eCommerce, payments and subscription billing solutions 2Checkout (formerly Avangate) has released its 2018 Software & SaaS Buying Behavior Survey. The survey of almost 1,000 software and SaaS buyers reveals global buyer preferences and industry trends that software merchants can leverage to increase their online sales worldwide.
Online shoppers are paying increased attention to security and merchant reputation and value reliable support across several channels. Vendor reputation is the ‘most important factor’ when buying online, cited by 86% of shoppers globally, reflecting buyers’ preference for honest business, high quality products and a customer-oriented culture.
Reaching a real person is reassuring, no matter where buyers are. This is likely to be important to the CX specialists reading Intelligent Sourcing – in fact difficulty of reaching live support is the biggest concern of 55% of shoppers, followed by lack of trust in unknown vendors. The credibility of product reviews is a blocker for 49% of respondents.
Buyers are used to being in the driver’s seat and want full control over their online purchases. 80% of shoppers prefer manual renewal of their subscriptions, while 78% of respondents mention the ‘ability to change or cancel a subscription at any time’ as very important for the purchase decision.
To satisfy this requirement, merchants need to provide their clients with tools and access to self-service and assisted support in order to manage their subscriptions seamlessly, 24/7. The contact centre industry will need to take this into account as the customer increasingly seeks to self-serve.
This makes voluntary and involuntary churn prevention tools, coupled with advanced subscription management, the recipe for success in connecting to today’s savvy buyers.
“Understanding buyers’ habits and preferences is key to reaching them effectively with the right products and offers and providing the expected support, via their preferred channels,” said Erich Litch, Chief Revenue Officer, 2Checkout. “Our Software & SaaS Buying Behavior Survey delivers insights about when and how buyers prefer to get software, and what are their preferences or concerns when buying online, empowering merchants to make better sales and marketing decisions.”