Making the payment process easier is one of the most effective ways to make customers more attracted to your online store ensuring success in eCommerce business. Here we are going to discuss a few smart ways to make the payment process easier for an online business that can help you to grab more customers’ attention.
Worried about increased cart abandonment rate on your online store?
According to various market-based research, the cart abandonment rate in eCommerce business is on an average 69.89%. Obviously, this is something to worry about!
No business owner likes the fact that online shoppers are coming to their website but abandoning the cart without making any purchase!
But why is this happening?
Obviously, there are always some visitors, who are “just browsing”, without any intention of actually buying something. But in most of the cases, these types of visitors leave the website or abandon it even before initiating the checkout flow!
So, you can simply segment out this “just browsing” type visitors. Now, when you pay attention to the remaining cart abandonment reasons during checkout, what you can see is explained in the picture below!
Now that you know the real reasons behind cart abandonment, let’s work towards making the payment and checkout process easier for the online customers.
How? Read on!
Allow payments without making an Account
Well, as you can see in the above-mentioned statistics, asking customers to make an account in order to make payment is one of the main reasons behind this cart abandonment!
Hence, DON’T DO it!
Honestly, do you think people will want to remember another username and password? Maybe not!
Moreover, when first-time online shoppers are forced to do so, that is really a huge turn off for them! Believe it or not, it is a serious conversion killer.
Why users hate signing up or making an account?
Smashing Magazine published a study report mentioning that users think their inbox will be flooded with countless promotional emails every now and then.
Also, many customers don’t really get the point of the necessity of signing up and simply leave the website when they are asked to do so.
Another major disadvantage of requiring an Account is it needs people to fill up forms with lots of information and prolongs the payment process.
To avoid this, you can allow guest checkout process!
Multiple payment options
Even though it sounds kind of obvious, but there are such websites out there, which provide only one payment method.
According to an infographic by Milo, almost 56% online shoppers expect multiple payment options on the website checkout page.
Well, it is understandable that you cannot add every conceivable payment method but you can research on your target audience about their preferences on payment methods accordingly can do the needful.
You should not redirect people
Most of the online business owners do this mistake of redirecting people to a different website while making payment!
You have worked hard and that is why people are coming to your online store right? Now, why should you send them away to a different site just before making the payment!
Using a payment gateway service like PayPal comes with such a disadvantage. It is actually like a mind game!
Making a payment on the checkout page is the last step to complete a conversion. So, design such a checkout page for your website that customers will actually remember your brand or business name while leaving the site after buying the product.
Ask for necessary information only
Market research shows that a huge percentage of people abandon cart as they are being asked to fill up a lot of information, which is not even related to making a purchase!
Believe it or not, people actually dislike it!
Asking too much can result in losing potential customers. Hence, keep it minimal.
You can take inspiration from Buffer’s payment form shown below.
Use minimum distractions
Well, do you want your potential customers to get distracted on the final step i.e. checkout and payment?
Absolutely no, right?
Then you should keep all the distractions like advertisements, popups etc. at the bay on the checkout page.
Give reassurance on privacy and security
Well, customers will obviously feel a bit hesitant when they need to provide personal information. It is normal for them.
Now, your job is to showcase how professionally you are handling these security measures.
According to a survey report by eConsultancy, almost 58% of respondents abandon their carts due to payment security concern.
But you need to give reassurance to the online shoppers about data privacy and security.
SSL certification is necessary. Also, complying with the standards of the PCI SSC is crucial.
Make sure that you are displaying all these PCI and SSL badges on your website along with other security credentials.
So, if you own an eCommerce store, you should incorporate the above-mentioned tips to get more customers. Well, other than the above-mentioned ways, you need to be careful about
- A seamless checkout page design
- A clear CTA (Call-to-Action)
Still struggling to get everything organised?
You can always get in touch with eCommerce development experts for the best consultation and development services.
Magento, OpenCart, Shopify, WooCommerce, ZenCart, BigCommerce, osCommerce – which platform are you choosing? Depending on the choice you make for eCommerce development framework to build your online store, you can consult with the respective framework experts and developers.
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