Use PayPal to increase conversions on your e-commerce store
How to use PayPal to increase conversion rates
PayPal makes it easy for people to manage and move money online. If you own an online store PayPal makes it quick for you to process customer’s orders. It can be a convenient payment option for potential customers. You may not have enabled PayPal in your store because enabling PayPal can cause a lot of transaction fees for both the customer and the seller. Some sellers feel like they don’t have the sale volume to warrant that kind of transaction fees. You may feel like the transaction fees might take up a large part of your profits.
If you are selling anything online you should be aware of your checkout conversion rates. This is the percentage of visitors who actually buy something from your online store. This is probably the most important metric to online retailers. There is a lot of information online that helps online retailers optimize their store in order to improve conversion rates. PayPal makes the checkout process as easy as possible therefore using PayPal on your online e-commerce store will increase your sales drastically. Making the checkout process as simple as possible will lead to a much higher checkout rate.
PayPal streamlines the checkout process
The Baymard Institute estimates that the average shopping cart abandonment rate is 69%. This means that around 3 of every shopper abandons their cart before completing the checkout process. The likely hood of shoppers abandoning their cart is actually very high. The more clicks and keystrokes it takes to check out the more likely it is that the customer will actually abandon the shopping cart.
PayPal is simpler for merchants as well
PayPal is advantageous to sellers as well in the sense that PayPal functions in the same way that a credit card does. PayPal allows merchants to get paid whilst giving the buyer some time to pay up.