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Streamlining the Checkout Process

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Streamlining the Checkout Process <ul><li>Matt Franklin , Blogger (moderator) </li></ul><ul><li>Manish Chowdhary , CEO, GoECart </li></ul><ul><li>Pete Olsen, VP of Product Management, Amadesa </li></ul><ul><li>Mike Madaio , Principal, User Experience, QVC </li></ul>

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<ul><li>Manish Chowdhary CEO GoECart </li></ul>Streamlining the Checkout Process

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Brits Are Losing Patience With Shopping Online

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Brits Are Losing Patience With Shopping Online

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Brits Are Losing Patience With Shopping Online

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Brits Are Losing Patience With Shopping Online

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Brits Are Losing Patience With Shopping Online

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Brits Are Losing Patience With Shopping Online

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Ecommerce is Still BIG, but Different Now <ul><li>Ecommerce is maturing! </li></ul><ul><li>One-third of online shoppers have now been buying online for seven years or more </li></ul><ul><li>Website traffic is up but “1-and-out” rate is up too </li></ul><ul><li>“ Engagement” rates are down </li></ul><ul><li>Cart abandonment rates are up </li></ul>

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Top 3 Reasons Why These Sophisticated Consumers Shop Online? <ul><li>Time savings </li></ul><ul><li>Convenience </li></ul><ul><li>The opportunity to find lower prices and unique products </li></ul>

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Cart Abandonment Rates Are Up

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Why Do People Abandon Shopping Carts ? 72% of online shoppers expect prices to be lower online than any other venue.

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Idle vs. Abandoned Shopping Cart <ul><li>50% of Internet purchases are concluded more than an hour after the shopping cart was created </li></ul><ul><li>Avg. length of time varies greatly based on the product type </li></ul><ul><li>Carefully consider the right abandonment metric </li></ul><ul><li>Wait at least 24 hrs to contact recent shoppers </li></ul>

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The New Acid Test for ALL Website Changes and/or Enhancements <ul><li>Will my customer experience this as a benefit? </li></ul><ul><li>It’s NOT just about the value of the present sale but the lifetime customer value . </li></ul>

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What Are We Going To Do? <ul><li>Get Personal </li></ul><ul><li>Convince Them You Have What They Want i.e. The Ideal Shopping Cart Common elements </li></ul><ul><ul><li>Increase Customer confidence - build and enhance trust with customer </li></ul></ul><ul><ul><li>Provide the right information at the right time </li></ul></ul><ul><ul><li>Make shopping experience easier </li></ul></ul>

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Loyalty Building Need Not Be Expensive <ul><li>Personalized Targeted One-On-One Email: Simple but Effective (3x) </li></ul><ul><li>77% of the shoppers found the personalized offers useful and 34% made a purchase based on those recommendations (source: Forrester Research) </li></ul>

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The Ideal Shopping Cart Tip #1: Provide an “always-on” universal shopping cart

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Tip #2: Give Customers’ the Ability to Edit and Manipulate Items Right Within the Shopping Cart

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Tip #3: Use Eye-Catching Call to Action Buttons

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Tip #4: Persist the Cart and Enable Customers to Add Items to their Wish Lists, Registries and “Social Shopping Lists&quot;

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Tip #5: Increase average order size via RELEVANT cross sell and up sell right in the shopping cart

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Tip #6: Present Conditional Merchandising Messages Within the Shopping Cart

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Tip #7: Support Multiple Alternate Payment Methods

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Tip #8: Support Cross-Channel Sales via Gift Cards, Gift Certificates, Loyalty Programs and In-store pickup

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Tip #9: Clearly Display Item Stock and Availability Status

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Tip #10: Display Security and Trust marks like BBB, Verisign, HackerSafe, TRUSTe, etc. Provide contextual information at the right time - Return and Privacy Policies, FAQs, … Click to Chat, Click to Call

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Tip #11: Must Have Excellent In-Store Site Search

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Tip #12: Handle the Empty Cart Wisely

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The Ideal Shopping Cart Attributes (cont.) <ul><li>Tip #13: Offer Free Shipping (if you can afford it) – It works! </li></ul><ul><li>Tip #14: Provide immediate visual feedback on promotional discounts </li></ul><ul><li>Tip #15: No one size fits all – Test, Test and then Test some more!! </li></ul>

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Shopping Carts Optimize the experience Pete Olson VP Product Management Amadesa, Inc.

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The Problems…. <ul><li>Shopping Carts are complex in the eyes of the retailer </li></ul><ul><li>Shopping Carts are necessary evils in the eyes of the customer </li></ul><ul><li>Shopping Carts are all different </li></ul>

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Why Shoppers Leave* <ul><li>High prices / total / hidden costs </li></ul><ul><li>Shipping & handling issues </li></ul><ul><li>Didn’t want to register </li></ul><ul><li>Site asked for too much info </li></ul><ul><li>Website too slow </li></ul><ul><li>Checkout process too long or confusing </li></ul>* MarketingSherpa 2007 eComm benchmark Shoppers Leave Because the Experience Hasn’t Been Calibrated to Balance Shopper Desires and Company Needs

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What Can Be Done? <ul><li>Bring the concept of testing to the cart pipeline </li></ul><ul><li>Take action on the results </li></ul><ul><li>10% lift in conversions represent 10% lift in revenue…. It’s the only place direct impacts can quickly be felt on the top line </li></ul><ul><li>Understand and improve the experience of users </li></ul>

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Nuts and Bolts… <ul><li>2/3/4/5/6 Step Progress Bar Above Checkout Fields </li></ul><ul><li>Hide Order Summary Until Payment Information </li></ul><ul><li>Removal of CVV from Payment Information </li></ul><ul><li>Removal of Phone Numbers from Personal & Billing Information </li></ul><ul><li>Create phone number entry fields </li></ul><ul><li>Test checkbox “same as billing address” that when unchecked, fields will be cleared </li></ul><ul><li>Enhanced Security Messaging Throughout Checkout Process </li></ul><ul><li>Overarching Marketing Message </li></ul><ul><li>Moving Discount Code Into the Payment Fields </li></ul><ul><li>Removal of Choose your currency </li></ul><ul><li>No gift option </li></ul><ul><li>No promotion code option </li></ul><ul><ul><ul><ul><ul><li>A Partial List…… </li></ul></ul></ul></ul></ul><ul><ul><li>A Partial </li></ul></ul><ul><li>Placement of Widgets </li></ul><ul><ul><li>Shipping calculators </li></ul></ul><ul><ul><li>Promotional codes </li></ul></ul><ul><li>Wording/copy/language </li></ul><ul><ul><li>Security messaging </li></ul></ul><ul><ul><li>Affirmation messaging </li></ul></ul><ul><li>Single vs. multi-step </li></ul><ul><li>Collapse / Expansion of Steps </li></ul><ul><li>Exit Points </li></ul><ul><li>Progression bars (breadcrumb) </li></ul><ul><li>Design / Template / Layout </li></ul>

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Closing… <ul><li>Find an approach that will: </li></ul><ul><li>Minimize internal IT resources </li></ul><ul><li>Leverage proven experience </li></ul><ul><li>Support your objectives </li></ul>

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<ul><li>Mike Madaio Principal, User Experience QVC </li></ul>Improving Checkout at QVC

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Thank You! <ul><li>Matt Franklin – ray@rssray.com </li></ul><ul><li>Manish Chowdhary – mchowdhary@goecart.com </li></ul><ul><li>Pete Olsen –polsen@amadesa.com </li></ul><ul><li>Mike Madaio – mike.madaio@qvc.com </li></ul>