4 Ways To Streamline Your Payment Process And Increase Sales
Here is a list of 4 ways to streamline your payment process and increase ales when it comes to your business bottom line – profitability! Every business is concerned about their profit after expenses. In this contributed article, we will see how we can get things moving in that direction.
Cart abandonment is a massive problem for businesses.
Cart abandonment is a massive problem for businesses.
Some estimates suggest that up to 75 percent of shopping carts are left without the customer actually making a purchase. That’s bad news for you so you’ve got to do something about it.
There are a lot of different reasons that it might happen but one of the biggest is a bad payment process. If you’re making your customers jump through hoops to buy your products, they’re way more likely to just leave it instead.
It’s also an issue with brick and mortar stores as well. It’s not as big of a concern as it is in the online world but if you’re making people wait in line for too long, you’re giving them far more time to rethink their purchase and walk out of the store.
If you’re having a problem with cart abandonment, here are some simple ways to streamline your payment process and make life easier for your customers.
Integrate Your Equipment
When you’ve got one machine for:
- generating the bill
- one for taking the payments
- and another for printing receipts, you’re just making things way more complicated than they need to be and things are going to be a lot slower.
In the past, you didn’t have an option but now there are some great payment platforms that combine all of those different processes in one, easy to use machine.
It’s a totally new way to run a business and take payments from your customers. It’s easier for them and it’s easier for your staff so everybody wins. If you’re using outdated equipment, your customers are going to be waiting in line for too long and you’ll lose a lot of sales.
Storing Details
Nobody likes typing all of their details in before they buy something. It’s a real pain and if you’re making customers do it every time, they might just decide not to bother instead.
You can’t avoid it the first time, but you should always be giving them the option to save and update their details for every purchase afterwards. That way, they can go from browsing to buying in a matter of seconds without the time to think twice about their purchase. This is one of the great ways to streamline your payment process.
Mobile Devices
The number of people using mobile devices has now surpassed the number of users on desktops and laptops which means most of your customers are probably using their mobiles and tablets to make purchases. If your website isn’t optimized for mobile and you haven’t got a compatible payment platform, you’re going to lose a lot of customers.
International Payments
It’s important to think big when you start your own business and that means eventually expanding into another country. That’s great but you’re never going to break into those new markets if those customers can’t make purchases in the first place.
That’s why you need to make sure that you’re set up for international payments. The credit card companies that people use abroad are going to be different to the ones that you use at home so you need to make sure you support them all.
If you can streamline your payment process, more of your customers will follow through with purchases. And this will mean a good profit line for your business eventually.
Images courtesy of Pixabay.
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