Abandonment rates are related to bounce rates but indicate a level of commitment on behalf of the consumer. As an example, shopping cart abandonment occurs when a user is almost to the end of completing a transaction but instead abandons the cart at the very last step. It doesn’t have to refer to shopping cart abandonment, however. It can also refer to situations such as a user getting to the last step of a quote form or contact form then failing to submit.
Abandonment rates are very useful for showing a company why a customer is failing to convert. Many customers will abandon a shopping cart because of last minute price additions, such as high shipping rates or taxes. Others may get frustrated by a lengthy checkout process or may look for (and find) a better deal elsewhere online. A customer may almost get to the end of a quote form and then decide they don’t want to wait — or they might realize that the quote form will not give them an automatic quote but instead call them at a later date.
Once a company is aware of their abandonment rates, they can begin reducing them. Remarketing and retargeting are two related methods by which companies will target users who have engaged with their website in the past.
Common Methods of Reducing Abandonment
- Streamlining a process so that it is faster and easier.
- Being transparent about pricing from the beginning.
- Avoiding registration processes or extraneous steps.
- bounce rates