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Switching finance options and choosing the right partner can be a great way of increasing online sales and conversion rates. To help one of our clients achieve this, we built a bespoke finance integration into Shopify which delivered on our clients’ specific requirements as well as a user journey focused on simplicity for their customers.
Comparing the month prior to this going live and a month of data with the new integration, we were delighted to see a significant uplift.
KEY OUTCOMES
- 14.37% increase in online finance applications
- 8.47 % increase in sales
- 19.82 % increase in AOV
- 31.4 % increase in Revenue
- 1% increase in Conversion Rate
To deliver this project we implemented a custom script into Shopify which sent data via a JSON API to custom middleware that we developed to bridge the web store with the DEKO platform. Finally DEKO returns data to the Middleware which then pushes the return data back via JSON API to Shopify.
DEKO is a trading name of Pay4Later Limited who pride themselves on their ability to connects the dots between merchants, consumers, and lenders.
DEKO Finance Integration
Total applications: 191
accepted: 41
acceptance rate: 21%
Previous integration partner
Total applications: 167
accepted: 29
acceptance rate: 17%
In conclusion there has been a 4% increase in acceptance rates over a 30-day period and a greater volume of applications. The conversion rate on applications increased, and the acceptance rates also. A significant increase in Average Order Value by 19% which contributed to the sales increase.
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