Cart abandonment has become a common problem for SaaS businesses. Just like eCommerce, many people leave your checkout or payment page without making a purchase. Customers abandon carts for a wide range of reasons, and one of them is a complex SaaS payments form.
In this post, we will explore how you can optimize your payment page to reduce abandonment and boost conversions.
Cut Down on the Number of Fields
Do you know the average payment form has twice as many fields as it needs?
Customers get confused with too many fields on checkout pages. 87% of people abandon carts due to prolonged or complicated checkout process, according to Smart Insights. Additionally, multiple columns also make matters complex for users.
As a result, you need to have only essential fields on your payment page. Do not ask for more information than you need to facilitate the payment. Also, use only a single column and arrange your fields from easiest to most difficult.
Pro tip: Indicate which fields are mandatory with a red star if you decide to ask for more information from your customers. This will help users skip fields and make checkout simpler.
We process visuals quicker and better than text. As a result, a user will click on images rather than using a drop-down menu if they have the choice. Therefore, your SaaS payments form will be much more engaging with a few images or progress bars (in case of long checkouts).
The best way is to use clickable images that show your plans and rates. Customers can directly click on the images and proceed to pay without reading long sentences. You can get instant results by using this technique to optimize your forms.
Go For Autocomplete
We feel profusely blessed when Google fills in the rest of our search terms. Online stores use the same tactic to increase sales by implementing search autocomplete. According to Mike Roberts, CEO of a popular analytics company, search autocomplete can boost sales by 24%.
As a result, providing autocomplete on your checkout page can improve user experience and conversions. You will be able to save the effort of your customers and make them happily pay your subscriptions.
Add Multiple Payment Methods
Having only credit cards as your payment option is a sure way to put off potential customers. It is not even a global payment system, and many people still don’t use one. So, you will need to add as many payment options as you can on your SaaS payments form to facilitate payments.
- Add local payment methods for the convenience of local customers.
- Provide mobile payment methods as many people pay using mobiles today.
- Include online payment methods like PayPal and wire transfer.
- You can even add the newest payment options like cryptocurrency.
Pro tip: Do not add payment services that your audience is not likely to use. It will make your checkout complicated and confuse users.
Show Your Security
Security is a top concern for anyone paying online. The same applies to your customers that make your SaaS payments. However, it is not enough to work on your security; you have to show it off too!
Customers look for signs of assurance when they are ready to pay. Images and words like “Norton Secured,” “Google Trusted Store,” or “BBB Accredited Business” can make payers feel safe instantly.
Therefore, you need to show trust seals on your subscription payment page to build trust with your customers. People are more likely to part with their money when they see you have top security.
Provide Clear Pricing
24% of shoppers abandon cart because they couldn’t see or calculate the final price upfront, according to Smart Insights.
Shoppers don’t like unpleasant surprises. You will lose customers if you quote one price on your plan page and ask for more during checkout. Additionally, it is not a good idea to hide taxes or fees the user needs to pay.
The pricing on your plan and SaaS payments form need to be consistent. Additionally, show all taxes or charges the user has to pay before they click the “Pay Now” button. Transparency is a virtue and helps you build trust and boost your conversions.
Test Your SaaS Payments Form
Test your forms for conversions to find out the ones that work best with your audience. Of course, you should first research your audience to understand the type of payment forms they prefer.
The insights will help you create a SaaS form that makes your customers happily part with their cash.
SaaS businesses should treat their payment forms as the product page of an online store. You need to convince your payers, make checkout simple, impart trust, and help customers pay seamlessly. Only then will you be able to prevent abandonment and increase your conversions.