The payment funnel is a crucial aspect of your business website; you need to make sure it is well-designed and has all the elements in place to secure payments and instil trust and confidence in your customers. In the article below, you can find some simple and effective ways to improve your payment funnel and turn prospective buyers into loyal and familiar customers.
Improve Checkout Form
Improving your payment funnel is all about balance and understanding your customer. Depending on the product and the customer’s mood, they might be more or less inclined to buy a product. If they are in two minds, your payment funnel needs to encourage them the right way.
The last thing you want is for your potential new customer to abandon the checkout form because it’s too long or asks for unnecessary information. Pare down your checkout form as much as possible and make sure you have th essential details for the payment and no more.
Use Consistent Branding
When customers are spending money online, they need to feel confident that their transactions are secure and going to the right place. If you don’t have company branding on the checkout page or you use a third-party service, it can make your customers nervous and lose their sales.
Instead, inspire confidence in your customers by creating a checkout page with company branding on it. Again, this branding doesn’t have to be extensive; as long as it looks official, it should help to inspire more trust in your customers and lead to more profitable outcomes.
If you want your payment funnel to be more effective and you operate in overseas markets, you need to localize. Localization is the process of adapting to the local market environments and translating services into colloquial language and effective copy for the culture you are selling in.
Studies show that businesses with localized payment funnels are more likely to get conversions over the line, thanks to their efforts. A localized website tells users that the business understands their needs and should provide a quality product and service. Again, it’s about building trust.
A word you would do well to keep in mind when designing your payment funnel is “frictionless.” getting customers over the line is a balancing act where one wrong move can result in them navigating away from your page. So make their experience as easy and frictionless as you can.
One way to create a frictionless payment funnel is to add multi-currency options. A simple dropdown menu that gives customers a choice to pay for goods and services in their own currency means they know the total amount to pay and shows the brand cares about the user experience.
Selling products to new customers is what it’s all about, but the post-sale customer experience is just as valuable. Once you have a customer on your email list, it becomes a customer retention project. Retaining customers support the long-term growth strategy of your business.
After you sell a product, offer customers a service to securely store customer credit cards. With a single click, customers can store their card details securely on your website, making it easier for them to repeat their orders. For this to be successful, you need to inspire trust in your buyers.
Display Total Cost
Many websites and online services don’t offer transparent pricing; instead, the customer is surprised by the amounts taken from their bank accounts because they didn’t count on VAT, hidden shipping costs, or expired discounts. That’s why you need to display the total cost.
Displaying a total cost to your customers helps them to hit the buy now button and put the payment through. This system also helps to inspire more trust in your brand because it shows you have a transparent pricing strategy, and you aren’t trying to rip anyone off in the funnel.
Customers get nervous when they are in the payment funnel for the first time. If everything goes to plan and they receive their goods without any issues, chances are they will trust the payment funnel next time around, but at first, you need to support their process by building confidence.
One way to do this is by providing a navigation map at the top of the screen. A navigation map tells customers how many steps they have in the payment process and where they are currently located. Help to guide your customers through the payment funnel, and they will reward you.