Boost your Transaction Success Rates Significantly with CCAvenue's Innovative Solutions
1st May, 2019
A lot of e-commerce businesses have dismal website statistics with regards to site bounce rates as well as transaction success rates. As a result, a large chunk of prospective customers decide to abandon the shopping cart without purchasing any product. Some of the most common reasons for a customer quitting the shopping cart are unwillingness to buy a product, issues with shipping, price comparison, lack of payment options, technical issues and so on. Globally more than 60% of the shopping carts are abandoned due to any of these reasons. Thanks to its rich domain expertise built over 18 years, CCAvenue offers secure and easy checkout options which are updated from time to time to make your customer less prone to cart abandonment.
Shopping Cart Abandonment
When a potential customer is in the middle of checking out from your shopping cart to complete his order, he suddenly cancels the decision and aborts the buying process. An abandoned shopping cart will always have some or the other item which was set for purchasing but the transaction was not completed due to various reasons. For online merchants, shopping cart abandonment can be an eye-grabber as its one of the most critical aspects that needs attention of the business owner.
Some of the most Common Causes for Shopping Cart Abandonment
1. Lack of adequate payment options
An online buyer would ideally prefer having the most convenient mode of payment available on the ecommerce web store.
2. Unaffordable Pricing
As customers get lured by competitors offering lower prices for the product, it is advisable to feature lower shipping costs along with discounted prices and offers that can hold back the customers from diverting to other websites.
3. Technical Issues
Regular reviews of the checkout and monitoring of analytics is required to minimize browser drops, internal server failures, connectivity and other technical issues that frequently occur when an online transaction process is attempted.
4. Trust Factor
Users need to have a greater level of trust while shopping online. Although thousands of users now shop using their credit/debit cards without any hesitation, there are still many who do not find this mode of payment comfortable. In such a scenario, the online merchant can include site reviews and testimonials, incorporate officially registered trust symbols, and display pictures of real people.
5. Complicated Checkout Process
An online merchant can simplify his checkout process and make it easier in order to prevent buyers from abandoning the checkout flow in the event of the checkout process being complex or time consuming.
Different Ways to Reduce Shopping Cart Abandonment Rate
Identifying the major reasons for cart abandonment is one of the initial steps that have to be taken for resolving this issue. To identify drop-off points an online merchant needs to first have a look at the analytics data and also conduct surveys or user research. Comparing the checkout with competitor websites can also be of great help in this direction. In many of the transactions, the online buyer simply drops out at the second page of the checkout process. In this case the most apt solution is to identify the loopholes in the checkout process and try to implement the fastest way of checkout for users to complete the payment process. The online business can also send an email to customers reminding them about the unfinished business of shopping or cart abandonment which might be of help to bring back the customer to continue with the transaction.
CCAvenue to the Rescue
Since shopping cart abandonment severely impact the long term business potential of its merchants, CCAvenue has developed a range of innovative features to safeguard and augment the businesses of online businesses in India.
1. Smart Dynamic Routing
In the event of downtimes, scheduled maintenance, load on bank servers, et., intelligent algorithms help detect drop in success rates and automatically route all transactions through another bank's gateway ensuring that the conversion statistics always remain on the higher end.
2. Retry Option
Sometimes the customer's transaction is aborted due to reasons like wrong card details entered, incorrect payment option selected, bank downtime, etc. With our smart Retry option, the entire tedious process of filling the payment details again is avoided as during a single session, the customer gets up to three attempts to use the same payment option or chooses an alternative payment option to complete the purchase.
3. Transaction Booster
In the event of downtime or fluctuation of any particular selected payment option, CCAvenue's transaction booster notifies customers with appropriate alerts on the payment page by allowing them to pay using another payment option. This helps maintain session integrity, boost transaction success rates and improves the customer experience.
4. Maximum Payment Options
CCAvenue allows your website to accept payments through a large bouquet of online payment options including all the major credit cards, debit cards, internet banking, e-wallets, bank EMI options, UPI, and IVR. Our payment gateway offers 200+ payment options to ensure that our merchants do not miss out on any business opportunities due to inadequacy of payment options.
5. Responsive Checkout
CCAvenue transaction pages are designed using responsive web design approach that automatically optimizes the page for any device, be it smart phone, tablets, desktops or laptops. A responsive web design enables easy reading and navigation, providing an optimal transaction experience for your customers on the go.
6. Card Storage
CCAvenue stores card data securely in an encrypted format such that it can be easily accessed by the customer during the checkout stage. This facilitates speedy and secure transactions, better customer retention and encourages repeat purchases.
7. Marketing Tools
CCAvenue offers a range of marketing tools that complement and enhance your marketing and sales efforts. You can create, manage and showcase your offers and promotions on your website to potential customers easily with these advance marketing tools.
Avail CCAvenue's smart features to prevent shopping cart abandonment, provide greater customer satisfaction, boost transaction success rates and enhance your revenue earning capacity substantially.
Shopping Cart Abandonment
When a potential customer is in the middle of checking out from your shopping cart to complete his order, he suddenly cancels the decision and aborts the buying process. An abandoned shopping cart will always have some or the other item which was set for purchasing but the transaction was not completed due to various reasons. For online merchants, shopping cart abandonment can be an eye-grabber as its one of the most critical aspects that needs attention of the business owner.
Some of the most Common Causes for Shopping Cart Abandonment
1. Lack of adequate payment options
An online buyer would ideally prefer having the most convenient mode of payment available on the ecommerce web store.
2. Unaffordable Pricing
As customers get lured by competitors offering lower prices for the product, it is advisable to feature lower shipping costs along with discounted prices and offers that can hold back the customers from diverting to other websites.
3. Technical Issues
Regular reviews of the checkout and monitoring of analytics is required to minimize browser drops, internal server failures, connectivity and other technical issues that frequently occur when an online transaction process is attempted.
4. Trust Factor
Users need to have a greater level of trust while shopping online. Although thousands of users now shop using their credit/debit cards without any hesitation, there are still many who do not find this mode of payment comfortable. In such a scenario, the online merchant can include site reviews and testimonials, incorporate officially registered trust symbols, and display pictures of real people.
5. Complicated Checkout Process
An online merchant can simplify his checkout process and make it easier in order to prevent buyers from abandoning the checkout flow in the event of the checkout process being complex or time consuming.
Different Ways to Reduce Shopping Cart Abandonment Rate
Identifying the major reasons for cart abandonment is one of the initial steps that have to be taken for resolving this issue. To identify drop-off points an online merchant needs to first have a look at the analytics data and also conduct surveys or user research. Comparing the checkout with competitor websites can also be of great help in this direction. In many of the transactions, the online buyer simply drops out at the second page of the checkout process. In this case the most apt solution is to identify the loopholes in the checkout process and try to implement the fastest way of checkout for users to complete the payment process. The online business can also send an email to customers reminding them about the unfinished business of shopping or cart abandonment which might be of help to bring back the customer to continue with the transaction.
CCAvenue to the Rescue
Since shopping cart abandonment severely impact the long term business potential of its merchants, CCAvenue has developed a range of innovative features to safeguard and augment the businesses of online businesses in India.
1. Smart Dynamic Routing
In the event of downtimes, scheduled maintenance, load on bank servers, et., intelligent algorithms help detect drop in success rates and automatically route all transactions through another bank's gateway ensuring that the conversion statistics always remain on the higher end.
2. Retry Option
Sometimes the customer's transaction is aborted due to reasons like wrong card details entered, incorrect payment option selected, bank downtime, etc. With our smart Retry option, the entire tedious process of filling the payment details again is avoided as during a single session, the customer gets up to three attempts to use the same payment option or chooses an alternative payment option to complete the purchase.
3. Transaction Booster
In the event of downtime or fluctuation of any particular selected payment option, CCAvenue's transaction booster notifies customers with appropriate alerts on the payment page by allowing them to pay using another payment option. This helps maintain session integrity, boost transaction success rates and improves the customer experience.
4. Maximum Payment Options
CCAvenue allows your website to accept payments through a large bouquet of online payment options including all the major credit cards, debit cards, internet banking, e-wallets, bank EMI options, UPI, and IVR. Our payment gateway offers 200+ payment options to ensure that our merchants do not miss out on any business opportunities due to inadequacy of payment options.
5. Responsive Checkout
CCAvenue transaction pages are designed using responsive web design approach that automatically optimizes the page for any device, be it smart phone, tablets, desktops or laptops. A responsive web design enables easy reading and navigation, providing an optimal transaction experience for your customers on the go.
6. Card Storage
CCAvenue stores card data securely in an encrypted format such that it can be easily accessed by the customer during the checkout stage. This facilitates speedy and secure transactions, better customer retention and encourages repeat purchases.
7. Marketing Tools
CCAvenue offers a range of marketing tools that complement and enhance your marketing and sales efforts. You can create, manage and showcase your offers and promotions on your website to potential customers easily with these advance marketing tools.
Avail CCAvenue's smart features to prevent shopping cart abandonment, provide greater customer satisfaction, boost transaction success rates and enhance your revenue earning capacity substantially.
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