Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Conversion Optimization with

Realtime Payment Analytics

19.11.2014

Conversion Summit

İstanbul

1https://www.iyzico.com

Predefined and Sequential Life:

Birth, School, University, Consultancy, Corporate Career, ...

2

@hakanerdogan

Life with Entrepreneurship:

Uncertain, ups and downs, stressfull, enjoyable, passionate, roller-coaster ...

1981 2005 2007 2012

2014Feb

2014Nov

iyzico

https://www.iyzico.com

3

Payment Systems Experience, Since 2007

Credit / Debit Cards :- EST / Asseco- Garanti Bank GVP- YKB Posnet

EFT / Wire Transfer:- Integration of

Internet Banking


E-commerce Steps and Flows

4

SEO

Adwords

Affiliate

SEM

…

1- Traffic

$ $ $

Product Image

Add to Basket

E-commerce Site

Product Info

4- Add to Basket2- Registration

E-mail

Name

Surname

Password

Password (re)GSM

Sex

+90

Reg. Form

M F

Register

3- Desire

Search, browse, find

women shoes Search


E-commerce Steps and Flows

5

5- Basket Page 6- Address Page 7- Checkout Page


Product 1

Product 2

Product 3

Proceed >>

Total : 100 TLShipment: 6 TLDiscount: 16 TLFinal: 90 TL

Address 1

Address 2

Proceed >>

Add New Address

Complete Payment

Name Surname

Card Number

Expire Year / Month/

CVC

8- Success Page

E-commerce Site

Payment Success !

CONVERSION

Conversion


SEO

Adwords

Affiliate

SEM

…

1- Traffic

$ $ $

8- Success Page

E-commerce Site

Payment Success !CONVERSION

…

Basket Conversion


8- Success Page

E-commerce Site

Payment Success !BASKET CONVERSION

…5- Basket Page

Product 1

Product 2

Product 3

Proceed >>

Total : 100 TLShipment: 6 TLDiscount: 16 TLFinal: 90 TL

Checkout Page Conversion


8- Success Page

E-commerce Site

Payment Success !CHECKOUT PAGE CONVERSION

7- Checkout Page

Complete Payment

Name Surname

Card Number

Expire Year / Month/

CVC

Conversion of What ?


CONVERSION

BASKET CONVERSION

CHECKOUT PAGE CONVERSION

How to Increase Basket Conversion Rate

10

Address(Delivery/Invoice)

Selection

Basket –Product

Selection

Payment Method Selection

PaymentResult

SUCCESS = CONVERSION

SHOPPING CART ABANDONMENT

%65+ *

* http://www.ritholtz.com/blog/2012/05/shopping-cart-abandonment/* http://baymard.com/lists/cart-abandonment-rate

GOAL: To Increase Conversion

• Minimum page transition

• Minimum click

• Minimum distracting elements

• Maximum information

• “Above the fold” concept

• Page performance


http://www.ritholtz.com/blog/2012/05/shopping-cart-abandonment/

http://baymard.com/lists/cart-abandonment-rate

Minimum Page Transition and Click

11

Max. 3 pages

No name surname, bank selection, card type (visa, mastercard, amex) selection

If there is only 1 address then skip address page

Do not use 3DS in possible

Expire Month & Year is asked before CVC2 and formatted as 08/17


Minimum Distracting Elements

12

No Menu, banner, logo, ads, basket items are clear

Additional info is given in modal/lightbox without leaving page

Clear header and no links


Maximum Information

13

Clear breadcrumb

Card logo, bank, and association is displayed

Basket and address summary is displayed

All banks installments and given card installments are displayed

CVC2 and 3DS information is given


Above the Fold Concept

14

Visible area of page

Buttons and links are placed in the visible area of the page


Design of Card Payment Page

15

Syntactic and SemanticValidations

• Length validation

• Numeric input validation

• 3DS supported card validation

• Debit card installment validation

• BIN validation and not existingVirtual POS – installment validation

• …

e.g.: Card Number• 15 or 16 digits, • CVV/CVC 3 or 4 digits, numeric• Luhn Algorithm check


http://en.wikipedia.org/wiki/Luhn_algorithm

Distribution of Payment Errors

• 20 – 25 % of payment requests are failed

• Roughly 1/3 of those failed payment requests are caused by “insufficient funds– not enough limit” (33 – 38 %)

• Other Payment Errors:

o General declined (15 – 18 %)

o Invalid expire year or month (10 – 12 %)

o Invalid CVV / CVC (2 – 3 %)

o 3DS not supported by card / bank

o Card does not support installment

o Can not proceed, card is not allowed to internet payments

o Technical problems, …


Error Messages to Display

17

• Your card number is not valid, …

• Your expire year and month is not valid, …

• Your CVV / CVC2 is not valid, …

• Your card does not support installment …

• You can not make installment payments with debit cards, …

• Your card limit is below the payment amount, …


Major Questions

• What is your Basket Conversion Rate (Google Analytics Funnel Visualization) ?

• What is your checkout page Payment Success Rate?

• What is your Lost Turnover ?

• What are the Payment Errors that you get ?

• Do you have Proactive Monitoring to handle POS or system downtime ?

• Do you know your customers’ Payment Behaviour ?


Dashboard


Live Payments Stream


Payment Volumes


Payments Distribution


Payment Errors


Proactive Monitoring


Thanks

25

@hakanerdogan

[email protected]

http://www.odemesistemleri.org

@odemesistemleri

@iyzico_com


Presentations & Public Speaking

Conversion Optimization with Realtime Payment Analytics - 2014-11-19