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If you are not actively making use of checkout automation in your creator business, then you are missing the opportunity. This is Scott Moran the co-founder at , the commerce platform for creators. Automation of checkouts is what's next in e-commerce.
Let's talk about 4 methods to leverage similar technology to the ones Amazon as well as Apple have poured huge sums of money into to pull 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 impressed by the 4 methods we'll show you today go here to get a free copy of the book and obtain 18 additional strategies similar to it.
Checkout Automation is a simple idea, but perhaps not a term you've heard. It's not about those automated checkouts that are unable to tell whether you've packed your bananas into your bag or the bag is empty. Checkout Automation refers to the way you are able to increase the revenue and profits of your business by combining data and buyer habits to deliver the appropriate deal at the right moment for the appropriate person.
Think of how when you buy some diapers and wipes for the toddler on Amazon Then Amazon suggests adding baby wipes to the order. This is checkout automation at work.
Or how your favorite softwares give you a chance upgrade to annual billing once login for the 5th time. It's called checkout automation. If you can intelligently present to the correct person with the appropriate offer in the appropriate time and you'll win. Checkout Automation is already taking the lead over e-commerce. Let's look at four basic ways you can get in on the action and pull more revenue from sales of your digital products.
The first thing to do is discuss coupons that are pre-applied. From the Database, we know that when a coupon is added to an order, the conversion rate is up by 41! When our creators offer coupons for the client, we've witnessed conversions up to double.
For your very first tip of automated checkout, offer your customers who are new to you a discount for buying something else after they buy. In , you can personalize the purchase receipts for every single item you offer.
When someone purchases your meal plan that lasts for six weeks, you could modify the receipt so that it includes the link to purchase the exercise plans. Include a pre-applied coupon that gives customers 20% off becoming a brand new customer and now you've given an individual an offer that is right for them, and at the right time.
The next step is to talk about the Late Inning Payment Plan.
Payment plans are super popular when it comes to digital goods. Whether you're selling a seat inside of your cohort training, an expensive service, or high-ticket course, it's super typical for digital designers to offer several choices for payment.
So customers can pay in full and break the payment into smaller parts by buying with a payment plan. Well, here's a little checkout automation magic fairy dust to sprinkle over your payment plans in order to get more from the plans.
Do not offer your payment plan right out of the gate. Therefore, if you're hosting an event that has attendees, the offer following the presentation should not include the option of a payment plan. At least, at least not immediately. Give your audience one option, to pay in full. As you move closer to the date to purchase, present your payment plan option.
Keeping the payment plan back to the "late stage" can earn you greater profits, because increasing numbers of customers choose to settle in full. And then introducing the plan provides another reason for your audience to reconsider what you're selling. People get banner-blindness so quickly. Offering a payment plan could be one of the reasons people visit again and check out.
Bonus points when you announce your payment plan on one day prior to closing down your offer for good. A boost in conversion from the countdown timer ticking off will be a conversion-boosting trampoline. But instead of falling or breaking an arm, you just get a ton of brand new customers.
To put this into practice To implement this, you must take your sales webpage and make a copy inside . Then, on the duplicated page you can add your payment option as an option for your clients. You'll then have one page that allows you to pay in full, and a second page with the option of a payment plan. The first day, or so, you should send people to the site with only paying in full. Once your promotion is finished you can begin to send people to the duplicated page where they can choose between paying in full or the payment option.
The last check-out automation technique is known as"The Early Payoff.
Remember all those payment plans you sold in the last strategy? I bet you've sold hundreds by now. Well, when you do have the option of payment plans, you're making a huge tradeoff. It's a way of saying that it's worthwhile in order to gain more clients in exchange for not collecting all of the cash upfront.
Well what if you could have your cake and eat your cake too? Keep in mind that checkout automation is about getting the correct offer in the hands of the person who needs it, at the right time. When you're dealing with a lot of customers on payments, you can contact them with this message.
Within 30 days of someone purchasing, fire off an email that gives them a chance to save 20% on paying off the amount of their subscription in advance. Invite them to respond "YES!" To the email. Then, they can handle everything else.
If you are getting these "YES" answers, look up the customer's order and click on the Payoff button. Add the discount you want, and use the customer's card in file to collect the rest of the cash.
It's easy for users like. Easy for the client. You'll also be able to significantly increase the flow of cash. Never worry about losing the revenue from your payment plan due in the event of failed or declined payment attempts. Make use of early payments to make cash-in today.
Ok last one. Checkout Automation technique number 4 is known as"Subscription Saver..
These recurring payments that we've talked about ....they are all extremely dangerous. Anyone who has subscriptions to a membership program, payment plans for courses, or clients who are retaining an item knows that getting funds on autopilot is the ultimate goal of digital commerce.
However, have you stopped to consider how declined payment options, theft or lost credit cards, or the fact that your card is expired can affect this recurring revenue? This is a shocking statistic from the database, the average credit card successfully bills 4.33x prior to problems kicking in. Also you should be expecting 5 months of continuous charging until charges that are declined start slowing down your sales.
What does checkout automation have to say? The Subscription Saver can be described as your automated robot butler that works throughout the night to keep your revenue streams from depleting every month.
In the event that a card is declined by a customer the system responds and emails that customer with a unique hyperlink to upgrade their card directly from their email inbox. Always not content with their achievements, Subscription Saver continues this procedure automatically and makes 4 different attempts over the course over 16 calendar days.
Combine that with Card Account Updater that uses AI to make sure the moment your client updates their account at their local gym, it update their account on the file to allow for your membership. And you can see how automated core processes like this are a slam cash-maker for any that has regular sales.
Checkout Automation isn't really the next thing. It's here now, on every major site you use, in almost every program that you use daily. The most important thing is getting the checkout automation system to work for you and your business.
If you're looking for 22 additional ways to automate checkouts that will increase your profits ensure you take a look at Checkout Automation Blueprint.