Adam Figueira, Product Marketing Manager, Monetate
Today we’re talking about checkout optimization and some quick ways that merchandisers can make big improvements to the checkout process. And joining me is Nathan Richter, director of strategic services at Monetate. Nathan, when it comes to the checkout process, a lot of the conversations today are about ways to reduce cart abandonment. But cart abandonment is just one of many topics in this larger idea of checkout optimization, which involves things like increasing average order value in revenue and increasing repeat purchases. What are some of the best ways that merchandisers are optimizing their checkouts today?
Sure, I think there are a lot of different elements that can be optimized within the cart. A great way is reinforcing your guarantees or your security assurances. Another way is looking at what your mix is for alternate payment types. And understanding, is that a valuable asset that you need to highlight even more, or is it possibly something that isn’t as prominent as you had expected and could be removed to improve efficiency?
Also, reinforcing any promotions you have in there, letting a visitor or a customer know when they might have reached an actual promotion threshold. And I think just as importantly, as we’re seeing from a behavior perspective, is many times it’s not a single session. There’s repeat visits. So the ability to re-target those customers that had left something in their cart. Next visit that they come, letting them know they have that item and basically speeding up the process to get back to that conversion flow.
Thanks, Nathan. And for more on this topic, check out our shopping cart webinar at monetate.com/webinars.