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Viewing articles tagged 'cart abandonment'

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!

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Card Declined? How To Get That Ecommerce Sale Back

21 Jul 2016

According to PayPal it's not unusual for between 5-10% of ecommerce store payments to be declined. Here's a simple solution to get that ecommerce sale back on track....

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Can A Simple Estimate Help Reduce Abandoned Carts?

02 Jun 2016

Ecommerce stores face abandoned cart because too often the only way for a customer to see what their shipping cost will be is during the checkout process....

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How To Get Shoppers Who Abandon Ecommerce Carts Back

12 May 2016

With up to 66% of potential ecommerce sales being abandoned, does your ecommerce store have a strategy for getting these customers back spending money with you?...

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What Makes Customers Abandon You 66% Of The Time?

21 Apr 2016

Running an ecommerce store is a reasonable investment, both in terms of money and your time. Don't let your effort be for naught. Learn why you are losing profit!...

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3 Simple Reasons Your Checkout Needs Address Verification

14 Apr 2016

Ecommerce stores need to take advantage of every trick to lower their cart abandonment rates. See how an address verification system can be used to your advantage....

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How To Reduce Ecommerce Cart Abandonments With One Address Trick

07 Apr 2016

Ecommerce stores experience cart abandonment rates on average of 68.63%. But you can help to lower this rate with one simple address trick....

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The most expensive box on your checkout

16 Nov 2015

According to a study by PayPal and Comscore the third biggest reason why potential shoppers abandon their carts is because they went looking for a discount code. 27% of online shoppers went to an e-commerce store, added items to their cart and then subsequently abandoned that purchase because they couldn't save money....

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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....

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