Increasing checkout conversion
That is the goal of all e-commerce businesses. Shopping cart abandonment is one of the most common challenges business owners face today. Even though customers visit your website and place something on the shopping cart, a trailer of the Netflix series they’re watching might distract them and, lo and behold, another shopping cart abandoned. As much as there are external reasons for abandoning a shopping cart, customers also tend to lose interest because of issues on the website’s checkout page. To maximize checkout conversion, we need to give our customers a smooth and easy checkout experience. Here are 3 tips to help you do this.
1. Provide different kinds of payment methods
56% of customers want to see a variety of payment options on the checkout page, according to Entrepreneur.com.
While it is inefficient to include all payment options imaginable, knowing which ones your target customers are comfortable with is important. For instance, in the US, credit and debit cards are common payment methods. Another rising in popularity is mobile or digital coupons. If your target market is people in the US, you need to make sure you have these options on your checkout page. What if you’re trying to go international? Some regions are less familiar with credit cards and more used to cash and direct bank transfers so having these payment methods will help increase your checkout rates in those places.
2. Provide assurances of data security
With stories of personal data being stolen online, it is no wonder that 58% of survey respondents from eConsultancy said they leave a checkout page due to payment security concerns. Assuring your customers during the checkout process of your security certifications will increase your customer’s trust in your business. An SSL certification shows that you are able to provide a secure connection and encrypt credit card information. Also, showing your PCI-DSS certification means that you are compliant with the standards of credit card companies when it comes to cardholder data security.
3. Offer a reassuring money-back guarantee
Unlike shopping at brick-and-mortar stores, customers cannot see nor touch the real product and rely only on images when they shop online. Because of this, customers tend to be more skeptical and hesitant to part with their hard-earned money. Giving a money-back guarantee shows that you are confident about the quality of your product and helps the customers trust you with their money. It also shows that you care for your customers by ensuring that they are satisfied with their purchase. This gives you a competitive advantage when selling your products online since not all business owners can give that level of commitment and assurance. Lastly, be proud of your money-back guarantee and make it noticeable on your checkout page.
Optimizing your payment process with merchant accounts
Wondering how to start optimizing your checkout page with the tips I shared? The best way to start is to simply get a merchant account that helps you achieve all the tips mentioned. Here are the features of merchant accounts that will optimize your payment process.
Flexible payment options
A merchant account lets your customers choose the payment method convenient for them. You can use the more popular ones in the US such as credit/debit cards and digital coupons or those more convenient in other parts of the world such as direct bank transfers, cash or check. No need to lose customers just because you are not able to provide a convenient way for them to pay. If you also want to provide face-to-face payment methods in the future such as an in-store POS, you can also get it from your merchant account provider. The various payment options offered by merchant accounts do wonders for your checkout rates.
Merchant account providers have PCI-DSS certification and they are always at par with the security and data protection standards of the PCI-SSC.
Your chargeback advocate
If and when a customer demands a refund or chargeback, your merchant account manager will help verify the validity of the chargeback claim. If the claim is questionable, your merchant account provider will be your advocate in winning the case. Merchant account providers can easily facilitate the process because they have good relations with credit card companies. Some merchant account providers even offer their own credit cards. Optimizing your payment process is easier when you partner with a trusted merchant account provider.
Interested to find out more?
On top of the features mentioned in this article, there are more amazing benefits of merchant accounts that we are excited to share with you. A flexible fee plan that suits your
business needs and an account with no sales volume cap are just some of its perks! Just book an introductory call with us, Merchant Account Managers, to find out more. If you need to secure a merchant account, we could help you get everything you need including creating a fee plan that you are comfortable with. Our 15 years of experience with merchant accounts will be invaluable when we give you advice on how to create that successful application. Even after it gets approved, we will help you manage transaction risks so that your account stays healthy. Our priority is to maintain a good relationship between you and your account provider so you can get the best rates and terms possible. Let us help you get that merchant account so you can give your customers their ideal checkout experience.