Have you ever walked into a store, filled your basket with things, walked to the checkout and abandoned it there? Probably not. Yet online businesses see this kind of consumer behaviour every day. But how can you stop it? Figaro Digital spoke to the team behind Technology for Marketing to find out.
There is no quick fix to increase conversion from abandoned baskets, but a few simple tricks and tips along with careful planning of the customer’s online journey should help you convert those browsers into buyers.
Step 1: Focus on the start of the customer checkout journey
Build trust with the customer from the first click. Product reviews and ratings help build trust. Think Payments and the 3Ls (Language, Logistics and Layout). Delivery costs, stating a clear refunds policy upfront, site layout, language all go into building trusts. Payments is a crucial consideration here too. Offering familiar payment methods help increase conversion.
Euro Car Parts, the UK’s leading distributor of parts for all makes of cars and light commercial vehicles, were able to successfully expand into France by combining its localisation efforts and the right payment methods using Ingenico ePayments.
#Smarterpayment tip: Find out if your payment provider can cater to a variety of local and international payment methods, offer multiple currencies and also offer payment pages in multiple languages.
Step 2: Build a friction free checkout
A significant 25% of dropouts occur due to payment friction. This friction tends to be caused by concerns over security and a confusing checkout process.
Reduce customer ‘noise’ – anything that distracts the customer from checking out. These can include banner ads, upselling, links to other parts of your website, and unnecessary information overload.
Go mobile – Many ecommerce sites ignore the importance of a mobile friendly payment page. Vital business captured from mobile sites is often lost when it moves to a payment page that is not mobile responsive.
Tokenisation is one clear solution in driving smartphone conversion while at the same time reducing your needs for PCI compliance. If customers don’t have to repeatedly enter their card details on small screens while on the go, they’re much more likely to return to the site.
#Smarterpayment tip: Find out if your payments provider offers mobile responsive payment pages, in-app payments and a single click checkout.
Step 3: Keep the focus on payment page optimisation post checkout
Conversion rate for payments is the ratio between the number of payment requests and successful payment authorisation. Fraud is a major concern for an online business. You could still lose your valuable sale at the time of payment authorisation. Fortunately, there are some simple ways to minimise it.
Always on use of 3D Secure is seeing a decline and can cause payment page abandonment. Having Flex3DS can help you get smarter on your conversion while reducing fraud.
Payment declines by the acquirer can also affect your sale. Local acquiring connections can help minimise this. When Fruugo an online marketplace decided to go international, they went with a single collecting service, along with consolidating their payments and fraud protection services with Ingenio ePayments. After launching in the Nordics in 2009, it is now present in 32 countries with over 5,000 brands and expanding at a rapid rate.
Finally, it is very important to A/B test every step of the checkout process.Measure, measure, measure. Your payments provider should be able to offer you with comprehensive analytics that help you learn from your abandonment rates.
#Smarterpayment tip: Find out if your payments provider offers a comprehensive fraud solution, has local acquiring/collecting services and can help you with analytics behind payment abandonment.
Getting online businesses close to mirroring the sale of a physical store should begin with a rethink of the entire customer checkout experience. Building a smoother checkout to increase conversion involves implementing a friction free and secure payments strategy at the onset of the customer purchase journey.
200 speakers. 15 theatres. 100+ martech exhibitors. All free.
Join over 8000 forward thinking marketers at Technology for Marketing on 28 – 29 September at Olympia London.
- Get advice from those at the top of their field, sharing their secrets across all aspects of marketing including; content, email, search, social and much more.
- Be inspired by our keynote speakers including; Joe Pulizzi, Founder of Content Marketing Institute, Ritesh Patel, EVP & CDO at Ogilvy CommonHealth Worldwide and Dave Coplin, Chief Envisioning Officer at Microsoft UK.
- Push the boundaries in our neuromarketing lab by taking part in a live experiment and understanding how your brand can evoke positive emotional responses
