Customers want a simple online shopping experience. Here’s how to make it easier for them.
Did you know that customers generally abandon online shopping carts right at the very end of the purchase experience? They spend time selecting the items they want but walk away when it’s time to make the payment.
If the checkout process has too many steps, 21% of customers leave1. Even seemingly small tasks like requiring them to register an account before making their purchase is a hurdle. And if you don’t offer their preferred payment option, they’re also quick to leave.
Here’s how you can make the payment process easier for your customers:
When making an in-store transaction, the process is simple. You select the item you want to buy, walk to the register, pay and walk out with your new purchase. It’s the way we’re used to shopping.
Online, the process can get cumbersome. Making a payment online doesn’t need extra steps, yet many online platforms require customers to jump through unnecessary hoops. For example, leading a customer
Keeping the customer on your website lets them know they’re in the right place and buying from the right business. It’s best practice to avoid redirecting your customers during the customer journey.
After adding Limepay’s BNPL solution, The Party People’s average order volume increased by 25%, and their cart abandonment rate reduced by 30% over a 12 month period.
Another sticking point for customers is when they’re required to create an account before making a purchase. Especially for first-time customers, this is a real turn-off. They don’t know you well, and by asking them to create an account, you’re collecting personal information they may not be ready to share.
Offering a guest checkout option means they can buy without fully committing and test your product before becoming a loyal customer.
To make the online payment process more appealing, offer the payment methods your customers prefer. While credit card payments and bank transfers have been the standard payment solution for many years now, buy now, pay later is rising in popularity, especially with the younger generations. Customers under 40 make up over half of all buy now, pay later users2.
Australia’s largest stockist of party supplies, The Party People realised how valuable buy now pay later is. Customers love BNPL options because they don’t carry the high interest that credit cards do.
However, The Party People noticed customers were limiting their purchases because of concerns over expensive late fees from their previous BNPL providers. When they added Limepay’s BNPL option to their online store, their average order volumes increased by 25%.
How does your checkout compare with what customers expect? Download our ultimate checkout checklist to see how your site measures up.
From browsing your online store to clicking ‘buy’, make every step simple for customers. You’ll increase sales by reducing abandoned carts. No redirects away from your site, guest checkout option and a buy now, pay later provider all enhance the customer experience.
If you’re ready to make online payments easier for your customer, book a Limepay Consult.
1 https://marketing.dynamicyield.com/benchmarks/cart-abandonment-rate/