Amazon Payments
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This document discusses how merchants can benefit from allowing customers to login and pay with their Amazon accounts when shopping on other websites. It notes that the average checkout process takes too long and causes 70% of online shopping carts to be abandoned. By integrating "Login with Amazon", merchants can see benefits like higher conversion rates of up to 90% by removing friction from the checkout process. It also increases order values and customer loyalty by giving customers a fast, easy and secure checkout experience using their existing Amazon account details and payment methods. Case studies show merchants see increases in conversion rates of 15-34% and reduced abandonment rates when allowing customers to login and pay with Amazon.
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Amazon Payments
- 2. Agenda Introduction The Opportunity Our Value Proposition How Merchants Benefit It Works - Case Studies
- 3. Introduction
- 4. 285mActive global customer accounts 13.5bGlobal monthly page views 61%** UK audience reach Global reach*** Amazon operates websites in 13 countries Monthly UV 19.5m 925K 146.3m 28.2m 28.8m 31.3m 7.4m 13.6m 9.1m 5.0m 25.3m Mobile UV 95.6m 14.1m 18.6m 9.3m 4.9m 7.1m 4.1m *Alexa Top 500 – Shopping - April 2015; ** ComScore, Amazon audience reach (mobile + desktop) –UK/US April 15; ***ComScore, MMX - April 2015 (Monthly UV); Mobile UV – Mobilens – April 2015; Amazon customer accounts, Q1/2015 1st Global Shopping destination 300k TBC * Amazon at a glance
- 5. Source: Forrester study, US Data, Why Amazon Matter Now More than Ever 7/26/2012 The Amazon impact Where online customers begin their product search: 30% 13%Search Engines
- 6. we start with what the customer needs and we work backwards… Our guiding principle Jeff Bezos, CEO Amazon ” “
- 8. Average visit time: 7mins 59s* Sources: *Hitwise average visit time, top 500 shopping sites, between Nov 2013 – Nov 2014 ** Checkout Report Q1 2015: http://www.konversionskraft.de/conversion-optimierung/infografik-checkout-report.html On average it takes 3 minutes and 12 seconds to complete a purchase online The typical checkout process makes up too much of this time Online Shopping Fact: The average checkout has 14.6 data insert fields**
- 9. Sources: Fireclick Index, Top Line Growth, 2012; Blue Research, 2013; Redshift research, 2014 Speed On average it takes 3 minutes and 12 seconds to complete a purchase online Convenience 86% of consumers are bothered by registering on a website Trust 58% say better security measures would encourage online shopping 70% of shoppers abandon their cart
- 10. Purchase completion rates for one retailer
- 11. Purchase completion rates for one retailer
- 12. Purchase completion rates for one retailer
- 13. Purchase completion rates for one retailer
- 14. 70% of baskets abandoned Sources: Fireclick Index, Top Line Growth, 2012; Blue Research, 2013; Redshift research, 2014 Customers don’t want to spend their time in this way The Opportunity
- 15. How often do you use Social Login? Source: Blue Research 2014 Why do you use Social Login? Faster than registering at a site Means one less password to remember Ensures websites are more personalized Some other reason 65% 50% 12% 5% 51% Nearly Every Time: 5% Sometimes: 46% use social login when it is an option Customers don’t want to register new accounts The Opportunity
- 16. Usernames Passwords The average Briton is dealing with 19 accounts! The Opportunity
- 17. Usernames Passwords 53% of consumers state they have more than 5 accounts and passwords* *Source: Janrain data The Opportunity
- 18. 92%of people have abandoned a site because they can‘t remember their account details *Source: Janrain Data
- 21. Simple sign-in to access an easy way to pay
- 22. One username One password One account Address book Digital wallet
- 23. How Does it work
- 25. Customer experience on Magento
- 26. We created a better buying experience For customers Fast, easy, secure Eliminates the hassle of multiple accounts. For merchants Increase conversion Access to our customer base Receive up-to-date customer data Higher spend More customers, more loyalty
- 27. Speedy checkout in a few taps Up to 90% conversion rate in less than 30 seconds Convenient login using Amazon account Customer acquisition & personalisation Seamless mobile experience across all devices Kindle, iOS, Android UK’s most trusted online brand A-to-Z guarantee Optional recurring payments Subscriptions Sources: All Saints, September 2014; UKCSI Best in UK Award, January 2014 Login and Pay with Amazon
- 29. Higher average order value Cart shareIncrease in conversion 15%24%34% Reduced checkout time70% Source: AllSaints, September 2014 Increased conversion
- 36. Thank you
Notes de l'éditeur
- When you consider adding an alternative payment method, your goal is to make it easier for the greatest number of customers to purchase on your site. Looking at the Amazon demographic shows there is no larger group of customers to help you accomplish your goals. Fresh off from US Press briefing: Pay Amazon Customers Since 2013, more Than 23 Million Customers Have Used Their Amazon Account to Make a Purchase on Third-Party Merchant Websites; Talking about global reach, of that 23m number, customers from more than 170 countries have used their Amazon account to make a purchase on Third-Party Merchant Websites Drilling down further - More than 50 percent of Pay with Amazon customers are Prime members 2015 Pay with Amazon Growth Merchants using Pay with Amazon grew more than 200 percent year-over-year Customers using Pay with Amazon grew more than 150 percent year-over-year Pay with Amazon payment volume grew by more than 150 percent year-over-year 2015 Pay with Amazon Business Highlights We launched in the US in 2013, EU in 2014 and Japan in 2015 – you can expect to see more international expansions We partnered with Shopify to serve as a native payment solution in the Shopify commerce platform (Globally) We partnered with PYMNTS.com on a survey and found that twice as many consumers were comfortable using a new online and mobile payment method from Amazon than any other service(US only)
- The customers using Pay with Amazon are product and purchase focused. They have made it to your site in order to buy something directly from you – yet there is a high likelihood they have Amazon credentials
- In this scenario we are focusing on two distinct customers: You as a merchant and customer of Amazon Payments and the end customer buying from you. We want to make the experience as seamless for the end customer as possible and in doing so we are helping you achieve your conversion goals.
- Data entry on the desktop journey is challenging enough, but in the mobile experience, it is a killer.
- Speaking for myself, when I have something I know I am going to buy, very little will stop me completing that purchase. But when I am shopping (say at work), only somewhat committed, finding my card and entering all that data, especially on a site for first time, is a big blocker.
- So lets look at this in more detail. This is an example of the shopping experience of one merchant who works with us. It is a Germany Retailer called BabyArticle and we have observed that it takes the average customer 3 minutes to complete registration, enter the delivery address, enter credit card details and then confirm the payment. More alarming, only two thirds of customers actually complete the purchase. These are customers who have committed to buy but a third walks away. Imagine if one in three people walked away when they got to the till in your supermarket…
- Over half of people consider using social login when it is available as an option and the overwhelming motivation is speed and ease.
- So, let’s talk a bit more about usernames and passwords… Research done in the UK by Cyber Streetwise shows that the average Briton regularly access 19 sites that require username and passwords So if you think of it as a “key”, imagine jangling around nineteen keys and having to pick out the right one for your front door each time
- I’m sure everyone here has been through the challenge of inputting several variations on the same password to try and hit upon the correct combination of numbers, capital letters and symbols. It’s pretty frustrating. As security standards and password conventions have evolved, our task of remembering names and passwords has become more and more difficult. Psychologists say that most humans can store up to five things at once in short term memory. So these security measures are just making things incredibly painful for consumers.
- Well here is the data. Nine out of ten customers just give up when faced with the dreaded password reset. Those 294M Amazon customers already have a Pay with Amazon account since you can simply use your Amazon account to make a purchase – there is no need to create a separate account
- What this all means is that people have two many usernames and passwords to remember, and those passwords are too difficult or retrieve which translates to high abandonment rate.
- Pay with Amazon is a single ecommerce identity. Unlike social sign in, a single ecommerce identity needs to give customers the opportunity to pay for goods and services. Additionally, an ecommerce identity gives users access to their delivery preferences as well as their digital wallet – dozens of safely stored debit and credit cards for them to choose their payment method and authorise the transaction with one click post log in
- One username and one password for one account– tied to any address they have shipped to as well as all of the cards they routinely use – that is Login & Pay with Amazon.
- All Saints Demo
- Route One demo
- We talked earlier about our two customers, the end customer and you as a merchant. Our better buying experience is tailored to the customer by being fast, easy and secure which for you translates into increased conversion. More than that though, you access the Amazon customer base, and grow yours by obtaining relevant customer data.
- Let‘s look a little further at Login & Pay specifically
- We looked just a minute a go at the All Saints side by side which translates into these results.
- Let’s put some hypothetical numbers to these rates, say annual turnover was £5m. Assume a 15% cart share for Pay with Amazon. By increasing conversion from 66% to 82% for the 15% using Pay with Amazon, that would result in a overall boost to revenue of 3.6% and gross increase of £182k.
- Ok, so we have gone through the challenges you face in trying to increase conversion and how Amazon Payments can solve this. We are pretty confident in our solution. So much so that we are willing to let you try it for 3 months without and processing fees. The timing of today’s event is quite good. All you need to do is register for Amazon Payments prior to the 15th, and have it implemented live on site by the 20th of March. I know that Screen Pages is quite familiar with our extension and would be more than happy to help.