Author: chargeafterdev

The success of one’s online electronics store is all about sales, and owners need to consider elevating sales strategies through the integration of new technologies. There are various revenue-maximizing methods at each level of the consumer journey, although there’s no touchpoint as powerful as checkout. It is during this checkout process that online retail stores make or break sales, so it is critical that your eCommerce store implements the best tools to optimize a customer’s checkout experience. One such method proving invaluable among Shopify, Magento, and WooCommerce platforms alike is consumer electronics financing through ChargeAfter’s buy now pay later platform. 

Here, we take a look at the functionality of ChargeAfter’s buy now pay later platform, how it separates itself from other consumer electronics financing solutions, and what its integration can do for your online electronics stores sales.

How Does the ChargeAfter Buy Now Pay Later Platform Work?

ChargeAfter’s buy now pay later platform is an easy to integrate checkout plugin that gives customers access to consumer electronics financing on the fly. The platform works by filtering consumers through a seamless application process connecting them with willing prime or subprime lenders. The process happens entirely on the front-end for the customer, meaning that they do not have to leave your online electronics store or seek the assistance of their financial service provider in order to secure consumer financing for the payment. Furthermore, the repayment plans offered by ChargeAfter’s extensive network of lenders are tailored to each customer and give them zero interest solutions that cannot be beaten elsewhere. 

What Separates ChargeAfter eCommerce Integration from the Competition?

Online electronics stores that integrate ChargeAfter’s buy now pay later platform receive consistent support and data-driven analytics from a team of consumer financing and sales experts, as well as benefit from providing their consumers with the most powerful consumer electronics financing platforms on the market. The dual benefits for retailers and consumers work hand in hand to set online stores with ChargeAfter apart from the rest. These benefits are largely linked to the spikes in sales experienced by said retailers, and we will take a closer look at what this integration can do for your sales.

What Can Consumer Electronics Financing Do for Online Sales?

Consumer electronics financing from ChargeAfter is a go-to sales promotion strategy that helps businesses on WooCommerce, Magento, Shopify, and other retail platforms leverage an array of benefits to drive up their key performance indicators and success metrics. The following benefits spark sales for consumer electronics companies partnering with ChargeAfter:

Increased Monthly Orders

The ability to provide every consumer that visits your online electronics store accessible and zero-interest financing solutions means that every potential customer is capable of making a purchase big or small. The increased likelihood that customers can shop with personalized financing solutions will raise your average monthly orders as well as your average monthly order values as more large ticket purchases are made. 

Faster Time to Conversion

The easy-to-integrate plugin provides consumers with an easy-to-use financing solution that minimizes the time it takes for them to purchase the electronic goods in their cart. The quicker time to purchase encourages more sales, and the benefit of having the entire process on the front-end of your site means that consumers are more engaged with your brand during the checkout process. 

Supporting Customer Retention Strategies

Customer retention is as important as acquiring new customers and a successful sales strategy relies on increasing the average customer lifetime spend on your site. There are a variety of ways to drive customer retention, and they primarily involve personalizing your customers’ experiences and supporting them at every level of their consumer journey. This means giving them the tools to make purchases securely and quickly while freeing up time to focus on support strategies and client services through the integration of ChargeAfter’s buy now pay later platform.

Consumer electronics financing through ChargeAfter’s buy now pay later platform is one of the most effective sales supporting strategies used by the leading electronics stores on WooCommerce, Shopify, Magento, and other online store platforms.

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It’s no secret that the Point Of Sale financing, or Buy Now Pay Later (BNPL) space is becoming more popular and relevant for the shoppers of today. It is a financing option customers have come to expect from retailers when checking out. Paying for your purchase in smaller more affordable monthly payments, who would turn that offer down?! 

This type of consumer financing has opened a new door of opportunity for retailers and leveled the playing field for consumers who don’t have access to credit cards or prefer not to have one at all. It feeds into the instant gratification consumers are looking for because let’s face it, waiting till payday to get those new designer heels is an anti-climatic experience no customer wants to face. 

Sure, there are some stores that won’t reap many benefits from BNPL options, like small convenience stores, simply due to the fact that bread or milk is not an impulse purchase. However, there are many industries that do benefit from offering their customers BNPL financing options. 

If you are thinking about implementing consumer finance for your shoppers, here are just a few of the industries that are reaping the rewards of the BNPL boom.

Sustainable Products And Fashion 

Sustainable items are high in demand and rightfully so. The world is taking conscious measures to lower its carbon footprint and make more sustainable decisions when it comes to its purchases. Unfortunately, these goods don’t come cheap and it is not viable for retailers to mark down their price points considering how much more time and labor goes into sourcing and manufacturing these goods. Point of Sale financing helps you keep the price fair for both parties and also makes it more accessible for customers especially with trending products like clothing, fitness accessories, and beauty. 

Travel

While travel has taken a hit due to the current pandemic, a lot of shoppers living in states with more relaxed lockdown rules are still looking to go on vacation to destinations that allow them in. The cost of accommodation, travel, food and extra amenities like spa days, boat trips, and tours add up. Usually, travelers put these expenses on their credit cards and land up paying off the vacation many months or years after it has ended at a much higher cost due to the interest. Buy Now Pay Later travel financing offers your customers a more affordable way to jet set without mounting interest rates if paid back on time monthly. 

Electronics

Unfortunately, our devices are not indestructible. Accidents happen and it is not a cheap exercise to replace them. Outdated technology is also costly to upgrade. And the truth is that only a fraction of your customers have the extra cash lying around to buy these goods upfront. Many people are reluctant to swipe their credit cards for these costly purchases because it not only increases their credit utilization, leaving them with a very low available balance for other emergencies that may arise, but it also lands up costing more once the APR’s, interest, and fees are factored in. With electronic financing options like BNPL, your customers get to choose the terms and conditions that best suit their pockets. Why let your customers max out their credit balances when you can offer them instant financing that is transparent and gives them more bang for their buck with flexible terms to choose from.

Furniture

Much like electronics, furnishing a new house or replacing a mattress is an expense most can’t afford to pay for right then and there. Layby options are also not the ideal solution when it comes to furniture financing. Customers don’t want to pay off a couch they can’t enjoy until the final payment is made. It is a far better shopping experience for the customer when they get to buy the couch or mattress they have been looking for without having to pay up the full amount upfront or wait a few more months until they can go pick up the paid in full goods. Buy Now Pay Later furniture financing is the way forward. Customers can purchase the products they want and take them home the same day without worrying about settling the full cost right then and there. 

These are just a few of the many industries that benefit from BNPL pay later. When all is said and done, it is the final sale that matters. When customers are comfortable and feel confident in your financing options, they will not only complete the transaction but will be more likely to return to your business – a business that understands the financial needs of the modern-day shopper. 

Customer lifetime value (LTV) refers to the total amount of money a customer spends throughout their entire lifetime spent shopping with your Shopify store. An increase in attention to customer lifetime value allows online retailers to leverage their shoppers’ purchasing behaviors, activate long-term growth through customer retention, and model new strategies for improving average order values within a shopper’s LTV. There is no one strategy for creating a fruitful customer LTV, rather a culmination of activities including one of the most powerful sales-boosting integrations, point of sale financing.

ChargeAfter offers the most comprehensive point of sale financing platforms on the market and, in this article, we will highlight five ways Shopify retailers can maximize their customer LTV with this powerful plugin.

1. Builds Customer Loyalty

ChargeAfter’s multi-lender point of sale financing platform is a value-add integration that builds customer loyalty by providing return shoppers with access to consumer financing to make more and/or larger purchases. The benefit of this platform’s ability to support customers improves the potential retention of those shoppers, ensuring that brands maximize the monetary output of their consumers throughout their customer LTV. The perk acts as a loyalty drive offered to all shoppers, creating a superior shopping experience that attracts more sales each month.

2. Secures Larger First-Time Orders

With regards to customer acquisition, online retailers need to consider strategies for ensuring the maximum customer spend during their first order should their customer LTV be limited with one’s Shopify store. In order to do so, retailers should integrate ChargeAfter’s point of sale financing as it encourages large ticket orders. Shoppers purchasing from Shopify stores with ChargeAfter’s plugin are capable of funding larger orders and are more inclined to do so as they are capable of paying back loans over comfortable periods of time with no additional interest rates. This strategy should ensure that each new customer makes a substantial order, raising your average order values and securing a larger customer LTV from short-term shoppers.

3. Personalization Encourages Sales

Customers who feel personally connected with a brand are more likely to shop with that brand, thus personalization of marketing is key to increasing their customer LTV. A fantastic way to create this personal connection is by offering personalized marketing strategies, with point of sale financing being a critical checkout personalization feature that gives customers individualized repayment plans according to their unique shopping situation. 

4. Focus on Customer Experience

The checkout stage is the most crucial touchpoint in the consumer journey, however, retailers should not forget about the myriad of other touchpoints of the consumer experience. For most Shopify teams, it can be difficult to find the time to leverage all areas of the user experience, thus automation remains a crucial cost-saving strategy for these stores. Point of sale financing is an automated checkout procedure that allows your shoppers to access funds on the fly without having to leave your store. ChargeAfter handles the entire submission to lending process on the back-end, and your business only sees the profits generated from increased customer LTV.

5. Longer Shopping Leads to Sales

The longer shoppers spend on your online store, the more likely they are to purchase. This goes for all Shopify retailers, and owners, therefore, need to consider methods for keeping customers in their stores and engaged. As mentioned above, ChargeAfter’s point of sale financing platform ensures that shoppers remain in your store while sourcing consumer financing. This is more likely to result in greater customer lifetime value as shoppers make more purchases without the worry of having to seek capital from third-party sites or their financial service providers. 

The use of ChargeAfter’s point of sale financing ensures that your Shopify store builds customer loyalty, improves shopping experiences, and leads to larger average order values, encouraging more profitable customer LTV in the process.

Whether your business is new to Shopify retail or you’ve had success on the platform, the need for a seamless shopping experience remains. Online shopping has grown tremendously and projections predict that the trend will continue, meaning online stores need to determine new ways to attract new customers and retain existing shoppers if they wish to thrive in the competitive online shopping space. This involves developing a clear and efficient shopping experience through the integration of key user experience tactics such as consumer financing and omni-channel strategies.

In this article, we outline how Shopify retailers can create a seamless shopping experience with POS consumer financing from ChargeAfter.

What is ChargeAfter’s Consumer Financing Platform?

Consumer financing platforms are designed to give customers access to repayment plans at checkout, encouraging them to make a purchase and pay for it in monthly installments at later dates. The power of consumer financing lies in its ability to give shoppers immediate access to the capital required to make a purchase. But, what sets one consumer financing platform apart from others? ChargeAfter has differentiated itself as the go-to consumer financing platform as it utilizes a back-end multi-lender process that gives customers access to zero-interest capital at the push of a button. This platform comes as a Shopify plug-in for seamless integration and plans are some of the most budget-friendly on the market. 

What Makes Consumer Financing Platforms Worth It?

The benefits of integrating ChargeAfter’s consumer financing platform are manifold, serving both business and customer for profitable growth and better shopping experiences. The benefits are linked to the platform’s ability to encourage more sales monthly while meeting the growing demands of online shoppers who browse Shopify for the best deals and greatest user experiences. Let’s take a look at the shopping experience benefits for Shopify retailers utilizing this consumer financing platform:

Shopping is Quicker Than Ever

When it comes to buying from Shopify retailers, customers make their minds up in a matter of seconds upon arriving at the checkout process. This critical consumer touchpoint is a make it or break it moment, and the best and most successful Shopify stores give customers the quickest time to purchase to close deals. This involves integrating a consumer financing platform as these plug-ins allow customers to purchase products immediately without having to leave one’s online store. At the push of a button, they are given access to zero-interest repayment plans better than anything they could source from third-party sites or their financial service providers. This efficient process creates a seamless shopping experience for quick sales. 

Shopping Big is Easier Than Ever

Consumer financing platforms like ChargeAfter also create a more engaging shopping experience by giving customers more leverage when making a purchase. The addition of zero-interest repayment plans means shoppers can have access to the capital required to make large ticket purchases. ChargeAfter’s platform promotes large ticket sales in a variety of ways and doing so benefits both the online shopping experience and a retailer’s bottom line. 

Shopping Benefits are Front of Mind

Customers shop with brands that benefit their shopping experience. The integration of consumer financing from ChargeAfter makes these benefits front of mind as customers are continuously reminded of the powerful Shopify integration whenever they review their carts to make a purchase. Providing this value-add to shoppers encourages them to become first-time buyers as well as retains existing customers who wish to shop on a monthly or yearly basis.

From bringing your brand’s value-add to your customers’ attention to creating more opportunities for big sales, integrating ChargeAfter’s multi-lender consumer financing platform creates a seamless shopping experience for customers that helps drive monthly sales.

When it comes to Shopify eCommerce, competition can be rife and online stores across all industries vie for the attention of conscious and confident online shoppers equipped with the decision-making power to make or break an online retail store. Conversion rates are a key metric to determine success, and eCommerce platforms need to find new ways to differentiate themselves from the competition to land sales and promote business growth. Ultimately, conversions boil down to the checkout stage and how many customers actually make a purchase. Through the integration of buy now pay later financing, Shopify eCommerce platforms could give themselves a leg over the competition.

But, how exactly does buy now pay later financing from ChargeAfter boost Shopify eCommerce and the aforementioned conversion rates? In this article, we assess the importance and benefits of integrating this multi-lender consumer financing platform with your eCommerce site.

Peace of Mind Shopping

The benefits of buy now pay later solutions for improving conversion rates typically lie in the psychological associations linked to the platforms. With ChargeAfter, customers receive peace of mind knowing that they can comfortably pay off purchases over time with minimal to no interest over and above the purchase. This means that more shoppers are inclined to convert from browsing customers to buying brand loyalists. Peace of mind is one of the most powerful psychological aspects of improving conversion rates in an environment when shoppers are more skeptical of online shops than ever before. Furthermore, customers are quick to abandon their carts for online retailers offering the best deals and greatest added value. 

Appeals to More Markets

Another factor that contributes to increasing conversion rates is having access to a broader market. Many Shopify eCommerce platforms limit themselves to a specific target audience and are not equipped with the tools to expand into new areas of revenue potential. A benefit of introducing buy now pay later with ChargeAfter is giving your online business more freedom to access untapped markets in your industry. The following modern markets are available and eager to shop with retailers that offer extensive consumer financing models:

• Millennials and GenZ’s: these modern markets do everything that they can to avoid debt and financial pressures. With consumer financing, online retailers can entice these conversions by offering zero-interest repayment plans over comfortable time periods.

• Skeptical Shoppers: online shoppers are often unwilling to shop with retailers that do not offer comprehensive repayment plans as it is inconvenient for them to have to source loans from third-party sites or their financial service providers. The inclusion of ChargeAfter gives you immediate access to these shoppers for increased conversion rates. Furthermore, these shoppers are not hindered by the fear of having to undergo credit checks when buying from Shopify sites integrating ChargeAfter’s buy now pay later platform.

Shoppers Buy Upfront and In Full

Conversion rates soar at Shopify stores that include consumer financing from ChargAfter as shoppers confidently make orders quicker than ever through efficient and effective upfront financing. Businesses benefit from this as shoppers are capable of paying upfront and in full with the help of ChargeAfter’s extensive platform of lenders. This means that your online store experiences immediate increases in fully-paid conversions, both improving the rates and monthly order values of those conversion rates.

By catering to consumers’ online shopping doubts, attracting modern buying markets like Millennials and GenZ’s, and facilitating fully-paid conversions every month, Shopify retailers can boost their conversion rates, increase their average monthly order values, and experience quick brand growth through the integration of ChargeAfter’s buy now pay later consumer financing platform. 

Waterfall consumer financing is proving exceptionally beneficial for Shopify eCommerce retailers, and no waterfall financing platform is providing quite as much value to these online retailers as ChargeAfter. The powerful, seamless, and affordable ChargeAfter waterfall financing platform is one of the most sought-after among the best Shopify stores for its ability to provide consumers with the ultimate online shopping experience and, in turn, encouraging business growth among partners who have integrated the platform. In this article, we share more information about this waterfall consumer financing platform as well as highlight the benefits that it could offer your Shopify eCommerce store.

What is ChargeAfter’s Waterfall Consumer Financing Platform?

ChargeAfter’s waterfall consumer financing platform is a multi-lender checkout plugin that gives customers shopping with Shopify stores access to consumer financing at the simple tap of a button. How it works is that consumers request financing and receive almost immediate access to a trustworthy lender with repayment plans that include zero additional interest. The request is funneled through a series of prime and subprime lenders until the request is accepted by a lender willing to loan them money, and this happens all on the back-end from your Shopify store. This is exceptionally powerful as most financial service providers are incapable of offering repayment solutions as competitive as this and shoppers do not even have to leave your store to have access to financing solutions. 

How Does it Benefit Shopify Retailers?

So we know that this integration is extremely beneficial for the consumers, but how does it benefit the retailer? Well, marketing teams are very much aware of the fact that sales depend heavily on factors that affect customer experience. And, the checkout stage is the most critical part of the customer journey as this is where financial decisions are made. Funneling customers through the checkout process is crucial to business growth, and this can be promoted in the following ways with the integration of ChargeAfter’s waterfall financing platform:

More Customers Shop More Frequently

By integrating ChargeAfter’s waterfall consumer financing solution, you give more customers access to quick financing solutions that allow them to order the items on their wishlists. More shoppers in your sales funnel are capable of shopping on a more regular basis, especially considering that the zero-interest repayment plans mean that they are more inclined to make a purchase. By raising your daily orders, you can drive up monthly sales volumes.

Customers Return More Frequently

The perk of partnering with ChargeAfter is that you promote customer satisfaction among your existing and loyal consumer base. Acquiring new customers is costly, so retargeting existing shoppers is a much more budget-friendly Shopify strategy that can be harnessed with greater results through the inclusion of waterfall financing. This is because shoppers who already trust your brand are able to make frequent orders of their favorite items without having to dip into their savings or pay costly interest-based monthly installments.

Customers Purchase Larger Carts

Another extremely beneficial factor regarding the introduction of a buy now pay later platform is that it encourages consumers to make larger orders. Shoppers who may have previously been unable to order large ticket items, like furniture or TVs, are now encouraged to do so as they do not have to fork out large sums of money as with the hefty interest rate repayment solutions offered by their financial service providers. The integration of ChargeAfter allows them to avoid the middleman and get costly items at the best value, driving up your average order values in the process. 

From increasing the rate at which shoppers buy from your Shopify store to encouraging customers to return and shop again as well as promoting the sale of costlier items, ChargeAfter’s waterfall consumer financing platform offers Shopify eCommerce retailers a range of benefits.

Shopify has approximately 11 percent of the total eCommerce market share, putting the platform ahead of several other eCommerce solution providers. The power that Shopify businesses have over the online retail space continues to grow, and this is a result of Shopify stores offering customers a seamless online shopping experience that caters to their growing consumer needs. Despite these facts being true, many Shopify retailers are unaware of key retail strategies that drive profitable growth and promote monthly sales. In this article, we shed light on one of the most powerful Shopify integrations that every business owner can leverage for improved revenue generation. The solution comes in the form of a buy now pay later Shopify platform powered by the multi-lender market leader, ChargeAfter.

Below, we discuss how your online store can integrate ChargeAfter’s effective solution with your Shopify eCommerce platform seamlessly and showcase the benefits of doing so.

What is ChargeAfter’s eCommerce Solution?

Buy now pay later Shopify solutions are not a new concept, however, ChargeAfter is taking the idea one step further by offering the most affordable and reliable multi-lender platform that can be easily integrated with any Shopify store. The multi-lender platform for merchants is a sought-after consumer financing system that activates key marketing strategies at one of the most critical consumer touchpoints for online shopping, the checkout process. In a nutshell, the ChargeAfter platform provides your consumers with access to consumer financing at the push of a button by connecting them with tailored financing plans from a large pool of lenders. Consumers need not worry about credit checks or other hassling online shopping experiences should they wish to place an order but do not have the capital to do so. This solution increases the time to purchase and offers businesses access to a wealth of benefits we will outline below.

The Benefits of Integrating ChargeAfter’s Buy Now Pay Later Shopify Platform

The benefits of integrating ChargeAfter’s platform are two-fold – offering exceptional shopping experiences for your customers while promoting sales and driving up business revenue. Let’s take a closer look at how your business benefits from this multi-lender platform:

Access to New Customers

Customer acquisition can become costly, but chances are customers are browsing your online store but have yet to be in a position to purchase. These warm leads can be targeted through the integration of a buy now pay later Shopify solution. This is because new customers can have quick access to capital at zero interest fees and make instant purchases without having to factor in extensive repayment plans. The quicker process, ease of use, and exclusion of credit checks with this platform allow your business to tap into these new customers today.

Rewarding Return Customers

Acquiring new customers is one part of the marketing strategy, and promoting return customers is the other. This is arguably even more important as return customers represent loyal buyers who trust your brand and are willing to spend with you. As a result, Shopify retailers need to consider consumer financing solutions like the platform developed by ChargeAfter as these allow loyal customers to make larger purchases without concerns over costly repayments. These return customers will feel rewarded and more inclined to shop with you, driving up your average monthly sales volumes as well as large ticket purchases.

The integration of ChargeAfter’s multi-lender platform is one of the most popular Spotify strategies for driving up revenue and satisfying customers who shop on the online platform. Your business can get ahead of the competition by showcasing the added value to your customers through this integration, a strategy that leverages your existing consumer shopping experience with state-of-the-art financing.

Point of sale consumer financing is one of the most effective checkout strategies to implement into an online store as ChargeAfter offers one of the most affordable and powerful platforms on the market designed to benefit your business as well as empower your customers. The platform filters shoppers through a prime and subprime lending process whereby they are connected with reputable lenders and receive consumer financing with no interest attached. Integrating this multi-lender platform is a surefire marketing tactic that is bound to generate increased sales and customer loyalty, and in this article, we discuss the 4 key ways ChargeAfter’s point of sale consumer financing will empower your customers. 

1. Give Them Access to Tailored Payment Plans

In an age where everything can be purchased online and there are billions of online retailers vying for consumer attention, customers find themselves drawn to companies that offer unique strategies to ease their online shopping experiences. One such method that is proving extremely beneficial is point of sale consumer financing, more specifically multi-lender platforms like those offered by ChargeAfter. This particular platform empowers customers by giving them seamless access to personalized payment plans tailored to their unique requirements. Personalization in marketing is extremely attractive for customers as it showcases a company’s desire to facilitate their shopping needs. The multi-lender platform from ChargeAfter is one of the most powerful personalized consumer financing platforms that ensures your shoppers are capable and comfortable making regular orders from your online store. 

2. Allow Them to Shop Without Hassles

Another incredibly empowering benefit for shoppers buying from online retailers that integrated point of sale consumer financing platforms is that it is a hassle-free and seamless financing solution. Rather than having to leave your store and consult with third-party lenders or financial service providers, customers are able to apply for financing from the comfort of their homes and via the seamlessly integrated platform. Furthermore, no credit checks are required by customers to have access to the beneficial multi-lender platform offered by ChargeAfter. This solution gives consumers peace of mind and encourages them to make frequent purchases with your store as they are capable of doing so as well as are unable to find better financing deals elsewhere. 

3. Empower Them to Make Big Purchases

An added benefit for both businesses and customers who integrate with or use respectively is the ability to make big purchases of items that would otherwise become very costly through interest-based repayment plans. Products like furniture, mattresses, jewelry, and electronics are all costly items that shoppers are cautious buying as they either do not have the current capital to do so or are concerned over the amount that they will end up investing through interest rates. eCommerce stores that integrate ChargeAfter’s multi-lender platform can mitigate these concerns and empower shoppers to make big purchases thanks to quick access to zero-interest payment plans with reputable lenders. 

4. Reward Them for Customer Loyalty

The cost of acquiring new customers is one part of the marketing strategy, and encouraging previous shoppers to buy again is another facet that needs to be considered by online business owners. This is especially important considering the return customers are more affordable to target through marketing strategies. Where you can improve the rate at which your store captivates return customers as well as reward those loyal to your business is through the integration of point of sale consumer financing. Customers who return to your store and see that they have access to zero-interest financing solutions will be inclined to buy again and feel satisfied that your business is doing its best to facilitate their financial constraints in the most budget-friendly way.

Integrating ChargeAfter’s point of sale consumer financing platform will empower your customers by giving them access to personalized payment plans, allowing them to enjoy a stress-free shopping experience, giving them opportunities to make larger orders, and rewarding them for their loyalty.