Braintree Payments and Online Retailer\\ A Match Made in Heaven
Braintree just had the privilege to be involved with the 3rd Online Retailer in New Zealand last month. During a day filled with networking, learning and inspiration, we have gained greater insights into what retailers in both NZ and Australia are struggling with, and are even more excited about the opportunities of online retailing in our region.
It appears clear that consumers are increasingly reaching for their laptops and smartphones to purchase everything from hard-to-find gifts to everyday services. With the traffic moving online, optimizing your e-commerce site for conversion should be a never-ending cycle.
We have outlined four meaningful e-commerce tips to ensure an immediate conversion boost.
1. Make it mobile
According to Mastercard’s Mobile Payment Readiness Index, New Zealanders’ willingness to use mobile payments exceeds the global average. As m-commerce continues to grow, it is critical to make the buying and checkout experience as smooth as possible.
On mobile phones, friction is exacerbated by smaller screen sizes and less reliable data connections. Studies have shown that you could be losing up to 7 per cent of your customers for every one-second delay in your checkout experience. Remove any superfluous input fields, eliminate unnecessary screens and scrolling, and ensure your checkout flow fits within the smaller screen size.
2. Speedy Shipment
In today’s age of instant gratification, consumers expect goods to be delivered at short notice. With plans for Amazon to expand in the region, retailers will be pressed to compete with the same-day delivery timeframes that have become the norm in other markets. Increase your sales conversions by partnering strategic logistics providers and investing in instant delivery services.
3. Overseas but not complicated
It is no surprise that extending your services to overseas buyers will increase opportunity. By understanding the local markets and festive seasons, you will be able to take advantage of buying cycles in other countries.
However, cross-border shoppers are even more cautious and abandonment rates are higher. Build trust with your cross-border customers by providing them with a “local” buying experience. For example, offering them the option of paying in their home currency and providing relevant payment methods can help to improve your sales conversion.
4. Customers are busy, make it easy for them!
Merely meeting customer expectations is no longer enough. Creating an experience that requires very low effort from the customer is the factor that has the largest impact on customer retention numbers.
From browsing and account sign-up, to checkout, delivery and issue resolution, successful online retailers make it simple and quick for their customers. One easy tip to implement is to save your customers’ details for future use. This includes your customers’ order preferences, shipping address, and payment information.
The devil is in the details. The more personal, intuitive and easy the shopping experience, the greater the impact on your bottom line.
Contact Braintree: Find out how you can create a more seamless shopping experience.
Head of Sales – Asia
Braintree, A PayPal Service