Analyzing which factors influence the checkout process of customers and how to optimize the checkout page is critical for conversion rate optimization and revenue growth. In this article, we will show you how to analyze and optimize the checkout conversion rate.
In this article
A. Analyze influential factors
B. Conversion rate optimization checklist
C. Frequently asked questions and troubleshooting
A. Analyze influential factors
According to a Baymard Institute report, the average abandoned checkout rate on online stores is 69.82%, implying that only three out of every ten customers complete their purchases after adding products to carts. As a result, if your store's success checkout conversion rate is less than 30%, you must quickly identify the root causes and conduct an analysis of influential factors in order to optimize this rate.
The process of examining the factors that influence the conversion rate from Checkout initiated to Complete checkout includes:
If you find that the checkout conversion rate of your store is lower than the standard rate, you should check and analyze the above factors in order to find a solution and make the necessary changes.
B. Conversion rate optimization checklist
1. Checkout Page
Trust Indicators
Adding trust indicators and badges to build confidence in the checkout process.
Payment Info (Email, Shipping Address, etc.)
Shipping Fee
By following this checklist, you can optimize your store's conversion funnel, enhance user experience, and ultimately increase your store's conversion rates.
C. Frequently asked questions and troubleshooting
One of the most common reasons customers do not complete their payments is that their mindset shifts when they see a checkout page they don't like, or worse, they don't see the information they need.
At this point, you must ensure that the store's checkout page interface has been optimized in terms of form and that the information provided on the page is complete. For example, is the checkout page one-page or three-step? Is there enough product and price information? Is the logo/store name consistent, clear, and professional? And, if you are in the customer's point of view, you should feel comfortable and ready to pay in that store.
Additional fees for product and shipping, as well as taxes, are one of the most common reasons for customers to abandon their cart (about 60%). Please adjust your store's order shipping fees to be reasonable; if possible, free shipping should be provided.
Also, ensure that any discount codes you promote or offer to customers are valid and applicable during the checkout process.
One of the top ten reasons why customers do not complete their payments, and 18% of customers believe the website is unsafe and untrustworthy enough to enter payment information. As a result, you should include all necessary trust indicators in the checkout page to put customers at ease: trust badges, logos, SSL certificates, and so on.