How ChargeAfter’s Multi-Lender Consumer Financing Platform Increases Customer Retention on WooCommerce
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.