Stripe's "The State of Checkouts 2022" - it's good - for us!
We've just been reading through the latest "State of European Checkouts" report released by Stripe, and we dare say it has us feeling good going into the New Year.
The survey results, metrics and analysis in the report show that a slew of LIVE IT features increase the likelihood of conversions and encourage customers to spend more. Read on to find out more...
Wallet & Two-Click Payments
Speed and convenience are essential to having a high-performing checkout with healthy conversion rates. This is particularly true as more and more purchases are made on mobile. It comes as no surprise Stripe found that more than three-quarters of customers (78%) are more likely to complete a purchase if a website offers one-click checkout options, such as Apple Pay or Google Pay.
Our New Booking App is perfectly optimised for mobile users - all parts of the booking process dynamically resize and reposition themselves to fit the screen size of the user. Everything loads quickly and forms support auto-fill.
Most importantly, we support Apple Pay & Google Pay, allowing customers to complete the payment stage of checking out with just two clicks.
Pay in Instalments
68% of European customers said they would be more likely to complete a purchase if they had the option to pay in instalments.
LIVE IT Payment Plans are fully customisable - you're able to specify what the initial deposit should be, how many instalments follow, and when they are scheduled for. By using automatic payments we see a 98% completion rate, and depending on your policies, you can retain the funds from cancelled payment plans as well.
88% of European e-commerce checkouts didn’t recommend higher-end versions of a product or service through upselling. This is leaving an open goal for increasing revenue.
Thanks to our new upselling system, it's never been easier to sell add-ons, merchandise, or suggest charitable donations alongside ticket sales.
83% of retailers aren't following up with customers who have abandoned their bookings. With LIVE IT you can access abandoned booking info from customers who made it as far as entering their details and consenting to contact before backing out.
Simply log in to your organiser profile and go to Reports, and then to mailing lists, and you'll find abandoned booking info for each of your events.
Responsiveness and loading times - Our new booking app features responsive design and dynamic page loading to ensure as speedy a booking process as possible. Customers easily and consistently book tickets through LIVEIT within the 2 minutes window that most customers desire before giving up.
Language and Currency options - customers value being able to view the entire booking process in their own language (system wide, not just your provided information), and saving money on conversion fees. LIVE IT supports 11 languages (which can be set up simultaneously) and over 130 different currencies - with more on the way.
Security & Verification - customers Stripe surveyed said the top reason they would perceive a business negatively is if its website didn’t feel secure or trustworthy. We display Amex/VISA/Mastercard logos which provide assurance to your customers, and highlight payment errors such as invalid card numbers in real time to greatly reduce transactional errors.
With very special thanks to Stripe for putting the report together. Read it yourself here: https://stripe.com/se/newsroom/news/state-of-checkouts-2022