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Evolving eCommerce: The Magento eCommerce ForumCHECKOUT PROCESS OPTIMIZATION:
11 STEPS TO INCREASING REVENUE NOVEMBER 2012
November 2012 2
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
November 2012 4
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
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
• 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?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 6 November 2012
POLL #1
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 7
The average checkout consists of 5.08 steps…
24% require account registration
50% asks for the same information twice
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 8 November 2012
POLL #2
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 9 November 2012
STEP #1 ENSURE PAGES LOAD QUICKLY
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 10
Walmart.com: Converted shoppers received pages that loaded 2X faster than non-converted shoppers…
http://groov.co/UHmDDq
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 11
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?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 12 November 2012
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?
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 13
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 14 November 2012
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
November 2012 15 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 16 November 2012
STEP #4 PROVIDE CLEAR PROGRESS INDICATORS
Examples include: • 25% done
• Step 1 of 3
• Billing à Shipping à Payment à Summary
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 17
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 18
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 19 November 2012
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
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 21 November 2012
STEP #6 PROVIDE CLEAR CALLS TO ACTION
November 2012 22
• 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
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 23 November 2012
STEP #7 MINIMIZE OTHER NAVIGATION
• Remove anything not needed • No distractions • Use jQuery popups for assurances
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 24
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 25 November 2012
STEP #8 PROVIDE A GUARANTEED
SHOPPING EXPERIENCE
November 2012 26
• Provide reassurances of personal information security
• Merchant is reliable and underwritten by 3rd party
• Customer is getting the best price
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
November 2012 27
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.
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
November 2012 28
• 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
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
November 2012 29
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
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
November 2012 30 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
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Prevention
Resolution
Information Security
Merchant Reliability Price
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 32 November 2012
STEP #9 PROVIDE HELP OPTIONS
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 33
• 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?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 34 November 2012
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
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 36 November 2012
STEP #11 PROVIDE A FINAL SUMMARY
November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 37
• Provide a full summary before final submission so customers can ensure they entered everything properly
• Include order number • Contact information
• Social icons
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 38 November 2012
POLL #3
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 39 November 2012
BONUS: STEP #12 CONSISTENTLY REVIEW DATA
November 2012 40
• Review funnel tracking data • Refine & test top exit areas • 2 types of testing & analytics
• Single page • Site-wide
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue
Why Magento?
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 41 November 2012
POLL #4
November 2012 42
www.groovecommerce.com/webinar
Questions? Contact Us [email protected] | (888) 924-1951
Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue