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If you are not actively using checkout automation for your business as a creator, it's time to get on the boat. This is Scott Moran the co-founder at , a platform for commerce that caters to creators, and checkout automation is the future of the world of e-commerce.
We'll discuss four strategies to make use of the same technology Amazon and Apple are pouring huge amounts of cash into in order to make greater profits from your digital product sales. Everything in this article is pulled straight from a mini-book that we wrote known as The Checkout Automation Blueprint. If you're interested in the four techniques we'll provide you with now take a look here to download a no-cost copy of the book and get 18 more just like it.
Checkout Automation is a basic idea, however it's probably it's not something you've heard before. This isn't talking about automated checkouts that can never tell when you've put the bananas in your bag, or it's not. Checkout Automation refers to the way you increase your revenue and profit through combining information and customer habits to deliver the appropriate product at the appropriate time for the appropriate customer.
Think of how when you order diapers to feed your child at Amazon Then Amazon suggests adding baby wipes with the purchase. This is checkout automation at work.
Or how your favorite softwares give you a chance to upgrade to annual billing after you log in for the 5th time. This is checkout automation. If you're able to intelligently show to the correct person with an offer that is appropriate, and when it's appropriate and you'll win. Checkout Automation is already taking over the world of e-commerce. We'll now discuss four easy ways to get in on the action and earn more money from your digital product sales.
The first thing to do is talk about pre-applied coupons. From the Database We know that when coupons are added to an order, conversions are up by 41! When our developers apply coupons to a client, we've witnessed conversions as much as twice.
For your very first tip of checkout automation, give your customers who are new to you a discount to buy something else when they purchase. In , you can modify the receipt of an order for every single item that you offer.
So when someone buys the 6-week plan for meals it is possible to modify the receipt so that it includes the link to purchase the exercise plans. You can also include a coupon pre-applied that gives them 20% off for becoming a brand new customer which means you've handed to the correct person the perfect offer in the perfect moment.
The next step is to talk about the Late Inning Payment Plan.
Pay-per-click plans are extremely popular in digital goods. If you're selling seats in your group training, an expensive service, or even a high-priced course, it's super normal for digital artists to offer multiple payment options.
Therefore, customers are able to make a full payment, or break up that payments into smaller pieces by buying with a payment plan. Here's a bit of magical fairy dust for checkout automation to sprinkle over your payment plans in order to get even more profit from the plans.
Don't offer a arrangement right off the bat. Therefore, if you're hosting an event that has attendees then the option following the presentation should not include a payment plan. Or at least, not right away. Give your audience one alternative, which is to make the payment fully. Then, as you come closer to the deadline to buy, introduce your option for payment plans.
Keeping the payment plan back until the "late period" is a way to earn even more cash, since more customers decide to make a full payment. And then introducing the payment plan acts as another reason for your audience to reconsider what you're selling. People get banner-blindness so quickly. The introduction of a payment plan can be an incentive for users to visit again and check out.
Bonus points if you introduce your payment plan on in the days before closing the offer. The added conversion boost due to the timer that ticks off will be a conversion-boosting trampoline. However, instead of falling down in a crash and breaking the arm you just get a ton of paying customers.
For putting this in practice To implement this, you must take your sales webpage and duplicate it inside of . On the newly duplicated product, add your payment plan as an option to your customers. So now you'll have one page where you can pay full, and a second page with a payment plan. On the initial day or twodays, direct visitors to the page with just the full amount. Once your promotion is finished you can begin to send people to the duplicate page, with the option of paying in full or the option of a payment option.
The last check-out automation technique is known as"The Early Payoff.
Did you recall all the plans for payment that you sold during the previous strategy? You're likely to have sold hundreds of plans by the time you're writing this. When you use payment plans, you are making a huge tradeoff. You're saying it's worth it to get more customers, as a result of not having to collect all the money up front.
So what if you were able to have the cake and eat it too? Keep in mind that checkout automation is about getting the right offer, in front of the right person, at the right moment. So the next time you're dealing with a lot of clients who are on the payment plan, make sure you send them this email.
After 30 days from the time someone purchases the product, send an email that gives them a chance to save 20% by taking care of the remainder of their subscription earlier. Prompt them to simply reply "YES!" To the email and you'll be able to take care of all the other issues.
If you are getting these "YES" responses, open that customer's purchase and hit the Payoff button. Add the discount you'd like and then utilize the card of the customer on record to get the remainder of that money.
It's easy for users like. Easy for the client. And you're massively increasing the flow of cash. Don't worry about losing your payment plan revenue in the event of failed or declined payments. Use an early payoff to make cash-in now.
Ok last one. Checkout Automation technique number 4 is called"Subscription Saver.
These recurring payments that we've mentioned ....they are all extremely hazardous. Anyone who has subscriptions to a membership program and payment plans to a course, or has customers who have retained services knows that collecting money on autopilot is the holy grail of digital commerce.
But, have you ever stopped to consider how declined payments, lost or stolen credit cards or the fact that your card is expired can affect the recurring income? Here's a crazy stat from the database. The average credit card successfully bills 4.33x before problems kick in. Also, you can reasonably be expecting 5 months of continuous bill until the declined charges begin taking away your profits.
What does checkout automation have to say? The Subscription Saver can be described as your automatized robot butler who works throughout the night to keep your revenue streams from depleting month after month after month.
When a customer's card declines the system responds and sends the customer an email with a special link to update their card right from their inbox. Always not content with their achievements, Subscription Saver continues this automatic process, which takes four attempts in the span time of sixteen days.
Combine that with Card Account Updater which uses AI to ensure that when your customer updates their card at their local gym, that automatically update their account on the file to allow for your membership. It is easy to see how automated core processes similar to this is a and dunk for anybody who has recurring sales.
Checkout Automation isn't really the future. It's here now, on every major site you use, in almost every program that you use on a daily basis. The most important thing is getting checkout automation to work for you and your business.
If you're interested in 22 more checkout automation strategies that can make you more money, then make sure you grab the The Checkout Automation Blueprint.