A customer clicks on your marketing campaign and lands on your product page. He/She goes through the entire offerings of the store and makes a final choice. However, when it is time to make the payment and complete the transaction, the customer closes the page abruptly and leaves the website!
And that adds one more session to the 68% cart abandonment rate (Baymard Institute) that every marketer and eCommerce owner goes through. But, what could have gone wrong? Why did the customer who spent such long time browsing your wares and also made a choice decided in the last minute to step back from purchasing?
There are plenty of reasons that contribute to cart abandonment. Trust issues and security concerns count among the top reasons. Even in the past, several global eCommerce brands like Target, eBay, Kmart, etc. have been riddled by security scams that their customers’ confidence in online shopping.
Given that scenario, how can an online store build trust in its customers and thereby reduce its cart abandonment rates and improve its conversion rates.
The Permanent Solution: Trust Symbols
A proven way to show customers that your store is secured and safe to transact with is by displaying trust symbols. Also referred to as trust logos or site seals they are helpful in improving conversions by 3X as a study conducted by ConversionXLInstitute found out.
Trust symbols can be purchased from third-party security agencies or Certificate Authorities. If you are buying an EV SSL certificate from a reputed brand, a trust logo is bound to come with it as a bundle. On the other hand, you can always buy it separately and incorporate it into your checkout page or log in page to instill confidence in the minds of customers.
There are several types of trust symbols in use today. The most commonly seen and used trust symbols in the eCommerce industry include:
We’ll discuss each of these trust symbols in detail and why your online store needs them to convince and convert customers.
Has your online store/business worked with some giant brands? Well, flaunt them to all. Research has shown that customers and prospective leads trust those businesses that have a well-decked display of past customers.
It proves that the business is trusted by businesses from all over the world. Even if your business does not have a globe-spanning client portfolio to boast about, make sure you are at least showing off the clients you are worked with. This would help build trust.
But, make sure you obtain a consent for your clients and customers before placing their logos. You might even want to use a black and white or copyright free logo to avoid patent infringements.
Security symbols are typically associated with SSL certificate and HTTPS encryption. They show that the particular page in which they are displayed is secured by a TLS encryption.
Some of the common security symbols seen all over the Internet include: