Checkout optimization in B2B: Boost conversions and revenue

Checkout optimization can be an especially useful focus area for companies looking to improve their web store. In fact, recent data from the Baymard Institute suggests the average cart abandonment rate across industries sits just under 70%.

The good news is that there are numerous ways you can ensure you’re working on reducing that number for your web store. This comprehensive guide covers 15 invaluable tips for checkout optimization that can help boost conversions and revenue.

What is checkout optimization?

Checkout optimization refers to the process of improving and refining the final steps a customer takes when making a purchase on an e-commerce website.

The goal of checkout optimization is to create a seamless, efficient, and user-friendly experience for customers during the checkout process. This, in turn, aims to increase the conversion rate, reduce cart abandonment, and ultimately boost revenue for an online business.

For B2B organizations, the problem of checkout optimization can look different. Most B2B buyers have high intent to complete a purchase, which means cart abandonment can often be a result of poor customer experience or an inaccurate website.

So how do you ensure you move a customer through the checkout process successfully?

15 tips for checkout optimization on your web store

Tip 1: Streamline the checkout process

The journey towards optimizing your checkout process begins with streamlining. A lengthy, convoluted checkout process is a conversion killer. Research shows that simplicity reigns supreme when it comes to the checkout page.

Reduce unnecessary steps and forms, allowing customers to complete their purchase with ease. Customer accounts can help with these – for B2B web stores, streamlining checkout can also look like having pre-saved orders that customers can add and purchase with a few clicks.

By removing friction from the process, you’re more likely to keep potential customers on the path to conversion.

Tip 2: Guest checkout option

The flexibility to provide a guest checkout option will vary from business to business, but it can help you with seeing an improvement in conversion. Not all shoppers are keen on creating user accounts.

This feature allows customers to make purchases without the hassle of account creation, significantly reducing barriers to completing a purchase.

Tip 3: Progress indicators

Imagine walking through a maze without any signs or indicators; it would be a disorienting and frustrating experience. The same principle applies to the checkout process.

Implement progress bars or indicators to guide customers through the steps involved. This not only reduces anxiety, but also provides a clear sense of how far along they are in the checkout process.

Tip 4: Mobile optimization

According to research by McKinsey and Co, B2B buyers today will regularly use ten or more channels to interact with suppliers. In an era where mobile devices dominate online traffic, it’s paramount that your checkout optimization process considers the omnichannel experience.

A clunky, non-responsive mobile experience can lead to abandoned carts and missed opportunities. Ensure that your checkout page functions seamlessly on various mobile devices, providing a hassle-free experience for your on-the-go customers.

Tip 5: Trust signals

Trust is the foundation of any successful e-commerce transaction. Incorporate trust signals throughout the checkout process. Display security badges, highlight customer reviews, and offer guarantees to build trust and credibility with your customers.

Your e-commerce platform also plays into this. Ensure you’re opting for a web store platform that prioritizes customer security. When shoppers feel secure, they are more likely to follow through with their purchase.

Tip 6: Clear CTAs

Effective calls to action (CTAs) are essential for guiding customers through a purchase and checkout optimization. Each step should feature a clear and compelling CTA, making it obvious what action customers need to take next.

Whether it’s “Proceed to Payment” or “Place Your Order,” experiment with concise, motivating language to find what is most effective for your customers.

Tip 7: Multiple payment options

Diversity is key when it comes to payment options. Offer a variety of payment methods to cater to different customer preferences. Beyond traditional credit card payments, consider integrating digital wallets, buy now, pay later options, and other emerging payment solutions.

By accommodating a broad range of choices, you increase the likelihood of capturing every potential sale.

Tip 8: Shipping costs transparency

One of the primary reasons for cart abandonment is unexpected shipping costs. One study suggests as much as 28% of shoppers will abandon their shopping cart when presented with unexpected shipping costs.

To mitigate this issue, be transparent about shipping costs and delivery times from the outset. Consider offering a shipping cost calculator or a shipping cost estimator, allowing customers to understand the full cost of their purchase upfront. Transparency builds trust and minimizes last-minute surprises.

Tip 9: Abandoned cart recovery

Cart abandonment is a common occurrence in e-commerce and is the key hurdle checkout optimization aims to eliminate. Implementing an abandoned cart recovery system is a useful strategy to remind your customers of a purchase and incentivize completing it.

This system automatically sends reminder emails to customers who have left items in their cart. To encourage customers even further, include incentives such as discounts or limited-time offers to encourage customers to complete their purchase.

Tip 10: Save cart feature

For B2B customers, the decision-making process may involve multiple stakeholders or require time for consideration. Offering a “Save Cart” feature can be especially beneficial in these scenarios.

This feature allows customers to save their cart for later, eliminating the need to start from scratch when they return to complete their purchase.

Tip 11: Autofill fields

User convenience plays a significant role in the checkout process. One way to enhance this convenience is by implementing autofill fields. By auto-populating fields with information customers have previously entered, you reduce friction and expedite the checkout process. This small but impactful improvement can make a big difference in user experience.

Tip 12: Error handling

Mistakes happen, even during online shopping. It’s essential to provide clear error messages when customers encounter issues during checkout. User-friendly error handling helps customers identify and rectify errors promptly, preventing frustration and abandonment.

Tip 13: Social proof

Social proof is a powerful psychological tool that can boost conversions. Some web stores do this by adding real-time notifications of recent purchases to the checkout page. This creates a sense of urgency and trust, as customers see that others are actively making purchases from your store.

These notifications can be especially effective when paired with limited time offers or promotions.

Tip 14: Abandonment surveys

Collecting feedback from customers who abandon their carts can be a treasure trove of insights. Implement abandonment surveys that ask customers about the reasons behind their decision to leave without completing a purchase. Understanding these reasons can help you make necessary improvements to your checkout process, addressing pain points and increasing conversions.

Tip 15: Test and iterate

The world of e-commerce is constantly evolving, and customer preferences can change. Keeping abreast of buyer preferences and staying open to what’s trending can go a long way in optimizing your web store. To stay ahead, it’s crucial to continuously test and iterate on different elements of your checkout process. Implement A/B testing to identify what works best for your specific audience. Make data-driven improvements based on customer feedback and emerging industry trends.

Final thoughts

Checkout optimization is a continuous journey, and these 15 tips provide a solid foundation for enhancing the user experience, reducing cart abandonment rates, and ultimately boosting your conversions and revenue.

Remember that optimizing the checkout process is not a one-time effort. Stay attuned to customer feedback and industry trends to keep your e-commerce business at the forefront of checkout excellence. By implementing these tips and maintaining a commitment to improvement, you’ll watch your conversions soar and your e-commerce business thrive in the competitive online marketplace.