Download pdf - [Webinar November 2012] Checkout Process Optimization: 11 Steps to Increasing Revenue

Evolving eCommerce: The Magento eCommerce ForumCHECKOUT PROCESS OPTIMIZATION:

11 STEPS TO INCREASING REVENUE NOVEMBER 2012

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Ethan Giffin CEO

Groove Commerce Speaker

Mack McGee VP Sales & Marketing

Groove Commerce Host

Webinar | Magento SEO Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue

Shane Lundy VP, Sales & Business

Development buySAFE Speaker

November 2012 3

Our goal is to bridge the gap between marketing and technology and deliver a user-friendly, high converting product to each one of our clients.

Services include: •  Website Design •  Magento Development & Integration •  Inbound Marketing Services

•  Social Media Marketing •  Pay Per Click Management •  Search Engine Optimization

•  Email Marketing •  Site Analysis •  Conversion Consulting

www.groovecommerce.com 800.564.9826 @GrooveCommerce

Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue

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buySAFE enables online merchants to provide a third-party Guaranteed Shopping program which increases confidence and buyer satisfaction. Merchants use buySAFE Guaranteed to increase:

•  Website Conversion •  Order Value •  Repeat Buyers •  Website Sales (20x ROI GUARANTEED)

www.buysafe.com 888.926.6333


•  Why Your Checkout Process Matters •  11 Checkout Optimization Steps •  Importance of Customer Assurance •  BONUS Step •  Q&A

November 2012 5 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue

Why Magento?

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POLL #1

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The average checkout consists of 5.08 steps…

24% require account registration

50% asks for the same information twice

Why Magento?


POLL #2

Why Magento?


STEP #1 ENSURE PAGES LOAD QUICKLY


Walmart.com: Converted shoppers received pages that loaded 2X faster than non-converted shoppers…

http://groov.co/UHmDDq


1.  Turn on compression

2.  Remove unneeded code & files

3.  CDN hosting

4.  Use Google jQuery scripts

5.  Full-page caching

6.  Track server errors & performance (New Relic)

Why Magento?


STEP #2 OFFER GUEST CHECKOUT WITHOUT

REGISTRATION

•  8 of the 10 top US eTailers offer it •  25.6% of online consumers would abandon

a purchase if forced to register [econsultancy]

•  Average cart abandonment is 65% •  Why risk it?


Why Magento?


STEP #3 KEEP FORMS SHORT

•  Don’t Ask if You Don’t Need •  Don’t Ask for Answers You Already Have •  Pre-Populate Fields if You Can •  Maintain Form Data if Errors Happen •  Especially Important for mCommerce


Why Magento?


STEP #4 PROVIDE CLEAR PROGRESS INDICATORS

Examples include: •  25% done

•  Step 1 of 3

•  Billing à Shipping à Payment à Summary



Why Magento?


STEP #5 PROVIDE SHIPPING COSTS

EARLY AND OFTEN

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•  Show the final price before checkout •  Confirm availability •  Removes customer concerns •  Set expectations •  Reassurances if anything goes wrong


Why Magento?


STEP #6 PROVIDE CLEAR CALLS TO ACTION

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•  Differentiate checkout/continue shopping button colors

•  Make next step button obvious >> •  Customers should be clear on how to

proceed to the next step in the checkout

•  Enable backtracking without losing form data

•  Test color & font options


Why Magento?


STEP #7 MINIMIZE OTHER NAVIGATION

•  Remove anything not needed •  No distractions •  Use jQuery popups for assurances


Why Magento?


STEP #8 PROVIDE A GUARANTEED

SHOPPING EXPERIENCE

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•  Provide reassurances of personal information security

•  Merchant is reliable and underwritten by 3rd party

•  Customer is getting the best price


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The structure of the Internet creates a disconnected purchase experience and shopper concerns:

73% of consumers say that shopping online is RISKIER than shopping offline. - Visa/CyberSource

98% of consumers will bounce from the site and make the purchase elsewhere.


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•  High hassle factor with problem resolution •  Heavy reliance on merchant performance •  Plethora of choice equals price

uncertainty •  More perceived risks to personal

information security & privacy


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1.  Will my personal information (identity) be kept safe & secure?

2.  Will the product be authentic, arrive on time and if there is a problem, will the merchant provide great customer service?

3.  Am I getting the best price?

“64% of identity theft originates online” - US Federal Trade Commission

“83% of online users worry about their identity being stolen from an online purchase”- VeriSign

“92% of shoppers have concerns when shopping on new and unknown websites“ - McAfee Security

“61% of all complaints are for merchant non-performance” - National Consumers League

“45% of shoppers view price as most important”- BizRate Research



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Prevention

Resolution

Information Security

Merchant Reliability Price


Why Magento?


STEP #9 PROVIDE HELP OPTIONS


•  Make phone easy to Find

•  Extend customer service for peak holiday times

•  Don’t make users leave cart to live chat

•  Proactive chat with your best customers

•  Cart-based rules for chat (Velaro)

Why Magento?


STEP #10 MULTIPLE PAYMENT OPTIONS

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•  Different payment methods help appeal to as many potential customers as possible

•  Leads to increased sales & revenue


Why Magento?


STEP #11 PROVIDE A FINAL SUMMARY


•  Provide a full summary before final submission so customers can ensure they entered everything properly

•  Include order number •  Contact information

•  Social icons

Why Magento?


POLL #3

Why Magento?


BONUS: STEP #12 CONSISTENTLY REVIEW DATA

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•  Review funnel tracking data •  Refine & test top exit areas •  2 types of testing & analytics

• Single page • Site-wide


Why Magento?


POLL #4

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www.groovecommerce.com/webinar

Questions? Contact Us [email protected] | (888) 924-1951
