Digital payments continue to grow rapidly. To capitalize on this trend, businesses need to look at a streamlined payment process to retain customers through the checkout process and ensure a pleasant experience. Just because they can checkout on your site doesn’t mean they will. Businesses need to look deeply into the customer experience throughout checkout to ensure it reflects the brand, values, and efficiency you value.
Here are some of the best ways to streamline payment process for improved conversion rates:
There is nothing quite like difficult site navigation to turn away potential customers. Look to simplify user flow. One study showed that an ecommerce site improved its conversion rate by 18.5% just by improving navigation.
To do this, you will want to simplify the checkout process as much as possible. Include consistent branding throughout the site to reassure customers. Avoid pop-up windows, advertisements, and other distractions during the checkout process.
It generally also cleaner to have integrated site checkout rather than directing customers to Paypal or a third-party site. Finally, after checkout, provide confirmation and then redirect customers back to your homepage to continue browsing and encourage further sales.
Ease of Registration
One potential turn-off for wary customers is forced site registration. Instead, offer the option to register after checkout just by adding a password. Include reasons such as ease of further checkout and increased card security.
All the information they entered for checkout will then be stored for their ease, and also to build your database. By making registration an easy afterthought, rather than a prerequisite to purchase, you improve customer trust and also increase site conversions for a streamlined checkout process, without forgoing building your list.
The checkout process is the time to make everything as simple and clear as possible for customers. If there are many pages of forms, customers may simply give up. Try to keep your checkout process to one or two pages maximum, and use simple instructions that are easy to follow.
It’s a good idea to have information buttons to clarify any unclear instructions. A progress bar so that users can see how many steps they have completed and where they are in the checkout process also increases customer trust and conversions.
In order to streamline the payment process for customers, it is essential to have a site that is fully mobile compatible. Customers now expect the payment process to be as easy — or easier — from a phone than from a computer.
Estimates say that as many as 79% of customers order primarily from their mobile phones. A clean, simple, streamlined checkout process for computers needs to be adapted to mobile devices.
One important way to build customer trust in the payment process is to provide currency options. Whether you are focused exclusively on US markets or also sell internationally, providing customers with the option to see how much a payment will be in their own currency is valuable to conversions and customer retention.
As a bonus, currency conversion providers will also often pay you a referral fee for currency conversion transactions.
Adaptable Payment Methods
Depending on targets for regional markets, it is important to provide payment methods familiar to local customers. Catering to local payment standards will ensure seamless checkout and perceived credibility of your business.
If the business is based in the US with primarily American customers, American Express, Visa, and Mastercard are the standards of payment. In Europe, bank transfer is often the most common payment method, with credit cards and Paypal seen as alternatives. In Asia, there are still other payment systems. Adapting to the norms of your target market ensures streamlined payment for customers.
Email Receipt on Payment
While emailing a receipt is now the standard of good business practices, it is important not only to build customer trust but to create a cohesive payment process from checkout to delivery. If you offer shipment tracking, this can be sent in further followup emails.
The emailed receipt also opens the possibility for future mailings, advertising, and follow up with customers. The receipt is your opportunity for upsales, coupons to encourage another purchase, or promotion of similar related products.
Putting It All Together
A streamlined payment process for customers is a matter of attention to detail. The customer should feel comfortable from the moment they land on your site. From site navigation to registration, a streamlined payment process can lead to improved site traffic, greater conversions, and an improved overall customer perception.
Building trust with your customers is not only about having a great product. It is about supporting them from initial visit through delivery, and beyond. By streamlining payment processes, you build credibility to further drive sales.