A smooth checkout process is the real deal clincher for any e-commerce business. In terms of importance, checkout surpasses any other element that holds a key value in an online storefront. Sadly, many retailers overlook this aspect, which causes them lose on revenue.
The direct consequence of a scrappy checkout process is cart abandonment. A recent Baymard Institute study revealed that, on average, 68.81% of shoppers abandon their cart. So a right checkout flow invariably makes online shopping a great experience for consumers, which is only when the payment transaction gets completed smoothly.
If you are running an e-commerce business, it is crucial to optimize your checkout process so that you can deliver a great customer experience to your users, which will boost your revenue stream. Moreover, when it comes to a successful growth strategy in e-procurement, customer acquisition and retention are equally important factors. A seamless, easy-to-follow checkout system enables both. The checkout optimization also includes the proper inventory management so that your customers can easily get the products they want. Thus adding a custom product option will aid in seamless transaction, which in turn will generate bigger revenue.
To drive a healthy customer acquisition, you have to impart a sense of trust and security regarding your business. In the wake of growing online privacy concerns, consumers are often very skeptical of providing personal information, especially their credit card details. Thus making it hassle-free for your customers to complete their transaction would be a great optimization strategy.
Here is how you can optimize the checkout process to drive a successful customer acquisition:
- Reduce the number of form fields and keep it to minimum
Streamlining the checkout process essentially means keeping it to a single page with very few steps. More steps means more friction, and more friction begets cart abandonment. In fact, more form fields during the checkout process are no less than digital hurdles for your customers. These hurdles come between your customers and conversion. You need to ask only the necessary information, which consumers can comfortably provide.
The following checkout form of ASOS is optimized for minimum steps:
Put yourself on their shoes, go through the checkout process, and revisit all the form fields there. Then ask yourself whether you really need all of them. It turns out, the more information customers are asked to give, the less secure they feel. Even from psychological point of view, you have to narrow the gap of between decision making and final purchase process. The only challenge, however, is to make sure you create a positive impression.
There are many methods for reducing form fields and minimizing steps:
- One-click payments; for example, Amazon’s “Buy with 1-Click” button that skips the entire checkout process.
- One-page checkouts, which eliminates the guesswork in determining how many more steps to go before completing the transaction.
- Quick and simple redirects – customers can use this methods to get to the checkout page in just one click.
- Make the payment process easy with multiple payment options
If you don’t create a user-friendly payment page, it could cause your customers to drop off along the way. An easier payment process, on the other hand, will help you increase sales and conversions. Being the final shopping stop on your e-commerce website, your checkout page is very critical. It’s the place where your customers bid adieu their hard-earned cash.
Providing different payment methods is a good strategy to start with. According to a study, 56% of shoppers expect a variety of payment options on the checkout page. However, it is not practically feasible to include every payment option, but you’ll have a fair idea when you research your target audience and see which payment methods they use.
Another way of easing out payment process is to allow payments without requiring an account. You can’t just force people to sign up for an account as they might feel it too intrusive. When it comes to payment, you should provide reassurances on security and privacy to your customers.
- Create a mobile-responsive, easy-to-use shopping cart
As more and more people are using mobile phones for online shopping purpose, making a mobile-friendly website is not just required, but it’s must. More importantly, your checkout page should be optimized for mobile users so that the customers can place their orders without any hassle. According to a recent Google survey, 72% of mobile users say it’s important to them that websites are mobile-friendly.
A mobile-responsive experience will make it easy for your customers to add or remove products from their shopping cart. It’s also important your checkout page should keep updating whenever changes are made. It will help your customers monitor their changes in real-time. Furthermore, a mobile responsive checkout page helps your customers complete their purchase faster and with less tedious scrolling, ultimately resulting in more orders for your store.
- Add live chat for real-time conversations
A great checkout optimization strategy is to add a live chat feature to your website. It will not only increase conversion rate, but also create a good user experience and hence, boost sales significantly. According to a report by MarTech, 51% of consumers are more likely to purchase from a site that offers live chat.
Today people are very busy and they don’t want to waste their time on calling or sending emails. So what live chat does is cut down on time; as a result, your customers are much less likely to abandon their purchase. Placing a live chat window on the checkout page can help send invitations to users who have reached a certain cart value.
It also ensures transparency. So, whenever there is a disparity in prices, consumers can simply use the live chat service. Also, using the live chat feature, your customer support representatives can guide the customers by pointing out the areas where they are supposed to head in order to complete the transaction.
- Display trust signals throughout the checkout process
Unless users have complete trust and faith on the safety and security of your online business, they will feel jittery about completing the transaction. The moment when they reach the most sensitive parts of your webpage, they start thinking more about security, especially when they arrive at credit card form field. They are on complete guard in terms of spilling important information. Showing trust signals can effectively address this concern of users.
There are various types of trust factors that you can use for your checkout page: merchant reviews, SSL certification, third party security validation like Norton, McAfee, etc., logos of available payment options. Next, add badges to your site that will help customers know the site is safe and secure. These seals should be placed both on the site where everyone can see, plus throughout the checkout funnel.
Easing out the checkout process can be helpful to e-commerce businesses in a number of ways – customers stop abandoning shopping carts, find the transaction hassle-free, and companies are able to drive sales and revenue.
How do you optimize customer checkout?
- Reduce the amount of form fields
- Offer multiple payment options
- Mobile-friendly checkout
- Live chat availability
- Secure checkout
Topics: Sales & Marketing