Payment Pain and eCommerce

Why all sushi is half price

Full, non-edited transcript by descript.com

Hi, it’s Clint Griffin, and welcome to reiterate, this week we look at checkout pain and how to streamline the process. Did you know that 90% of online carts are abandoned? A checkout? Imagine converting just 10% more of that into viable business.

It would double your turnover overnight. Let’s work out why people stop, why they leave and why they don’t come back.

So first step, there’s the idea of Hofbrau sushi, who in their right mind would pay full price for sushi? In effect, all sushi is half price.

So once they’ve made up their mind to buy something online, shoppers are extremely savvy. They look for the best deals that they can find. They do their homework, and once they found things that they think are the best price, they put it in their cart and they leave. Why. Because they waiting for a coupon to arrive in the inbox an hour later, 24 hours later, two days later.

If they don’t get that, because that has become the expectation, much like Hofbrau sushi, they’re not going to come back. What do you need to do? Well, first up, you need an autoresponder. Something like MailChimp will work where you can set up automated responses that see what’s in people’s boss.

Um, and then send them a followup email within an hour to 24 hours, showing the products they had and saying, Hey, Xapo, we know what you had in your basket. Come back and we’ll reward you with an amazing discount. It’s really simple stuff. It’s stuff that you expect. So be advised that your customer will expect it too.

But beyond that, it’s a adds value to the customer. It shows the customer that you care about them and it lets them know that you understand the game that they already playing. They are the experts in eCommerce. We need to catch up. So great. You got your shop set up, you’ve got an autoresponder set up, you’ve got customers coming back because they’re getting real value and they still don’t shop.

What is the problem. Well, the chances are you’ve made the checkout procedure way too hard. Think about getting to the checkout. You raring to go. You look at your screen and Whoa, how many fields are there? Where do I begin? Normally it’s one of those things where you fill in your name and your mobile number, your contact email address, and then your location and your suburb normally is an autofill that waits for a few seconds, fills in your details.

And it gives you a postal code. There’s not much you can do about that. That’s kind of integral to the way that the career services work you have to deal with at once off, but make sure that your customers can log in and not have to do that again. And if the billing address is the same as the delivery address, you 100% have to have a little checkbox that says, make my billing address the same as my shipping address.

Without that, I’m actually not going to be bothered and I’m going to leave.

Include things like VAT number include things like the company details. Because a lot of these purchases go through companies either for the company or for sole proprietors. It just makes the journey easier for them. It makes the purchase easier for them, and it obviously allows them to put things through size, which normally they would have to pay money on.

Um, businesses don’t like to make a profit. It’s trying to help them in that way.

So you’ve got the autoresponders set up, you’ve got the easy way for them to duplicate the billing address to the destination address, and now they come to pay. Now, I know the other week I said, um, try and keep it as simple as possible. Give them some simple ways to pay out, um, but perhaps look at that a bit deeper.

Give them the normal options. And EFT. The credit cards that we have, um, MasterCard and visa usually, and then look at the other ways that we can pay from a South African perspective. We have Zappa and snap scan, perhaps include both of those, the setup fees on minimal, I think zap is 100 bucks, snap scanners, nothing.

And your fees of the 3% that you would pay on any normal credit card. So make sure those are in place. Give customers the option to use the entire checkouts and let them get on their way. As simple and as quick as they can. Perhaps think of an MVP here as a minimum viable pain and just give the customers the option to pay in the way that they want to pay.

At the end of the day, it’s always about the customer and how they want to do things. Um, we going to make the experience as good as possible. It’s make payment as easy as possible as well. Okay. And don’t forget upfront to put the logos on the site of the various ways to pay. Let the customer see immediately that they have whichever option they want to pay as they arrive.

So not they’re not get, don’t get to checkout and get presented with, Oh, you mean I have to use my credit card? Or Oh, you don’t have this platform within that. Frankly, at the end, be happy state and not think about this as much as possible and let the thing almost be automated. So at the end of it, they come to the checkout, they swipe the card, they swipe the phone, whatever they need to do, and they leave, purchased and move on.

Deliver. Cause the keyword here is frictionless. We want to make it as frictionless as possible because the more friction you have, the more chances there are of the customer gang. Uh, no. I’ve had to think about this. I’ve just set up my details. I’d be processing in my background and I can’t afford this right now.

I might wait till the next month or I don’t need it at all. Um, we need to stop there kind of thought. We need to make it frictionless. We need to let them get on with it. Otherwise, we create opportunities for the customer to say no.

So we’re not going to have everything done. But, um, we can be pretty close to a decent solution as we can when we start. Um, the chances of being able to offer the customer the option to return a product if they’re not happy. Might be quite sore for a small business, but if you worked out your landed costs and your margin costs, they may be an option in there for you to be able to send us customers to send things back, because the word of mouth that you get out of doing something like that may fully outweigh the actual cost and the pain of having things returned to you.

Just think about the way that you would like to be treated as I saved, we can’t get them right. Upfront, but to try and think about that for a longer term strategy. Work out that you’ve got the right career company. Do some investigation. There’s a lot of different one else, different ones out there.

They do different things. They offer different solutions, but make sure that your customers can track the orders online. There is nothing worse than paying for something, getting a receipt, saying it’s paid for. And you wait not knowing where it is for a couple of days or a week and then suddenly it pitches up and of course you’re not home.

So make sure that there is a track and trace option available and try and implement that as soon as possible. The thing about this process is you can set up the site, you can have great customer service, you can have great feedback, you can have great products, but the one thing you can’t really control is your career company and they can have the biggest impact on the way that your business looks and the way that people talk about your business.

So really, really investigate that you’ve got the right guys on board to help you. And also don’t be afraid to shift. Think about who you, you’ve used in the past. Think about, um, asking friends and, and other people who they used and try and just see which one works for you. If you’re local, you may find a local solution only.

Um, if you’re doing national, you need to look at some of the bigger guys, but really make sure that that’s the one area you do your homework. Look at hello Peter. Look at all the kinds of places where these reviews on Korea companies and see which ones have a personal touch to them. Ones that do track and trace, ones that send out SMS as ones that phone customers to see when they’re going to be home or not.

Without that, you run the risk of being derailed by something that’s completely out of your control.

So one, click, checkout, abandoned cart, easy to navigate fields, simple ways to pay, or as many ways as possible to pay and choose your career company wisely.

That’s it for this week. Thanks for stopping by and I hope that you found it entertaining. Don’t forget to subscribe and listen for our show next week.