E-commerce has changed the course of the business industry to a whole new level. Even smaller online businesses now have the means to reach out to international customers that only established retailers used to enjoy. Both small and large retailers are diving deeper to the reap the full benefits of e-commerce. The competitive edge of established retailers is that they have already made a name and spread influence in the e-commerce space while smaller businesses, on the other hand, often need to run some tests and experience failures along the way before they can perfect the online shopping experience. To perfect every aspect of an online shopping experience can be overwhelming and a bit costly for smaller online businesses.
Notwithstanding that fact, there are some areas that these merchants can direct their attention to in order for their small business to be profitable. For starters, the payment experience is one of the biggest factors that contribute to purchasing decisions of customers. For online merchants, here are some extremely helpful ways to improve the e-commerce experience of your customers.
Enable frictionless payments
Online consumers want to conclude their purchases with as few clicks as possible. Your online store’s payment process should allow exactly that. For a smoother and less hassle transaction, avoid redirecting your customers to another page or gateway. Rather, choose a gateway that makes it possible to finish all purchases within your e-commerce site or the mobile app version. Another way to improve payment process is to have a progress displayed on checkout pages or screens so that users can be guided as to how far along they are in the final step. Additionally, avoid mandatory registrations before users can complete their orders. This concern is actually one of the reasons why cart abandonment rates are significantly higher. To rectify, you can allow unregistered customers to checkout as a guest and provide them with an option to register or nor after completing their purchase.
Improve security and fraud prevention
Nowadays, there has been an alarming increase of online frauds and reaches over the internet, which explains why shoppers are becoming more hesitant in providing their details online. In fact, when customers cannot trust your store with their credit card or bank account details it leads to cart abandonment. Aside from providing ample security assurance, you can also encourage them to buy from you by securing the entire checkout process. This includes using AVS or CVV to verify further the identity of a person claiming to own a credit card. You can also work with a respectable payment processor that has complied the PCI DSS standards for a tighter site security. Furthermore, partner with solution providers that will help reduce the risk of fraud to provide another layer of protection to your bottom line and also keep your customers’ data from being hacked.
Accommodate consumers’ preference with various shopping methods
These days customer no longer use the desktop as a sole device for online shopping but are now using their mobile devices for a more convenient shopping experience. This is why it is important for your online store to be optimized for both desktop and mobile site versions because consumers will want a consistent experience across all devices and channels.