Split’s Price Widgets: How do they grow your business?
Published on 29 September 2020, Farhanah Hussain
What exactly are price widgets? The minute your customers arrive at your website, they are able to clearly see the Split’s price widgets. They are part of our integrated payment solution that educates your customer about their flexible payment options.
The concept of “buy now, pay later” is a new, innovative payment solution currently being introduced to the region, and we want to make it as simple as possible for customers to understand and use. We remove the ambiguity of “instalment payments” by creating dynamic price widgets that are able to auto-calculate the price of their instalments, thus reducing drop off and cart abandonment.
This increases the attractiveness of your product immediately, with no marketing effort from you. You do not need to create sales, discounts or special promotions to win your customers over once they’re on your site, our price widgets do the heavy-lifting.
By boosting your customers’s confidence in their purchasing power, you can enjoy
- Higher conversions: more willing to spend on the product knowing that they are fully able to afford your product without compromising on their budget.
- Higher basket values: the transparent costs of instalments delivered early in the customer journey encourages customers to buy the products they need, without needing to go for a more affordable, budget option.
This personalised experience ensures that your customer journey is as smooth as it can be. Ultimately, our goal with the price widgets is to provide effective messaging that can remove shopping anxiety that your customer might have to improve your conversions.
Your website, your control
The price widget is integrated for all Split merchants, but at any time if you need to hide it, you can do so easily - just let us know in advance. Plus, if you don't want to offer instalments for all your products, you can turn it off for the products of your choosing.
You can also choose to use the price widget as a motivation tool for customers to spend more e.g. “Spend RM250 more to qualify for paying in up to 3 interest-free instalments with Split."
The significance of price widgets
However, here are a few reasons to convince you why having the price widgets is so important:
Early touch point between your customer and their payment options Part of the shopping experience, and a big part, is how much the customer is willing to pay while they shop. The price widget reduces the sticker shock and lets them know as soon as possible that your product is completely within their means, by splitting up the costs of your purchase.
Easy adoption of a new payment method The customer journey has to be as smooth as possible, and a new form of payment can be intimidating, especially depending on your specific customer profile.
Our solution aims to resolve that challenge by providing personalised message in the pop-up that explains the widget, customised to any product that they would be interested in. At one glance, they are able to see
- The attractive price of instalments
- Understand how to pay with Split with simple guided steps
- Dates of future instalments, with the prices to clearly illustrate how simple instalment payments are
Split’s Price Widgets: How do they grow your business?
Published on 29 September 2020, Farhanah Hussain
What exactly are price widgets? The minute your customers arrive at your website, they are able to clearly see the Split’s price widgets. They are part of our integrated payment solution that educates your customer about their flexible payment options.
The concept of “buy now, pay later” is a new, innovative payment solution currently being introduced to the region, and we want to make it as simple as possible for customers to understand and use. We remove the ambiguity of “instalment payments” by creating dynamic price widgets that are able to auto-calculate the price of their instalments, thus reducing drop off and cart abandonment.
This increases the attractiveness of your product immediately, with no marketing effort from you. You do not need to create sales, discounts or special promotions to win your customers over once they’re on your site, our price widgets do the heavy-lifting.
By boosting your customers’s confidence in their purchasing power, you can enjoy
- Higher conversions: more willing to spend on the product knowing that they are fully able to afford your product without compromising on their budget.
- Higher basket values: the transparent costs of instalments delivered early in the customer journey encourages customers to buy the products they need, without needing to go for a more affordable, budget option.
This personalised experience ensures that your customer journey is as smooth as it can be. Ultimately, our goal with the price widgets is to provide effective messaging that can remove shopping anxiety that your customer might have to improve your conversions.
Your website, your control
The price widget is integrated for all Split merchants, but at any time if you need to hide it, you can do so easily - just let us know in advance. Plus, if you don't want to offer instalments for all your products, you can turn it off for the products of your choosing.
You can also choose to use the price widget as a motivation tool for customers to spend more e.g. “Spend RM250 more to qualify for paying in up to 3 interest-free instalments with Split."
The significance of price widgets
However, here are a few reasons to convince you why having the price widgets is so important:
Early touch point between your customer and their payment options Part of the shopping experience, and a big part, is how much the customer is willing to pay while they shop. The price widget reduces the sticker shock and lets them know as soon as possible that your product is completely within their means, by splitting up the costs of your purchase.
Easy adoption of a new payment method The customer journey has to be as smooth as possible, and a new form of payment can be intimidating, especially depending on your specific customer profile.
Our solution aims to resolve that challenge by providing personalised message in the pop-up that explains the widget, customised to any product that they would be interested in. At one glance, they are able to see
- The attractive price of instalments
- Understand how to pay with Split with simple guided steps
- Dates of future instalments, with the prices to clearly illustrate how simple instalment payments are
