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If you are not actively making use of checkout automation within your creative business it's time to get on the opportunity. I'm Scott Moran the co-founder at the platform that allows commerce for creators, and checkout automation is the future of eCommerce.
Let's look at four ways that you can leverage the same technology that Amazon and Apple have poured huge sums of cash into in order to make more profit out of your sales of digital goods. The information in this article was drawn from a book we created called the Checkout Automation Blueprint. If you're interested in the four techniques we'll provide you with now take a look to this page to get a free copy of the book and obtain 18 additional strategies similar to it.
Checkout Automation is an easy idea, however it's probably it's not something you've heard before. It's not about automated checkouts that can never tell when you've packed your bananas in the bag or the bag is empty. Checkout Automation is when you are able to increase profits and revenue through the combination of data and consumer behaviour to make the best deal at the right moment to the right buyer.
Think of how when you purchase diapers and wipes for the toddler on Amazon And Amazon advises you to add baby wipes to the order. That's checkout automation in action.
Or how your favorite softwares allow you upgrade to annual billing once you log in five times. This is checkout automation. If you're able to intelligently show the right person, with the right offer, when it's appropriate and you'll win. Checkout Automation is already taking over the world of e-commerce. Let's look at four simple ways that you can get in on the action and earn more money from your digital product sales.
First, let's discuss coupons that are pre-applied. From the Database, we know that when a coupon is added to an order, conversions are 41% higher! If our designers offer coupons for the customer, we've observed conversion rates nearly twice.
For your very first tip to automate checkouts, you can offer your new customers a special discount on other items after they buy. You can also modify the receipt of an order for each individual product you sell.
When someone purchases the 6-week plan for meals it is possible to modify the receipt so that it includes an online link for the purchase of fitness plans that are included. Include a pre-applied coupon that gives the customer 20% discount for having a new account, and you've just given an individual the right offer, at the right time.
Let's discuss about the Late Inning Payment Plan.
Pay-per-click plans are extremely popular in digital goods. Whether you're selling a seat inside of your cohort training or an expensive service or high-ticket course, it's super common for digital creators to include several choices for payment.
So customers can pay in full and break the payments into smaller pieces when they purchase using an installment plan. Here's a bit of magical fairy dust for checkout automation to sprinkle over your payment plans in order to get more from them.
Don't offer a payment plan right out of the gate. Therefore, if you're hosting the possibility of hosting a webinar where people can attend then the option after the session should not be the option of a payment plan. At least, it shouldn't be immediately. Present your audience with one alternative, which is to make the payment fully. As you move closer to the date to buy, introduce your alternative payment plan.
The delay in introducing the payment plan until the "late innings" will make you more money, as more customers decide to make a full payment. And then introducing the plan provides an additional incentive for the audience to rethink what they're buying. People get banner-blindness so quickly. Offering a payment plan could be one of the reasons people return and revisit.
Bonus points for introducing the payment plan one day prior to closing off your deal for good. The added conversion boost by the ticking timer down will function as a conversion-boosting trampoline. Instead of falling off or breaking an arm, you'll get plenty of new paying customers.
For putting this in practice Take your sales page and make a copy inside . In the new product you can add your payment option as an option to your customers. So now you'll have one page that allows you to pay in total, and another page with an option for payment plans. On the initial day or so, you should send people to the page with just pay in full. When your offer is over begin sending visitors to the duplicate page, where they can choose between either paying the full amount or using the option of a payment arrangement.
The final automated checkout strategy is known as The Early Payoff.
Did you recall all the plans for payment you sold in the last strategy? I bet you've sold hundreds by now. Well, when you do offer payments plans, you're making a huge tradeoff. The idea is in order to gain more clients in exchange for not collecting every penny upfront.
What if you could enjoy the cake and eat it too? Keep in mind that checkout automation is about getting an offer that is right, the hands of the appropriate person and at the appropriate date. When you have a bunch of clients who are on payments, you can contact them with this message.
After 30 days from the time someone purchases an item, you can send them an email to them to give them the opportunity to save 20% on taking care of the balance of their subscription early. Prompt them to simply reply "YES!" To the email. Then, they can handle the rest.
If you are getting these "YES" answers, look up the customer's order and click on"Payoff". Add the discount you want, and use the card of the customer on account to take the remaining of the cash.
Simple for you. Easier for the customer. Also, you'll be significantly increasing your cash flow. Don't worry about losing your the revenue from your payment plan due in the event of failed or declined payments. Pay off early to cash in now.
Okay, last one. Checkout Automation technique number 4 is referred to as the Subscription Saver.
The recurring payment options we've just mentioned ....they can be extremely risky. Any creator that has subscriptions for a membership, payment plans for an online course, or client retainers for an item knows that getting cash on autopilot is considered to be the holy grail of online commerce.
Have you thought about how denial of payment, stolen or lost credit cards, or the fact that your card is expired can affect that recurring revenue? Here's a crazy stat from the database: the average credit card is able to rebill 4.33x before problems kick in. Also, you can reasonably expect 5 months of recurring charging until charges that are declined start taking away your profits.
Sow what does checkout automation have to tell us about this? The Subscription Saver is your automatic robot that operates all hours of the day to safeguard your revenue streams from depleting month after month after month.
In the event that a card is declined by a customer it takes action and emails that customer with a unique link to update their card right from their mailbox. Always not content with their achievements, Subscription Saver continues this procedure automatically and makes 4 different attempts over the course of 16 days.
Combine that with Card Account Updater, which utilizes AI to guarantee that when your customer updates their credit card at the local gym, it automatically update their account on file for your membership. And you can see how automated core processes similar to this is a and dunk for anybody with recurring sales.
Checkout Automation isn't really the next thing. This is available now on every major site that you visit, and in nearly every program that you use daily. It's all about bringing automated checkout to benefit the business and you.
If you're looking for 22 additional ways to automate checkouts that will make you more money Make sure to take a look at Blueprint for Checkout Automation.