Have you ever been out to eat and, at the end of the meal, waited way too long for the check to come? Why is that so frustrating? Because you’ve already committed to a brand (the restaurant). And, now that you’ve given them your business, they’re holding you hostage to take your money. It’s the worst.
Making it difficult for your customers to check out is just asking for a graveyard of abandoned carts. First things first —are you making it easy to pay by using popular payment methods? Obviously, your customers want to use their credit and/or debit cards. You need to do research about which merchant services company will make the most sense for you. There are a lot to choose from:
With A360 eCommerce Business Coaching, we can help you narrow down the best options for you and your eCommerce business.
Where you go from there depends on your target audience.
PayPal is a giant when it comes to how consumers pay online. Between the 3rd and 4th quarters of 2019, it gained 9.3 million new users. PayPal makes some very convincing arguments for offering this as a way for your customers to pay:
- PayPal is available in over 200 countries, allowing you to accept 25 currencies.
- It’s super easy to get started.
- You’re protected with their seller protection.
You eliminate the question of whether or not you should allow people to pay directly from their bank accounts — PayPal does that for them
Amazon is the behemoth of eCommerce success. So many people shop Amazon, it’s clear people trust the company. When you offer Amazon Pay, your customers can pay by entering their Amazon credentials. This instils confidence in your brand by aligning it with the Amazon brand.
Like PayPal, users won’t have to enter their card information and decide whether or not they want to trust yet another site with their sensitive information. You have to weigh the tradeoff of having the Amazon logo on your site. This could remind users to double-check the price there.
If you have a pretty unique item, this shouldn’t cause worry.
Clearly, Apple isn’t going anywhere. And, with the added security of a fingerprint, more and more customers are paying this way. It’s a super easy way for Mac and iOS users to pay.
While you’re on their site reading about how to sign up, check out their site’s layout and use of white space. There’s a reason Apple just kind of wins at life.
Your Customers’ Profiles
You also want repeat business, so make it really easy for a customer to enter and save their payment, shipping and billing information for next time by creating an account.
There’s an added benefit when they choose this way to buy — you get their email address! Of course, they have to opt into your newsletters or emails. But, more often than not, they will. Give them a bonus for signing up, and you’re off to the races.
Another thing we can thank Amazon for. Your customers look for free shipping everywhere. There’s a study that showed nearly 80% of consumers abandoned their carts because they didn’t like the shipping options.
You can offer free shipping after a certain dollar threshold is met, and there’s even a chance to be super strategic here. If you set a $50 threshold, be sure your pricing makes the most of it
Actionable Items to Improve Your eCommerce Business’s Success
- Decide on an attractive offer for getting new customers to create an account.
- Analyse at what point carts are abandoned in your sales funnel. If it’s shipping, consider lowering it or eliminating the cost altogether.
Avoid These Common Pitfalls
- Making your shipping rate too high. Having a $10.95 shipping fee for personal use items will probably result in abandoned carts.
- Having too few or too many payment options.
A360 eCommerce Business Coaching helps eCommerce businesses make the decisions that help them achieve their goals and build business value.