Reimagine your Payment Strategy to Create Seamless Checkout Experiences in 2023
Payment, though the last step of check out process is an integral part of the eCommerce business. A seamless check-out experience is essential to reduce abandoned carts and keep your customers returning.
In the wake of using ever-evolving technologies like AI and automation, today’s customers enjoy the most personalized and streamlined shopping experiences. But customers expect convenience at every step of their journey, especially checkout. A cumbersome checkout process or a lack of preferred payment methods can drive customers away.
To ensure that doesn’t happen to your Shopify store, here are ways to redefine your payment strategy to win back abandoned carts and increase conversion rates. Check them out!
1. Make payment simple, accurate, and safe every time
Payment is an essential part of the customer experience: it impacts your user experience, checkout conversion rates, and brand loyalty. It’s crucial that payments are special, accurate, and secure — each time. You should ensure your product and commerce teams have access to payment data and real-time visibility into significant metrics like conversion and cart abandonment rates, bounce rates, and net promoter scores. You can leverage the power of Salesforce CRM to create reports and dashboards easily from these data points and quickly spot patterns, in order to stay ahead of any issues. Shopify users can integrate their Shopify store with Salesforce in real-time using the Shopify Made Easy connector app.
2. Be flexible in adapting to new eCommerce payment preferences
In this digital age, it is essential for eCommerce businesses to be able to adjust to the ever-changing payment options. Keep your commerce platform up to date with the latest payment methods to create unique and engaging experiences for your customers. This not only increases your sales but also your customer loyalty.
3. Implement strong Fraud Detection and Prevention
As digital commerce continues to grow, so too does the presence of malicious actors. Almost 3/4th of fraud and data-breach incidents involve eCommerce merchants.
It is critical for businesses to have effective fraud detection and prevention measures in place. Your strategy should be able to accurately identify malicious activity without impeding legitimate purchases. Properly managing this balance strengthens customer loyalty and builds trust in your brand. If there are too many false positives and expensive manual reviews, customers may be disappointed, while inadequate security can cause the brand’s reputation to suffer.
4. Integrate payments across your entire platform and customer journey
Deliver seamless payments throughout the shopping journey and enrich the post-purchase experience for customers. Give them options to use their credit from the initial purchase, or switch to PayPal, Apple Pay, or gift cards for their exchange.
By providing the right payment solution, you can not only enhance the customer journey and boost loyalty, but also gain insights into shopper data and build trust.
Summing up, brands have to redefine their payment strategy to make checkout simple, fight fraudulence, and stay up to date with modern payment methods, all the while keeping the user experience in the spotlight in an unconventional and captivating way.
If you liked the update, stay connected with us for more such e-commerce insights. Also, if you need help setting up the Shopify Made Easy connector app, click here for a free demo!