BNPL - Slide Deck in Full
Introduction:
Slide Action: None
Talk Track:
Buy now, pay later platforms are taking eCommerce by storm. While Gen Z took to adopting this the fastest, the rest of our audience is catching up with consumers ages 35 and under now making up over half of all US BNPL users. Looking at this year and beyond, the addition of this to our checkout can be a huge win.
Where BNPL Matters:
Slide Action: May shift industry call outs to best suit brand we're speaking to.
Talk Track:
We're seeing across eCommerce that Fashion, Tech, Home Goods, and Beauty are driving the highest volume of purchases using a buy now, pay later option. Given we're within the [insert industry] the expectation to have at least one of these options is only going to increase with time. Not fitting that expectation can be causing us to lose out on sales from customers who are trying to make their dollars go further this year by splitting their payments.
What Implementing BNPL Can Mean For Us:
Slide Action: Add brand name. Add branded image if applicable.
Talk Track:
Aside from knowing buy now, pay later is trending well in the industry, it can also offer massive benefits to [insert brand]. Based on the impact we've seen across clients, we can expect to see an increase in average order value as well as a boost in conversion.
[If this seems like a concern to your client:] One common concern we've gotten is what happens if my customer doesn't make a payment. The good news is that as the merchant, we don't take the fault here. The BNPL service we choose to go with takes responsibility for making sure the payment is given to us in full.
BNPL's Impact on Q4:
Slide Action: None.
Talk Track:
As we near Q4, buy now, pay later is a handy tool for consumers with tighter budgets wanting to still make their holiday purchases. Last year, orders placed with these options rose 85% from Thanksgiving to Cyber Monday WoW. With inflation still present and impacting consumers that offering these solutions can make a positive impact not just on our sales but on their trust & loyalty with us.
Knowing this, we want to make sure to build awareness around our payment options ahead of the holiday ad saturation which can be done through testing ad creative approaches that highlight our payment service partners in Q3 through early November.
Launching BNPL to Our Customer:
Slide Action: None.
Talk Track:
The most important thing here aside from having the options available on our website is making it known to our customer. We can drive more sales with a fleshed out launch strategy. We recommend updating the website with a banner and call outs to the BNPL payment options on PDPs and the homepage as well as additional marketing through email, SMS, and ads.
Is this addition something you foresee your team being able to tackle?
[If yes, help create a timeline for this rollout and find where our team can provide additional support through our marketing channels in service]
[If no, chat through scope options to support & make this happen]
Which BNPL Should We Offer:
Slide Action: None.
Talk Track:
Of the 3 biggest players in the space, Klarna and Afterpay boast the highest amount of users and the highest expected growth rates in 2023. While some brands choose to only feature 1, this can block users who may already be partial to another option. We recommend giving your customer more options by featuring at least 2, Klarna and Afterpay.