Have you ever visited a local store or a luxury boutique, looked at the item you want to buy, scanned the price tag under the supervision of a sales assistant just to apologize and say you will come back or buy it? Next day. However, he never came back and that left him with a feeling of guilt without connection to a salesman he would never see again.
Online shoppers do that all the time (except the guilty part) and have their reasons for that. They visit online stores, check the catalog to find trend products, read buyers' opinions and compare prices in different stores. For some successful retailers, this trip from an online buyer happily ends with a payment and some cash deducted from the buyer's account. However, the image is not always so optimistic.
According to the Baymard Institute's study on abandonment statistics for electronic commerce,the average car abandonment rate for 2018 was an impressive 75,6%. That means that more than half of e-commerce visitors never became buying customers leaving their shopping experience incomplete. Here is an infographic illustrating car abandonment rates for 2018 by industries, such as retail sales, fashion, travel, non-profit organizations and finance:
Source: SaleCycle Blog
Once you have established an e-commerce, you can assume that you have invested a good deal of time and money to create your online store, perform a lot of market research and optimize the search engines found on the front pages from Google. or Bing, hired some of the best digital marketing specialists to ensure that their products or services are selling in an incredible way. He is finally seeing the first fruits of his hard work in the form of a high rate of visitors. The last thing you can afford at this stage is to see visitors who have won your website empty-handed.
The reasons for such incomplete buying experiences are numerous: bad reviews from previously unsatisfied buyers, unjustified high prices, a complicated and unfriendly user interface, low quality products to name but a few. A recent quantitative study of the ease of payment made by Baymard Institute suggests that 58,6% of online buyers have not completed the payment process and say that they were only browsing and were not ready to buy. However, if we remove this segment from those who are just browsing, we obtain the following distribution for other reasons to abandon a cart:
Most of the reasons illustrated above involve major or minor problems with the payment process, most of which can be eliminated with some effort that is definitely worth it. Let's review a list of suggestions to help make the shopping process a pleasure for your customers.
1. Make it simple
"Simplicity is the ultimate sophistication," that's something that Leonardo da Vinci was convinced. And the good news is that it works in every sphere you can think of. Starting with your money is never a particularly enjoyable thing to do, so make sure your client follows the steps that are possible when paying for a product that has already landed in your cart. A good rule of thumb here is to make it so simple that your child or grandmother can make a purchase without too much trouble. Amazon, for example, has added the order button with one click to make the buying process very easy for its customers.
However, this simplicity has its dark sides. According to The Atlantic Amazon, more than $ 70 million had to be returned for in-app purchases made by children without the consent of their parents between November of 2011 and May of 2016.
2. Improve your forms
Let's say you have done your due diligence to get a prospective buyer to visit your online store. He or she has gone through a long and tiring process of choosing the best there is. The last thing your client wants to see now is a clumsy form with a lot of scrolling to do and fields to complete. Avoid requesting more information than is necessary to make the payment. Keep it as minimal as possible and your customers will love it.
3. Add multiple payment options
The second best thing after the simplicity that customers love is a choice. Add at least three payment options so your customers can choose. Given the unlimited opportunities offered by e-commerce to make purchases from any location, it is imperative to offer your customers some payment methods so that they can choose the one that best suits their needs. Depending on the type of your industry, it might be a good idea to consider the criptomonedas as Bitcoin along with the traditional money to stay competitive in the growing era of digital opportunities.
4. Add discount code box
Offering high quality products or services at a reasonable price is one thing. Making your client feel privileged to get a special offer is another. According to data compiled and analyzed by invespro.com, Around the 62% of women online, buyers pay attention to discounts and promotions, compared to 57% of online shoppers.
- The 54% of buyers will come secondary products in the car stores if the products are supplied at a price lower than their original.
- Nearly two-thirds of consumers who lean out that promotion or coupon usually take the deal if they are wavering or are undone in making the purchase.
- 30.6% of users' Internet users often use discounts and coupons for day-to-day purchases, including digital purchases and restaurants in restaurants, compared to 16.8% of evils.
- More than 70% of Internet users of users who have discounts have the side effect on purchase purchases during festivals.
- The 83% of respondents said they were "unlikely" or "very likely" to click on a discount offer or promotion.
I expected, all these dates should be more than enough to urge you to add a discount code to your website.
5. Guest exit option
Probably, all of you have experienced the laziness of creating an account to buy once in a lifetime. Given this point, online retailers have simplified the buying process by adding a guest buying option. It is a practical solution for lazy people and for those in a hurry. In addition, it allows buyers to avoid the common barrier of entering so much information about them.
The SaleCycle Survey discovered that almost 23% of customers have abandoned their carts due to the payment process that requires a lot of information and time. By implementing a guest payment option, retailers give buyers the opportunity to go ahead with their purchase simply by entering their email address.
From the other side, registration also has its advantages, since customers are not required to enter their email during repeat purchases. Therefore, keep the registration offer always visible to customers, after they complete a purchase with the guest payment option.
The example below is from John Lewis. It offers a simplified payment process either by entering your email address and creating an account later or using the details of the existing account.
In short, with the help of the guest payment option, online shoppers avoid the barrier of fulfilling a great deal of information and enjoy their purchase.
6. Provide social logon
Another useful tip for updating your online store is to provide a social login while you make the payment. The structure of the human brain allows the user to remember only some of the established passwords, and the lucky ones are usually social networks. Therefore, by adding a social login button on the payment page, it will greatly simplify the payment process.
As for the majority of social networking users who are logged in, it is a matter of seconds to verify their identity and move smoothly to the final payment step. As a result, you obtain registered customers who are not required to complete any information.
7. Optimize for mobile
By having so many consumers armed with smartphones out there, mobile optimization is an imperative choice for online stores. It is estimated by Mobile Payments World that the number of mobile buyers will consist of 56% of the consumer population in 2020.
Not surprisingly, this number is increasing, but online retailers have a lot to fix.
Sometimes, mobile device users face many obstacles during the payment process, which is not a well-received fact for an online store. Let's look at some common mistakes that mobile buyers will never accept with cheers:
- Crucial buttons difficult to play
- Outdated payment forms
- Checkout terribly slow
- Checkout out of focus CTA
Consequently, by correcting these common mistakes, you will optimize your online store to improve customer satisfaction.
8. Show the final price before paying.
One of the most hated things in e-commerce are the hidden prices. People will never feel confident and loyal to a website that unexpectedly changes the total purchase price during the last step. Therefore, it is best that you show the final price before paying and avoid negative customer comments.
In addition, by showing the total amount of the order to the customer before clicking the payment button, they are more likely to return and add something else in the cart. Lacking a clear and transparent pricing policy will cause confusion for potential customers.
9. Recommend relevant products on the payment page.
Checkout is a great opportunity to recommend relevant products to customers. There is a widespread belief that customers are in high spirits during the payment process, which opens up a perfect opportunity to increase customer sales. Therefore, by using this fruitful client mood, you can convince them to buy more. By adding a thoughtful discount, you will get customers ready to buy more.
In addition, you can reward your customers at this stage with the really cheap products or promotions they currently have. An educated and customer-friendly purchasing process is the guarantee of higher conversion rates and recurring customers.
From the other side, be careful not to overdo it with additional sales, since your primary goal in the payment process is to have an order placed and not lose customers in vain.
10. Optimize bugs and fix them
And finally, here comes the stage of optimization of errors. There are some test tools, which are not expensive and correct and correct any errors related to the payment process. In addition, there is a completely free option to ask friends and family to test the website and report any errors and malfunctions.
Another free and helpful tool is Google Analytics. It will allow you to identify the problem area during the payment process. A greater number of users who drop out during the payment process is a sign that there is a problem to be solved.
All this is about solving any possible errors and preventing the customer from buying. Therefore, at the same time, problems, problems, will scale your online store to another level and improve the conversion rates of your website.
By taking optimized actions according to these tips, you will increasingly change the payment process of your online store.
Any customer will leave your store happy and satisfied if you meet an easy to navigate website with multiple payment options, discounts and promotions. It is also essential to take into account the users of mobile devices and facilitate the payment process.
And it goes without saying that the engines of recommendation will also play their crucial role. We all enjoy an individual approach, whether online or in the brick and mortar store. With the use of even the simplest recommendation engine, it will show your customers that you care about their needs and desires.
Thanks to these tips, it will change the whole panorama of your website improving conversion rates and generating more sales.