How to increase checkout conversion rates for your business

In the ecommerce industry, it’s no secret that everyone wants to sell more. Whether it’s through social media, through user reviews, offering discounts, or showing how many items are left in your inventory to entice consumers to buy, there are many ways to sell.

Most importantly, if you manage to get people to click the buy button, you need to be able to checkout first. And the checkout is crucial for conversion.

The likelihood of a conversion increases as customers get further along the purchase journey, and that likelihood is over 80 percent when a consumer makes it to the checkout page. So in theory, customers will most likely buy if your checkout is good.

So what can be done to ensure your checkout is set up to increase your conversions?

keep it simple

The more trouble your customers have navigating your website, the less likely they are to buy. But when it comes to the checkout, the more fields and steps a checkout has, the less likely people are to convert.

Therefore, keep the checkout simple and streamline the number of fields or pages by only asking for the information necessary to complete the transaction. Use clear, everyday language on the checkout page that is consistent with the language on the rest of your site.

Be honest

Trust is key with payments, so being honest with your customers is essential. Pricing should be transparent at all times so there are no surprises at checkout. 48 percent of shoppers abandon the cart because of additional costs like shipping, taxes, and higher fees than expected.

The solution? Inform customers of estimated fees ahead of time.

Make it safe

Shoppers don’t just want simple and honest checkouts that are easy to navigate. They also want to feel safe when shopping online.

Also Read: How to Scale Your DTC Game with Payments

On the merchant side, it is estimated that online fraud can cost merchants over $12 billion annually. Your cash register must therefore be secure. Artificial intelligence can be used to deter scammers without discouraging real customers. Displaying a safety label, e.g. An SSL certificate, for example, which means your website is authentic and connections to it are encrypted, can also help reassure customers.

Diversify your devices

We live in an era where shopping on mobile devices, including laptops, phones and tablets, is the norm. There are around 15 billion mobile devices around the world and you need to make sure your shopping experience works seamlessly across all devices, including at the checkout.

The right payment methods

This may seem obvious, but you need to offer your consumers the right payment methods at checkout. The “right” payment options are those that your customers use and want. Since preferred methods change depending on your location in the world, you need to know how people like to pay wherever you sell.

77 percent of online purchases in 2021 were made with local payment methods (LPMs). For example, a popular LPM in Singapore is GrabPay, while in Indonesia GoPay and Kredivo are preferred options that are part of the payment mix.

How to know that you have successfully completed the conversion

Ecommerce is complex and getting everything right at the checkout isn’t easy. By considering all of this and putting yourself in your customers’ shoes, you can make their online shopping experience as seamless and easy as possible, ultimately increasing your conversion rates and realizing the sales you’re aiming for.

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