Abandoned Shopping Carts and Sales Conversion

Abandoned Shopping Carts and Sales Conversion

Tracking sales conversion and head problems off at the pass.

One of the key objectives when selling online is increasing and maintaining a high conversion rate. This is second only to driving traffic to your site. Why? Because once the traffic is there, you want to convert it to sales. This converting traffic to sales is called a conversion rate.

The average conversion rate for a store is 2%. This can vary greatly depending on your industry and cost points but it’s a good number for most online sellers. To get this rate, you take the number of sales over a certain period and divide it by the amount of site visitors over this same time period. The higher the percentage the better.

Some hosted shipping cart solutions allow you track abandoned shopping carts. If a customer places something in a cart and bails, it leaves a record for you to see what was placed in the cart and at what point the customer decided to leave. Using a tool like this is great way to spot issues with your store, checkout process and cart solution. If you suddenly see a large spike in abandoned cart at a particular point of the checkout process, you can investigate the issue and take action. You can also use this tool to track conversion and the results are more useful than an overall conversion rate. This is because you are tracking the conversion of willing customers rather that overall site visitors. You can track how people that are interest in your types of products react to your store, shipping prices, etc. Powerful stuff.

Not all shopping cart solution offer abandoned cart tracking. MonsterCommerce and 3DCart both offer it. Volusion currently does not.

Running an online store is a chain of constant tweaking. Carefully watching your conversion rate will highlight places that need to be tweaked. Watch it closely, tweak and hopefully your conversion rate can increase.

For more information on increasing your store’s sales conversion rates, check out this thread in our merchant forums:

Key Factors in Sales Conversion