According to an ecommerce business survey, 67.75% ($31 billion dollars) of all online shopping carts goes desolated annually. If the online merchants pay close attention why the potential buyers abandoned the cart then they can reduce the overall shopping cart abandonment. Sometimes, for a tiny simple reason, your visitor doesn’t buy from your web-store.
If these many reasons are carefully analyzed and worked upon, then the company can certainly grow its percentage of sales. What is the most effective way for a company to communicate with the consumers? What best facilities can your eCommerce business give to the customers for easy? Can simply calling them or sending emails is good enough to attract the customers? How does Part Payment facility help your e-commerce business grow? Let us know the answers of above questions in detail.
Partial Payment Extension for Magento is one of the most lucrative extensions for any e-commerce store since it provides the facilities to the customer to make partial payments or pay the amount in installments. The ability to make payment as per the availability of funds or in installments can result in increased sales. With partial payment extension, you can unleash great potential by tapping the customer base that is looking for easy payment options. The following incredible features of the extension helps in increasing customer’s attention towards your business and reduce abandoned carts of high cost.
- Installment payments for entire cart amount or for particular products.
- Create plans using catalog rules
- Partial Payment extension is easy-to-install
- Reschedule specific installment by managing fees, plans and other charges
- Partial, Part and Pre payment installment for whole cart
- Payment of installment from back-end
- Create an order for a customer from back-end.
- Minimizes the risk of being scammed
- Configure various payment plans for a product or a group of product
- Provide option on various instances
- Set installment reminders
- Access to group of users and specific users
- Easily configured to provide various payment options based on your requirements or customer demand
- Supported Payment Methods (some with extensions): Stripe Payment Gateway, Saved CC, Check/Money Order, COD, PayPal standard, CyberSource Payment Gateway, Authorize.net
It is obvious that now your customers will have the choice to pay that is the flexible payment option increases the purchasing capacity of a customer which can result in increased sales. The customers can also prepay the entire remainder of the installments, make additional payments to pay the remainder amount faster and save on the interest payable on the remaining installments. Many times, if the company loses a chance at the early stages of the sales cycle, it can definitely pass it back to marketing for further nurturing, analyze what lead what lead nurturing was done before the lead came to Sales.
It is important to know how partial payment extension solves many troubles of the eCommerce business to get new customers on the board and lure the present already potential buyers. It surely depends upon the products and its worth, what type of effort should the company give to the abandoned sell and make them go back to the website again and shop what they left. It should be pre-decided and the ultimate aim of all the salespersons should be to retain the customers. This is how the Partial Payment option helps your e-commerce business grow drastically.