The more you meet the customer’s needs when it comes to making payments, the more they will trust and rely on your for future purchases. ![]() A boost in customer loyaltyĬustomer loyalty can culminate from a few things, but if you want to achieve a deep-rooted loyal group of customers you have to meet and exceed their expectations across the board.īy offering finance, you demonstrate a customer-centric approach to how people make payments. If a customer sees a product or service that they want or need sooner rather than later, but it’s not something they want to pay for outright, finance and credit pay means that the customer can have access to their purchase quicker and worry about the finances later. You also need to consider convenience – in a world where everything is becoming increasingly ‘convenient’, this is where you can really prove that you can keep up.Ĭustomers demand simplicity in the service that is provided, and therefore convenience plays an important role in the customer’s decision making journey. Overall, this reduces friction associated with payment at the checkout and in-turn allows your products to become more affordable to a wider target audience. Whether that be splitting the payment over an agreed period, or delaying the payment until a later date, it means that the customer doesn’t have to part with a large amount of money in one hit whilst giving them time to plan their finances. Shoppers that have less or budgeted disposable income may be more inclined to purchase a product from a retailer who offers more flexible payment options. One of the most prominent forces on buyer behaviour is disposable income. If you segment your target audience by buyer behaviour, you will notice that different segments may prefer one payment method over another. One key benefit of offering finance and credit payment solutions is that you can attract a far wider audience. However, finance options can work really well for a range of product and service styles including clothing, perfume, jewellery and sports retailers as well as services such as dentists and travel providers. Many mistake these finance options as only being beneficial to those companies selling the big-ticket items – think cars, furniture and electrical goods for example. ![]() If you haven’t jumped onto the bandwagon yet, for whatever reason, it’s worth weighing up the potential benefits that providing a finance payment option on your ecommerce site may provide for your business. Offering finance has become commonplace from multinationals to SMEs, and is often seen as an essential tool for revenue growth. ![]() ‘Pay by finance’ and ‘pay by credit’ options have started making more regular appearances within our checkouts in recent years.
0 Comments
Leave a Reply. |