Transcript of the ThinkShop session “Taking a Shopper-Centric Approach With the Bolt Network Effect” with speakers
In part two of this ThinkShop Session, we’re going to cover why building trust with shoppers and giving them the flexibility to complete a transaction with their payment of choice is so important in today’s ecommerce environment.
Creating the Checkout Experience that Fits Your Brand Strategy
Let me start things off with a ‘heated’ question: How bad was your checkout before you joined Bolt? And what were some of the specific things that you knew you wanted for your checkout but that weren’t feasible to create yourself?
We’re a fairly small team compared to a lot of other ecommerce shops with similar volume and the level of customer service that we provide. We wanted the whole experience – from checking out to confirmation and the whole payment flow – to be as seamless as possible. It would not have been feasible or sustainable for us to put that money and effort into a checkout process. And that’s where Bolt comes in.
On top of that was the design. The platform kind of falls away with a good design and checkout experience, and with Bolt, we can design it the way we want it. Plus, Bolt offers us the fraud solution, which we didn’t have as we were growing. We couldn’t have done all of that ourselves and with Bolt, we were able to basically just to turn it on and everything worked on our end.
You said that you like the configurability; that the platform “kind of falls away” and it can look however you want. There are two different schools of thoughts around checkout: One of them is you want checkout to be so customized and so individualized to our brand to make sure the shoppers knows they’re checking out on Industry West. The other one is that you don’t want the consumer to notice the checkout, to get them through it as fast as possible and make as many purchases as possible. How are you thinking about it?
I think it can go both ways. We still have the Bolt colors and branding, and we initially talked about color scheming everything and making it look like Industry West. I think there’s a lot of value in knowing that people who already have a Bolt Account can recognize that Bolt is running on our site. If I can see that I can instantly check out because I have a Bolt Account, I’m much more likely to finish the checkout process because I know it’ll just be one click.
There was some good back and forth between keeping it within the brand, but at the end of the day it’s whatever is best for the customer. Our brand stands on its quality and the customer service that we provide, so for checkout it was really a no-brainer for us to leverage a lot of the Bolt trust that you already built.
Let me shift gears a bit. Bolt is payment agnostic, in that it is the checkout platform that sits in between your shopping cart, your order management and your payment provider. That means you can use whatever payment provider you want while having that Bolt checkout experience. Why might that be important to you or is it important to you?
I think it’s really important. Our job is to be fluid. We want to provide the best service that we can, and if our checkout helps that happen quicker and simpler, we’ll get more repeat customers. The idea of buying a sofa every week isn’t going to happen. But if you buy that one sofa with a spectacular checkout experience, our great customer service and the quality that we provide, then you’re much more likely to come back and fill out the rest of your room with us.
We don’t want to get in the way of that and force you to use a payment system or a specific type payment. We want to make that as simple as possible and “come as you are.” If you want Apple Pay, go through Amazon Pay or PayPal, that’s great. We want to process it, we want to be where you are, and we want to make it as simple as we can for you.
Would you say that the Bolt Network and Bolt Accounts help you achieve that?
I could see the Bolt platform becoming not a form of payment, but if you think of walking into a retail store and they have the credit card stickers of what they accept, it could become like, “Do you accept Bolt? Because I’ve got a Bolt Account where everything is set up.” Shoppers are much more likely to go in and trust that I’ve got everything set up on the financial side on my end. So, being payment agnostic is very, very important for us. We want to be where the customer is and be ahead of where they are, as much as we can so that the shopping and specifically the checkout experience is smooth.
Want to learn more? Watch the full webinar.
Steven Scarborough, Ecommerce Director, Industry West & FAVOR
Steven runs eCommerce production and strategy for B2B and B2C clients at Industry West and FAVOR. He brings 15 years of experience in product design, user experience, and strategy from startup, academic, and enterprise organizations.
Bob Buch, Chief Business Officer, Bolt
Bob oversees BD, partnerships, and corporate strategy at Bolt. He brings over 15 years of experience, including revenue, product marketing, and business development at both startups and large organizations. He’s described as one of the most creative thinkers (across all departments) and one of the best deal makers in Silicon Valley.