Q4 Prep Webinar Series: Optimizing The Customer Journey
By Andrew Maff, on September 10th, 2018 ,
Curious about our next webinar? Check it out right here!
On September 6, 2018, our own Andrew Maff sat down with Paul Paradis from Sezzle, a payment solution that increases sales and basket sizes, to talk about Q4 preparations and how you can optimize your customers' journey from the product page to checkout. Learn More about Sezzle: http://bit.ly/2Lsb1HE
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Andrew Maff: Q4 Prep Webinar Series. Okay, so we've been doing a few of these. I know, Paul, I really appreciate you joining us on this. You know when we were thinking about going down this whole product page conversion rate optimization thing, I definitely ... I saw you guys IRCE, CEO's a big fan, so I was like we gotta reach out to these guys and start doing this. I'm really glad to have you guys on board. I think this is gonna be a great webinar, so if you'd like to go ahead, Paul, you can introduce yourself and we'll go from there.
Paul Paradis: Sure. Hey everybody. My name is Paul Paradis. I'm co-founder and Chief Revenue Officer at Sezzle. Sezzle is a alternative payments company based in Minneapolis that we founded back in 2016. We essentially help e-commerce merchants sell more online through a new payment method that helps consumers budget purchases with interest free installment plans. Kind of a new take on the old layaway model. I've been in sales and marketing for the past, oh gosh, 12 years now across several industries. Sezzle is the first e-com based company, but I've worked in sports and med device and a whole bunch of different industries. I have a wife and two kids, two little girls here in Minneapolis. Also a lover of whiskey, I saw that in Andrew's profile. I'm a bourbon guy myself, hoping to have some of that on the golf course this weekend, but happy to be here.
Andrew Maff: Nice. Myself, Andrew Maffettone, I put Andrew Maff just because it won't ever fit anywhere. I'm the Director of Marketing and Operations here at Seller's Choice. I've been in marketing for a little over a decade now, pretty much majority e-commerce. I fell out of there for a little bit, but it was still marketing. We help sellers diversify into many different marketplaces. We help with branding. We're a full service digital marketing company, so we won't get into that. Of course, good fan of whiskey and bourbon, really just kind of the situation. We share that, but really, thank you everyone for joining us today. Or for anyone who is watching this later on, for those of you who have joined us now, this will get put up onto our YouTube and a bunch of different places. We have a ton of different webinars out there for you guys to use, but stick around toward the end, for everyone who has joined us now, we will have a Q & A at the end, and of course we have some free stuff we're gonna give away for you guys as a token for our appreciation for you guys coming out.
If you tuned in here, there's a good chance that you're looking to improve your conversion rate, you're looking to see, okay, maybe there's some magic software out there that I haven't heard of, maybe you're having conversion rate issues, maybe your site's been doing very well and you're looking to squeeze out some of that profitability and start to increase your sales or increase your lifetime value of the customer, or even your average order value, anything along those lines. Or you're just flat out awesome. Before we get into anything here, we do want to do a quick poll and let's see what everyone's conversion rate is on their site as of right now. This will just give us a little insight on where everyone's current conversion rates are sitting at. We'll see if anyone needs help or if anyone is doing great, in which case maybe we'll bring you in and you can give us some pointers. But there should be a poll on your screen right now. Let us know where your conversion rate is sitting at.
Everyone always asks what the benchmark, like what should my conversion rate be. I'm not a fan of that question, just because every industry, every category, every business is different. Someone who needs something is going to convert at a much higher rate than if someone wants something. Clothing lines are gonna have much smaller conversion rates than someone who needs to replace a water filter or something like that. So let's see what we got here. So 80% at around 1-3%, and 20% of you around 3-5. 3-5 is great. 1-3 is pretty standard for the most part. It's pretty average. Really what you want to do, is you want to get up to that 6-10 range, but still, all looking good, obviously everyone here will want to dig into this a little bit more, so hopefully we'll have some insight for you guys here.
Let's talk about why we're all here, optimizing product pages to improve your conversion rates. Come on. These are the basics. This is on product page stuff. We're gonna get into checkout too, which is obviously where I'll probably sit back and let Paul just shine with all of his glory, but so, we're gonna start with the basics here real quick on your product pages. Some of this may seem really obvious. Some of it you may think was obvious, and you never really thought outside the box, so let's start with the really standard stuff page speed. If your site is slow, no one is gonna convert.
I think it was 2015 when they did some poll, when they did the national average of the attention span of a human is now less than that of a goldfish, so if your site loads slow, no one is going to convert. That's looking into your file sizes, the imagery you may have, how your site's loading. If you have a developer in house or anything like that, typically you should be able to ask simply, "Hey, make my site faster," and they should know what they're doing. If not you can always outsource that kind of stuff. But if you want to know what your page speed is, Google page speed insights, GTMetrix is a big one, and Pingdom is another one where you can really just, it's free, you just go in, put in your URL and it'll tell you what the site's speed is. That will tell you what you're graded and whether you need to improve or anything, you can do it from there.
So title. This one's always really interesting. We always end up getting some arguments back and forth about this one. With the title, a lot of people want to shove, like it's not Amazon where you think you want to shove like 500 keywords in there. You want to make it simple. You want to make it to the point. You want to make it consumer friendly. You don't want to overdo it. You definitely really don't want to overdo the keywords, even if you are doing Google ads, and your Google ads are actually indexing your title, you don't want to really shove keywords in here. You're gonna convert better if you don't scare off the consumer by giving them a paragraph of a title to read. They're gonna get confused, not be confused like stupid, like the average consumer what we've tried to change, is that the average consumer is not dumb, they're just lazy. They don't want to read a really long title and they don't want to go through the whole, "Is this even saying what I need?" So keep the title simple. Get straight into the point, and of course, make sure you're just hitting the important keywords. Don't overdo it and try to shove 15 keywords in there.
The next one's pretty obvious, or at least you would think it is, but I've been to many sites where it's not as obvious as you would like. This kind of goes hand in hand with, on any site, so even your on website, or if you're on Amazon or anywhere else, a lot of this stuff is all very similar. You need high definition imagery. Any low grade type of photo, no one's gonna buy it. If you didn't take the time to get a professional camera to get a professional picture of your photo, people are gonna think you didn't take the time to make a good product. Lifestyle images, it's just nice to show people using the product. It really helps sell the brand. If you're going after a specific category or you're going after a specific audience, you want to show that audience using the product. It helps the person really picture them using the product or picture the product in a certain place, as opposed to just seeing it in a plain white background.
Now, I mentioned on last slide people are not dumb, they're lazy, so no one wants to read these long titles, no one wants to read these really long descriptions. You want to keep it pretty simple. Call outs and infographics can help conversion rates so much. I have seen conversion rates in some cases almost double just from adding new imagery and adding call outs and infographics. No one's actually going to read the important stuff that you know they should know, so you put it in the imagery, because they're just scrolling through the images. They'll actually get the important information here. In this case, like in this product, this is actually an old client of ours who ... It was like eight grams of protein and it had all this fiber in it. He wanted to make sure that people knew it, so he really said it a lot of times in his description. We're like, "No one's actually going to read this paragraph, so let's put this stuff in the imagery."
Same with the infographics of like, this was a coffee client we work with where they were trying to pinpoint which flavor you may want, so we put in an infographic about explain it. Mobile friendly is very obvious. With mobile friendly, most people aren't starting their shopping experience on desktop. They'll start it on mobile, and either purchase on mobile, or come back and purchase later on desktop. So you'll actually see your conversion rate on desktop improve even if you make your images mobile friendly, because the people who are coming to your desktop came there immediately and purchased because they already did their search prior, on their phone. Video is another one. Video is really big. We've started to play with getting some of the slider things, where basically you can get a product, stick it on a round thing, and you take a ... My photography team does this, so forgive me if I'm saying it in layman's terms, but you stick product on top of a turntable and they film it.
Then it's a 360 video of the product. Then you actually have the ability of using a slider as opposed to just hitting a play button, where the person can actually see the product and go left and right as much as they want. It sounds ridiculous. Even in this case, it's a vacuum filter. Why do people need to do that? Even with this client, we saw a good increase in their page's conversion rate, just from having a video of someone being able to watch the product. Maybe they feel better about being able to see the dimensions or they saw that you just went the extra mile to do a video of it. Either way, it definitely can help increase. With how much video is helping in marketing right now, there's no reason to not have it on your product pages.
Clear call to action, this one's pretty simple. Our design team, I always show them these slides and go, "Hey, make sure it's pretty," and they said, "Oh, you gotta tell everyone to use the squint test." I was like, "I have no idea what the squint test is." I thought this was brilliant. I didn't even know this before, but if you are staring at your product page on your desktop, you have to squint. Squint your eyes really, really small and if you can't immediately still tell where your add to card button is, it's not standing out enough. It needs to be like here's where you go to buy it. It's plain and obvious. It should be, next to your imagery, it should really be the second thing that catches your consumer's eyes. Give your product page to someone who's never seen your page before, have them do this squint test, and then close the laptop or something, be like, "Okay, where was the buy button?" If they can't tell you, you gotta fix it. So having it clear, having it stand out, in some cases having it as a different color if you're really heavy on your colored branding, to make it really stand out.
So description. This one's always interesting. The problem we found is that no one reads the description, no one reads these. They're always long. They're bulky. They're super boring. No matter how exciting the product is, a lot of times people aren't gonna read it unless they're really interested in the product and they didn't get enough information prior, then they will read it, but otherwise they're not gonna read it. So what we started to do next to having those callouts, is to actually write product descriptions that obviously are not only very keyword friendly, but are also very fun. Make it a story. Make it an entertaining way to read it. It can cost you like 30 bucks a product to outsource having someone with a writing skill actually write you a decent product description.
Then make sure you break it up like this, just like you would do a blog post or anything like that. You don't want to have five or six sentences per paragraph. You wanna have like two or three. Break it up and keep it really simple. Stick to using bullet points so that things stand out and they're easier to read. There's not a single product out there where this couldn't work. This was a vacuum filter and we were able to write a bunch of really fun entertaining information about it. You can do it with almost any product. We saw a big increase in conversion rate, just because people were sitting on the site longer and they were actually interested in reading into the product. In a fun way, we were still getting them the information that they needed.
So apps, software. Everyone loves a good app, a good software. I feel like every time we're like, "Hey, have you saw this app?" It's like a new toy, like you're unraveling at Christmas or Hanukkah or anything like that, any holiday. We have a list that we always use for the most part. I wanted to make sure I went through a bunch of these, of the apps and software that can really help you. Now this is catered to Shopify, just because this is kind of our specialty here, but we've done big commerce, we've done blue commerce, we've done volution, stuff like that, and most of these can still integrate with those. If not, there is a similar app that does almost the same thing on all those platforms, so bear with me.
But the upsell or cross sell, this one's really obvious. This one is really they've checked out, they're going to the end, hey don't forget about this. In this case the camera, don't forget your batteries. Or for, again, the vacuum filter, I just did this account the other day which is why it's fresh in my mind, but it was really, "Hey, you're buying one, why not buy two or three and not have to worry about this for a few months and save 10%?" Just that slight upsell is a great way to convince the person to spend a little bit more.
When we turned on product upsell, this isn't necessarily a big conversion rate changer, it's more of an average order value changer. We saw 10, 15, and in one case 20% increases in average order value, which if you have enough volume is astronomical. It's as simple as just putting this together and saying, "Hey, when someone buys this, show this connecting product." Bold also has another app that I won't touch on here, but it's called Bold Brain, and it's completely free. It basically just takes all of your products in Shopify and it will learn if someone bought this, most of the time they also buy this. Do you want to set it up as an upsell? So it will teach itself. I should've got a code for everyone for Bold, but they're just awesome. Go reach out to them, they make a bunch of this stuff, so obviously I have another Bold example here.
The subscribe and save is another Bold option that they have. This doesn't work for every product. You're not gonna want to subscribe and save to t-shirts or to shoes, or anything along those lines, but vacuum filters, coffee products, disposable products or reusable consumable products, things like that, having a subscribe and save option, it never hurts. I've never seen it hurt someone, even if it's makeup or if it's supplements. With supplements, a lot of people want to try it, and then they'll come back and buy it again, and they'll be like, "Yeah, but what if I don't want it again next time," and blah, blah, blah, and it kind of continues. You'll still get that one person who's just like, "I love this. I would love to save 15% off every time I order this. Just stick it on an auto pay."
The lifetime value of your customer will expand massive. What will happen is you'll start to re approach what your ad spend is, because a new customer is actually worth more to you than it was before. To give the ability to spend a little bit more in ads because a new customer is now spending 2, 3, 4, 5 times more with you per year or over their lifetime than they were prior, so you'll actually be able to increase your ad spend, which will justify all the extra customers you'll be able to get from this.
Quantity breaks. This is similar to the upsells, except this is on the page itself. This is another big one that I saw change average order value, just similar to the product upsell. The product upsell you can say if you bought this product, you may also want to buy this product on your way to the checkout. This is, if you bought this product, why not buy more? This was actually an example that I pulled of their site. I don't know why you would want to buy five hats, but in some cases you may want to. Maybe if you're getting them custom and it's for a team or something like that. Again, the vacuum filter, I'm sorry this thing I was doing the other day, so it's fresh in my head, but we added quantity breaks to them and they had a massive increase in their average order value.
You'd be surprised at which products this works for and which one it doesn't. It's very rare that it doesn't work. It won't hurt. It will just sit there and no one will use it, but if you think there is any kind of average scenario where someone wants to purchase more than one of your products, giving them just that little bit of 5% off will actually entice them to buy two, where as originally, excuse me, they were gonna buy one, or two, or three, or however many.
Featured or similar products. This helps on a bounce rate side. If you have someone come to your product page, it turns out that's not what they wanted, then they leave. You want to try to keep them there as much as possible. This is really where you get the opportunity to show them, "Hey, if you don't like this product, here's some other options." Always have a backup plan. I'll touch into a couple other backup plans, but having a live social feed of people who have used a similar product or anything like that, or obviously this featured or similar products, is a great way to show them don't give up just yet. Maybe you don't like this product, maybe you'll like one of these four. Or maybe you're not sure about this product, here's some social proof for you. With these, this can really showcase either A, another product that they may show interest in, or B, an additional product that they may show us interest in. If you can get them to at least stay on your site, it'll improve your bounce rate, which over time will actually help on the FCO side.
And then on the social proof side, which I just mentioned, this is Yappo. This is one of the top review generating companies. If you're an Amazon seller, you know important reviews are, but a lot of Amazon sellers are under the impression that reviews are only important because that's what Amazon waived. When in reality, the reason reviews are so important are because a lot of consumers, excuse me, when they go onto an Amazon listing, they look at the pictures, and then they ignore your title, they ignore your bullet points, they go all the way down and they look at what people are saying, which is why [inaudible 00:20:16] can help, but that's not why we're all here.
This is the exact same situation. Your algorithm is your own website, so it's not going to affect you. It may help your Google ads if you have the customer review products connection in your merchant center, but if you have this on your product page, this is is improving your social proof. We've used, what was it, FOMO F-O-M-O a few times, where it's that little ... I don't know if you've ever been on a site, that little thing in the corner pops up and it says, "So and so bought this in Kansas. So and so just bought this in Missouri," and then it keeps going and it tells you ... It's supposed to help with social proof, saying like, "Oh, people are buying this." It's supposed to make the consumer feel more comfortable. This is another way to do that.
This is a very solid way to do that, where you're actually getting true, honest reviews here. Obviously they're customer reviews. We always suggest to do what you can about the negative reviews, but actually don't remove them unless they're getting way out of hand. But otherwise, don't remove them. It's actually a very great opportunity to show the consumer how great your customer service is, sorry. So if you have negative reviews, you want to respond to them. You want to respond to them professionally and you want to do as much as you can to help that customer that's upset. Even though it's a negative review, if someone actually goes to read it, they're gonna see you responded, and it's actually gonna help them, because they're gonna think if this doesn't work out, at least they seem nice enough to help me out. I'm gonna take a breath.
Paul Paradis: I'm back. I'm gonna down a little bit of a payments rabbit hole here, but I think it's a really interesting story and one that not many people know about, and is very relevant for merchants of all types. You'll see probably a few pretty scary statistics here in front of you. Young people aren't saving much money these days, probably not too surprising. Something that a lot of people are shocked to find out though, is that only one in three millennials in the US owns a credit card today. The US is the most credit card saturated country in the world. We love our credit cards, so a very clear behavior change going on. The lack of credit for this group is creating a major lack of purchasing power for young shoppers.
Behind all of this is credit scores. So, 67% of consumers under the age of 30 have a sub or non-prime credit score, and 33% don't have a score at all due to lack of credit history. It's a bit of a chicken and egg situation here. Credit cards help people build credit, but people are having a hard time getting credit cards because their credit scores are too low. So there's a big problem going on here with young consumers. There's an underserved group from a financial services standpoint. Do I hit the next slide or do you, Andrew? How does that go?
Andrew Maff: Nope, I got you.
Paul Paradis: Okay, cool.
Andrew Maff: I got you.
Paul Paradis: So why is all this happening? Why is there this 22% gap in credit card adoption from generation X to millennials at the same life stage? It's a complex answer, but I think we're starting to get a better understand of it. First, you have this young generation that grew up during The Great Recession of 2008. They saw the crash, they saw the results of the crash, they saw maybe their parents get into debt, whatever, and because of their experiences during this time, many millennials have developed a lack of trust and fear towards bank and credit cards. I don't know if you've seen some, there's a lot of surveys out there, young people trust tech companies more than they trust banks today. Banks are just not trusted.
Second, you have this have it now generation. The thought of waiting for anything for this generation just doesn't work. Think about the credit card application process. You fill out a form, it takes 10 to 15 minutes, you wait for a week to get a decision, and declines are at a record pace. It shows, and studies show that, if you've been declined, most millennials wait at least a year before applying again. You have the cost of education playing a big role. Over 41% of millennials have college debt today. At this time, only 23% of gen Xers had college debt, the same time in their lives. Millennials are digging out of debt before they even get started.
Finally, we have, I think an overlooked reason for this gap in credit card adoption, which is the Credit Card Act of 2009. Many people don't know about this, but it was part of Dodd Frank, and what it did, was it made it illegal to market credit cards on college campuses. I don't know about you Andrew, but when I was going to college, you had tables set up all over commons hocking free t-shirts to get you to sign up for credit cards, right?
Andrew Maff: Yeah, it was easy.
Paul Paradis: Yeah, and I think it had good intentions. I think the government was trying to curve predatory lending to young people and not get them into more debt, but as a result, now they're not getting those building blocks of credit early in life. They're not building credit to the point where they need it to be when they're needing home loans, car loans, et cetera. They made it illegal to market on college campuses. It made it illegal to give away free stuff for applying for a credit card. It also delayed the onset of credit from 18 to 21, unless you could prove a certain level of income. As a result of that, you have this real big gap in credit card adoption.
Why should you care? You're an eCommerce merchant, how does it affect you? Well, most of you probably have seen the statistic that about 2/3 of all online shopping carts are abandoned. According to a 2016 study which asks consumers about their top reasons for cart abandonment, the top reason, 86% said cost of shipping, unexpected cost of shipping. We can probably thank Amazon for that, right? Amazon Prime. Number two reason was cost of an order becoming too expensive. Price sensitivity is a major reason for cart abandonment. Consumers are increasingly having trouble paying for things they want and need.
As a retailer, you have to be aware of millennials buying behavior, not just from a marketing standpoint, but also from a financial services standpoint. If you know cost is an issue, what can you do as a retailer to overcome that? Now obviously you can slash prices, but that's not a sustainable strategy. You're not gonna be in business very long if you're just slashing prices. So how can you enable shoppers to buy more while maintaining or increasing loyalty of your shoppers? You can move to the next slide Andrew.
Andrew Maff: Yep, got you.
Paul Paradis: So that's why we built Sezzle. Many of the new payment platforms that you're probably familiar with, Amazon pay, Apple pay, et cetera, they solved the speed of checkout problem. They're making checkout really easy and seamless, but they're not solving a price sensitivity problem. What can you do if young shoppers that you're targeting don't want credit cards or they can't get them due to lack of credit history? We want to offer shoppers the ability to budget a purchase over time like a credit card without posing the same financial hurdles and pitfalls.
We built this new payment platform that merchants integrate as an alt payment method on their site, and we use alternative data in stead of traditional credit checks, to responsibly offer them interest free installment plans at online checkout. You're probably all familiar with layaway plans, they've been around forever. They were popular during holiday shopping season often. I know I think Walmart still does it. This is kind of like a reverse layaway. Instead of receiving the items after you pay the installments, with Sezzle, you get your items right away.
We collect 25% of the purchase total up front. We then pay you the merchant in full the next business day, less our transaction fee, and we assume all the repayment risks. We're helping you sell more to price sensitive shoppers, and you're not assuming any of the risk on those orders. Then we automatically collect the three remaining interest free installments from the shopper every two weeks for the next six weeks, from their debit, credit, or bank account.
We launched Sezzle almost exactly a year ago. Since launch, we're working with about 1400 merchant partners now. About 130,000 shoppers have used our platform, 80% of whom are millennials or under 34 I should say. There's probably some gen Z in there too. It definitely skews toward young shoppers. Almost immediately, we're lifting sales by about 9% and our basket sizes are about 40% larger than a merchant's average. It's having a huge impact. Young people love it. They now have the ability to budget purchases over time without having to worry about getting declined because of lack of credit history or racking up a bunch of debt that they need to pay off, or face high interest fees.
We're not just talking your one off thousand dollar furniture or exercise equipment purchases. No, we get that a lot. I get why someone would want this if I'm buying a $3,000 couch but I sell $100 clothing or something like that. Our average order is around $120. Probably 90% of our merchant partners are in fashion apparel. 50% of our transactions now are from repeat users. This is becoming a sticky product that young people love. About 85% of our users said that they wouldn't have made the purchase without Sezzle as a payment option. 79% said they spent more as a result, and 87% said it'd be their preferred method of payment if it were accepted everywhere.
I think we've built something that's really resonating with young shoppers because of its ease of use, it's an instant decision, they get the product right away, they get the instant gratification, and we collect automatically every two weeks, which is how they get paid typically, right on a biweekly basis. All right, you can skip to the next one Andrew.
Andrew Maff: Got you.
Paul Paradis: There's several companies out there trying to solve similar problems to this. Some of the more popular ones are here. Affirm and bread are probably the most well known, all financing companies in the US. They both focus on that larger purchase like furniture, auto parts, exercise equipment. They enable shoppers to pay for their orders in 3-24 month installment loans. Now, they do charge a pretty high interest rate, typically around 20%, which is why they're more effective for that larger purchase. I think both of their average order values are around $800.
Klarna is an extremely popular alt payment method in Europe. They're from the Nordics. They're huge in Sweden, Germany, Norway, but they're coming to the US. They've hung their head on this try before you buy model. I think you've probably seen this at Amazon. I think Amazon's doing it for their apparel now, where you can place the order and you have 14 days to pay a digital invoice or return the product. It's not necessarily a price sensitivity issue, but it gets you over that hurdle of, "I don't know if I want this. I don't know if it's gonna fit, so I'm gonna get it, try it, and then if I like it I'll pay." Their average order value, they actually do have a slice it product as well here in the US. I think the average order value for that is around $1100.
So again, those three really play more in the higher basket space, relative to Sezzle. And then PayPal Credit is probably the most familiar out of any of these, because it's PayPal. They were formerly Bill Me Later, and they're really the grandfather of this whole alt financing space. They offer essentially digital lines of credit within the PayPal app, so if you're a PayPal user, you check out with PayPal, you can choose to pay with a digital line of credit that PayPal extends to you instead of whatever card or bank account you have saved. They typically offer, I think 0% financing for purchases over $199 if you pay it off within six months.
But they do again, it's really like a credit card. You have to pay that off on time or you're gonna face some pretty hefty fees similar to a credit card. The other problem I've heard is that they primarily rely on just traditional credit score, so if you're a young shopper, you'll probably only get approved for like $100-$200, which doesn't help you go very far. It's funny, we work with several merchants that actually offer multiple of these solutions. We'll have some merchants that were alongside a firm, and if they have a wide range of product values, but if you cater to young shoppers or you're trying to attract more young shoppers, you really should look into offering these solutions.
You'll be shocked, I think, at the impact to your cart insertion rates, your card conversion rates, and your basket sizes. I think merchants that we're working with have about 6% higher shopping cart insertion rates relative to average. They also have about 40% higher conversion rates, relative to your average merchant. Definitely look at offering alternative financing to your shoppers.[inaudible 00:34:20]
Hey Andrew, you sound like roboto, I don't know if that's just me, but [inaudible 00:34:32] I don't know if it's anybody else, but you sound like Mr. Roboto to me.
Andrew Maff: How about now?
Paul Paradis: Yeah, that's a lot better.
Andrew Maff: Killing me. The thing I was gonna say about this. One of the things I really like about this approach is A, this is a relatively new thing, at least for ... My wife, who's in the other room, hates when I say this, but I use her as my example of the average consumer because she doesn't read anything, she just goes and shops and looks at pictures, and then that's the end of it. She started noticing these type of payment options before I did, which hurts considering I do this every day. Sezzle one of them that she came across and I was like, "I have no idea what this is." I started looking into it, and thanks to you guys, she spent more than I wanted her to, but it's fine. It is what it is. Happy wife, happy life, right?
I started to look into this, and the thing I noticed is that a lot of sellers we work with now, if they're really new, the larger ones have an established brand. They understand having this as an option can definitely help increase conversion rates or increase the average order value, but what the smaller ones don't realize is that when you're starting off, eCommerce is nowhere near as easy as it used to be, where you could just launch a product on Amazon or put up your on site and all of a sudden everyone's buying stuff and you're rich and you're vacationing all the time. It's just not that simple.
One of the things that I've noticed is that a lot of people go, "Well, what I'm gonna do different, is I'm gonna brand myself, and I'm gonna be a premium brand. Even if I do sell less, I'm charging more. I'm gonna have bigger profits. I'm gonna make more money." It's just not that easy. There's so much marketing spend that has to go into solidifying this premium brand. Having nice logos and all that stuff is great, and the look, but it's the word of mouth and it's getting everyone involved. Basically, this can really help. When a new premium brand comes out and they're charging a little bit more than their competitor, this can really help ease the consumers into this new brand, by saying, "Ah, you know, I don't want to spend $150, $200 on some clothes or on a new purse or anything along those lines, but if it's a new brand and I'm only paying $50 every couple weeks, yeah why not?" They'll give it a try.
I find that the newer premium brands get a real big insight from this, a lot of help in terms of starting off, because it's such a slower start for some of those brands. I'll close out with one more thing on my end. This is something that we put as a checklist for all websites that we use, because I see a lot of people that don't use this. This shockingly increased conversion rates. It wasn't like a massive game changer, but .5% is great, like why not? This is the Google Maps API. It's completely free. It's like a Google developer account. You get your own API. You can connect it Shopify, Big Commerce, they all have those options.
Basically what will happen, is you connect to Google, and if someone starts to type in their address, it starts to auto select what their address is. Now, not a big game changer, but you're looking at cutting two, three minutes out of the consumers time of filling out this information, if they're a slow type, maybe a minute or two. This actually helped a lot, and this is really easy, completely free, simple to set up, takes 10-15 minutes tops, and then your whole back end is completely set up. Especially if you have a whole auto fill selection. This is definitely something we always suggest looking into, especially on mobile it works really well.
This is always something we find helps lessen abandoning carts because it's towards the end of the check out. Then of course, as I mentioned earlier, you always want to have a backup plan. When all else fails, you gotta have pop ups. You need to have your initial popup, your exit intent. If you have an exit intent in checkout, you may want to offer a bigger discount or have something else that's really enticing. You're never gonna get your conversion rate to 100%. You're never gonna get your abandoning cart rate down to zero. It's not gonna happen, and the sooner you accept that the better. Always have a backup plan, and that backup plan should be getting an email. If you don't get the sale, get an email. The second most important KPI is an email, so you want to get the email, so that way you can re market to them later, and you can start the whole cycle over again and try to get them to come back in.
That is what I always suggest to have, is just a nice little backup plan to get them to come back. That was all Paul and I had today. Very appreciative of everyone who joined us. Of course we have a couple of giveaways, but I'd love if you guys have any questions or if you have anything like that, feel free to start getting them in. If not, we can always get to them later. Paul and I will give out our information so you guys can reach us. Paul, why don't you tell us a little bit about what you got here?
Paul Paradis: Yeah, so any merchant on the call that wants to give Sezzle a try, we're offering a free 30 day trial of Sezzle. Sounds like a majority of you may be on Shopify. We have Shopify app and gateway, so it's a super easy integration. Most of our Shopify customers can be processing order the same day they sign up. That link right there will get you to the landing page where you can get 30 day free trial. If you just want to learn more about Sezzle and schedule a demo with our sales team, you can go to that link there and schedule a demo to learn more.
Andrew Maff: Perfect. So what I have, I mentioned the pop ups at the very end there. You make sure you want to grab that email and put them back into this funnel and try to get them to convert, so automated triggered emails so that you don't have to continuously be on top of the emailing consumers. We put together this big old ebook about all of the automated emails we suggest setting up, when to time them, what should be on them, when to offer a discount, when not to, all that fun stuff. We put together this ebook. It's not gated, there's nothing there, just type that in and it'll start downloading on its own. And then marketing consultation, I promise I won't try to sell you anything, I'll just help you guys out.
You can ask me anything you want and I will help you guys with any marketing that you guys are doing, whether it's conversion rates or anything else. It's sellerschoice.agency/giveaway. I chose not to change the password from the last webinar, that's just me being lazy, I apologize, but it's amazontraffic. Then, down at the bottom, feel free to reach out. I'm on social, so I'll help you guys out. If you ever have any questions, feel free to ping me, and I will help you as soon as I can. But it looks like that is about all we have, so thank you so much. Paul, you're hitting the golf course, correct?
Paul Paradis: Yeah, pretty soon here, I gotta make the drive a couple hours up northern Minnesota.
Andrew Maff: There you go. All right, well you enjoy. You enjoy your golf course. Everyone, thanks so much for joining us, really appreciate it. We're gonna send out the slides, as well as the video in a couple days. You'll have everything you need. If not, feel free to reach out. My email is email@example.com, or you can ping me on social there. Paul, any closing remarks?
Paul Paradis: No. If you want to email me directly, easiest email address to remember is firstname.lastname@example.org, but really appreciate the time today Andrew. That was a lot of fun.
Andrew Maff: Yeah, thanks guys. I appreciate it. Everyone enjoy your week and we'll see you out there.