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A/B Testing Idea #23 - Save customers' card details and automate payments
Description
It is better to optimise the payment process as much as possible. Studies have shown that certain forms of payment 'hurt' more than others - the more observable, tangible or transparent the payment is, the less we feel the pleasure of our purchase.
Therefore, offer customers automatic renewals for regular subscriptions so they don't need to enter their card details for each transaction. This also applies to eCommerce: store users card details so they can make purchases without entering their card details each time. This will remove the "pain of paying" and mean your users are likely to be happier with their purchase and more likely to renew payment.
Inspired by Nick Kolenda
Principles
- Psychology of Consumption (Gourville, 2002)
- Pain of Paying (Prelec & Loewenstein, 1998)
The Research
Psychology of Consumption
The Psychology of Consumption explores the fact that when someone actually makes regular use of the product or service they’ve bought then they’re much more likely to make a repeat purchase.
Pain of Paying
The Pain of Paying explains how the act of paying reduces the pleasure of our purchase and that this “pain of paying” is affected by both the timing between payment and consumption and by the mode of payment.
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