Have you given much thought to the purchase process on your e-commerce site and not just what you’re selling? Well if you haven’t, you REALLY should be.
Given the pace of daily life for many people, juggling a busy work/life schedule, it should come as no surprise that more and more people are shopping on the go on their smartphones.
Anyone with an e-commerce business should know that the better you can make the user experience, the better conversion rates you are going to see, and that, at the end of the day, is what determines whether your business succeeds or not.
In 2017 there was an approximate mobile payment transaction value of $63 Billion. Predictions are that by 2020 this figure will likely be closer to $500 Billion.
In the United States, figures show that 27% of adults who abandon their shopping cart do so because the checkout process was too complicated or took too long. Simplifying the ordering process by making the transaction itself easy and limiting the amount of information you require from the consumer are two factors that will help ensure they complete the order. No one wants to be filling out a dozen different fields for their name, address, mobile number, email, how did you hear about us, etc etc, so using options such as address autocomplete and facilities such as finger print recognition for payment - eliminating the need to fill out fields with your card information - will all help to speed up the purchase process.
Security is another factor which is a concern for many people these days, as the improvement of data hacking software means your card details are not always as safe as you may think; in fact, 70% of people state that security is a concern for them in mobile payments. It is therefore important to reassure your customers that their information is securely encrypted and sent via a secure channel.
The importance of UX (User Experience) cannot be underrated, in fact it is estimated that by 2020 UX will surpass both price and product as the key brand differentiator for online shoppers. Now that is something that simply cannot be ignored if companies wish to remain competitive.
Offering a range of payment options is also important to the UX. Imagine your frustration if you got all the way to the checkout, only to realise that your preferred payment option wasn’t available. It is suggested that you should offer at least three card options, i.e. Visa, Mastercard, Visa Debit, along with a service such as PayPal.
In summary, let’s look at the key features of making this process as easy as possible for your customer to increase your chance of them completing their purchase.
- Streamline Transactions
- Simplify the process
- Be open with your security measures
- Offer a range of payment methods
While this is all just scratching the surface of what is required for an effective e-commerce site, it essentially outlines the foundations for the purchasing process.
As specialists in developing e-commerce sites, we partner with the best in the business to ensure your continuing success in your industry.