Benefits of A One Page Checkout
When it comes to sales, we always want more (especially for eCommerce sites)! If your website is not currently using a one page checkout process for your customers then you are failing to capture many transactions.
Consider this: the checkout process for your website = a grocery store checkout line. Now, what do shoppers do when looking to checkout…find the shortest line!
Apply this concept to your checkout process and you can start to realize the significance in optimizing the process for your customers. If you have an extensive checkout process that requires customers to complete information on a number of pages, then customers are likely to abandon their carts and look for shorter lines.
Although a bit dated, Get Elastic performed a great test on one page checkouts. After directing 50% of customers to the one page checkout and the other 50% to the traditional checkout process, Get Elastic discovered an increase in sales by 21.8% for users checking out with a one page checkout!
Let’s take a look at one page checkout features and how they can help increase your online sales:
As discussed earlier, speed is crucial to the checkout process. Grocery stores are known to monitor a cashier’s product scanning rate in order to improve the flow of customers checking out. By using a one page checkout, you reduce the number of steps needed for customers to complete their transaction.
Having a one page process narrows the entire process down to one page instead of multiple. When you have multiple pages or steps for customers to complete, you are increasing the likelihood of them getting frustrated and abandoning their carts.
The standard Magento checkout process has six steps the user must complete in order to complete the transaction! On top of so many steps, users can’t view all of their information at once and have to manually click to proceed to the next step.
In IWD’s one page checkout, all entry fields are nicely displayed on one page where the user can see all of their entered information and how many steps are needed to complete the transaction.
Looking at the one step checkout vs. the default Magento checkout process, you can visually see that users are able to quickly and easily navigate the process. I timed the amount of time it took myself to fill in the required fields for both carts (including time to pull out my credit card); here are the results in minutes:
Default Magento Checkout = 1:40
One Page Checkout = 0:53
The one page checkout nearly shaved an entire minute off of the checkout process!
If you are seriously looking at ways to optimize your website to gain more sales, then consider utilizing a one step checkout. If you are unsure if you are losing money from users abandoning their shopping cart, follow these simple steps to monitoring this in Google Analytics:
- Sign-in to your account and go to the Admin section
- Select Goals under View (Profile)
- Click the Create A Goal button
- For tracking shopping cart abandonment, select Destination URL
- Enable the Funnel Option and specify the steps a user takes to purchase an item
- Step 1 = views the cart (/shoppingcart)
- Step 2 = proceeds to checkout (/onepagecheckout)
- Save your goal
You can view this report under Conversions -> Goals -> Funnel Visualization
Credit : www.iwdagency.com