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Evolving eCommerce:
CHECKOUT PROCESS OPTIMIZATION:
 The Magento eCommerce Forum
        11 STEPS TO INCREASING REVENUE
                          NOVEMBER 2012
Ethan Giffin                                      Shane Lundy                       Mack McGee
           CEO                                       VP, Sales & Business                 VP Sales & Marketing
     Groove Commerce                                     Development                       Groove Commerce
         Speaker                                           buySAFE                               Host
                                                           Speaker



November 2012   Webinar | Magento SEO
                          Checkout Process Optimization: 11 Steps to Increasing Revenue                          2
Our goal is to bridge the gap between
marketing and technology and deliver a
user-friendly, high converting product to
each one of our clients.
                                                                                           www.groovecommerce.com
Services include:                                                                          800.564.9826
       •  Website Design                                                                   @GrooveCommerce
       •  Magento Development & Integration
       •  Inbound Marketing Services
                 •  Social Media Marketing
                 •  Pay Per Click Management
                 •  Search Engine Optimization
       •  Email Marketing
       •  Site Analysis
       •  Conversion Consulting




 November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue                            3
buySAFE enables online merchants to
provide a third-party Guaranteed
Shopping program which increases
confidence and buyer satisfaction.
Merchants use buySAFE Guaranteed to                                                        www.buysafe.com
increase:                                                                                  888.926.6333
       •  Website Conversion
       •  Order Value
       •  Repeat Buyers
       •  Website Sales (20x ROI GUARANTEED)




 November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue                     4
•         Why Your Checkout Process Matters
•         11 Checkout Optimization Steps
•         Importance of Customer Assurance
•         BONUS Step
•         Q&A




     November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   5
POLL #1
                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   6
The average checkout
     consists of 5.08 steps…

                         24% require account registration


50% asks for the same information twice



 November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   7
POLL #2
                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   8
STEP #1
                                ENSURE PAGES LOAD QUICKLY


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue             9
Walmart.com:
Converted shoppers
received pages that
loaded 2X faster than
non-converted shoppers…
                         http://groov.co/UHmDDq


November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   10
1.  Turn on
    compression
2.  Remove
    unneeded code &
    files
3.  CDN hosting
4.  Use Google
    jQuery scripts
5.  Full-page caching
6.  Track server
    errors &
    performance
    (New Relic)


   November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   11
STEP #2
                OFFER GUEST CHECKOUT WITHOUT
                                REGISTRATION

                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue         12
•         8 of the 10 top US eTailers offer it
•         25.6% of online consumers would abandon
          a purchase if forced to register [econsultancy]
•         Average cart abandonment is 65%
•         Why risk it?




     November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   13
STEP #3
                                                                               KEEP FORMS SHORT


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue         14
•         Don’t Ask if You Don’t Need
•         Don’t Ask for Answers You Already Have
•         Pre-Populate Fields if You Can
•         Maintain Form Data if Errors Happen
•         Especially Important for mCommerce




     November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   15
STEP #4
PROVIDE CLEAR PROGRESS INDICATORS


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue         16
Examples include:
•         25% done
•         Step 1 of 3
•         Billing à Shipping à Payment à Summary




     November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   17
November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   18
STEP #5
                                                  PROVIDE SHIPPING COSTS
                                                         EARLY AND OFTEN

                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue         19
•      Show the final price before checkout
•      Confirm availability
•      Removes customer concerns
•      Set expectations
•      Reassurances if anything goes wrong




November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   20
STEP #6
                PROVIDE CLEAR CALLS TO ACTION


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue         21
•      Differentiate checkout/continue shopping
       button colors
•      Make next step button obvious >>
•      Customers should be clear on how to
       proceed to the next step in the checkout
•      Enable backtracking without losing form
       data
•      Test color & font options



November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   22
STEP #7
                                 MINIMIZE OTHER NAVIGATION


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue         23
•         Remove anything not needed
•         No distractions
•         Use jQuery popups for assurances




     November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   24
STEP #8
                                                         PROVIDE A GUARANTEED
                                                          SHOPPING EXPERIENCE

                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue         25
•      Provide reassurances of personal
       information security
•      Merchant is reliable and underwritten by
       3rd party
•      Customer is getting the best price




November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   26
The structure of the Internet creates a
disconnected purchase experience and
shopper concerns:
                                                                     of consumers say that shopping
                                                                     online is RISKIER than

                73%                                                  shopping offline.
                                                                     - Visa/CyberSource




                                                                     of consumers will bounce from


                98%
                                                                     the site and make the purchase
                                                                     elsewhere.



November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue               27
•      High hassle factor with problem resolution
•      Heavy reliance on merchant performance
•      Plethora of choice equals price
       uncertainty
•      More perceived risks to personal
       information security & privacy




November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   28
1.      Will my personal information (identity) be kept safe &
        secure?
                 “64% of identity theft originates                                        “83% of online users worry about
                 online”                                                                  their identity being stolen from an
                   - US Federal Trade Commission                                          online purchase”- VeriSign

2.     Will the product be authentic, arrive on time and if there is
       a problem, will the merchant provide great customer
       service?

                             “92% of shoppers have concerns when                              “61% of all complaints are for
                             shopping on new and unknown                                      merchant non-performance”
                             websites“ - McAfee Security                                       - National Consumers League



3.     Am I getting the best price?

                                                         “45% of shoppers view price as most important”- BizRate Research




November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue                                         29
November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   30
Information Merchant
                                               Security  Reliability                       Price


Prevention




Resolution


 November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue           31
STEP #9
                                                             PROVIDE HELP OPTIONS


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue         32
•     Make phone easy
      to Find
•     Extend customer
      service for peak
      holiday times
•     Don’t make users
      leave cart to live
      chat
•     Proactive chat
      with your best
      customers
•     Cart-based rules
      for chat (Velaro)



     November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   33
STEP #10
                                       MULTIPLE PAYMENT OPTIONS


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue          34
•      Different payment methods help appeal to
       as many potential customers as possible
•      Leads to increased sales & revenue




November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   35
STEP #11
                                             PROVIDE A FINAL SUMMARY


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue          36
•      Provide a full summary before final
       submission so customers can ensure they
       entered everything properly
•      Include order number
•      Contact information
•      Social icons




November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   37
POLL #3
                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   38
BONUS: STEP #12
                                     CONSISTENTLY REVIEW DATA


                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   39
•      Review funnel tracking data
•      Refine & test top exit areas
•      2 types of testing & analytics
        • Single page
        • Site-wide




November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   40
POLL #4
                           Why Magento?

November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   41
www.groovecommerce.com/webinar
                         Questions? Contact Us
                info@groovecommerce.com | (888) 924-1951




November 2012   Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue   42

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[Webinar November 2012] Checkout Process Optimization: 11 Steps to Increasing Revenue

  • 1. Evolving eCommerce: CHECKOUT PROCESS OPTIMIZATION: The Magento eCommerce Forum 11 STEPS TO INCREASING REVENUE NOVEMBER 2012
  • 2. Ethan Giffin Shane Lundy Mack McGee CEO VP, Sales & Business VP Sales & Marketing Groove Commerce Development Groove Commerce Speaker buySAFE Host Speaker November 2012 Webinar | Magento SEO Checkout Process Optimization: 11 Steps to Increasing Revenue 2
  • 3. Our goal is to bridge the gap between marketing and technology and deliver a user-friendly, high converting product to each one of our clients. www.groovecommerce.com Services include: 800.564.9826 •  Website Design @GrooveCommerce •  Magento Development & Integration •  Inbound Marketing Services •  Social Media Marketing •  Pay Per Click Management •  Search Engine Optimization •  Email Marketing •  Site Analysis •  Conversion Consulting November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 3
  • 4. buySAFE enables online merchants to provide a third-party Guaranteed Shopping program which increases confidence and buyer satisfaction. Merchants use buySAFE Guaranteed to www.buysafe.com increase: 888.926.6333 •  Website Conversion •  Order Value •  Repeat Buyers •  Website Sales (20x ROI GUARANTEED) November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 4
  • 5. •  Why Your Checkout Process Matters •  11 Checkout Optimization Steps •  Importance of Customer Assurance •  BONUS Step •  Q&A November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 5
  • 6. POLL #1 Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 6
  • 7. The average checkout consists of 5.08 steps… 24% require account registration 50% asks for the same information twice November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 7
  • 8. POLL #2 Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 8
  • 9. STEP #1 ENSURE PAGES LOAD QUICKLY Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 9
  • 10. Walmart.com: Converted shoppers received pages that loaded 2X faster than non-converted shoppers… http://groov.co/UHmDDq November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 10
  • 11. 1.  Turn on compression 2.  Remove unneeded code & files 3.  CDN hosting 4.  Use Google jQuery scripts 5.  Full-page caching 6.  Track server errors & performance (New Relic) November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 11
  • 12. STEP #2 OFFER GUEST CHECKOUT WITHOUT REGISTRATION Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 12
  • 13. •  8 of the 10 top US eTailers offer it •  25.6% of online consumers would abandon a purchase if forced to register [econsultancy] •  Average cart abandonment is 65% •  Why risk it? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 13
  • 14. STEP #3 KEEP FORMS SHORT Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 14
  • 15. •  Don’t Ask if You Don’t Need •  Don’t Ask for Answers You Already Have •  Pre-Populate Fields if You Can •  Maintain Form Data if Errors Happen •  Especially Important for mCommerce November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 15
  • 16. STEP #4 PROVIDE CLEAR PROGRESS INDICATORS Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 16
  • 17. Examples include: •  25% done •  Step 1 of 3 •  Billing à Shipping à Payment à Summary November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 17
  • 18. November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 18
  • 19. STEP #5 PROVIDE SHIPPING COSTS EARLY AND OFTEN Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 19
  • 20. •  Show the final price before checkout •  Confirm availability •  Removes customer concerns •  Set expectations •  Reassurances if anything goes wrong November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 20
  • 21. STEP #6 PROVIDE CLEAR CALLS TO ACTION Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 21
  • 22. •  Differentiate checkout/continue shopping button colors •  Make next step button obvious >> •  Customers should be clear on how to proceed to the next step in the checkout •  Enable backtracking without losing form data •  Test color & font options November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 22
  • 23. STEP #7 MINIMIZE OTHER NAVIGATION Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 23
  • 24. •  Remove anything not needed •  No distractions •  Use jQuery popups for assurances November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 24
  • 25. STEP #8 PROVIDE A GUARANTEED SHOPPING EXPERIENCE Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 25
  • 26. •  Provide reassurances of personal information security •  Merchant is reliable and underwritten by 3rd party •  Customer is getting the best price November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 26
  • 27. The structure of the Internet creates a disconnected purchase experience and shopper concerns: of consumers say that shopping online is RISKIER than 73% shopping offline. - Visa/CyberSource of consumers will bounce from 98% the site and make the purchase elsewhere. November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 27
  • 28. •  High hassle factor with problem resolution •  Heavy reliance on merchant performance •  Plethora of choice equals price uncertainty •  More perceived risks to personal information security & privacy November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 28
  • 29. 1.  Will my personal information (identity) be kept safe & secure? “64% of identity theft originates “83% of online users worry about online” their identity being stolen from an - US Federal Trade Commission online purchase”- VeriSign 2.  Will the product be authentic, arrive on time and if there is a problem, will the merchant provide great customer service? “92% of shoppers have concerns when “61% of all complaints are for shopping on new and unknown merchant non-performance” websites“ - McAfee Security - National Consumers League 3.  Am I getting the best price? “45% of shoppers view price as most important”- BizRate Research November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 29
  • 30. November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 30
  • 31. Information Merchant Security Reliability Price Prevention Resolution November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 31
  • 32. STEP #9 PROVIDE HELP OPTIONS Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 32
  • 33. •  Make phone easy to Find •  Extend customer service for peak holiday times •  Don’t make users leave cart to live chat •  Proactive chat with your best customers •  Cart-based rules for chat (Velaro) November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 33
  • 34. STEP #10 MULTIPLE PAYMENT OPTIONS Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 34
  • 35. •  Different payment methods help appeal to as many potential customers as possible •  Leads to increased sales & revenue November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 35
  • 36. STEP #11 PROVIDE A FINAL SUMMARY Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 36
  • 37. •  Provide a full summary before final submission so customers can ensure they entered everything properly •  Include order number •  Contact information •  Social icons November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 37
  • 38. POLL #3 Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 38
  • 39. BONUS: STEP #12 CONSISTENTLY REVIEW DATA Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 39
  • 40. •  Review funnel tracking data •  Refine & test top exit areas •  2 types of testing & analytics • Single page • Site-wide November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 40
  • 41. POLL #4 Why Magento? November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 41
  • 42. www.groovecommerce.com/webinar Questions? Contact Us info@groovecommerce.com | (888) 924-1951 November 2012 Webinar | Checkout Process Optimization: 11 Steps to Increasing Revenue 42