If you could eliminate 45% of your abandoned carts by making one simple change, would you do it?
It depends. If the “one simple change” is a cheap, pop-up gimmick, scamming your customers or breaking your competition’s legs, probably not. But what if it’s as simple as finding better hosting?
Statista conducted a study to determine the top reasons why customers abandon their carts, and according to their findings:
- 24% of shoppers abandon their carts because the website crashed
- 21% of shoppers abandon their carts because it took too long to checkout
That means unreliable hosting is causing 45% of your abandoned carts. With estimates that shoppers abandon 67% of all carts, low performance hosting could be costing you over 30% of your business.
Let’s put this in perspective real quick. Say your store makes $20,000/month. If you were able to capture even just half of those abandoned carts, you’d see around $38,000 in extra income that year. The conclusion is clear: High quality hosting can drastically reduce your abandoned carts, making your store even more profitable. There are several reasons why, but here are two of the major ones:
1. Customers are quick to judge. Really quick.
We live in an on-demand society. With so many things vying for our focus, our attention spans are shorter than ever. If your site takes longer than three seconds to load, 57% of your shoppers will bounce, 80% of them never to return. To say that today’s customers’ lack the load time tolerance of their dial-up predecessors is an understatement. Once you miss that three-second window, you’ve missed those customers. Period.
2. Shoppers need to feel safe
Fraud on the internet is on the rise. Javelin’s 2014 Identity Fraud Report found that 13.1 million consumers’ identities and funds were compromised in 2013, a 50,000-person increase since 2012. Knowing all this, how do you think a slow-loading site makes customers feel? Personally, I get a little uncomfortable if it takes an online store a long time to load, especially if I’m trying to check out. And if your site crashes? Well, you can kiss your new customers goodbye.
So stop leaving money on the table. Make sure you have the most reliable hosting for your online store. It’ll benefit you, it’ll benefit your customers and as you’ve seen, it’ll benefit your business. If you’re interested in seeing how Codero Hosting stacks up, chat with one of our hosting experts today.