4 minute read
Mobile is becoming an increasingly important aspect of online shopping and omnichannel retailing. That said, convincing mobile browsers to become buyers isn’t easy. And with the latest stats from PYMNTS.com’s Checkout Conversion Index showing a 3.1% drop in mobile conversion rates, it appears that some retailers are learning this the hard way.
But all is not lost. Retailers can counteract the falling mobile conversion rate by reducing the amount of friction involved in checking out on a mobile device.
Let’s explore some actionable strategies retailers can use to reduce friction.
Less is certainly more when it comes to mobile. It’s important for sites to provide users with just the right amount of information rather than bombarding browsers with an overload of content. A quick rule of thumb is to “write your copy and then cut it in half” – or in other words, err on the side of simplicity.
Have a look at Abercrombie & Fitch’s mobile website. It’s simple, responsive, and loads quickly.
This site also illustrates the importance of having easy call out buttons on a mobile site. Large buttons (some are even screen-wide) improve the shopping experience by making it easy for shoppers to push the button they intend to.
A second strategy retailers can use to embrace simplicity is thematic filtering. People often shop based on a particular theme – perhaps you have even recently bought some new clothes for spring? Thematic filtering allows shoppers to limit the products they see to only those within a certain theme. Thematic filters for an apparel store could include things such as ‘spring shirts’, ‘party dresses’, or ‘high-end watches’. The benefit of thematic filters is two fold: first, these filters make it easier to find specific products, and second, it ensures mobile browsers are only presented with the most relevant products (which is important when shopping on a small screen).
Clicks to Checkout
Asking mobile customers to tap, pinch, or scroll on their device adds to the friction involved in completing a purchase. By reducing the number of clicks required to checkout, retailers can effectively reduce this friction and lead more browsers to become buyers.
The most obvious way retailers can reduce the number of clicks it takes to checkout is by reducing the number of pages and simplifying navigation. Minimizing the number of pages in your checkout ensures you have a streamlined and easily navigated mobile shopping experience, which helps capture more customers.
Forms are another common source of friction for mobile users. Having too many form fields is a sure fire way to turn off mobile shoppers, so make sure to only ask for essential information. Hubspot’s research of 40,000 contact forms found that reducing the number of fields from 4 to 3 increased conversion by 50%.
Time to Checkout
Page speed has a big impact on conversions, and this is only compounded when dealing with mobile shoppers. How much does wait time impact a website? A 1-second delay in page load time results in 11% fewer page views, a 16% decrease in customer satisfaction, and a 7% drop in conversion. Reducing page load time will lower the amount of friction involved in a checkout and convince more shoppers to complete a purchase. Econsultancy points out that when load time improves from eight seconds to two, conversion rate jumps by 74%.
Speed of payment options is another important factor influencing the time it takes to checkout. Asking customers to fill in long checkout forms and enter 16-digit credit card numbers on a small screen adds a lot of checkout friction for mobile shoppers. Retailers can overcome this issue by offering a streamlined payment option that cuts down on the amount that customers have to type and lets them checkout faster. For top sites, it takes customers an average of just 134 seconds to complete the entire checkout, so make sure your payment options aren’t slowing your customers down.
Total Payment Options
While the earlier strategies will help to get more customers into your checkout process, ensuring you offer a wide range of payment options will help convince more customers to complete your checkout process. Research by YouGov found that 40% of customers feel more comfortable purchasing from a retailer that accepts several payment options and that half of consumers that regularly shop online will abandon a cart that doesn’t have their preferred payment method. So if you only accept a few payment options, you may be doing yourself a disservice.
How many payment options should you have? While the top converting websites have an average of 7 payment methods, some of the best have as many as 15 payment options. Point being, you may be missing out on sales simply as a result of not having enough payment methods.
Moving Forward with Mobile
Broadly speaking, the key to counteracting the dropping mobile conversion rate is reducing the amount of friction involved. Retailers need to prioritize simplicity to make it as fast and easy as possible to checkout on any device.
P.S. Enjoy this post? You’ll love Defining Mobile Payments: In-Store, Online, and In-App and Are Wearables the Key to Unlocking Mobile Payments?