In a letter to a young tradesman, Benjamin Franklin wrote a line that has stood the test of time “remember that Time is money.” Clearly, this founding father knew a few things about making money. If Franklin were alive today, we wouldn’t be able to write this guide because surely, he would school everyone when it comes to a 5-step checkout funnel that converts.
“What, you thought Washington deserved to be here? The dude was fiscally irresponsible.”
Now, when it comes to making money, did you know that the more time shoppers “waste” during the checkout process, the higher the chance of an abandonment? In other words – lost revenue. It’s a bummer to have that happen after all the time, effort, and money that you put into getting shoppers this far into the purchasing process.
In fact, overly complex checkout processes are responsible for 28% of abandonment. If that number doesn’t seem like a lot to you, consider the following example. You are the proprietor of a pizzeria that sees at least 100 people walk in every day to order pizza at $20 a pie. Every day at least 28 of them get to the counter, contemplate ordering, and then leave. That’s $560 per day in lost revenue and $204400 over an entire year! Assuming the other 72 people order a pie, then that comes out to $525600 a year in revenue. The loss from just those 28 abandoners is equivalent to nearly half the money you are already making. It would be crazy to not put any effort into understanding why these shoppers are leaving, and upon discovery of the reason not do anything about it.
To save shoppers time and combat cart-abandonment, we compiled 15, no, 5 steps to a checkout process that converts.
Step 1: Offering Guest Checkout is Not Optional
So, your shoppers have clicked on the “proceed to checkout” button. The first thing that should greet them is the option to either sign in, create an account, or checkout as a guest. But don’t hide the guest checkout option – it’s critical that it remains visible, so they can select it if they wish.
A staggering 37% of abandonments are caused by retailers that demand shoppers create an account to complete their purchase. That is a LOT of lost revenue, and it reflects poorly on retailers that make such a demand. Let’s face it, none of us want to have to sign up to yet another account just to submit my order! Just take my money already!
Step 2: If You Want Email – Ask, Explain, Reassure
So, your shopper has chosen to check out as a guest – that’s great! But what if something distracting comes up, such as an alien invasion or a Unicorn spotting? Anyway, it’s good to prompt them for their email as the very first thing to fill out.
Some shoppers are hesitant to provide their coveted email address. So, explain why you need their email with a short message such as “we just need to keep you in the loop about your order.” Kindly point out the fact that they are not going to be signed up for your email newsletter’s and special offers (unless they want to) or have their email shared with 3rd parties.
This explanation helps shoppers build trust in you as a retailer – so long as you keep your word. Furthermore, if they abandon for whatever reason, they can be sent a reminder to come back and complete their purchase.
Step 3: Autofill Is Your Silent Partner
Most modern browsers feature time-saving autofill features that automatically fill in a shopper’s details when they are asked to do so. Yet for some inconceivable reason, there are websites that actually block this feature from functioning properly, if at all. And that is simply bad for business.
So, if for some reason your site doesn’t allow shoppers to use autofill when it comes to their information, make sure to amend this transgression today.
Step 4: Short Forms Are Friendly Forms – 1 Step Checkout
The form field is where a lot of eCommerce retailers make a fatal, revenue killing mistake. What typically happens is that many websites will split up their detail forms across multiple pages. It adds unnecessary frustration to the experience and heightens the risk of the website crashing while they are trying to go through checkout.
When shoppers go through the checkout process on your site, it should be effortless. The best way to do this is to limit the number of pages at checkout to 1 single page, with no more than 12 fields that need to be filled out by the customer. Those fields should only concern their name, address, city, state, country, contact info, payment details and finally, a “submit order” button.
Step 5: Be the Form Sherpa
What’s the difference between a sheepherder and a Sherpa? The former makes sure the sheep go to the right place to graze, even going so far as to carry them if need be. The latter points people in the right direction to help them reach the summit.
No matter how simple your forms are, they should still include symbols or colors that denote critical fields. If those forms provide a prompt when data is entered incorrectly, that’s even better. Seriously there is nothing more annoying than hitting “submit” on a page only to get a vague and rather ambiguous error informing you that one of the fields wasn’t filled and or data was entered incorrectly, without any sort of indication as to where you went wrong.
By following the steps in this guide, you will increase your shoppers ease of use throughout the checkout process and boost your sales. Both of these things are really good for any business. To recap the steps, here is an itemized list for your convenience.
- Offering Guest Checkout is Not Optional
- If You Want Email – Ask, Explain, Reassure
- Autofill Is Your Silent Partner
- Short Forms Are Friendly Forms
- Be the Form Sherpa
Cart, Search and Browse abandonment. Let’s face it, most cart abandonment tools require shoppers and customers alike to be logged in with an account at the time of shopping in order for the tool to retarget them back when they abandon their cart. With average abandonment rates hovering around the 70-90% and with over 70% of shoppers and customers browsing your site and checking out under guest mode and “not logged in” you are missing out on a lot of money. Let’s repeat that’s A LOT OF $$$!!
Well, let’s put a screeching stop to that severe loss of revenue right here, right now!
Unlike traditional “cart abandonment platforms,” Datacrushers does not require shoppers and customers to be logged-in for us to identify them and then send the various campaigns. In fact, we identify 80-90% more abandoners site wide and use Machine Learning and Artificial Intelligence to identify and recover revenue loss and discover new revenue sources across any site.
Datacrushers uses a wide range of data-driven and analytics based conversion tools to target the shopper at the right time with the most accurate and effective campaign to drive the sale.
Datacrushers is platform, language, and currency agnostic and requires only a few lines of code to get started therefore delivering an ultra-fast go-to-market with minimal set-up time and tech intervention. Based out of New York, Datacrushers has clients worldwide including, The US, China, Russia, UK, Germany, and more.