Abandonments are customers who open the specific website, start signing up or making a purchase, but then, by some reason, leave the online shop without finishing checkout and buying anything. The reasons for such a behavior can be different and understanding these reasons is the key to reduce number of abandonments.
Except for abandonment definition, it is also recommended to understand what the abandonment rate is. This value shows how many visitors left the site without purchasing anything in comparison to the overall customer Initiation. For example, if 1,000 people started the buying or signup process but left it, and the overall customer initiation is 5,000 people, the rate will be 20%.
The goal of a marketplace is to solve abandonment issues and reduce the number of users who left the site during checkout. It can be done by making the checkout less complicated, improving payment options, fixing bugs if there are any defects in website behavior, and making signup and checkout process easy. Online customers also become abandonments when they have issues with privacy or security and change their mind.
What should be done to reduce this rate for a specific website:
- Calculating the abandonment rate every day, analyzing its changes.
- Analyzing the usability of the website.
- Constantly getting feedback from customers.
- Comparison with the competitive and other websites that have a smaller abandonment rate.
- Eliminating things that turn website customers into abandonments.