Use these Splitit merchant best practices to reap the rewards of making card-based installment payments visible and accessible.
“Repetition makes reputation and reputation makes customers.” – Elizabeth Arden
Repetition is a simple but effective way to deliver your message. It’s a persuasive tool in brand storytelling that has a strong psychological impact. As we ride out this pandemic together, it’s important to let your shoppers know that you’ve invested in a way to help them get what they need and even splurge on what they want.
As a Splitit merchant (or soon-to-be), the payment options you offer is part of your brand’s story. You’ve done the hard work to establish who you are and what you offer. We’ve done the hard work to help your shoppers get your goods home faster, smarter and with less stress.
In this post, I’ll share a roundup of best practices to showcase Splitit on your website. Then, I’ll showcase the success of Splitit merchants who put some of these practices in place.
This is a chance to get an over-the-shoulder look at exactly what’s working as they market Splitit’s card-based installment payment solution.
7 Best Practices for Splitit Marketing
Last month, we shared best practices to market Splitit on your ecommerce storefront. You can read the whole post here: Best Practices to Showcase Splitit On Your Website
Here is a quick recap:
- Mention Splitit in your PPC ads or meta description
- Feature Splitit on your homepage
- Use a Splitit pop-up in strategic places
- Show Splitit on your product pages
- Add Splitit to the shopping cart
- Show Splitit as an option at checkout
- Add a Learn More About Splitit page to your site
Using these suggestions helps build the message that shoppers have options when they shop with you. And, with the financial hardships many have endured with COVID-19, paying over time without added interest, fees, or an application process is a welcome choice.
In the next section, I’ll share real-life data about three Splitit merchants who grew their business using these strategies.
Splitit Merchant Stories and Case Studies
Throughout this pandemic, we’ve seen ecommerce grow at warp speed. As shutdowns occurred across the globe, people turned to ecommerce to fulfill basic needs such as food and hygiene products. In June of 2020, shoppers made nearly 22 billion site visits to retail stores, globally—an increase of about 6 million visits since last January.
The comfort level with shopping online is expected to keep growing. The continued threat of infection keeps driving shoppers online to reduce contact with large groups.
It’s a great time to position your online store as a trusted resource and highlight card-based installment payment technology like Splitit. With an option like Splitit, shoppers can use an existing Visa or Mastercard to pay for goods and services over time without added interest, fees, or applications.
Let’s dive into how three stores are sharing Splitit with shoppers.
Exxentric
Exxentric, founded in 2011, is a creator of flywheel training devices used for building strength, enhancing physical performance, getting fit, and rehabilitation.
The company saw a 26% increase in sales within three months of offering Splitit as well as a 29% rise in average order value (AOV).
They achieved this by working with Splitit, using Splitit brand assets, and making the card-based installment option visible on the store website and on social media.
Here’s how they market Splitit:
- Homepage—They use phrases like “pay smaller” and “pay monthly” prominently with a button to learn more. It’s the first thing you notice upon entering their site. Splitit is shown on the footer with other secure payment options. This gives shoppers a succinct view of their choices.
- Product pages—On each product page, the Splitit option is shown near the add to cart button. There is a breakdown of payments and how much the shopper would pay per month along with a question icon that opens to a pop-up explaining how Splitit works.
- Shopping cart—Splitit is shown as an alternative to paying in full and gives the shopper an idea of how much they can expect to pay per month, depending on the terms they choose.
- Checkout—Splitit is listed as the first payment option and shoppers can select it easily.
- Learn More About Splitit pop-up—Exxentric uses a question mark icon on product pages, in the shopping cart and at checkout. When shoppers click it, a pop-up explains how Splitit works.
- Social media—On Exxentric’s Instagram, they use an Instagram highlight to feature Splitit. They also use a Splitit hashtag (#splitit) and other relevant hashtags to promote the buy now pay later installment plan. They also show Splitit on product posts. Additionally, they link to the Splitit information page from Exxentric Facebook posts.
Read the Exxentric success story to learn more.
Visit Exxentric and take a tour of the site to see how they display Splitit.
instasmile
instasmile creates custom clip-on veneers, offering a quick affordable solution for people who want a smile makeover without intense, expensive dental work.
After offering Splitit, they noticed a 25% sales increase and a 10% rise in AOV. What’s more? Cart abandonment decreased by 20%.
Prior to partnering with Splitit, instasmile was offering its own installment-based solution. Thanks to working with Splitit, they were able to offload the risk of maintaining their installment software, retain more cash flow, and give their customers a flexible, easy-to-use payment alternative.
Here is how instasmile shares Splitit:
- Homepage—There is a phrase “spread the cost” as a menu item on the homepage that links to a page explaining Splitit, as well as other installment payment options. There is also a section on the homepage that invites shoppers to learn how they can use a payment plan. Finally, the footer includes a Splitit logo.
- Product pages—The phrase “spread the cost” appears on product pages and links to Splitit information and other installment payment alternatives.
- Checkout—Splitit is the first option under a “spread the cost” section in the checkout area. The repetition of that phrase helps the shopper recognize the installment payment options they’ve previously seen while browsing on the site.
Read the instasmile success story to learn more.
Visit instasmile to see how they display Splitit.
Omnipemf
Founded in 2016, Omnipemf manufactures devices that use pulsed electromagnetic fields (PEMF) to increase performance, improve sleep, and cope with chronic pain.
After adding Splitit as their card-based installment provider, they realized an 88% growth in revenue overall. Cart abandonment also dropped by 17%. Sales are up, as is AOV and conversion rates.
Here’s how Omnipemf lets shoppers know about Splitit:
- Homepage—Omnipemf has an installments menu on the homepage that links to an information page about Splitit. There is also a banner that advertises “split payment options.” As you scroll the homepage, there is a section titled: Pay with installments. The section gives the shopper an idea of how much they can expect to pay using an installment plan.
- Product pages—The product pages feature a banner encouraging shoppers to buy now, pay later with Splitit.
- Checkout—Splitit is listed as a payment option at checkout. If the shopper selects it, extra information appears, explaining how it works and what to expect.
- Social media—They use an ongoing Facebook ad to advertise a product and mention an option to split payments.
Read the Omnipemf success story to learn more.
Visit Omnipemf to take a tour of the site layout to see how they advertise Splitit.
Bottom Line
When you offer Splitit, you give shoppers a choice of how to pay for your products. And while there are many installment payment solutions to choose from, Splitit is the only card-based installment option that does not require a credit check or application.
These days, simple and easy choices are king. Splitit gets rave reviews about its simplicity. It allows people to get what they need quickly without jumping through hoops.
If you are a Splitit partner, we hope these tips and success stories will help you market this payment solution on your site. If you are still thinking about it, we invite you to read all of our success stories to learn why businesses are locking arms with us. Contact us when you are ready to expand.