Payment In the Web Store: Tried Methods To Increase Your Conversion

Pay in the web store: Proven methods to increase your conversions

Checkout is perhaps the most important point in your web store: the path that includes the final steps, at the end of which there is a conversion and the buyer's money comes to you. But only if you do it right. There can be plenty of customers who make a backflash at the last step.

We’ve written exhaustively previously about what practices you can use to combat basket abandonment, and now we’ll take a closer look at the payment process in particular.

How much money do you give up?

If you’re wondering how much revenue you’re losing by having some go back to the last step, you can find out with a simple calculation.

Let’s say your checkout process works at 85% efficiency, meaning only 15% of visitors who start paying back.

Let's say your web store has a monthly revenue of $ 10 million and an average order value of $ 25,000. In this case, you would get half a million dollars extra income per month if you could increase the efficiency of the checkout to 90%.

Optimizing your process is definitely worth it, bringing in abundant energy, labor, and costs in the long run, as it keeps you generating extra revenue simply by not letting go of customers who are already on the verge of payment.

For the basics, let’s look at Fogg’s model of behavior. According to this incentive, the effectiveness of a trigger is determined by two factors: motivation and how difficult it is to perform the action we want.

More understandably, if we really want to buy something, we desperately need it, we’ll fight ourselves through a more complicated process, while if we “just look around,” we won’t go through a torture for payment. But while the physically walkable stores have PayPass there, you have to resort to other tricks to make the checkout easier - or you have to make a very tempting offer.
 

About the basket in brief

The moment a visitor adds something to their cart, they are no longer just browsing - they have already entered the shopping phase. From here, it's up to you to take it to the checkout.

First, it should be obvious that there is something in the cart: you need to clearly display the contents of the cart on each page along with the grand total and a CTA that will take you to the payment. (Ideally, you can even display a small image of the products in your cart.) 

The CTA should be as conspicuous as possible, it shouldn't be searched, but it should be found instinctively by the user.

It doesn't matter what you write on it: be clear about what happens after a click! For example, “Continue” doesn’t give anything specific, it obscures from the customer what will happen when they click, while “Continue to Pay” will already bring you more clicks because you know exactly where you’re going to come from. Don’t wait to follow blindly, straighten your way, wait with a red carpet.
 

What to do when you add to cart?

Don't take the user to another page because you didn't request it. Don’t be surprised to find yourself in an unfamiliar place, just confirm that you’ve put in the basket what you wanted - but it’s clearly visible.
Of course, this also raises a problem: if you don’t take the customer to a new page, you’ll still see the same product you’ve put in your cart in front of you. How to get more shopping?

In this case, you may want to display relevant products - from the same category, or just the ones that users often order with what they already have in their cart. This method is called cross selling.
 
You may be reminded - if you have such a promotion - that if you put a particular offered product in the cart, you will receive the delivery free of charge.

Of course, you can also take the customer to the cart page, perhaps a little disturbing the process - but at the same time directing him towards payment. Here, too, you can make upsell offers, but by directing your people to pay immediately, there may be less of the average number of products in your cart.
 

Cart contents

• Be clear about what’s in the customer’s cart.
• The customer has control over everything.
 
These two simple principles should guide you when designing your basket page. If you can't clearly assess what products are in the cart, how much they cost, how much the final amount will be (plus extra costs!), you shouldn’t be surprised that the buyer won’t come back.

In addition, it is important that you can do everything you need from the basket page: you can go to the product pages, remove them from the basket, change the number of pieces.
 
The "next" button should be conspicuous on the basket page, and here too apply the principle of clarity, the user knows where it will go. You can place this CTA in multiple places on the page, say at the top and bottom, so that the customer can move on immediately or after scrolling.
The registration dilemma
The question is: do you ask for registration when making a purchase?
 
Mandatory by no means: mandatory registration, especially when confronted with pay, can discourage a lot of people.
 
The problem is that whatever type of registration you choose, the user will feel uncomfortable. If you have to enter your details and also confirm the registration by email, it slows down and complicates payment unnecessarily - as if they were sent from the cash register in the supermarket even to customer service to fill out a form.
 
If you choose a different path and say you want to log in through social media, that’s simpler, of course, but you ask for extra personal information - they already want to give you money, it’s unnecessary to complicate the process.
The most obvious solution is that registration is optional: on the payment side there is the option, but you emphasize that it is not mandatory - in turn, you offer some immediate benefit (free shipping, a few percent discount, etc.) in return.
 
Also, pay attention to how many fields you fill out with whoever decides to sign up: believe me, a name and an email address are perfect first, especially since the case studies show that each extra field can reduce your conversion rate by up to ten percent.
Ask for card information last
You have to influence people according to Cialdini’s principles of persuasion: let them start something first, that is, give them their details - shipping address, name, email. Once you have this, it will also be easier for you to enter your payment information to complete your transaction.
 
It is important that the customer feels secure when entering the card details: place the necessary certificates and explanations here, and write down what encryption you use.
 
Today, online shopping has become commonplace, but many times we are still distrustful. The average user isn’t afraid to enter their information in a web store, which doesn’t seem like a scam (especially if a lot of user reviews, testimonial confirms this), but now we’re just about to grab the one or two percent who would be insecure.
If you follow these steps, we guarantee that you will be able to increase your conversion rate: few will decide in the last step that they prefer not to buy from you, and you can generate very serious extra traffic.
 
The methods described above are simple, and their integration into the payment process is almost hassle-free if you use a well-designed web store and enlist the help of a professional - and you can enjoy its positive effects for a long time.