Boosted USA provides high-quality electric scooters and skateboards to consumers around the globe. Boosted products are premium, boasting next-level performance with extended battery life and extreme reliability.
“Boosted empowers people everywhere to commute across their cities, campuses, and communities in ways that were never before possible. Boosted is solving one of the biggest problems people face each day: transportation.”
Just like any other premium product, Boosted electric scooters, skateboards, and longboards are offered at a premium price. Fortunately, Boosted offers financing options to help customers obtain the product of their dreams. Are customers still wiping out from sticker shock and a lack of financing visibility? We could test that.
The Problem: Financing Options Aren’t Showcased Until the Last Step of the Checkout Process
Sticker shock is a common phenomenon for consumers. They could be totally in love with a product, but once they see the price, they cut and run. Although Boosted products are some of the best in their niche, the price may seem unaffordable to some.
Boosted offers a great financing option through Klarna that enables monthly payments. Unfortunately, this offer isn’t showcased until the last step of the checkout process—which many customers may never get to.
It’s possible that the failure to show financing earlier in the customer journey could result in a loss of conversions and potential sales.
The Control
Our Hypothesis: Highlighting Financing Earlier Will Increase Conversions
Financing options in the e-commerce space have become an effective way for brands with higher ticket items to become more accessible to more customers. Financing also enables brands to take advantage of increased order value, revenue and conversion rates.
A Big Commerce study found that average order size increases by 15% among businesses that offer consumer credit and 93% of first-time consumer credit users say they would use consumer credit again. Plus, 30% of shoppers using consumer credit said they wouldn’t have purchased at all if it weren’t for the six-month financing offered.
The Potential Fix: Add Klarna to the Product Display Page
We would add a simple Klarna image and some short copy to the product display page to highlight the financing option earlier in the customer journey.
We hypothesize that this change would help alleviate price friction or affordability concerns, boosting conversions and sales for Boosted.
The Variation
As you can see in the variation, the Klarna option is now clearly visible next to the price of the product. This simple change could be all that’s needed to improve Boosted’s bottom line.
What Can Cro Metrics Test for You?
What’s keeping your website visitors from following through on their purchases? If you don’t have an answer to that question, we can help. To learn more about our experimentation programs, send us a message.