BNPL users Promoting your partnership with a BNPL provider is perhaps the easiest way to attract some new customers. In fact, 57% of option from the product page of an item they purchas online, according to a PYMNTS research report. Just having the option to pay over time can move some shoppers to buy, and this can result in incremental customer acquisition gains.
Consideration 4: BNPL users
Boosting Customer Retention and Long-Term Value
As more shoppers get us to the convenience of pay-over-time and the flexibility it offers in managing personal cash flow, this form of payment will become even more common. In fact, a March 2021 study by the Motley Fool found 36% of BNPL shoppers use it once a month or more. So just offering BNPL to your customers could bring repeat business from people who love to shop this way.
Many shoppers are inclin to use BNPL again after they experience how easy it is and how it can give them more control over their cash flow. What’s more, most BNPL providers track an average repeat purchase rate from their customers and promote it on their websites. These are good indicators of driving customer retention and long-term value for merchant partners.
Of course a critical factor in sustaining any growth in repeat business is making sure the BNPL provider treats your customers well.
Consideration 5: Delivering the Best Customer Experience
Shoppers value trust as a key component of their BNPL experience. The Motley Fool study found that 30% of BNPL users trust BNPL providers more than crit card companies when it comes to fair business practices. Hidden or late fees, deferr interest, and pages of fine print are just some of the practices that bre distrust with crit card companies.
Building trust demands transparency. Check to see what shoppers experience with a particular BNPL provider: Are too many steps bhutan email list 41051 contact leads that could add friction at checkout? How easy is it to understand the payment schule and terms? Make sure there are no gotchas in the BNPL shopping experience.
Finally, consider how
a partnership with a particular BNPL provider can reflect on your business. If a shopper has a bad experience with a BNPL provider you’re working with, it may tarnish their opinion of your brand. That’s why it’s important to install and activate the hubspot for wordpress plugin research a provider’s policies on hidden fees, interest payments, and late fees. Also agb directory look into the provider’s NPS score, which can be a good indicator of trust and loyalty among its customers. The fewer surprises, the better.
A Final Word: Not All BNPL Options Are Treat Equal
