Keen to make sure your product checkout pages are up to par, helping (not hindering) sales?
After processing 102,986 orders last year, SamCart recently released their 2015 Revenue Report to share 6 conversion stats specifically related to checkout pages. Comb through the list and consider if any conversion-boosting tweaks may be in order. You can put this into action regardless of which eCommerce program you’re using.
The first data point SamCart investigated relates to upsells…
1. How do 1-click upsells impact your overall revenue?
A 1-click upsell is the process of offering additional products to your customers, following a core product purchase, without the need to re-enter credit card information. A familiar reference point you might have for this is the 1-click checkout with Amazon, where your credit card is stored on file securely and you can finalize a purchase without entering payment and shipping information.
SamCart reviewed their collective customer data and found that the use of 1-click upsells was able to increase average customer value by a whopping 68.1%, the kind of numbers that completely change a business. That wasn’t comparing the revenue of people who don’t use upsell to people who do, but a direct comparison of order value increase within each individual business.
I attended a course prelaunch webinar hosted by Amy Porterfield for her program, Webinars That Convert, and thought it was excellent how she included mention of the fact that there would, in fact, be an opportunity to buy an additional program add-on (an upsell) in the process of checking out. She even included screenshots within her webinar slide deck to depict what that upsell would look like so that potential customers knew exactly what to expect.
2. Should I offer a guarantee, and for what length of time?
SamCart first compared the conversion results between checkout pages with no guarantee and some version of a guarantee. The results were clearly weighted in favor of having a visible guarantee, so from there it was a matter of determining which length of guarantee was most effective.
Although the most commonly used guarantee period length is 30 days, SamCart found that when bumped up from a 30 day guarantee to a 60 day guarantee, checkout page conversions increased by 81%.
The 90 day guarantee didn’t perform as strongly as the 60 day, and interestingly, the 100% (unlimited) money back guarantee resulted in the worst overall conversion.
What do you think? Could there be some further consideration warranted here? There’s more than just conversion rates to consider, right, so bear in mind your own unique product offerings and business processes.
3. What number should your prices end in?
SamCart wanted to get a real, data-backed answer to that age-old question about pricing. Should your price end in 7 or 9 or 0 or 5?
They used ending digit ‘7’ as the control, simply because 7 was slightly more popular in terms of the number of SamCart users opting for a price ending in 7.
Are you ready for it?
Here’s what their data revealed: “Prices ending in zero show a statistically significant boost to conversions.”
I have been trying to persuade clients into pricing with 0 or a 5 as ending digits for the past 5 years, with no other reason really than a personal preference for being ‘direct’ and ‘neat.’ Now I’ve actually got some supporting evidence to point to. Nice. 🙂
4. Does the length of your checkout form affect conversion rate?
It’s a commonly held assumption for landing page design. The more form fields for someone to complete, the more your conversion rate will drop. Sometimes that lead or customer information is significant, so it’s worth the trade-off. But what about when you don’t need that extra data? The findings were clear: shorter checkout pages with fewer form fields to fill do, in fact, boost checkout page conversions.
Are you asking your potential customers to give you information you don’t really need? Time to drop that field! It could be the shipping address, billing address, phone number, or in some cases all three, that you can afford to remove.
So here’s what the data looked like: compared with the control, where all form fields were displayed on the checkout page, removing both the shipping and billing address resulted in a 35.1% conversion increase overall!
5. How does visible social proof on your checkout page impact your cart abandonment rate?
Have you ever wondered how many testimonials you should be including right on your checkout page? SamCart’s data definitely confirmed that social proof is the conversion booster you’d expect it to be, but they also found that there are two key options to optimize the impact. One testimonial or five testimonials seemed to be the two sweet spots for positively impacting a potential customer’s decision to purchase.
Using checkout pages featuring a single testimonial as the control, the data showed that by adding several more testimonials, the comparable conversion rate didn’t actually increase until checkout pages displayed a total of five testimonials.
You’ll find further explanation on all of these checkout page conversion stats over here in the SamCart 2015 Revenue Report launch videos.
Now, time to get to work on your checkout page design, or if need be, jump ship and hunt down a new e-Commerce app that works best for your business overall.