Payment links help reduce abandoned shopping baskets
Payment links allow you to get paid for sales, bookings and much more. But payment links are also great tools that can enable companies selling online to recover a customer whose shopping cart has been abandoned, simply, efficiently and securely.
Why do users abandon a shopping cart?
According to a study by the Baymard Institute, around 70% of all e-commerce shopping baskets are abandoned!
A shopping cart can be abandoned for a number of reasons:
High shipping costs
49% of abandoned shopping baskets are due to delivery charges that the buyer considers too high. It also turns out that information on delivery costs often arrives in the final stages, and the surprise is not necessarily to the liking of the Internet user, who may spontaneously put a stop to the purchase process.
Delivery times too long
When you make a purchase, you want to enjoy it as quickly as possible. If delivery times are too long, customers are likely to abandon their purchase in favor of a platform offering faster delivery, or to visit a store.
Too few payment options
The diversity of payment methods on offer has an impact on the shopping cart abandonment rate. If a platform only offers cash payment by card, it runs the risk of disappointing many customers who will not complete their purchase. In addition to credit cards, there are other payment methods such as bank transfers, or payment in instalments or deferred payment, all of which are natively integrated into Obvy's payment links.
A complex, not to say complicated, purchasing process
The buying process is crucial. The more steps you take, the more you lose. The same applies to the wealth of information provided during the purchasing process: being too exhaustive will lose the customer, who will go for the simplest solution: abandoning the shopping cart.
Beyond 7 or 8 fields to fill in, the abandonment rate soars.
A technical problem
When making a purchase, a technical problem or any glitch making the process complicated or payment impossible has a very good chance of driving away a potential customer.
12% of abandoned shopping carts result from a technical problem encountered by the Internet user.
A lack of trust
Trust is a key factor in taking a customer to the point of purchase. Internet users fear leaving their personal and banking details on the internet, so a high-quality experience and elements of reassurance are essential to convert.
We also wrote an article about the security of payment links.
A false purchasing intention
Many online shoppers may make baskets out of curiosity or fun. In this case, no matter how carefully an Internet user puts together their basket, they are simply not in the process of purchasing immediately.
How can payment links reduce cart abandonment?
Payment links play a major role in a good e-commerce strategy. The latter effectively make it possible to set up effective relational flows which make it possible to optimize the conversion rate by refocusing in a different way on users who, initially, did not move on to the phase of completing the purchase.
Obvy payment links natively offer a large number of services that improve conversion:
Payment methods: Bank card, Bank transfer, Deferred payment by bank card, Payment in 3 installments, 4 installments, 10 installments by bank card
Payment methods: immediate, escrow, recurring
As well as many other services such as:
Integrated delivery with Mondial Relay, Chronopost, Colissimo
The creation of promotional operations (promo codes, allocation of funds, commercial gestures)
Thus, payment links can be communicated via several channels to a user who has abandoned a shopping cart, in particular through an email, an SMS, or via social networks.
Payment links can be accompanied by a discount, promotion, or promo code to facilitate conversion. It is also a good time to offer payment facilities, particularly with payment in installments or deferred.
Thus, the user's interest is revived, and the latter will be more inclined to convert.
A personalized shopping experience
With payment links, a business can personally connect with the customer, talk with them, create a connection, make offers, then directly send them a payment link that will redirect them directly to a ready payment page ready-made and personalized.
This contact step can be done by the sales team, the customer support team, or the marketing team.
The online buyer will be able to choose their delivery method, their payment method, and will only have to provide some information to proceed with the purchase.
Payment links are like a second chance with an Internet user, a unique opportunity to humanize the purchasing process, and at the same time to build loyalty if successful.
Payment links like Obvy's and their features offer personalized solutions to every online shopping scenario.
By meeting the specific needs of Internet users while creating an opportunity to exchange, they help reduce the cart abandonment rate, while increasing conversions and customer satisfaction.
Online sales platforms that integrate payment links into their payment process are able to transform abandonment into business opportunities.