According to its own website, Affirm, a popular Buy Now, Pay Later (BNPL) service, is all about putting people over fees. Its fee-free option to let users pay over time for purchases, has endeared it to its customers, and rightfully so.
At its core, Affirm gives users the option to pay in either 4 installments or to pay on a month-to-month basis, all with zero fees. Affirm earns money through modest fees that they charge to retailers.
Which then begs the question: Can Affirm be used to increase conversion rates?
The answer, as we discovered, is a resounding YES!
But how exactly does Affirm help you maximize your conversion rates? Let’s take a closer look:
Flexible Payment Options
Like other BNPL programs, Affirm allows users to buy an item now and pay for it over time. The difference is rather than setting a rigid schedule by giving consumers only the option to pay in four monthly payments, for example, Affirm is much more flexible.
Users can opt to pay in four monthly installments, which is a consistently popular choice, or they can choose month to month payments. Affirm even breaks down the payments automatically so consumers will know up front how much they’ll pay across their chosen timeframe. No gimmicks, no surprises, and most importantly, no fees.
Not only does this allow users to more easily be able to afford things that may have been out of their reach when paying the full amount up-front, but offering Affirm as a flexible payment option also helps create an exemplary customer experience. It shows the customer that you value them as a shopper and want to earn their business.
And customers that enjoy a pleasant shopping experience, whether online or in-store, are likely to come back and shop with you again, and again.
Go Where the Users Are
Another way that Affirm breaks the mold when it comes to increasing conversion rates for retailers is that it has planted itself firmly where the users are. Marketing gurus have long since exclaimed that in order to attract the most users, you have to be where the people are.
Affirm has not let that tidbit of advice fall by the wayside. They’ve not only made it easy for retailers to leverage their platform at their point-of-sale, but also online and even by way of a browser add-on for Google Chrome.
The company also offers an app that directly connects shoppers to an online marketplace full of merchants that accept Affirm, so that they can shop with the freedom and peace of mind that BNPL provides.
But although having an easy to use app, a browser extension and other features make it easy for users to sign up with Affirm, what happens once they sign up? Can integrating Affirm maximize conversion rates for retailers as part of the overall shopping process?
That’s where Affirm’s Adaptive Checkout™ comes in.
Adaptive Checkout is Affirm’s unique and proprietary dynamic checkout process that automatically adapts to a customer’s needs when checking out. It not only offers them a variety of payment options but also the ability to pay according to predetermined intervals that you set – from a payment every two weeks all the way up to payments spread across 36 months for larger purchases.
Retailers can also set specific rates from within their catalog and Affirm will automatically update to reflect the more relevant pricing, thereby driving conversions and creating a unique experience for every customer.
Promotions Customers Love
Beyond Adaptive Checkout, Affirm’s technology also integrates with instant messaging, allowing retailers to add a dynamic layer that always reflects the latest prices. Add to this the ability for sellers to offer tempting promotions like 0% APR, extended payment terms and faster credit approvals mean that you have a financial ally in your pocket that’s dedicated to helping you convert more browsers into buyers.
Affirm Meets Facebook DPA with Waterbucket
Although Affirm has done a great deal to endear itself to its target audience, there still remains a common conundrum for retailers, particularly those using Shopify who want to display their Affirm BNPL status on their images.
Traditionally, you’d have to download your entire product feed, images and all, and then painstakingly go through each and every image, updating it with relevant terms and pricing. Then rinse and repeat every time you need to make a change.
It was long, grueling and tedious work which caused many retailers to shy away from offering BNPL services simply because of the sheer upkeep needed to keep pricing relevant.
Waterbucket changes all of that. In just three simple steps, you can upload your feed and get beautiful graphic overlays that are eye-catching and match your unique brand and style (with more templates every month)
Plus, Waterbucket works perfectly with Affirm and many other BNPL providers, giving you a simple, seamless way to show customers how easy it can be to get the products they love from your store with payment arrangements that fit their needs.
The best part is, you can try Waterbucket with Affirm free or charge for the next 7 days. If you don’t see at least a 20% increase in your conversion rate as a result of using Waterbucket, we’ll extend your free trial until you do! That’s how confident we are that Waterbucket can work wonders with Affirm to maximize your conversion rates!
Try it now absolutely risk free!