Decrease Friction & Increase Conversions by Offering BNPL
When it comes to making a purchase, everyone wants the best deal possible. That’s why more and more shoppers are opting to split their payments into installments, also known as BNPL (buy now pay later). This allows them to get the products or services they want now, while still having plenty of time to pay for it. There is no longer a need to wait for payday for shoppers to proceed to checkout.
In this blog post, we will discuss how splitting payments with Gratify works for shoppers, for your business, and some of the undeniable benefits of offering this option.
How Installment Options Benefit Businesses
The advantages to your business start almost immediately after integration with Gratify, thanks to the simplicity which your customers will experience. These are a few of the ways your business will thrive when offering installment plans to your customers:
- Customers will purchase sooner. When shoppers are looking to buy something but don’t have the money to pay for it all at once, they can use Gratify’s installment plans. This allows them to break up the cost of their purchase into smaller, more manageable payments. This makes it easier for them to afford the things they want and need, without having to put off buying them until later, drastically reducing the number of abandoned carts your business will experience.
- Larger cart sizes. When it comes to shopping, we all know that size matters. But what happens when the size of your customer’s cart doesn’t match up with the size of their wallet? For too long, shoppers have been forced to choose between maxing out their credit cards or leaving their dream purchases on the shelves. But now, thanks to 0% interest installment plans, smaller payments can mean smarter purchasing. This option gives shoppers a new level of flexibility, allowing them to stay within their budgets without making any sacrifices.
This means that they can buy items immediately, without having to wait. This flexibility for customers will lead to larger cart sizes and average order values (AOV) for your business.
- Increased repeat customers. As any business owner knows, repeat customers are essential for long-term success. That’s why it’s so important to offer payment plans that make it easy for customers to keep coming back for more. A bi-weekly payment plan is a great option for companies that want to encourage repeat business. By making small, affordable payments every two weeks, customers pay off their purchases quickly without breaking the bank all at once. This means they’ll be ready to come back and make their next purchase with your company even sooner.
- Positive rapport with your customers. At Gratify, we believe that trust is the foundation of any good relationship. That’s why we’re committed to being transparent in all of our dealings with customers. Our straightforward payment schedules mean that customers always know what they will pay, with no surprises or hidden fees. This builds trust and confidence that can extend to your business as a whole. We believe that this kind of transparency is the best way to build strong, lasting relationships with customers, leading them to come back for more.
How Does Gratify Work for Customers?
Setting up a payment plan with Gratify is incredibly easy for customers. All they need to do is select Gratify at checkout and accept the simply laid out payment schedule. From there, our system will automatically calculate the total cost of the purchase, as well as the corresponding installment payments, and set the customer up for automated payments every 2 weeks. This makes it easy for shoppers to know exactly what they’re paying for, and when. Your business will instantly get the funds from the purchase, and we’ll take care of the rest.
It’s important to remember that customers are not just looking for the best price when they’re making a purchase. They’re also looking for convenience, simplicity, and a hassle-free experience. By offering BNPL options, you can give them all of that and more.
So Long, Abandoned Carts
Offering installment plans through Gratify is an easy way to make your business more convenient and appealing to customers. This can lead to less friction, increased conversions, larger cart sizes, and AOVs. In addition, our system takes care of all the payments for you, so you don’t have to worry about anything. If you’re looking for a simple way to increase sales, then consider integrating Gratify’s BNPL options into your checkout process!
Click here to learn how Gratify can help grow your business today.