Ways to Make Waterfall Consumer Financing Work for Your eCommerce Store
Waterfall consumer financing is growing as the number one eCommerce strategy among the biggest online retailers across various platforms including WooCommerce, Magento, Bigcommerce, and more. The shift to waterfall consumer financing integration is a method to acquire new customers faster as well as promote long-term customer retention for higher customer lifetime values. eCommerce stores that utilize this type of financing feature are more likely to succeed as they add additional value to their consumer’s online shopping experiences as well as drive profit through effective user experience optimization.
But, how do these eCommerce stores successfully integrate consumer financing for growth? In this article, we explore the best ways to make waterfall consumer financing work for your eCommerce store to help you get ahead of the competition.
1. Utilize Efficient Waterfall Consumer Financing Platforms
Consumer financing solutions are becoming more readily available as the strategy becomes more popular. But, with so many financing platforms to choose from, business owners may struggle to get the most value from consumer financing when choosing which service provider to partner with. When it comes to securing profitable growth with waterfall financing, ChargeAfter is making a name for itself as the go-to solution for the best online retailers in the market. ChargeAfter’s powerful multi-lender platform separates itself from the competition in its ability to provide comprehensive financing plans for consumers that are zero-interest driven. Furthermore, the lack of credit checks is another key selling point of this platform. For businesses, ChargeAfter is a seamlessly integrated plugin that is affordable to ensure that business owners see the greatest return on investment (ROI).
2. Implement Sooner Rather than Later
More and more eCommerce stores are seeing the value in consumer financing, meaning the competition will likely have integration with a waterfall financing partner already. It is imperative that businesses seek opportunities to integrate their own buy now pay later solutions as soon as possible should they wish to capitalize on their current and future consumer base. The longer an online retailer takes to instal consumer financing into their checkout journey, the greater the chances of missing out on critical sales.
3. Make Your Financing Solutions Known
After successfully integrating a consumer financing feature, it is important to drive consumer attention to this value-driven feature as well as the benefits it can offer consumers. This is especially important for consumers that are unaware of consumer financing options. Fortunately, the ChargeAfter plugin is a prominent feature that is displayed seamlessly during the checkout phase of the consumer journey to drive this attention. The plugin utilizes a fluid user interface (UI) to do this while not detracting from your digital store. Business owners can take this awareness one step further through their own marketing initiatives.
4. Track Analytics and Improve Systems
As with all marketing strategies, tacking analytics and improving systems is pivotal to the success of one’s waterfall consumer financing feature. Analytics drive improvements that seek to better a consumer’s user experience based on real-world data and evidence as opposed to assumptions. ChargeAfter is a company that provides analytics and recommendations for all partners in order to optimize the consumer financing journey and drive more sales. The benefit of having this insider data-driven oversight is invaluable and is a key benefit to the unique platform.
5. Support Customers Beyond a Sale
With your consumer financing a cut above the competition, you can focus time and energy on supporting the customer journey beyond the sale itself. Using ChargeAfter will free up resources to help online retailers make smarter decisions when it comes to email campaigns, post-sale marketing strategies, and customer retention tactics for greater return on investment.
Take your eCommerce store to the next level with these key ways to make waterfall consumer financing work for you!