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Kefta Reports Major Findings On Online Order Abandonment
Kefta Inc., a provider of online revenue acceleration solutions, announced Monday the results of its extensive twelve month shopping cart/financial applications abandonment study. The results were culled from online surveys offered on several of their clients’ websites. These clients were in the e-commerce and financial sectors, each with a significant online presence.
"The objective of the study was to better understand the extent and underlying reasons of online order abandonment to help online marketers better serve their customers," said Philippe Suchet, CEO of Kefta.
The survey results can be summarized in four key findings:
"The objective of the study was to better understand the extent and underlying reasons of online order abandonment to help online marketers better serve their customers," said Philippe Suchet, CEO of Kefta.
The survey results can be summarized in four key findings:
- Online order abandonment remains a key issue for marketers.
Between 50% and 90% of prospects who start an order (shopping cart or financial application) leave the website before completing it.
Most prospects that do not complete the order do have an interest in becoming customers. At least two-thirds of the prospects surveyed said that they are serious about making a purchase.
Usability is not the primary source of abandonment. Less than 10% of prospects left the site because the ordering process was too complicated.
There are usually 4-5 major reasons why people are dropping. The major reason is never mentioned by more than 25% of the people dropping. The most often mentioned reasons for abandonment are: not a good time, price, uncomfortable buying online, need more information or help. "By leveraging our best practices and our unique technology, our customers have been able to better understand the issues related to order abandonment and to fully address them. They gained the ability to track online behavior and to automatically trigger appropriate actions whenever the user steps out of the process, such as online incentives or well-timed emails or phone follow-ups,” said Suchet. "Understanding online drop off issues and automatically re-engaging prospects have consistently led our clients to significantly increase their sales."
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