Solving Customer Drop-offs and Compromises with the Affordability Suite
With the festive season fast approaching, founders of e-commerce businesses have a lot to do. Their biggest challenge: customers dropping off or customers settling for lower-value products due to high costs and a lack of awareness on affordability options and offers.
High Costs and Missed Opportunities
To illustrate this, let’s think of a rather common scenario. A potential customer lands on your website, filled with excitement. They eagerly browse through your products, excited about the wide range of products and festive deals you’ve advertised. But as they consider proceeding to the checkout, they’re taken aback by the total cost. The high prices force them to rethink their choices that don’t align with their budget and settle for lesser-valued items, or worse, abandon the purchase altogether.
In this era of fierce online competition, losing customers due to affordability issues can significantly impact your conversion rates and sales. Additionally, the lack of visibility on ongoing offers further adds to the dilemma, leaving many potential buyers unaware of the exciting deals you have in store.
What does this result in? Well, a lot of missed opportunities to convert window-shoppers to customers, an overall decrease in sales, and ultimately a dent in your revenue.
Razorpay Affordability Suite is the Game Changer
To address these challenges that many businesses face, Razorpay Affordability Suite, is designed to work its magic right from your product pages to the final payment page! Here’s how the magic happens:
Building Upfront Visibility for Affordable Payment Options
The Affordability Widget, strategically placed on each product page, ensures that shoppers are aware of the payment options that make purchase a lot easier on the wallet and empowers businesses to sell more and convert more customers.
Customers can instantly see the flexible payment plans (Credit Card and Debit Card EMI, Cardless EMI, Interest free Pay later) , instant discounts, cashback offers, and the availability of No Cost EMI options, right from the moment they land on the product of their interest.
With this newfound transparency, potential buyers are empowered to make well-informed decisions without any last-minute surprises during checkout. They can explore your diverse range of products, confident that their budget and financial preferences are taken care of, making them more likely to opt for higher-value items.
No More Surprises with Pre-Eligibility Check
Nothing is more disheartening for a customer than discovering they aren’t eligible for the payment option they had their heart set on. The Affordability Suite’s pre-eligibility check puts an end to this disappointment.
Customers can effortlessly distinguish between eligible and ineligible payment options and can use only the eligible ones for making payments. In the event of ineligibility, we transparently communicate the reason, enabling customers to take any necessary actions accordingly. This streamlined approach eliminates payment failures and enhances customer satisfaction.
Affordability with No Cost EMI, Instant Discounts and Cashback Offers
The Affordability Suite goes beyond just showcasing affordability options. It offers you the incredible capability to create instant discount and cashback offers that captivate your customers, motivating them to make a purchase right away.
Additionally, with the No Cost EMI feature, you can cater to a broader audience, enabling customers to spread their payments over a specific period without incurring any extra cost. This compelling proposition attracts more customers who might have hesitated due to upfront costs, resulting in an exponential rise in conversions and sales.
Revolutionising the Buyer Journey
The Affordability Suite becomes your secret weapon, enhancing and enriching the experience at every stage of the buyer journey.
Each product page becomes an opportunity to engage customers with attractive offers and flexible payment plans, converting their interest into tangible sales.
From enticing customers to providing a seamless payment experience, this suite ensures your potential buyers stay engaged and satisfied throughout their shopping experience.
This festive season, as founders, it’s essential to gear up with the right strategy to maximise conversions and sales. The Affordability Suite is the ultimate solution to address customer drop-offs and compromises caused by high costs and lack of affordability visibility. By incorporating this game-changing payments stack into your online business, you provide customers with transparency, flexibility, and an exceptional shopping experience.
So, this festive season, let the Affordability Suite lead the way and watch your conversions soar to new heights, bringing prosperity and joy to your online business.
Remember, happy customers lead to a successful future, and the Affordability Suite is your key to unlock that success. Happy selling!