Payment Friction: Keep checkout flowing
Whether the "friction" is due to technical errors, customer doubts about your site security, or confusion about payment options, the goal remains the same - simplify the process and reassure customers.
- Quick win:If users encounter a payment error, provide an alternate way for them to contact you and complete their order (via phone, email, chat, etc.).
- Go a step further: If you respond to refused payments or incorrect card numbers with an error pop-up, be sure to tag this pop-up. This will give more visibility into how many site exits at the payment level were due to refused payments, and how many were due to errors.
Did you know that "alternative payments" (everything outside of credit or debit cards) account for 22 percent of global e-commerce transactions - a total of €165B (according to global payment processor WorldPay)? Don't miss out on any business due to lacking currency or payment options.
- Quick win: Offer as many different types of payment options as you can (credit card, bank transfer, PayPal, checks, gift cards, etc.).
- Go a step further: Do you sell in other countries? Consider what the most popular forms of payment are in your target markets, as they very may well be different from the ones you're used to.
Keep in mind that in many cases, cart abandons simply play a part in the complex customer journey, like comparison shopping: 37 percent of abandoners say they were just browsing (source: Statista). So just because they abandon now doesn't mean they won't ever come back. In these cases, using retargeting ads or email reminders can effectively encourage your visitors to come back and convert.
To keep your conversion funnels streamlined and effective, look to digital analytics for clues and insights into what's working in your checkout process and what's not. Your reports hold the keys to a happy ending.
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