5 Reasons Why Multi-Lender Point Of Sale Financing Benefits WooCommerce Retailers

Jul 11, 2021

There are an array of strategies available to WooCommerce retailers to encourage new customer acquisition and promote return customers, and business owners should stay clued up on the latest tools and resources capable of supplementing these strategies. For many WooCommerce retailers, point of sale financing is proving extremely beneficial and this is particularly evident with the integration of multi-lender platforms like those offered by ChargeAfter. This streamlined, interest-free, and powerful consumer financing solution is the go-to WooCommerce plugin for its ability to improve sales volumes, increase sales rates, broaden one’s consumer base, and more discussed in the following helpful article. 

Here are the 5 reasons your online store should implement multi-lender point of sale financing for your customers. 

1. Higher Sales Volumes

Several factors influence a customer’s decision to purchase their online carts and the rates at which carts are abandoned increase as order values go up. Consumers are often unable to purchase large ticket items as they simply don’t have the funds necessary to do so. The more customers are unable to make large orders, the lower your average sales volumes appear come the end of the month. WooCommerce retailers can eliminate the risks associated with low sales volumes by supplementing the checkout process with ChargeAfter’s multi-lender point of sale financing solution. This platform gives consumers access to capital with no interest, encouraging them to make larger purchases and, thus, raising your monthly sales volumes. 

2. Increase Sales Rates

The rates at which your WooCommerce store experiences sales can also improve through the integration of a multi-lender point of sale financing platform. This is because of the streamlined and efficient process integrated with your existing checkout process through the implementation of ChargeAfter’s platform. Customers have quick access to financing without having to even leave your website, meaning more customers are pushed through the sales funnel during checkout. The quicker time to purchase has a significant impact on your sales rates, promoting sustainable business growth for your WooCommerce store. 

3. Improve Customer Retention

Providing consumers with unique selling points is critical in the modern WooCommerce retail landscape. And, it is important that you pay particular attention to areas where you could build customer loyalty to improve customer retention. Customers are more likely to shop multiple times with retailers that offer new solutions to old problems, and in the case of point of sale financing, ChargeAfter’s multi-lender platform ensures that your shoppers receive the best bang for their buck financing solutions. You also free up time to focus on customer service strategies as your checkout process is covered by ChargeAfter’s team of support experts.

4. Stronger Brand Image

By encouraging return customers, you also gradually develop a loyal fanbase that supports your brand. As a result, WooCommerce stores that integrate ChargeAfter’s multi-lender point of sale financing platform are likely to receive more positive customer reviews and testimonials. These serve as testaments to the brand image and give the WooCommerce store an advantage over the competition by showcasing brand authority. 

5. Appeals to More Consumers

Last but not least, ChargeAfter’s multi-lender point of sale financing platform allows WooCommerce retailers to branch out and attract consumers who may have been previously unable to shop from their store. Whether your brand is selling high-end clothing or large ticket items like mattresses, consumers without access to financing are able to easily shop from your store with the support of multi-lender financing. This will broaden one’s consumer base as more people are inclined to purchase from retailers offering zero-interest payment plans with ChargeAfter.

From promoting a stronger brand image to attracting a wider range of consumers, multi-lender point of sale financing platforms like the powerful solution from ChargeAfter are able to benefit WooCommerce retailers in several significant ways.

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About the author
Chris Lloyd
“ChargeAfter is amongst our top rung of partnerships, and they enable us to deliver consistent. The conversion uplifts ChargeAfter creates helps drive strong value for DXL Group and our customers.”