The first step in any eCommerce marketing plan is attracting visitors to your site. Unfortunately, that’s not the end of the story. Once you’ve got visitors to your site, you have to persuade them to add a product to their basket and click the Checkout Now button.
For this article, I’ve collected 7 eCommerce Payment Mistakes that will ruin your conversion rate and cost you money.
7 eCommerce Payment Mistakes Costing You Sales
1. Live chat
This year everyone has been talking about how good chatbots will be in the future. Well, at the moment, there’s no beating a good, old-fashioned human. When implemented correctly, live chat can have a significant impact on your conversion rates.
In a recent blog post, Neil Patel explained why the simple feature can have such a big impact.
“Before live chat, you had two main options to contact companies if you had any questions: phone and email… Phone calls could turn into a game of “listen to the automated prompts, press the right keys, and wait for 10 minutes… Email is great, but it often takes a business a few hours or even a few days to respond.
“Now, instead of dialing a number or composing an email, you can type a quick message into the chat box and have it answered almost instantly.”
2. Clear CTAs
Bricks and mortar stores are very different to eCommerce websites. In a physical store, you can have lots of different sections, lots of different products in those sections and a handful of different services scattered around. People will wander around or ask for directions until they find what they’re looking for.
But where you’re online, things are very different. Customers need clear Calls to Actions (CTAs) that tell them exactly what to do.
I recommend you have one single main CTA on each page that eases your customer down the conversion funnel. OptinMonster actually created a great guide to CTA design, which is available here.
3. Social proof
This is another big point of difference between eCommerce website. In a store, you’re surrounded by other customers who work to ‘prove’ the authenticity of the business. Online, however, you’re on your own, which can leave customers wondering if the business behind the website is legitimate or a scam.
Social proof is basically anything that highlights an existing customer’s experience (case studies, testimonials, reviews, etc.) with your business and it works to counteract this worry.
4. Payment options
Ten years ago, the eCommerce industry (and online payments more widely) was still in its infancy. Online businesses could get away with offering the bare minimum of payment options — credit and debit card payments — as that was all people expected.
Nowadays, things are different.
According to Stephen Hart of Cardswitcher, there are hundreds of different payment options and customers always expect theirs to be supported.
“In the UK, there are about 200 alternative payment methods. Think direct debits, digital wallets, cryptocurrencies and so on. If a customer can’t pay with their preferred form of payment, it’s likely that they’re going to leave and go elsewhere.”
Thankfully, you don’t need to offer every single payment method. Stephen recommends you ask your customers what methods they use and make sure they are all supported on your website.
5. Detailed copy
In a physical store, you can employ sales staff to schmooze potential customers with sales patter and close the sale. When your business operates through a website, it’s your product pages that do the schmoozing.
While a simple two-line product description is a good start, you really have to invest in high-quality, detailed copy if you want to supercharge your conversions.
6. Delivery charges
The most annoying thing for an eCommerce business is shopping cart abandonment. Someone has obviously liked your business and products enough to add them to their basket — but not enough to actually complete the deal.
According to the Baymard Institute, the leading cause of cart abandonment is extra shipping costs. And who can blame them? You get to the final step and then find out your bill is significantly larger with added postage fees.
It’s almost always more effective to build shipping costs into the headline price of your products as customers really hate paying for ‘admin’ costs like shipping and handling.
7. Guest checkout
No one wants to complete a twenty-page signup form just to buy some new jeans. It’s ridiculous and antiquated and is ruining your conversions. Wherever possible, include a guest checkout option to allow customers to buy with minimum fuss.
Hope this article provides the top 7 eCommerce Payment Mistakes that will ruin your conversion rate and cost you money. If you have any doubts or suggestions feel free to drop them in comments below.