E-commerce Payments: Creating a People-Focused Checkout for Higher Sales
18
People-Focused Checkout for Higher Sales Noam Inbar, VP Business Development
-
Upload
noam-inbar -
Category
Technology
-
view
421 -
download
0
Transcript of E-commerce Payments: Creating a People-Focused Checkout for Higher Sales
People-Focused Checkout for Higher Sales
Noam Inbar, VP Business Development
Your Users are more than numbers on your Excel chart…
Source: Getty images
Why Do
PEOPLE Shop Online?
Some things are
getting between your user and your product
Time Pre- Buyer’s Remorse
Trustissues
Abraham Maslow (1908-1970)
Created Maslow's Hierarchy of Needs,
a psychological theory based on fulfilling innate human
needs in priority, culminating in self-actualization.
Safety
Belonging
Esteem
Self-Actualization
Basic needs
Basic needs: keep it Simple
24% of the top 100 grossing websites don’t
offer their customers a Guest Checkout
option, but force them to create accounts
Source: Smashingmagazine 2012
Basic needs: keep it Simple
Takes longer Consumers hate passwords!
****
Perceptionof privacy
Offline stores don’t request registration
“creating an account”
turns a fun shopping experience
to something complicated…
Safety: Give Your Users Peace of Mind
42% of consumers have stopped or
abandoned a purchase on a website because
of a safety or security concern.
Source: Marketing Charts
Safety: Give Your Users Peace of Mind
Blue creates a sense of trust
and safety, and is often used for branding banks
and businesses.
Source: Marketing Charts
Its all about Perception
Source: Kissmetrics
Belonging: Create a Famil iar Environment
Repeat online purchasers spend
23% more money over time!
Source: Clickz
iTunes purchase creates an experience similar to the one returning customers get, even when its their first time purchasing from a specific app
Creating a standard experience without getting creative will give the user a sense of familiarity almost like he’s a returning user
Belonging: Create a Famil iar Environment
Source: Comscore – the multi screen path to purchasing October 2013
40% of consumers would shop with a retailer
which enables The option to conduct
one-click checkout online
Leverage the advantages of being a returning customer
If your users took the time to create an account, reward them with a better experience
Esteem: Let them run the showEsteem: Let them run the show
49% of consumers consider having a variety
of payment options important.
Source: Comscore: Choices, Channels and Convenience, Sep 2013
Shift control to the user – letting the consumer choose between options turns him from PASSIVE to ACTIVE
Reach global users – different forms of payment enable commerce in different geographies
Esteem: Let them run the showEsteem: Let them run the show
3% purchased3% purchased30% purchased30% purchased
Source: Columbia study
A Columbia study showed that giving consumers too many options can be confusing and lead to less purchases; Offer only those methods that your users would look for a and would perceive as valuable
Self-Actualization: Respect Your Users32% of websites automatically sign up their
users for their newsletter during the checkout
process with no way of opting out
Source: Smashingmagazine 2012
“ It ’s less stressful (no sales people
hunting you down)”
Your users are shopping online for a reason, make a minimal effort to give them what they came for….
Self-Actualization: Respect Your Users50% of websites ask for the same information
twice instead of pre-filling
it from previous steps
Source: Smashingmagazine 2012
“To save time”
Our Interpretation of a People-Focused Checkout
One Click Guest Checkout across two different Magento websites
1st time payment 2nd time payment
Create a secure look and feel to provide a sense of trust
Give your users credit and treat them with respect
Offer multiple payment methods according to your region
Facil i tate a simple checkout, avoid forcing the user to create an account
Create a familiar environment, don’t get too creative
Some Takeaways:
