10 Ways to Increase Ecommerce Revenue with BigCommerce + Bolt

January 18, 2022

Chi-Chi Zhang

Did you know that three out of four shopping carts are abandoned? Just attracting customers to your store is not enough. In fact, a majority of shoppers are leaving your store without making a purchase. So, what is stopping them from checking out? For most customers, the issue is friction. The checkout process is simply too complicated and any small barrier to completing a purchase can lead to abandoned carts. So, how can you optimize the final step in your customer’s journey for conversion? 

Fortunately, solving the uphill battle to convert new customers can be unlocked by leveraging the power of BigCommerce + Bolt.  Read on for 10 ways to increase Ecommerce revenue, from offering alternative payment methods, to enabling fraud detention and offering promo codes.

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1. Offer Alternative Payment Methods (APMs)

Alternate payment options like Affirm, Afterpay, Klarna, and PayPal give shoppers more options, leading to a faster checkout. APMs also include services that make buy now, pay later (BNPL) an option. Such solutions address the problem of people abandoning checkout due to extra costs like shipping, tax, and fees that are higher than expected. With BigCommerce, you can choose from over 60 payment methods out-of-the-box, so you can offer the option your customers love most.

2. Join a shopper network

For a more frictionless experience, shopper networks give consumers the power to create an account once, then use it for purchases across the entire network. If you’re part of a shopper network, you’ll gain access to millions of customers who can check out on your site easily, even if they’ve never been there before. Bolt will pre-populate any returning customers’ personal information for a speedier checkout. With all their payment and billing information saved in one place, shoppers can buy with ease.

3. Implement one-click checkout capabilities

The traditional checkout process involves multiple tedious steps: input shipping information, shipping preferences, billing information, add coupon codes, and confirmation. The more steps you add to the customer journey, the more likely shoppers are to abandon the checkout. By simply turning on Bolt One Click Checkout in just minutes, BigCommerce business owners can increase conversion by up to 50%. 

Lowering checkout friction increases sales, but also saves your customers time. 82% of shoppers say they prefer one-click checkout. Instead of having to remember what their username and password is for your online store, all they’d have to do is enter their email, receive a confirmation via text and then they can check out with a single click.

4. Ensure a fast checkout process

For every step in the shopping process, customers value speed. If their journey is slowed due to loading time, shoppers are more likely to abandon their checkout.  Nearly 70% of shoppers said that page speed impacts their willingness to buy from an online retailer. And every second matters. In fact, increasing website speed by one-tenth of a second can lead to a 8.4% increase in conversion rates for retail sites. 

One way to speed up your checkout is by turning on Bolt. Using Bolt with your BigCommerce site leads to a 52% faster checkout than on average. With one-click checkout, your customers can focus on waiting around and more on buying.

5. Capture customer information to improve future conversions

Drive brand loyalty and repeat business by encouraging customers to provide information you can use for later promotions. You can then use the Customer Groups features within BigCommerce to segment your customers to create personalized experiences, promotions, and loyalty offers. 

Bolt’s data shows that customers that already have an account convert at a 50% higher rate than those that use the guest option, and those that return spend up to 3X more.

6. Offer promo codes

Most consumers expect to get a discount when shopping online. A 2020 Valassis study found that 72% of consumers want to use coupons and discounts to save money, and 54% credit a promotion with helping spur an impulse buy. Offering the right promotion at the right moment can help build brand loyalty and bring shoppers back. BigCommerce offers over 70+ coupons and promotions that you can schedule, target, and customize right out-of-the-box.

7. Use trust symbols to reassure customers

One challenge small businesses have is building trust with new customers. When shoppers initially visit a business, their first impression is everything. Stores can use trust symbols that convince buyers not to worry. These can take a few different forms:

  • Testimonials. Case studies and testimonials that provide proof of the product’s quality and effectiveness. TrustPilot found that 66% of customers are more likely to buy a product if they see social proof.
  • Reviews and ratings. Shopper reviews on notable platforms, objective media coverage or reviews from existing well-known customers can help strengthen your credibility. 
  • Verified badges. These symbols are big companies that shoppers already trust. 76% of customers are more likely to make purchases on an Ecommerce site that has a safe checkout badge. 

8. Prioritize mobile ease of use

Mobile devices account for 72% of all Ecommerce sales worldwide. Thus, prioritizing your mobile experience is key to ensuring conversion. BigCommerce’s mobile-optimized themes and seamless checkout experiences create a frictionless shopping experience across all devices. Bolt data found that a well-designed product flow on BigCommerce websites can increase mobile completion rates double that of the industry average. 

9. Enable fraud detection

Fraud can cripple small and large businesses alike. Even taking the smallest hit due to fraudulent orders can make a big difference in your bottom line. LexisNexis reports that $1 of fraud can cost retailers an average of $3.60. That adds up. While setting up effective fraud prevention won’t improve conversions itself, it will ensure that more of the orders you get are the good kind. Bolt One Click Checkout prioritizes fraud protection so you get to actually keep more of your profits, ensuring greater revenue overall. 

10. Pay attention to your analytics

You can maximize conversion by closely analyzing how shoppers interact with your BigCommerce website and store. Studying analytics allows you to understand your customers’ checkout journey. Dig into where shoppers are ending their journey without a purchase. From there, you can make adjustments accordingly. For example, if there’s a high drop-off rate between adding to cart and finishing the conversion, improving the checkout process could be the key to unlocking more purchases.

A common question you can answer with analytics is: What forms of payment are most popular on my site? Maybe you’re finding that your customers convert at a faster rate when you offer APMs. You may want to consider adding more ways for shoppers to pay.

Bolt: The complete checkout built for BigCommerce

By using Bolt with your BigCommerce site, you can turn on One Click Checkout and immediately make the checkout process easier, increasing conversions by as much as 53% from day one. Bolt’s network includes trusted merchants offering the perfect checkout experience  to tens of millions shoppers and growing.

Fortunately, solving the uphill battle to convert new customers can be unlocked by leveraging the power of BigCommerce + Bolt.  Read on for 10 ways to increase Ecommerce revenue, from offering alternative payment methods, to enabling fraud detention and offering promo codes.

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ThinkShop by Bolt does not constitute professional tax or financial advice. Contact your own tax or financial professional to discuss your situation.