YouTube icon
If you are not actively making use of checkout automation for your business as a creator, it's time to get on the opportunity. This is Scott Moran the co-founder at , a platform for commerce that caters to creators. Checkout automation is what's next in eCommerce.
Let's talk about 4 ways that you can leverage the same technology that Amazon and Apple are dumping ungodly sums of money into to pull greater profits from your digital product sales. This article has been drawn from a book that we wrote that we titled The Checkout Automation Blueprint. If you like the 4 strategies we'll give you now take a look here to get a free copy of this book . You can also obtain 18 additional strategies similar to it.
Checkout Automation is a simple concept, but maybe not a term you've heard before. It's not about automated checkouts that are unable to tell whether you've packed your bananas into your bag or not. Checkout Automation is when you increase your profits and revenue by combining data and buyer behavior to present the right offer at the right time to the correct buyer.
Think of how when you order diapers to feed your child from Amazon Then Amazon recommends adding some baby wipes in the cart. It's checkout automation in action.
For instance, how some of your preferred softwares give you a chance to switch to annual billing when you login five times. This is check-out automation. If you are able to present the right person, with the right offer, at the right time and you'll win. Checkout Automation is already taking advantage of the world of e-commerce. Let's look at four simple ways that you can take advantage of the trend and make more profit from sales of your digital products.
First, let's talk about pre-applied coupons. From the Database We know that when coupons are included in the order, conversions can be 41percent higher! When our developers apply coupons to a customer, we've seen conversions as much as two times.
So for your first trick of automated checkout, offer your new customers a special discount on other items when they purchase. With it, you are able to customize the order receipt for each individual item that you offer.
So when someone buys the 6-week plan for meals You can alter the receipt to include an online link for the purchase of companion workout plans. Offer a coupon in advance offering the customer 20% discount for having a new account, and you've just given the right person, the right offer, just at the right moment.
Next, let's talk about the Late Inning Pay Plan.
The popularity of payment plans is high when it comes to digital goods. If you're selling seats in your group training or an expensive service or high-ticket course, it's common for digital creators to offer various choices for payment.
So customers can pay in full, or break up that payment into smaller parts when they purchase using an installment plan. Here's a bit of magical fairy dust for checkout automation to sprinkle on your payment plans in order to get the most of them.
You shouldn't provide a arrangement right off the bat. If you host a webinar that visitors attend, the offer following the session should not be the option of a payment plan. At least, not right away. Present your audience with 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 to the "late stage" can earn you even more cash, since increasing numbers of customers choose to settle in full. And then introducing the payment plan acts as an additional incentive for the audience to rethink what they're buying. People get banner-blindness so quickly. The introduction of a payment plan can be one of the reasons people return and revisit.
Bonus points when you announce your payment plan on the day before you close off your deal for good. An additional boost to conversions from the countdown timer ticking off will be an increase in conversion trampoline. But instead of falling or breaking an arm you'll get plenty of new paying customers.
For putting this in practice, take your sales page and copy it into . On the newly duplicated product you can add your payment option as an option to your clients. This means you'll now have a page where you can pay full, and a second page that also has an option for payment plans. For the first day or so, you should send people to the site with only the full amount. Once your promotion is finished begin sending visitors to the duplicated page where they can choose between either paying the full amount or using the installment option.
The final checkout automation strategy is called 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 in the past. Well, when you do have the option of payment plans, you're making a huge tradeoff. The idea is to attract more customers as a result of not having to collect all the money up front.
So what if you were able to have your cake and eat your cake too? Remember, checkout automation is all about putting an offer that is right, the hands of the person who needs it, at the right time. So the next time you've got a couple of clients who are on the payment plan, make sure you make sure you send them this email.
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% by taking care of the balance of their subscription early. Ask them to reply "YES!" To the email and you'll be able to handle the rest.
When you receive these YES responses, open that customer's purchase and hit the Payoff button. Incorporate the discount that you'd like, then use the customers card on record to get the remainder of that cash.
It's easy for users like. Easy for the client. And you're massively increasing the flow of cash. Never worry about losing payment plan revenue to declined cards and failed payment attempts. Use an early payoff to make cash-in now.
Okay, last one. Checkout Automation technique number 4 is referred to as the Subscription Saver.
These recurring payments that we've mentioned ....they are all extremely hazardous. Any creator that has subscriptions for a membership and payment plans to an online course, or customers who have retained an item knows that getting funds on autopilot is the holy grail of digital commerce.
However, have you stopped to consider how declined payment, stolen or lost credit cards or the fact that your card is expired can affect the recurring income? This is a shocking statistic from the database: the average credit card is able to rebill 4.33x prior to problems kicking in. Also you should expect 5 months of recurring billing until declined charges start slowing down your sales.
What does checkout automation tell us about this? The Subscription Saver is your automated robot butler that works throughout the night to keep the revenue you earn from shrinking each month.
In the event that a card is declined by a customer, springs into action and provides the user with a specific hyperlink to upgrade their card straight from their inbox. Not one to sit on their laurels, Subscription Saver continues this process automatically, with four attempts in the span over 16 calendar days.
Combine that with Card Account Updater which makes use of AI to ensure that the moment your client updates their account at their local gym, it update their account on file for your membership. It is easy to see how automating core functions such as this can be a and dunk for anybody that has regular sales.
Checkout Automation isn't the next thing. It's here now, on every major site that you visit, and in nearly every program you use every day. It's all about bringing the checkout automation system to work for the business and you.
If you want 22 more checkout automation strategies that can increase your profits ensure you download Checkout Automation Blueprint.