Category: Blog

Despite the many benefits of buy now pay later solutions, thousands of WooCommerce platforms are yet to adopt these powerful consumer financing integrations and, as a result, hinder themselves when it comes to increasing average order volumes, improving customer retention, and promoting sales rates. With ChargeAfter’s revolutionary buy now pay later WooCommerce plugin, online retailers can experience these benefits and more within days. In this article, we will discuss how leveraging this particular buy now pay later solution can encourage growth with regards to promoting large ticket sales.

How Large Ticket Sales Improve WooCommerce Business

Large ticket sales are the cornerstone to WooCommerce business success as they amount to far greater return on investment, improvements in large ticket sales drive up average minimum order values, and they supplement inevitable poor-performing months in a WooCommerce’s sites yearly calendar. The benefit of encouraging large ticket sales cannot be ignored, yet many retailers fail to facilitate the efficient and consistent purchase of these expensive items. It would be wise for retailers to pinpoint new tools to facilitate the sustainable purchasing of expensive items, and one crucial method is through consumer financing.

ChargeAfter has, to meet this need, developed a buy now pay later platform that offers consumers incredible, tailored financing to ensure they are capable of making large ticket purchases. The benefit of a multi-lender platform ensures that no customer turns away during the checkout process and abandons their cart. 

How Buy Now Pay Later WooCommerce Solutions Drive Large Ticket Sales

The reason that ChargeAfter’s buy now pay later WooCommerce solution is so successful is because it utilizes a multi-lender platform that other similar services on the market do not. This means that customers are funneled through a reliable lending platform until they are matched with a lender capable of fulfilling their unique consumer financing requirements. Featuring no credit checks and an array of lenders with minimal to no interest rates, customers shopping with ChargeAfter-integrated WooCommerce stores are more inclined to accept consumer financing for large ticket purchases.

Buy now pay later WooCommerce solutions offer customers several other significant benefits that may help promote the sale of large ticket items. We have outlined these in more detail below:

Improved Customer Loyalty for Large Ticket Sales

Customer loyalty plays a pivotal role in large ticket sales as customers who trust your brand are more likely to make big orders than those shopping for the first time. To ensure that customers become loyal shoppers, you need to provide many novel touchpoints on their consumer journey. This is especially true during the checkout stage, and ChargeAfter’s buy now pay later solution is one of the most powerful checkout plugins to drive large ticket sales through encouraging customer loyalty. This is because this platform is reliable, trustworthy, and eases consumer challenges during their shopping experience. 

Stronger Brand Image for Greater Order Values

As consumers become more skeptical of brands, your company image is important when punting large ticket sales. Consumers searching for expensive items such as mattresses are far more eager to purchase from WooCommerce retailers with a strong brand image backed by positive customer reviews. Despite many review strategies capable of encouraging customers to leave positive reviews, consumer financing with zero interest rates from ChargeAfter’s buy now pay later WooCommerce platform is becoming a popular integration for its ability to facilitate a better shopping experience. For this reason, customers may be more likely to share great experiences that they have had with your brand.

Large ticket sales are crucial to WooCommerce business success and the integration of ChargeAfter’s buy now pay later platform will allow your online store to thrive in the competitive retail landscape through facilitating greater value purchases.

The success of one’s WooCommerce store can be attributed to several key consumer metrics such as average order value, abandoned cart rate, and return customer rate. While all metrics are used in an analysis of an online store’s performance, customer retention is an invaluable contributor to one’s WooCommerce success. According to Hubspot, customer retention is paramount to online retail success as it is significantly more affordable to target existing customers, loyalty ensures a consistent flow of revenue, and referrals are critical in the competitive WooCommerce retail landscape. 

For retailers wanting to improve their customer retention, integration with ChargeAfter’s multi-lender consumer financing platform is a critical step to seeing better return customer rates and experiencing the benefits that come with increased numbers of returning customers.

What is ChargeAfter’s Multi-Lender Consumer Financing Platform

ChargeAfter’s multi-lender consumer financing platform is an easy-to-integrate eCommerce plugin available to all WooCommmerce platforms that allows customers to access point of sale financing through a seamless onsite process. Customers leverage ChargeAfter’s existing database of lenders and receive access to financing at the checkout stage without having to consult their financial service provider or third-party lenders. The integration provides customers with plenty of value in its ability to filter them through a funnel of lenders without the need for credit checks as well as automatically find them a reliable lender offering finance at 0% interest. By benefiting the consumer, ChargeAfter’s multi-lender consumer financing platform supports WooCommerce stores.

How Does Consumer Financing Impact Customer Retention?

Customer retention is primarily affected by the user experience consumers have with your WooCommerce store. Successful WooCommerce stores leverage powerful plugins that make their customer’s lives easier, ensuring that their shoppers have little complaints upon browsing, purchasing, and receiving their orders. Furthermore, WooCommerce stores have consistent post-purchase strategies such as review request campaigns and call-backs that encourage customers to shop again. Beyond these strategies, consumer financing is an essential step to promoting customer retention for the following reasons:

Customers Trust Your Brand

ChargeAfter’s multi-lender consumer financing platform is the most reliable on the market, giving customers access to capital instantly with zero interest repayment plans. This transparent and comprehensive coverage promotes trust among your shoppers, building a loyal fanbase that is more likely to return to shop again. Brand trust is a pivotal part of the customer retention process and can be leveraged with the integration of reputable consumer financing from ChargeAfter.

Your Consumer Financing is the Most Competitive

Plenty of WooCommerce retailers offer consumer financing, though many have not yet reaped the benefits of ChargeAfter’s consumer financing platform. This is the most competitive consumer financing solution on the market as it ensures customers receive tailored repayment plans with zero interest fees. The lack of interest means that it does not make sense for customers to shop with online stores that have interest-based plans, encouraging more shoppers to return to your store.

You Can Focus Your Attention Where it Matters

Customers are more inclined to shop with WooCommerce stores that tend to their challenges, and consumer financing is a critical obstacle your shoppers face. With ChargeAfter’s multi-lender consumer financing platform, you can mitigate your shoppers’ experiences with these challenges as well as free up time to focus on your client service offerings. Client service strategies are crucial for customer retention, yet they require time and resources to develop. Free up time allocations by providing an automatic consumer financing platform and pool resources into other areas of the consumer experience.

From building brand authority and trust to offering the most competitive consumer financing on the market, and freeing up time to focus on all areas of the business, ChargeAfter’s multi-lender consumer financing platform will increase your customer retention on WooCommerce.

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.

Omni-channel strategies involve integrating various marketing channels seamlessly to provide consumers with an immersive and efficient front-end user journey. Omni-channel strategies are incredibly powerful and more and more Magento eCommerce stores are adopting steps to implement omnichannel eCommerce to improve consumer experiences, boost sales, promote customer loyalty, and gather data easier. In this article, we will outline omnichannel strategies in more detail, share how you can take your omnichannel strategy to the next level with ChargeAfter’s solution, and showcase the benefits of introducing this platform into your Magento retail store.

What is an Omnichannel Strategy?

An omnichannel strategy, as discussed, involves the integration of multiple marketing channels to give consumers a seamless user experience from one’s online store to a physical shop and beyond. No matter where in the sales funnel a consumer finds themselves, they will have access to integration between the website, apps, physical store, social media, email communications, and more. For example, a customer who sees a Magento site add on social media will be directed to the website where they can browse and place an order. They will then receive email notifications on order updates and be directed to review platforms to rate the online store’s products. This process is a simplification of an omnichannel strategy but helps elaborate on the kinds of tactics Magento retailers can employ when implementing such a strategy.

Take Your Omni-Channel Strategy To the Next Level With ChargeAfter’s Solution

The key point of difference that separates one Magento site’s omnichannel strategy from another is buy now pay later Magento platforms that enable quick, efficient, and responsive consumer financing. ChargeAfter is the leading integration platform for Magento retailers wishing to reap the benefits of multi-lender solutions, and any Magento site can quickly and easily partner with ChargeAfter to boost sales and increase margins. If you wish to take your omnichannel strategy to the next level, then consider integrating with ChargeAfter’s solution and receive these incredible benefits.

The Benefits of Buy Now Pay Later for Magento eCommerce

The benefits of buy now pay later for Magento eCommerce is two-fold, the solution from ChargeAfter supports both the consumer experience and, in turn, grows one’s business through driving sales and promoting customer loyalty. We have outlined a few of these benefits below:

Sales-Driven Omni-Channel Strategy

Opting to integrate ChargeAfter’s omnichannel solution turns your consumer financing options into a sales drive, allowing you to access a wide consumer base you may have not yet tapped into. These consumers who may have previously been unable to purchase large tickets from your store will now be more capable to move through the sales funnel and flow through your omnichannel marketing process.

Increased Consumer Satisfaction

Another critical benefit of omnichannel marketing, particularly in regards to strategies that include ChargeAfter’s buy now pay later Magento plugin is increased consumer satisfaction as an essential touchpoint in their user experience is assisted with consumer financing that allows individuals to access their desired goods. More sales equal more customers filtered through the strategy, helping drive positive reviews back to your social platforms showcasing your valuable customer service.

On-Trend and On-Demand

Magento retailers that integrate with ChargeAfter’s multi-lender platform benefit from showcasing their market-leading potential by incorporating new technologies that the modern consumer is more likely to expect during their online shopping experience. Being on-trend sets a precedent among the competition in your marketplace, helping your business achieve on-demand status among loyal consumers.

Omni-channel strategies are incredibly effective and can be supported with novel solutions like ChargeAfter’s multi-lender platform. This Magento integration allows businesses to benefit from a sales-driven omnichannel strategy that increases consumer satisfaction and drives profitable growth.

Has your WooCommerce eCommerce store done everything it possibly can to attract new customers and retain them? Considering that new marketing tactics such as omnichannel strategies and powerful plugins such as ChargeAfter’s point of sale financing multi-lender platform are being integrated by the best WooCommerce retailers, then the chances are that your answer to this question will be a resounding “no.” When it comes to online shopping, it is imperative that businesses find novel solutions to consumer financing problems, and that is exactly where ChargeAfter’s platform benefits WooCommerce. By providing new and loyal consumers with access to reliable and zero-interest financing at the checkout stage with the platform, businesses may achieve more sales. But, how exactly does ChargeAfter’s platform help e-retailers achieve this increase in sales? In this article, we will take a closer look.

Increased Customer Loyalty

Customers are more likely to shop with e-retailers that offer significant benefits in comparison with alternative competitors on the market. Customer loyalty plays a powerful role in a company’s sales as returning customers are extremely valuable. For this reason, the integration of ChargeAfter’s multi-lender platform may improve sales by building more loyal customer relationships. This is possible by providing customers with accessible means to consumer financing at no additional interest costs, showcasing the high regard for which a WooCommerce business holds its consumers. This ultimately results in more customers returning to purchase from your store, increasing your monthly sales.

Simple, Quick Purchasing Process

ChargeAfter’s multi-lender platform is easily integrated and provides consumers with a simple and quick online shopping process through back-end driven point of sale financing. How it works is that consumers simply select the consumer financing option available at checkout and receive automatic financial support from a sub-lender. This streamlines the process as opposed to consumers reaching out to third-party lenders and makes their shopping experience much quicker. A quicker shopping experience means more sales are possible per day, driving your monthly revenue upwards.

Improved Average Order Value

Part of the reason shoppers shy away from large ticket orders is that they don’t have access to the funds required to make a purchase. The more consumers that are unable to purchase your more expensive items, the lower your average order value becomes. The integration of ChargeAfter’s multi-lender platform can combat this as consumers are given access to capital and are encouraged to use the platform for the benefit of zero-interest on loans. This allows more consumers to make large ticket orders, improving your average order values and monthly sales.

Secure, Safer Point of Sale Financing

Another reason customers turn away from WooCommerce eCommerce stores is that the point of sale financing process is not always secure and safe. With ChargeAfter’s multi-lender platform, your site can benefit from instant access to reliable and trustworthy lenders through our vetted network. This saves you time spent exploring and attracting lenders to facilitate your shoppers, giving your consumers instant access to the most secure consumer financing available on the market. Happy and confident shoppers are more inclined to buy, growing your sales in the process.

Access to New Consumers

Finally, providing a comprehensive point of sale financing solution gives your WooCommerce eCommerce store access to an entirely new database of consumers. Customers that may turn away from competitors for their lack of no credit check financing solutions may land on your site and be encouraged to purchase thanks to the integration with ChargeAfter’s powerful multi-lender platform. More new customers mean more potential sales and more growth for your business.

From increasing customer loyalty to accessing new customers, ChargeAfter’s multi-lender platform helps WooCommerce eCommerce retailers around the world achieve more sales.

WooCommerce retailers can implement several plugins to drive sales and boost average order values, but few methods prove as significant as integrating a multi-lender platform. As online shoppers become more confident and ready to purchase through WooCommerce, qualities reflected in the latest statistics on the rise of eCommerce, your business’s online store should consider multi-lender platforms as a potentially beneficial integration to meet the expectations of these consumers. In this article, we will highlight how the ChargeAfter multi-lender platform can benefit your business through buy now pay later WooCommerce solutions and showcase the easy integration of this platform.

What is ChargeAfter’s Multi-Lender Platform?

ChargeAfter’s multi-lender platform for merchants is a powerful tool harnessed by the best WooCommerce websites for its ability to support consumers during the checkout stage of their customer journey. The platform filters buyers through a back-end lender platform that connects them with a lender capable of fulfilling their specific consumer financing needs. The platform saves consumers time and money by facilitating efficient delivery of reliable lenders in seconds and ensuring that consumers do not have to undergo the process of credit checks with third-party lenders before making a purchase. This can have a significant number of benefits for both the consumer and the WooCommerce retailer.

The Benefits of Buy Now Pay Later With WooCommerce

By helping your consumers shop online, you help your business grow. The two principles work hand-in-hand, and ChargeAfter’s powerful multi-lender platform has become the go-to consumer financing method for the best online retailers across multiple eCommerce platforms. This is because of the many benefits integration with ChargeAfter can have for your business, and we have outlined a few of them below:

Consumers Shop More Frequently

One of the biggest benefits of buy now pay later solutions with WooCommerce integration is the ability to boost your consumers’ average order values as well as encourage them to shop more frequently. Consumers that have quick and easy access to consumer financing are more likely to checkout rather than abandon their carts. This increase in the flow of buying consumers will improve your margins and help you capitalize on more skeptical online shoppers.

Shoppers Buy Bigger Items

Beyond increasing the stream of shoppers buying from your WooCommerce store, integrating with ChargeAfter’s multi-lender platform will allow more of your consumers access to point of sale financing capable of facilitating the purchase of large ticket orders. Consumers purchasing furniture, for example, stand a better chance of receiving funds from ChargeAfter’s platform than any other lender platform. This will increase the value of the average orders that your consumers place. 

How Easy is Integration with WooCommerce?

The great thing about ChargeAfter’s professional multi-lender platform is that it is easily integrated with WooCommerce. ChargeAfter has developed a seamless plugin that integrates with your online store and is available to consumers who reach the checkout stage of the customer journey. The integration is even more beneficial than traditional lender platforms as the complex process of filtering consumers to capable lenders all happens on the backend. Consumers are quickly given access to consumer financing without the fuss of having to fill out extensive forms and consult with lenders. ChargeAfter also offers affordable plans, making this particular multi-lender platform one of the most accessible on the market. 

With ChargeAfter’s multi-lender platform integrated into your WooCommerce website, your business can benefit from increased sales, improved revenue margins, and other powerful benefits aligned with your major marketing metrics. This integration can be done quickly and easily today by consulting a ChargeAfter WooCommerce specialist equipped with the knowledge to assist you with your integration process.

Online retailers using Magento’s powerful eCommerce platform are always on the lookout for back-end innovations to promote sales and boost revenue. From the consumer journey to the checkout process, every touchpoint is considered by the best Magento sites to achieve consistent, profitable growth. Business owners with marketing departments that have not yet assessed their current platform to determine interesting ways to streamline their customers’ experiences or attract new consumers should take note of how 0% APR consumer financing from ChargeAfter can be more effective than traditional marketing strategies such as discounts. 

In this article, we will outline APR financing in more detail, showcase its benefits as a marketing tool, and suggest how your Magento site can leverage this strategy with ChargeAfter to win customers.

What is APR Consumer Financing?

APR refers to an annual percentage rate and it considers the actual yearly cost of funds associated with a loan or investment. Simply put, APR financing calculates the interest expense on a loan as well as other costs involved in the procurement of a loan. For example, customers who make large ticket purchases on Magento eCommerce platforms such as a mattress need a mattress financing solution that takes into account their loan repayments including the cost of insurance for this lifetime purchase. The APR will include the actual percentage associated with all additional costs, giving consumers peace of mind knowing their exact monthly contributions to funding their dream mattress. The power of APR is in this inclusion of all associated costs, but how does 0% APR consumer financing benefit consumers beyond transparent repayment terms, and is it an effective marketing strategy for Magento retailers?

0% APR Financing is a Powerful Marketing Tool

0% APR financing, or interest-free financing, is an incredibly beneficial point of difference the best online Magento retailers offer their customers. Consumers who shop with stores that offer interest-free loan solutions are more likely to purchase from said retailer as the mitigation of incurring costs brings down their monthly expenses. Another important consideration is that customers are more inclined to make large orders through online stores offering 0% APR financing as steep interest rates on long-term loans can result in enormous repayment terms. Customers are suckers for a great deal, and 0% APR financing may be the greatest deal of them all. Hence, many Magento sites use this offering as a powerful marketing tool.

Is APR Financing More Powerful than a Discount?

While it may be more costly to offer 0% APR consumer financing initially, the benefit of receiving the total cost of sold products as opposed to discounted costs cannot be ignored when looking at long-term marketing strategies. In fact, 0% interest financing is economically equivalent to offering a 5% discount. Where it far outweighs the appeal of a discount and economic growth-boosting potential of offering one is in the way that it encourages faster purchasing decisions, larger order volumes, and sustained customer satisfaction. 

How to Leverage 0% APR Financing From ChargeAfter

Magento retailers can leverage the marketing potential of 0% APR financing with ChargeAfter’s powerful multi-lender point of sale financing solution. The system is designed to provide customers with fast access to interest-free loans by connecting them with reputable lenders capable of facilitating their unique shopping needs. The integration is seamless, and consumers are quickly matched with a willing lender to ensure that checkout is efficient as well as provide them with the necessary funding to make larger orders. With ChargeAfter’s 0% APR financing options plugged into your Magento platform, your store could increase customer retention and improve your bottom line today.

Consumers are smarter, more confident, and more careful during their online shopping journeys today more than ever before, and this is likely to do with the rise in eCommerce as a result of the Covid-19 pandemic. More customers have access to their favorite stores at their fingertips and more competition is drawing consumer attention as digital marketing soars. For this reason and more, Magento merchants need to develop innovative marketing strategies, utilize the newest online retail tools, and partner with the best consumer financing companies to target, convert, and retain customers who make considered purchases. 

But, what exactly is a considered purchase, what challenges do they present to Magento merchants, and how do Magento merchants benefit from offering consumer financing for considered purchases? We’ll take a closer look at all of these questions and answers in this article. 

What is a Considered Purchase?

Today, consumers are more inclined to research product options, take into consideration product reviews, and plan methods for financing large orders as they are more careful with their online shopping. This is even more notable with sentimental products such as jewelry, high-value items such as mattresses, and long-term investments such as real estate. As opposed to split-second decisions, or impulse buys, these purchases and more fall into what is called a considered purchase.

Considered purchases involve intensive customer research, competitor analysis, and consultation, typically owing to a longer purchasing cycle associated with the higher risk versus reward. Considered purchases are becoming more prevalent in Magento merchants’ stores, especially those looking to land large order volume purchases, and there are several significant challenges these platforms face regarding considered purchases.

The Challenges of Considered Purchases

Considered purchases slow down the time taken to make a sale, subsequently resulting in lower monthly sales reports. This can negatively affect a retailer’s financial figures and the prolonged purchasing cycle can lead to revenue loss. This is among the many challenges Magento merchants face from considered purchases. Listed below are several additional problems associated with considered purchases:

• Despite brick-and-mortar stores experiencing a decrease in foot traffic during the pandemic, studies suggest that almost half the percentage of global shoppers prefer making considered purchases in-store
• There are far more online Magento stores available to consumers, increasing competition for considered purchases

Does Consumer Financing Benefit Considered Purchases?

One of the critical ways Magento merchants can improve their sales of considered purchases is by leveraging the benefits of consumer financing. Consumer financing solutions from ChargeAfter spotlight the powerful support of multi-lender financing platforms in reducing the challenges associated with considered purchases. For example;

• Reduced purchasing cycle as consumers have quick access to personalized loan solutions, thus, increasing monthly sales and encouraging the growth of margins
• Large orders are funded more successfully because of the wide availability of lenders willing to loan to all types of shoppers, increasing revenue generated per order
• Zero credit checks give considered purchasers more confidence and widens a merchants consumer pool, developing a stronger and broader grasp of the Magento shopping market
• Personalized repayment plans ensure that each shopper or considered purchase benefits from tailored options, giving consumers peace of mind knowing that they are covered with the best possible financing solution
• Financing is done on the back-end, meaning Magento merchants can spend more time focusing on customer service and thus promote retention or facilitate a quicker time-to-purchase

The benefits of consumer financing for considered purchases are endless and cover far more than what’s listed above. These are just a few ways Magento merchants can utilize ChargeAfter’s consumer financing platform to secure considered purchases with their cautious buyers. Doing so should help your company see an increase in revenue, better margins, and consistent consumer growth despite online retail becoming more competitive.