There’s no point in losing customers who have actually gone through your products, liked some, added them in the cart but abandoned it after struggling through your long pesky checkout process. That is the opportunity of sales you missed. You are having a steady flow of traffic or visitors coming to your site but your sales flow is not matching up to it, just because a huge segment of customers are shoving off at the checkout stage. So, how to make a checkout process perfect? It is just about merging the two imperative aspects, i.e. usability and security. Here’s some coherent tips to get them right and create a quick and flawless checkout process.

Simple Sign in & Guest Checkout

Try to make it as easy as possible for the existing buyers to sign in and keep the options of signing in after people add items on their cart. You can even allow them to sign in via their social accounts in just a flick. And, don’t force the new visitors for registrations. Give them the option to either create an account or just checkout as a guest by being the first-time shopper.

Save up time in form filling

While the key is to save the valuable time of your first-time buyers, keep the form filling details short and precise. Further, to make the process of form-filling pretty fast, visually indicate the typing errors and put prefill in possible fields. But, on the whole, keep the process of form filling simple with just the necessary information needed for the purpose.

Put more detailing on the Cart page

Display the cart in details to let the buyers review what they are buying. Plus, let the customers who change their mind at the last moment to make amendments in the cart easily, i.e. add or remove items. Detailed cart page also implies including the exact and final prices as buyers are petrified by the hidden charges like tax or shipping fees. Lastly, to retarget those groups of visitors who generally “window shop”, allow saving of items on the cart. You can later remind them of their incomplete shopping venture and tempt them to buy by providing discounts.

Multiple Billing, Payments & Shipping Options

Provide multiple options for shipping options, and set the cheapest option as the default one. Make use of the postal code of customers to show them for the availability of your service and try to put clearer instructions at every stage to make transactions faster. Besides, allow for multiple payments options keeping options for visa, debit, credit and other cash cards.

Summary for Order Confirmation

Provide your customers with a confirmation email after they have finished placing orders. However, do not just send away confirmation messages from “noreply” mail. Instead, a real mail will be worthy to send and it also gives customers assurity with an address where they could get in touch if they later encounter any problem.

Deciding on a suitable platform for creating an online store should be the priority. But how can you determine which platform is ideal for making your business successful?

Here is a set of few questions which you must ask before choosing a suitable platform for your online venture.

Is the platform scalable?

Your business can progress with time which means that having a future-ready platform is a necessity. Hence, it is always a good choice to pick a platform that can not just meet the current business goals but also turns out to be a good choice for the long run. The ecommerce platform should let you handle the demands of the growing traffic. A scalable platform prevents your site from getting slow or unresponsive when high volume traffic is present on the site. Hence, it is essential to ensure that the platform you choose is scalable to meet your business needs.

Does it provide security?

Security can be stated as the primary concern when it comes to online business. The internet is full of intruders trying to steal the confidential data. Ensuring the safety of the confidential details of the customers during online transactions is a must. The payment details like, like credit/ debit card number and passwords should all be encrypted so that it is of no use even if someone manages to get hold of these details. Any loopholes in the security provided by the ecommerce platform can make the customers lose their trust and affect the sales of your online store. Hence, you should go for a platform that maintains a secure environment while processing online transactions.

Does it provide shipping solutions?

When we talk about ecommerce, shipping is undoubtedly a part to consider. For making an online business successful, it is necessary to have strong supply chain management. While creating an online store, you should be aware of all the logistics needs and the entire supply chain management life cycle. An ecommerce platform that provides easy integration with a third party shipping partner is always a good choice. Simple and automated shipping solutions can reduce manual intervention thus reducing the pain of logistics and helping you in focusing on various other factors that may result in the growth of your online business.

It can be a difficult task to find a platform that can be a complete solution for all the mentioned questions.

If you are looking for an affordable solution for building an online store, you can choose Store Hippo- a SaaS based DIY platform. We provide the best solution for all the listed features and can help you in taking your ecommerce business to a new level of success.

Even more startling: 10% of advice was found to leave investors in an even worse financial position.

Through a “vertically integrated business model”, Commonwealth Bank, National Australia Bank, Westpac, ANZ and AMP offer ‘in house’ financial advice, and collectively, control more than half of Australia’s financial planners.

It’s no surprise ASIC’s review found advisers at these banks favoured financial products that connected to their parent company, with 68% of client’s funds invested in ‘in house’ products as oppose to external products that may have been on the firms list.

Why the banks integrated financial advice model is flawed

It’s hard to believe the banks can keep a straight face and say they can abide by the duty for advisers to act absolutely in the best interests of a client.

Under the integrated financial advice model, there are layers of different fees including adviser fees, platform fees and investment management fees adding up to 2.5-3.5%

The typical breakdown of fees is usually as follows: an adviser charge of 0.8% to 1.1%, a platform fee of between 0.4% and 0.8%, and a managed fund fee of between 0.7% and 2.1%. These fees are not only opaque, but are sufficiently high to limit the ability of the client to quickly earn real rates of return.

Layers of fees placed into the business model used by the banks means there is not necessarily an incentive for the financial advice arm to make a profit, because the profits can be made in the upstream parts of the supply chain through the banks promoting their own products.

This business model, however, is flawed, and cannot survive in a world where people are demanding greater accountability for their investments, increased transparency in relation to fees and increased control over their investments.

It is noteworthy that the truly independent financial advisory firms in Australia that offer separately managed accounts have done everything in their power to avoid using managed funds and keep fee’s competitive.

The banks have refused to admit their integrated approach to advice is fatally flawed. When the Australian Financial Review approached the Financial Services Council (FSC), a peak body that represents the ‘for-profit’ wealth managers, for a defence if the layered fee arrangements, a spokesman said no generalisations could be made.

There are fundamental flaws in the advice model, and it will be interesting to see what the upcoming royal commission into banking will do to change some of the contentious issues surround integrated financial advice.

Many financial commentators are calling for a separation of financial advice attached to banks, with obvious bias and failure to meet the best interests of clients becoming more apparent.

Chris Brycki, CEO of Stockspot, says “investors should receive fair and unbiased financial advice from experts who will act in the best interests of their client. What Australians currently get is product pushing from salespeople who are paid by the banks.”

Brycki is calling for structural reform to fix the problems caused by the dominant market power of the banks to ensure that consumers are protected, advisers are better educated and incentives are aligned.

1. Cost of Living: Some factors, determining, the Cost of Living, include: wages (and wage growth); prices, etc, and how wages, are, or, aren’t able, to keep – up, with the increase in costs, etc! Most realize, we have, in the past – few months, experienced, a huge, jump, in pricing, most – apparent, in the food stores, restaurants, and, nearly, everything, related – to, day – to – day, existence, etc!

2. Federal Reserve: In recent times, the near – historic – low, extended period, of interest rates, has, in addition, to the intended measures (helping businesses, and the economy, in trying – times), has caused a Real Estate, Sellers Market, and, a huge rise, in home prices, in most parts of this country! In addition, it created a surge, in consumer use of credit, because, borrowing, appeared, cheaper! However, most economists forecast, many of these supports, and maintaining, such low rates, will, gradually, be reduced (or minimized), probably, beginning, next year. What impact will that have, and will we see, the historic reaction, which has been, when rates rise, it helps reduce inflation, etc?

3. National economy/ conditions: Largely, because of a world – wide, supply – chain, set of obstacles/ challenged, many industries, have experienced, challenges, in terms of, getting sufficient amounts of needed materials, etc! Go into, nearly, any store, and you will see, more – sparse, shelves, than we have seen, in recent memory! In addition, building supplies, products, food, toys, cars and car parts, etc, are under – stress, because of this!

4. Worldwide economies/ economic conditions: Nearly, every nation, is experiencing, economic issues and challenges! The United Kingdom, because of worldwide, as well as specific national trends/ causes/ conditions, has been largely, impacted! Since, we live, largely, in a global economy, when there is any disruption, in the supply – chain, it affects, everyone!

5. Stock and Bond Markets: Because of several reasons/ factors, the United States Stock Market, has benefited, significantly, and experienced, significant increases, in the price of stocks. In addition to the obvious ones, because, interest rates, have been, so low, many investors, believed, stocks, were, nearly, the only game – in – town! When, if, interest rates, rise, bond rates, will rise, and existing, bond prices, will adjust, and drop!

6. Immediate, intermediate, longer – term ramifications/ impacts: The immediate impact of inflation, is, usually, rising prices, and, wages, which, usually, rise, at a far – lower rate! In the intermediate – period, we begin to see, weakening economic trends, and in the longer – term, depending on how long, it ensues, there are often, several, undesirable ramifications, and impacts!

Don’t take inflation, and its risks, for – granted! The more you know, and understand, the better prepared, you will be!

1. Bond prices and interest rates: The price of a bond, generally, is inversely – related to interest rates! When these rates go down, prices, rise, and when they go up, the inverse occurs! Bonds have, what is known, as, a par – value, which is the price, paid, at the end of the term. Markets usually set these at 100, which represents $1,000 per bond, at maturity. However, during the period, the pricing can rise or fall, which impacts, liquidity – related issues!

2. Mortgage rates: For the last few years, we have been witnessing and experiencing, record – low, mortgage interest rates, which have helped the overall, real estate/ housing market, especially, in terms of, pricing increases! In most areas of this country, we are seeing, home prices, at their highest levels, ever, by a significant, dramatic amount! When this rate, is low, a home buyer is able to buy, more – house – for – his – bucks, because, his monthly payments, are so low! Consider, however, what might be the potential ramifications, and impacts, when these rates, will, inevitably, rise?

3. Consumer credit: Low costs of borrowing, help the automobile industry, in terms of consumer financing, etc! Although, not as much as other vehicles, rates on credit card debt, are lower, and there are often, shorter – term, promotions, offering deals! However, since, most of these are variable, and based, on some index, etc, what happens, when there is an increase, in this?

4. Business borrowing: Another area affected, is business cost of borrowing! Presently, they have had access, to relatively, cheap – money, which helps in reducing the costs of borrowing, overall operations, purchasing inventory, etc. But, what happens, when this, ticks – up?

5. Impacts on stock market prices: For some time, because bonds have paid so little, in terms of dividends, etc, many have considered, the stock market, the only game, in – town! In addition, many corporations, have seemed, better – off, than they probably are, and we have witnessed, a higher, ratio of prices to profits, than in the past! How long will this last? How high can it go?

Many factors impact these issues, especially: actual and/ or, perceived inflation; consumer confidence; politics/ government actions/ the Federal Reserve, etc. The more you know, and understand, hopefully, the better – prepared, you will be!