Visitors filling up their carts before abandoning them is a constant source of frustration for ecommerce retailers.ÌýReducing cart abandonment is often at the top of to-do lists.
The way we both see and deal with this challenge needs a rethink.
Not all visitors reaching the checkout stage have the same intent or are in the same stage of their buying journey.
Data shows that intent at checkout varies, and therefore nuanced strategies are required to truly understand and address this persistent problem.
Key Takeaways
Focusing on Intent to Combat Cart Abandonment
- Data shows varied intent at checkout.ÌýOur LLM data validates distinct differences in intent at the checkout stage.
- Higher intent equals higher purchase likelihood.ÌýVisitors with stronger purchase intent are more likely to complete their transactions.
- Tailoring treatment based on intent.ÌýDifferent intent levels require different approaches to maximise conversion rates.
- Checkout visitors differ from browsers.ÌýVisitors at checkout are not the same as those just browsing; treating them differently is crucial.
- Reconsidering the traditional checkout mindset.ÌýEvidence from our LLM suggests that people buy in stages and should be treated based on their intent throughout the buying journey.
So, let’s dive in–starting with the big question…
Abandon The Old Way?
Should Ecommerce Ditch the Traditional Checkout Mindset?
We're all familiar with the traditional checkout funnel:
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Conversion rate optimisation specialists have spent years showing that navigation complexity, weak CTAs, slow page loads, ambiguous pricing, insufficient product information, site security, and cumbersome checkout processes all contribute to cart abandonment.
Yet it's easy to overlook a critical factor:Ìýintent.
Intent is Everything
Traditional approaches have treated every visitor at checkout as if they are the same.
Some are ready and willing to buy, while others are still browsing or wrestling with indecision. Missing these differences means missing out on potential sales.
Sophisticated data models now give us more precise insights into visitor behaviour.
The conventional checkout mindset is outdated.ÌýOur data-driven insights reveal that buying is a process occurring in stages, not on product pages.
Visitors at checkout can range from curious to committed. Recognising and acting on these differences is essential.
High Intent = High Conversion & Lower Likelihood of Cart Abandonment
Visitors with a strong intent to purchase are focused shoppers. Even though they may move items in and out of the cart, they are progressing steadily towards conversion with a low likelihood of abandoning.
Conversely, low-intent visitors often abandon their carts.
Treating both groups the same means irritation for those with high-intent (and often unnecessary discounting), and ineffective messaging for those with low-intent.
High-intent visitors crave a seamless, swift checkout process. Low-intent visitors might need a nudge—a well-timed discount or additional information could tip the scales.
In-Session Strategies
Maximising Conversion Through Intent Recognition
Take a look at the graph below. It shows visitors ranked by their likelihood to buy, from lowest (red) to highest (green), and how well they actually convert (CVR).
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Our data reveals a clear distinction: from cautious 'considerers' (red) to decisive 'buy-now' enthusiasts (green).
High-intent shoppers boast an impressive 77% conversion rate, while low-intent browsers lag behind at 63%.
Intent is a critical factor to conversion.
It’s not just about items in a cart; understanding intent helps us tailor our approach—guiding the unsure and facilitating seamless transactions for the ready-to-buy.
Browsers vs. Buyers
Tackling Cart Abandonment: The Spectrum of Intent in Segments
There's a nuanced spectrum underlying audience segments and their varied intents.
Grouping your audience by states: focused, struggling, or abandoning; allows you to target each segment uniquely and intervene effectively, even during the checkout phase.
You can dig into the intent-based segmentation framework for a clear approach to optimise your ecommerce strategy, including tackling cart abandonment.
Actionable Tips
Implementing Intent-Driven Practices
- Segment Visitors by Intent:ÌýUse analytics to categorise visitors by behaviour and intent.
- Tailor Checkout Experience:ÌýCustomise the checkout for different intent levels.ÌýProvide extra assistance for low-intent visitors and streamline the process for high-intent visitors.
- Monitor and Adjust:ÌýKeep an eye on your checkout performance and tweak based on intent data.
Tools and Resources
Enhancing Execution with Precision
- CRM Systems:ÌýIntegrate with intent data to personalise visitor experiences.
- Heatmap Tools:ÌýTools like Hotjar can help you understand visitor interactions on the checkout page.
Conclusion
Leveraging Intent for Ecommerce Success
Understanding and acting upon intent isn’t just beneficial—it’s essential for driving conversions.
By adopting an intent-based approach, ecommerce retailers can enhance customer satisfaction and achieve sustainable growth.Ìý
So, harness your data insights, personalise the shopping experience, witness fewer abandoned carts and watch your checkout process prevail.
