Need to grow your business? You need to improve the conversion rate of your visitors. Wondering how? Have you heard of PayPal Express Checkout?
It is imperative for online retailers to improve the rate of conversion for the growth of their business. PayPal is eBay’s payment service unit. The PayPal Express Checkout service has increased the conversion rate of many e-retailers since its introduction. The result of one-year comScore analysis attests to the veracity of this statement. This analysis has identified 59.1% customers to be interested in making transactions through PayPal. This number authenticates PayPal’s claim of increasing the conversion rate for e-commerce websites.
Benefits of paypal express checkout for business persons:
Magento has given an adaptable shopping-cart system to online merchants through its open-source technology. It has enhanced the online shopping experience for the buyers with the inclusion of PayPal Express Checkout. Thus, E-Commerce stores do not need to separately include PayPal Express Checkout system, if their store is built on Magento 1 or Magento 2.
Boosted conversion rate
E-Commerce stores can improve their conversion rate by up to 44% if they embed PayPal Checkout Express in their checkout process. The One Touch mechanism has drastically improved the conversion rate of online shoppers by 87.5%. This conversion rate had exceeded the performance of PayPal competitors. The closest number was 36.4% lower than the average conversion rate of PayPal.
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More than 200 million individuals have PayPal account due to its convenience and security. E-Commerce stores can gain the favor of these active PayPal users with the inclusion of Express Checkout system. This simple step will let the online merchants draw up to 82% of PayPal buyers. The online businesses will also be able to gain the favor of 3.3% new buyers.
PayPal credit’s importance
PayPal Credit offers unique facilities to both the merchants and the shoppers. Customers can make immediate payments through PayPal Credit and payback the borrowed capital in easy installments to PayPal. This facility supports the growth of Average Order Value (AOV) and increases sales.
E-Commerce sites can help shoppers enjoy the facilities of PayPal extended payment terms. Entrepreneurs can also gain through its immediate payment system. The inclusion of Express Checkout in Magento platform has made the installation process easier.
- The entrepreneur needs to open a PayPal Business Account before selling products/services on their store.
- They need to access the Magento Admin Panel after logging into their Magento account.
- They will come across an option reading ‘Payment Methods’. They need to click this button.
- They can start the configuration process after selecting ‘Configure’ within ‘PayPal Express Checkout’ section.
- They need to complete the required procedures to install the necessary settings.
- PayPal Express Checkout button will be active upon completion of these processes. They will receive confirmation of this installation in their websites after the completion of the set-up.
Seven conversion boosting tips for businesses
E-Commerce merchants can increase the conversion rate with seven simple changes to their websites.
The landing page headlines may positively or negatively impact conversion rates for online businesses. The results of a recent headline test with google website optimizer had proven the merits of this statement. 37 signals ran this test on the sign-up pages for their software. This competition had found one heading/subheading combination to be more effective than others. The winning combination produced 30% better conversion-rate than the least favored combination.
Twitter’s call to action test
Twitter had conducted a test to choose most favorite ‘Call to Action’ (CTA) word. The words ‘Click Here’ were found to be least effective CTA. The word ‘Here’ was found to be most effective in generating clicks to Twitter. The ‘Call to Action’ word had outperformed the ‘anchored’ texts of ‘usability’ experts.
Proper placement of ‘free’
It is not enough to explain the benefit of the Free service. Entrepreneurs need to sell Free service properly to the customers. The online address-book ‘Social’ has found the proper explanation to play a vital role in the boosting of conversion rate.
They tested three options ‘Free Signup’, ‘Sign up for Free’ and ‘It’s Free’. The last option influenced maximum number of customers to sign up for free registration. The website has witnessed 28% increased registration. This result proves the need for sellable explanation.
Effectiveness of button’s color
The Performable and CareLogger changed the color of sign-up button to test customers’ reaction. They replaced the GREEN color button with RED color button. The RED colored ‘Sign-Up’ button boosted the rate of conversion by 21% for Performable and 34% for CareLogger. This result proves the effectiveness of color on changing conversion rate.
A change in the pattern of form necessary for field information can increase the rate of conversion. The forms using narrative format influenced more customers than the forms using standard format. The redesigned forms followed the pattern of ‘Mad Libs’ game. This simple change increased the rate of conversion by 25%-40%
The businesses may witness a substantial amount of cumulative gain through a series of small alterations. The opt-in email allows a person to choose the option of receiving email. The businesses can significantly increase the rate of email opt-in with little changes. A well-known organization offered free reports in lieu of e-mail opt-in. This simple effort significantly boosted the rate of conversion for the organization.
Single-Page checkout process
Many customers relinquish the idea of shopping after selecting one or more products. Some customers discard the idea of shopping after choosing the option of purchase. The market researchers identified the ‘multi-step’ checkout process to be responsible for this attitude. The single-page checkout process was found to be more effective. It has raised the conversion rate by 22% for an E-Commerce website.
Customers prefer PayPal Express Checkout services due to its simplistic features and secure method of payment. Millions of PayPal users like online e-commerce sites with PayPal Express Checkout system. This system offers extended payment options to the customers with One Touch checkout system. The simplicity of PayPal Express Checkout will undoubtedly increase the business’ conversion rate.