Five ways to boost checkout conversion rates
2 min read
These days, the abundance of e-commerce websites means that merchants need to carefully track the checkout page conversion rates of customers who shop online and optimize that rate so they can increase their profitability. Conversion rate refers to the percentage of customers that take a desired action – in this case, it refers to the percentage of customers who complete the shopping cart process and make a purchase. However, according to research done by Baymard, shopping cart abandonment is common – almost 70%of people abandon their online shopping carts before completing a purchase. Here are 5 checkout page best practices to boost conversion rate.
Why is this?
Results shown by the Baymard survey reveal that 61% of customers abandon their shopping carts because the extra costs (shipping, taxes and fees) are too high, while 35% abandon because websites require them to create an account. Alongside this, 27% leave their carts due to the length of the checkout process, 24% because they are unable to see the total cost upfront and 18% because they didn’t trust the website with their payment information.
In other words, after customers spent browsing a website, choosing which products to buy, adding them to their shopping basket, 7 out of 10 customers stopped because they feel uncomfortable proceeding.
With this in mind, there are several ways to optimize an e-commerce website’s shopping cart process to increase conversion rates.
1. Convey free shipping and free returns.
It's easy to be apprehensive when making a purchase online. You don’t get to physically see the product before paying and you enter in payment information trusting that the correct security measures are in place.
When an online store clearly states that shipping and returns are free, it can lead to an improvement in conversion rates. By taking this step, a business can build trust with the shopper, give customers more confidence in their purchase and convey a risk-free experience should they change their mind about the product.
2. Allow customers to buy without creating an account
Customers who buy online can often be wary of sharing their personal data which includes any information that they need to provide to create an account in the first place, like names, email addresses, phone number and other personal details.
Allowing customers to make purchases without creating an account can improve conversion rates. By removing this barrier to purchase, customers can more easily flow through the buying journey with fewer interruptions. Also, shoppers may not feel comfortable sharing their personal information or prefer to avoid unwanted solicitation by keeping their personal information which may prevent them from completing the transaction. While it is useful to collect shoppers’ data, removing this step will give your customers a faster, more convenient way to complete their purchase.
While it is useful to collect personal data, removing this step can entice a browsing customer to complete their purchase - simply because the process is faster and more convienent.
3. Use a single-page checkout process
A single-page checkout process does exactly what it says and can boost conversion rate. All the required fields are included on a single page making it easier for customers to complete purchases and without having to navigate through multiple tabs and windows.
4. Make forms quick and easy to complete
Having a form that is too long or complicated can have a negative impact on conversion rates. Customer who are ready to make a purchase can often get frustrated and abandon the process if faced with too long a form. By keeping forms short and simple, and asking only for the essential information, the amount of time it takes to make a purchase can easily be reduced, making a sale more likely.
5. Entice your visitors back with retargeting ads
Retargeting ads refer to ads that specifically target people who are already familiar with a website, such as consumers who have previously visited or shoppers who got halfway through the shopping cart process and left without buying. Due to their familiarity with the website and the products, they are more likely to return than somebody who has never seen the website before, making them the most likely reciepents of these adverts.
Bonus tip: Convey safety and security
In today’s world, fraud and identity security are a major concern for online shoppers. By conveying to your customers that their payment information and contact details will remain secure, shoppers will have more confidence in making the purchase. Payment solution providers like Checkout.com offers fraud monitoring to merchants so businesses can feel confident in their transactions.
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