I’m often ranting about the need for online retailers to leverage what consumers know and love from the brick and mortar world. In many cases, it’s simply service - knowing and serving the right products or offers at the right time. So let’s assume a customized online experience delivers service to the max and now there’s a cart full of products.

At this point, we must consider payment options and what consumers want…

When you go to a traditional brick and mortar store, consumers have a choice when it comes to payment – i.e. pay with cash, credit or debit. But what happens online? All too often, the comfort of a cash alternative is missing. And for consumers who are concerned about security online, it’s often the reason they abandon the cart. Sure they could jump ship due to crazy high shipping fees or sheer guilt since it’s a cart full of those nice to have/don’t need purchases…but it often comes down to perceived security risks associated with credit card payments.

Here’s the bottom line - according to Jupiter Research, 68% of consumers who use credit cards online have no idea about their liability! This in turn causes them to be unsure, hesitate and often abandon the cart.

Enter personalization a la “we know you’re nervous, but don’t go because we offer cash alternatives to credit payments!” and you’ve got a new song to sing. Imagine this world for a minute. Isn’t it logical to think that this gentle reminder of an easy payment alternative - that’s in the comfort zone of most everyone on the planet - might just build the confidence of this potential online shopper. And for the merchant who almost lost the sale, this would translate into to boosted conversion rates as well. 

As part of our new podcast series, I recently had the pleasure of speaking with Samer Forzley, VP Marketing, at eBillMe who just happens to offer this very type of cash alternative payment solution which enables consumers to cash via online banking. In the quest for continually boosting online conversion, eBillMe and Sitebrand are in discussions on how to build best of breed campaigns where cart abandonment meets personalization and alternative payment options…stay tuned for that or tell us your thoughts.

Anyhow, for a deeper understanding, take a few minutes and listen to the podcast…