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The importance of online transaction management in your ecommerce site | Increasing conversions and avoiding abandonment

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The importance of online transaction management in your ecommerce site | Increasing conversions and avoiding abandonment

We have previously blogged about boosting online conversion rates through best practice in presenting your product catalogue in a user friendly manner.  We now focus on online transaction management, or in plain English how to make it easy as possible for your customers and prospects to order from you online.

According to a Forrester report, 88% of online buyers say that they have abandoned an online shopping cart without completing a transaction.  They cited the main drivers of this lack of online conversion:  Cost of shipping (44%), Unprepared to purchase (41%), Price-checking (27%), Price too high (25%), Wanted to save products for later (24%).  If retailers and distributors address these areas and make the online purchase experience easy and transparent, then online abandonment rates will decrease.

Whilst there are ways of “retargeting” to those prospects who have abandoned at the shopping cart stage, it is better to work towards best practice to avoid it from happening in the first place or at least reducing the likelihood.

How to reduce online cart abandonment

In a useful and practical article from econsultancy.com, Jack Simpson details 12 measures to reduce cart abandonment, some of these hints and tips such as a short checkout process, a persistent basket view, progress bars and a simple form view are all about convenience and ease of use.

Online transaction management includes the ability to allow your customers to store favourites, select from a preferred product list and view previous orders.  This helps quick online ordering, reduces errors and achieves high conversions.

How ebusiness suite provides online transaction management

Order management capabilities within the CMS of ebusiness suite from Prodware can help with this and because it integrates with your ERP solution, such as Microsoft Dynamics NAV; your customer preferences against all channels (online, trade counter, telesales and field sales) are all stored centrally.

Speak to Prodware about how ebusiness suite can help you create and design a functional and SEO-ready e-commerce site that links with your ERP, allowing you to better manage your inventory, pricing and promotions across multiple channels, supporting your customers and your sales team whilst achieving better sales and protecting your margins.

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