Social Network Authentication
Social sign in via Facebook, Google+, and Twitter is common but Internet Retailers seem hesitant to initiate quick click registration for users. Music and social networking sites use this quick click registration, but E-commerce and M-commerce retailers seem hesitant to adopt although this strategy can help decrease abandonment. Not everyone wants to sign onto a site with Facebook, but everyone yearns for less hassle, real benefits, and ultimately fewer username/passwords to recall. Removing every potential stumbling block from sign in to sale is every Internet Retailer’s Holy Grail.
Not for every Internet Retailer, but a concept worthy of hacking an Apple iGenius to have implemented first: an inconspicuous-enough (but not too much) chat button that appears opposite the Continue button—on Apple’s one-page checkout. Simplicity creates a consumer-friendly environment, and immediate customer service makes it concierge service.
Capturing an email at the onset is crucial to abandoned shopping cart email campaigns. The conversion rates are significant, rates fluctuate, but in a recent study Trigger Messaging analyzed Q3 client cart abandonment statistics revealing that recovery of 14.8% in cart-recovery email click through. The purchase rate following click-through for the 61.48% of abandoned carts was 30.98%.
But how to overcome the Fear Factor privacy issues that prevent browsers from upping email information immediately (ala Amazon.com) when they haven’t ‘bought’ into buying yet? Moo.com approaches the request for shopper email casually and with a sense of whimsy. They also offer free shipping for first-time registration (standard offer is free shipping for orders over $40.oo). The perceived value of free shipping quickly negates privacy and time issues for most online shoppers since it is high on the list of Reasons for Abandoning Shopping Cart. Shipping derailed purchase commitment in 38% of cart abandonments [Source: ComScore.com] Moo.com also cues the shopper immediately to an email they will be receiving containing their free delivery code.
Personal Shopping Assistant Application
Whether choosing dog food or cameras, make up or televisions, consumers can be overwhelmed by the choices offered and make indiscriminant decisions or worse—procrastinate the purchase. Choice overload is a monumental issue for online shoppers: the typical grocery store has 45,000 products; the average Walmart stocks 100,000 products [Source: Sheena Iyengar, PhD The Art of Choosing]; however, on Overstock.com, an online closeout retailer that offers brand-name merchandise in all categories, their book-DVD-CD offering alone boasts 720,000 titles.
How do e-commerce and m-commerce retailers help shoppers manage Choice Overload? One way is to manage the vastness of offering. More is better when browsing, but less is better in nailing down the final online sale. In a study conducted by Sheena Iyengar, Research Director Jerome A. Chazen Institute of International Business; and S.T. Lee Professor of Business, Columbia Business School: More people stopped to look at a display when there were 24 choices versus six, but they were more likely to buy when there were fewer items on display to choose from—30% bought from the display with six choices versus 3% from the display of 24.
What if all the inventory choices are necessary (Netflix, Blockbuster.com)? Or what if the product is highly technical? Personal Shopping Assistant Applications are a logical and economical solution. Sure you can recapture cart abandonment by email a lot of the time—but preventing it in the first place is ideal. PSAAs can do that.
In the same study, Iyengar found that choice overload results in consumers making: First, worse decisions (decision quality); second, making choices even when it went against their best interest to make a choice (engagement); and third, the tendency to choose something that leaves them less satisfied even when they are objectively better off (satisfaction).
The last point is a result of our minds incapacity to compare and contrast dozens of offerings. Personal Shopping Assistant Applications neutralize the chance of a dissatisfying choice by leading the consumer quickly and strategically through the choices, building their confidence in the decision and their subsequent follow-through of the sale then and there. PSAAs are also capable of boosting engagement; again, because of the confidence they now have in their choice. Ultimately, the sales are the final proof.