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What are the best conversion rate optimisation services for the travel industry?

Conversion rate optimisation services can cover a wide variety of measures that a company will take to improve their conversion rate among their website visitors.

There are several angles to take with this, depending on what is causing your customers to drop off. You can inform these decisions by consulting your analytics and website data.


Often, you’ll find the checkout is where these visitors drop off. With almost 70% of carts being abandoned on average, leading to a significant drop in revenue.


However, in the travel industry, the cart abandonment rate is even higher at 81.7%.

Therefore, for the travel and hospitality industries, conversion rate optimisation services should be focused on enhancing the checkout experience, with a view to recovering this lost revenue.

 

How travel and hospitality businesses can improve their checkout experience with split payments


Split payments are an emerging conversion rate optimisation tactic, centered around enhancing the checkout and payments experience.

 With customers expecting more ways to pay than ever before- with 29% of customers leaving the checkout page when a card payment fails- it's crucial you have several payment options.             

          

Multiple payment methods to choose from are great- but, to stand out from your competitors and make your payments process your USP, you'll need to go a step further.


 Split payments help travel and hospitality businesses improve their checkout experience by:


1.     Allowing customers to split payments between multiple cards- overcoming credit limits as a barrier to purchasing higher ticket items.

2.     Enabling groups of customers to split payments between each member, using custom amounts, reducing abandoned checkouts due to insufficient funds or the inconvenience of chasing friends or family for their payments.

3.     Installment payments, where you’re able to spread the cost of your flights or hotels across a period and, once you pay the balance, you receive your booking.


This is an alternative to Buy Now Pay Later- Save Now Pay Later- as you are not taking on any debt but ‘saving up’ for your tickets in monthly installments.          

Split payments are classed as conversion rate optimisation services, as they address and resolve the barriers to conversion that we see in the travel industry especially- as this sector is plagued by abandoned carts at the last minute, as well as failed payments. The travel industry stood to lose £5.45 billion in 2022 due to failed payments alone, so split payments are essential to recover these significant losses.                   

                                 

How do flight installment payments work?


Flight installment payments are an improvement on the current Buy Now Pay Later model that you see so often across eCommerce.

 

Installment payments are seamlessly integrated into checkout, where the merchant and customer enter a payment plan for these flights. Once they pay a deposit, this plan is initiated, and the merchant sets the repayment terms.

 

Customers don’t get their flight tickets until the full balance is paid, meaning they don’t have to take on any debt to save up for their flights. This enhances the checkout experience as customers can reserve their flights at the price they want and pay in manageable installments- all at the click of a button at checkout.

 

This doesn’t just apply to flight installment payments either, in fact, this can be implemented across all high-value travel and hospitality payments- from luxury hotels to trips and activities.

 

Travel and hospitality businesses should stop accepting high abandoned cart rates and constant failed payments- instead, they should use our split payments as their preferred method of abandoned cart recovery to boost revenues and enhance the checkout experience for customers.

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