying, but this method can save time and also help in retaining customers who may not like to register at first. This feature also improves conversion rates.
5. Integrated sales and store tracking
Magento gives an option of Integrated sales and store tracking. You can manage all your sales & customers from single page which result in saving of time.
6. No limits on number of product or purchases
There is no limit as far as number of products are concerned. You can upload “N” number of products.
The Catalog is excellent and have facilities which none other shopping cart has in the market.
8. Product Categorization
Magento has features which enables to hold 1000s of product categorized by there classes and categories without making the shopping cart slow.
9. Payment Gateway Integration
Magento gives easy integration of payment gateways.
10. Integrated Google analytics
Magento offers Google analytics integration
If you are interested in looking further into Magento, feel free to contact us!
We have come up with FREE Magento 1.6 Extensions which are very useful for your Magento Store.
Following are the FREE Magento 1.6 Extensions for you:
1. Magento Blog Extension
This Blog Extension for Magento will provide your regular customers with up-to-date information and will help in bringing additional visitors to your site, builds relevant SEO-friendly text links, and serves as assistance in building sales strategy.
Extension by: ecommerce.aheadworks.com
2. Facebook Connect Magento Extension
Facebook Connect Magento extension helps your customers to register in just one click and login with their Facebook account. New users can automatically registers and existing ones can automatically login.
This Facebook Connect Magento extension is compatible with latest Magento CE 1.6 along with older 1.5, 1.4 and 1.3.2.x versions.
3. Magento Live Chat
With LiveChat Magento extension, you can implement Live Chat on your online store in a few minutes. Live Chat is very important for any ecommerce store. This can help you in increasing conversion rate.
Now monitor your website visitors, talk to them in real-time and provide better support.
Extension by: livechatinc.com
4. Fooman Google Analytics Magento Extension
This extension helps you in configuring Google Analytics account with your online store. It tracks each individual pages of your website and also tracks the keywords that your visitors typed to access your website.
5. Canonical URL’s for Magento
Canonical URL’s are the search engine friendly URLs that you want the search engines to treat as authoritative. This Magento extension adds the new canonical links to the head of your Magento pages. This version is compatible with Magento 1.4 only.
Extension by: Yoast.com
6. Tell A Friend Magento Extension:
Tell a friend module is used to tell a friend about the site.
Extension By: magepsycho.com
7. Magento-WordPress Integration Extension
Now integrate wordpress with Magento. You can easily add your wordpress Blog with Magento Store.
Compatible with: 1.3, 1.4, 188.8.131.52, 1.4.2, 1.5, 1.6, 1.6.1
Extension By: fishpig.co.uk
8. Zizio Social Deals
Launch your social deals, campaigns and successfully promote and close them, using social networks.
Compatible with: 1.3, 1.4, 184.108.40.206, 1.4.2, 1.5, 1.6, 1.6.1
Extension By: zizio.com
9. GooglePlus Extension for Magento
This Magento extension adds Google +1 (Google Plus One) support to your Magento store. This Google-feature (similar like “Facebook Like” feature) can be added to all your Magento catalog-pages.
Extension by: yireo.com
Comment below with what type of extension you’d like to see!
Good things come to those who wait… The Magento JS Promo Slider module is available for download!
JS Promo Slider Magento Extension
We have been hard at work creating a nice little Magneto extension that is sure to brighten up even the most boring website.
This little Magento gem allows you to scroll or slide your images across the screen in a sleek fashion!
This lightweight module also comes with a host of easy to configure options to allow you to really customize the functionality and behaviour of the slider.
Want to see it in action?
Modules features include:
- Out of box install
- Options to customize the behaviour
- Add links to your slides
- Allows for mulitple sliders to be used on the same page
- Fully compatible with IE7, Safari 2, Firefox 1.5+ (mac +win), Opera
Good things come to those who wait… The JS Promo Slider module will be available for download for only $50.00!
A new release of the Magento Cybersource Tokenization Payment Module addresses two important priorities for merchants – a wider customer base and secure transactions. We provide merchants with a number of Magento extensions that help them better manage their online business and greater ability to effectively reach a wider customer base. As always, we strive to develop modules that improve the consumer experience and help increase conversion rates for merchants. This new release also includes features that make it easier for consumers to shop with ease!
Security breaches are on the rise but you can avoid becoming a statistic by removing payment data from your environment using CyberSource’s hosted payment acceptance and payment tokenization services. Eliminating payment data from your network is the only way to ensure that your customer’s sensitive personal information isn’t compromised during a security breach.
How It Works
To make a purchase on your website, the customer will enter their payment card information into the designated payment fields on the order page. These payment fields will be hosted by CyberSource using Hosted Payment Acceptance. When the customer hits the ‘submit’ button, the data is immediately encrypted and transmitted directly to CyberSource for storing, processing, and token generation. The payment data never enters your environment. With Tokenization, a signed in user will be able to select their stored credit card as an option.