ChangeUp CEO Bob Soderstrom recently went live on LinkedIn with PopSockets Founder & CEO David Barnett to give viewers a look at how ChangeUp’s e-commerce donation technology not only adds the element of social good to PopSockets’ wildly popular brand, but also helps drive sales in the process.
Here are the three biggest takeaways from the webinar:
1. Brand vs. Bounce
It’s normal for any e-commerce brand, even a highly successful one, to have higher-than-desired abandonment or “bounce” rates at checkout. For all the time and resources that you spend to get people to your website, seeing them leave right at that split second before making a purchase can be frustrating. Adding a donate-at-checkout option can help fight the bounce with a stronger sense of brand.
“Part of our job is not just to help tell a brand’s story from a corporate social responsibility (CSR) standpoint, but also to help reduce bounce rates,” Soderstrom said. “One way we can do that is by helping people feel good about their purchases.”
Barnett agreed that customer engagement rises both when donate-at-checkout is present and when the charity options change, a trend that ChangeUp calls…
2. The Happy Bump
Soderstrom shared a presentation slide with eye-opening numbers illustrating the impact that micro-donations can have on a brand’s bottom line. In round numbers of 100,000 monthly transactions with average cart value of $50, a 1/10 of 1% increase in monthly conversions generates $5,000 in monthly revenue lift. If the conversion rate increases to 5/10 of 1%, the monthly revenue lift is $25,000 . The “happy bump” of donating to a good cause during checkout leads many brands to see $60k to $300k revenue increases annually when they implement ChangeUp’s technology.
3. Proven Best Practices
There are some simple things you can do to maximize the inherent benefits of adding micro-donations to your website. In the webinar, Soderstrom explained that including the logo of a charity at checkout often yields an immediate increase in conversions. Customers also appreciate seeing several options for charities to choose from. And finally, allowing customers to “supersize” their donations can help increase conversions.
These are just a few of the insights from ChangeUp’s LinkedIn Live session with PopSockets. Watch the full 30-minute webinar to see PopSockets’ specific and scaled successes with ChangeUp’s technology, amounting to over $151,000 raised and 76 charities supported through 311,000-plus micro-donations. Barnett himself gives a compelling and much-appreciated pitch for ChangeUp at the end! Ready to boost sales through social good and micro-donations? Schedule a demo with ChangeUp today!