According to Wikipedia, “In marketing, abandonment rate is a term associated with the use of virtual shopping carts. Also known as shopping cart abandonment. Although shoppers in brick and mortar stores rarely abandon their carts, abandonment of virtual shopping carts is quite common. Marketers can count how many of the shopping carts used in a specified period result in completed sales versus how many are abandoned. The abandonment rate is the ratio of the number of abandoned shopping carts to the number of initiated transactions or to the number of completed transactions.”
What is Cart Abandonment, article by Graham Charlton sheds light on the rate of abandonment based on industries and also what can be done to reduce the overall abandonment with ideas such as designing of concise, beautiful forms.
(i) Addressing cart abandonment with OptinMonster
Our belief is that abandonment rate should not be just restricted to the rate associated with virtual shopping carts but definitely include form abandonment, especially if such forms are related with direct revenue generation endeavors such as the below Application Form that takes the credentials of candidates willing to enroll before accepting the payment through offline means.
Though training is not covered in the above study, our own maintained computer training website www.mankaryouthcom has form abandonment close to zero. This may be because of only those who are local candidates willing to enroll for the courses initiate the process of filling the application form that is designed using WPForms, a software tool for making beautiful, feature-rich forms. Not surprisingly, WPForms comes with Form Abandonment Addon which is a proxy to OptinMonster’s cart abandonment features.
(2) Addressing form abandonment with WPForms
For publishers who usually include affiliate links, cart abandonment may not be an issue as clicks are redirected to third-party websites where sales if any are made. OptinMonster can help such publishers with its features like Content Lock that ‘lets you block part of your content and make it available to subscribers only, encouraging more email signups and attracting high-quality leads.’ Also important for all website owners including publishers and online store owners is the ability to track data about the visitors. Google Analytics is the recommended analytics software and for integrating the same with your WordPress website, MonsterInsights is the easy way.
(3) Keeping track on crucial website data including bounce rate with MonsterInsights
For online store owners, cart abandonment rate is crucial, for a website using forms, form abandonment is crucial, and for all websites bounce rate shows how many people are leaving your website immediately after visiting and a bounce rate close to 100 percent negates a large number of website traffic and page views recorded. MonsterInsights helps keep an eye on such data the easy way bypassing the complexities of the steep learning curve associated with using Google Analytics.