January 22, 2021
Selling online is easy and the customer journey is well optimized. But when it comes to subscriptions or rentals, acquiring a product online is a hassle - sometimes it is only possible via quote, reducing conversions, and tempering the customer experience.
That is why we launched a subscription optimized checkout that can do both - rent out and sell products online. With a seamless customer experience.
Normal e-commerce shops are perfect when it comes to selling products but completely overwhelmed with renting out products. Hurdles coming up are recurring payments, credit checks, and an unpleasant customer journey. Often, there is some serious self-development necessary for example to modify existing plugins to make them work for physical goods subscriptions. But the worst part still is, that you have to decide whether you want to use your checkout and your shop for renting out products OR for selling them - as both in the same shop is quite a hassle.
All in all, conventional e-commerce checkouts are not ready for rentals, leaving you with the burden of operating two different web shops, one for selling and one for renting. By sacrificing the combination of both of these, you’re throwing away an up- and cross-sell opportunity that could bring you a leverage of 200%.
you’re throwing away an up- and cross-sell opportunity that could bring you a leverage of 200%.
Plugins can be a legitimate supplement for common web CMS, especially if your system alone does not cover aspects such as automated invoicing of recurring payments properly. Unfortunately, these plugins are generally not fully integrated into the workflow, thus they are not being able to streamline your business processes. Cleaning orders in the backend of your shop and checking due payments are two of the things that can result, both of which you surely do not want to spend your time with.
Renting out physical products via e-commerce is simply a different business model than normal shop systems support. That means, it requires different measures. Circuly makes existing e-commerce shops smart for rentals. And the first step to do so is to create a customer experience that makes rental just as easy and seamless as the customers are used to from 20 years of traditional online shopping.
circuly makes rental just as easy and seamless as the customers are used to from 20 years of traditional online shopping.
Once certain actions and procedures become a habit, they can be considered as a pre-set expectation. This is simply what happened over the past 20 years. When we’re buying something on the web, we expect the complete checkout process to be smooth and easy because we’re used to it - anything lower than that will not satisfy our expectations thus it might negatively affect our willingness to purchase.
Because of this, the benchmark for online rental experiences is not different from traditional e-commerce shopping. For your business, this means that you’ll need to fulfill customer expectations concerning the experience with the same high standards as normal webshops do, with the only difference being the lack of supporting tools and shop system features for rentals.
With the circuly checkout, we support both, renting and buying products at the same time. Using this, your customers will have a flawless and easy online shopping experience that meets their pre-set expectations. A combined checkout for sales and rentals presents us the perfect vehicle to leverage cross- and upsell potential: Tests have shown that by checking out with the rental option for high-value goods, customers are up to 200% more likely to purchase accessories or add additional items to the basket as initially intended.
Tests have shown that by checking out with the rental option for high-value goods, customers are up to 200% more likely to purchase accessories.
The opportunity is obvious: It applies across all segments as none is limited to a single product only. Whether you are renting out bikes and also sell helmets or locks, or renting out smartphones and also sell covers or screen protectors… the list goes on.
So if these insights caught your attention, feel free to reach out to us!
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