Tap here to contact us

Viewing articles tagged 'b2b'

The Wrong Way To Offer Multiple Ecommerce Payment Options

11 Aug 2016

In last week's article we mentioned how it's not uncommon for between 5-10% of ecommerce store payments to be declined and how to get these sales back on track you can opt to prompt a customer to use a different payment gateway when you provide the 'card declined' message. An alternative to this is to offer alternative payment options during the checkout process.

Having multiple payment options is a great idea because:

  • Customers are able to choose the payment option they feel most comfortable with
  • A business can help lower transaction fees by accepting direct bank transfers which don't incur additonal fees, but on the flipside it's harder to guarantee a customer will actually pay
  • It offers an alternative payment option in case one of the other options is offline or the customer has triggered a fraud warning on their credit card
  • It opens up a new revenue stream; for instance accepting payment by gift vouchers means that a business can also make profit by selling them

The problem with this is many ecommerce stores think they are doing their customers a favour by pre-selecting the most common option (or the one which is most favourable to the ecommerce store owner in terms of transaction fees), but often leads to confusion for the customer who is unable to easily see that what they are being offered is a choice of payment options, and instead see a really long checkout that needs filling in which could cause them to abandon their purchase instead!

 

As you can see from the example above, it looks like the only accepted payment method is via credit card, so a customer who may prefer to pay via PayPal could potentially leave because the checkout process looks quite long, or worse still, they could fill out all of their credit card details, scroll down and then realise they can select PayPal, in which case they're likely to be irritated that they've wasted so much time filling out their credit card details! Remember, every time you cause frustration you are tempting your customer to abandon their purchase.

There are a couple of options that you can implement instead which help to address this issue, including using a tabbed approach which helps to make it more obvious that there are different payment methods which can be chosen. We prefer a much simpler approach:

 

There's nothing wrong with using radio buttons for chosing a suitable payment method - the trick is to leave all the radio buttons unselected so that the options available under each selection only show once a customer has picked the option which is the most suitable for them.

Do you have any questions about how your ecommerce store can be improved so that you increase your profit? If so, feel free to email us - we're always happy to help!

Permalink

How To Handle B2B & B2C On One Ecommerce Store

05 May 2016

Classically ecommerce stores for B2B & B2C customers are kept separate, but with the right approach you can service both needs within a single ecommerce store....

Click to continue reading >>

Ecommerce Integration; How To Stop Wasting Your Time

28 Apr 2016

All ecommerce store owners want to increase the amount of profit they make from their online shop. Integration helps to cut down on the amount of time you waste....

Click to continue reading >>

SSL encryption; how a green padlock can help stop 17% of cart abandonments

22 Feb 2016

One of the biggest frustrations for any online store owner is seeing customers add items to their cart only to abandon it before completing their purchase. There are many reasons why this happens, for instance a great number of cart abandonments are due to shipping costs....

Click to continue reading >>

Why shopping on a mobile sucks

09 Feb 2016

The speed at which mobile devices have taken over has caught many retail businesses by surprise. Business owners tend to be genuinely surprised to learn that mobile devices count on average for 30-50% of all traffic to their online store....

Click to continue reading >>

Online relaunches; 6 tips to avoid the mistakes Weight Watchers made

09 Dec 2015

It doesn't matter how good your online offering is or how future proofed you tried to make it when you launched it, there will come a day in the future where it becomes necessary to replace it with a newer version....

Click to continue reading >>

The top 3 ecommerce killers

09 Nov 2015

There is nothing worse than investing in your ecommerce store only to have it succumb to one of the top 3 killers. All your hard work, time and money is at stake, so keep reading because prevention is always easier than the cure!...

Click to continue reading >>

Is this common address mistake costing you sales?

02 Nov 2015

The biggest killer of sales on your ecommerce store is a poorly constructed checkout process. Customers will often put up with a struggle to find your products and will even go to great lengths to get what they want to purchase in their carts, but their will almost instantly evaporates if they come to a checkout that they can't instantly understand....

Click to continue reading >>

How integrated ecommerce increases your profit

19 Oct 2015

Integrated ecommerce is where you connect your online store with one or more of your business applications. While the term itself is relatively new, the concept isn't, but it is starting to explode within the B2B sector especially as businesses look for a way to increase efficiency and profit in today's business environment....

Click to continue reading >>

5 things your B2B ecommerce store must have

12 Oct 2015

When considering an ecommerce store for your B2B business there are a lot of potential platforms available to choose from. The ecommerce store which offers the biggest profit increase for your business will be one which achieves the following:...

Click to continue reading >>