6 reasons your business needs a 1-click checkout ??
If there’s one company we all know the name of, it’s Amazon. Hoards of Amazon trucks and delivery vans sprinkle the streets, 200 million of us subscribe to Prime Video globally, and we either own or know someone that owns an Alexa.
Back in 1999 though, when Amazon was a humble online book seller, they did something groundbreaking that changed the course of e-commerce as we know it. The 1-click checkout.
The idea of entering your billing, shipping, and payment information just once to buy future orders was completely unheard of. Now of course, it’s difficult to imagine the world of e-commerce without it.
For B2B though, it’s a different story. What we all think of as second nature in B2C is far more elusive in B2B. Understandably, that’s because B2B transactions are far more complex . More stakeholders are involved, purchase amounts are higher, and the sales cycle is longer in general.
There’re many things you could do to improve your checkout experience to improve those B2B sales like:
But what could a 1-click checkout do for your business, especially if you offer trade credit ?
In this week’s edition of the Two Cents Newsletter, we’ll be covering 7 reasons your business needs a 1-click checkout and how you can use Two to make that happen!
6 reasons your business needs a 1-click checkout
1. Speed and Convenience ??
The most immediate benefit of a 1-click checkout for your customers is speed and convenience. Without it, an existing buyer needs to apply for trade credit every time they checkout.?
But with a 1-click checkout, you can offer your business customers a simple and fast way to checkout on net terms. This is useful across a range of industries but particularly in wholesale , for example.?
Restaurants are likely to purchase multiple times on trade credit throughout the month to top up their inventory. With a regular B2B checkout though, they need to run through the same ID-verification process every time they order.??
But using a solution like the Two Trade Account allows customers to purchase what they need using a single click. This solution is able to identify an onboarded customer when the order is placed and trust previous verification.?
2. Increased Sales and Customer Retention ??
Another great reason you need a 1-click checkout is to increase those sales and keep your customers. By reducing friction and eliminating barriers to purchase, you can win over more customers and keep them coming back for more.
In fact, users of Two’s Trade Account see a 18x increase in retention and 11x more orders per buyer!
3. Eliminate Abandoned Carts ??
Moving on to the fateful cart abandonment dilemma…?
Cart abandonment is a common headache for many businesses. Customers often change their minds or get frustrated with lengthy checkout processes, leading them to abandon their carts. A 1-click checkout greatly reduces the risk of abandoned carts, translating into higher completion rates and more revenue for your business.
4. Improved Customer Satisfaction ?
Next up, we have the overall satisfaction of your business customers.?
A smooth and hassle-free buying experience fosters positive feelings towards your brand. A 1-click checkout shows your customers that you value their time and strive to make their journey with your business as pleasant as possible, resulting in increased customer satisfaction and loyalty.
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5. Increased Efficiency and Reduced Administrative Burden ??
The beauty of the 1-click checkout extends beyond customer satisfaction. For your business, it means streamlined processes and reduced administrative burden. By automating the checkout process, you can free up valuable time and resources, allowing your team to focus on strategic initiatives and growth.
As a side note, Two automatically reconciles payments and handles all admin when you order trade credit through us.???
6. Stay Ahead of the Competition ??
And of course, you can’t forget how a 1-click checkout separates you from your competition.
The chances are, your competitors aren’t offering this. Innovation is key to staying ahead in the competitive business landscape. By adopting the 1-click checkout, you showcase your commitment to providing the best possible buying experience for your customers. This competitive advantage can set you apart from your rivals and attract more businesses to your platform.
The Two Trade Account - 1-click purchasing, fast customer onboarding, grouped invoicing...
So, if you weren’t convinced by what a 1-click B2B checkout can do for your business, you should be now! But you might be wondering how you get started? How do you implement something like this and who’s seen success already?
One of Two's B2B payment solutions, The Two Trade Account , is designed for sellers with recurring customers.
This solution allows you to onboard business buyers with a fully-funded trade account in just 30 seconds. Integrated directly into your existing account sign up flow, Two takes care of the manual credit, ID, and KYC-checks that can take days. Two’s API pulls customer business information through instantly for a super smooth sign up experience with no wasted time.?
And with an industry leading credit approval rating of 90%, you never have to turn another customer away again.
Using the Trade Account, you can:
But how does the Two Trade Account actually work? Checkout our business buyer flow below!
The truth is, a 1-click checkout is only one of the features from the Trade Account.
Loaded with other customer-centric features like transparent credit limits, grouped invoices, and simple repayment plans, the Two Trade Account is built for loyalty. In fact, merchants who offer the Two Trade Account see 18x higher customer retention than with a guest checkout!
But let's take a look at the Trade Account in action...
REKKI, a happy customer of Two, connects thousands of restaurants across the UK and USA with local suppliers through its unique?B2B marketplace app .
Using Two, REKKI was able to reduce their customer invoices from 13 to 1 a month!
Customer onboarding is also super simple! Customers simply create an account on your website as they usually would. Two integrates directly to your customer sign up flow and performs an instant credit and ID check to provide them with a fully funded trade account in seconds.
Make sure you check out the video below for more details!
To learn more about how about the Trade Account can help you with everything from grouped invoices and faster customer onboarding, to providing a 1-click checkout and boosted sales, speak to one of our experts !