July 16, 2012
When it comes to payment options, we've definitely seen that offering visitors a variety of choices drives conversion. And earlier this year, one of our clients scored an increase in conversions along with a lower cart abandon rate by adding a button on product detail pages that emphasized its acceptance of PayPal.
But what about a bill-me option—does it have a big impact on sales?
That was the question faced by Tafford Uniforms, a multichannel marketer of medical scrubs. The marketer offered its website visitors the choice of applying for delayed payment through third-party provider Bill Me Later®, but was growing concerned about the significant rate of visitors who were declined. Wondering if it would be better to forgo this payment alternative entirely, Tafford decided to run a test.
For the test, Tafford compared the results of displaying the bill-me payment option throughout the website (for example, below the hero image in this screenshot) versus not showing it at all. After analysis, the marketer realized that 3%-5% of its sales would be lost without offering customers the bill-me payment option.
Now that it has determined the value of a bill-me payment option to it online business, Tafford is leveraging this knowledge to start testing other alternative payment options.