WooCommerce Purchase on Account Solutions Adding Purchase on Account to Your WooCommerce About 1 in 10 people purchasing online abandon their cart during the checkout process. [1] Studies also show that 58.6 percent of all consumers have abandoned their carts when shopping online. [2] That's an unacceptable statistic for B2B organizations that stand to lose a great deal of revenue for a large order of products, components, or supplies. The company has already done the heavy lifting—attracting prospects, keeping them onsite long enough to make a favorable buying decision, and guiding them to the checkout process. One effective way to reduce the churn is to offer buyers credit to purchase on terms or “purchase on account.” Terms for WordPress Sites Unfortunately, WooCommerce wasn't originally designed for B2B, so it takes some adjustments to build a responsive and intuitive platform. Customer data is siloed in the WordPress system. That's why plugins and integrations are essential to building a responsive, information-sharing platform. WooCommerce One Page Checkout offers system designers many built-in templates. It's easy to create custom landing pages for wholesale customers, special events, special customers, and seasonal promotions. One Page Checkout creates a page that displays product-checkout information and checkout forms in one place, which makes it easier for wholesalers to register or apply for credit. The plugin makes it possible to display special products when users are ready to order. Wholesalers are subject to different terms, so it's important to cover these conditions. The first step to building a dynamic wholesale eCommerce platform using WooCommerce integration is to create a "Terms and Conditions" page. This can be created normally by using WordPress. Terms and Conditions Some of the common issues to be addressed in terms and conditions include: Pricing policies Whether there are minimum or maximum quantities Shipping alternatives and costs and whether rush orders are available Applying for a credit account Payment methods Reordering instructions and how to set recurring orders Exclusions and limitations WooCommerce HIPAA compliance, if legally required Application Form WordPress makes it easy to use Ninja Forms and Caldera Forms, which are free, and Gravity Forms, which offers many benefits to B2B wholesalers. It's important to create a WordPress user role for each user who submits a form. That will help to speed up approvals of both wholesale accounts and credit applications. Using a WooCommerce Plugin for Wholesale Sales Integrated systems generate many benefits during the checkout process to cut abandonment rates. Offering customers the ability to purchase on account is one of the strongest incentives a company can offer a reluctant buyer. One smart way to differentiate the process of selling to wholesalers and consumers in WooCommerce is to add a plugin that creates a WooCommerce integration B2B wholesale system. Administrators can create a wholesale role or wholesale group. The wholesale role is easier to code and allows full access to all WooCommerce extensions. That allows integrating extensions like WooCommerce Dynamic Pricing, another great tool for reducing churn rates. This extension allows companies to offer incentives and price discounts based on the quantities ordered. The Role Based Method extension offers the ability to purchase on terms or purchase NET terms. It's easy to expand payment methods and shipping alternatives using this convenient plugin. Companies with retail, wholesale, and/or marketplace departments can choose to provide invoices only to users categorized in wholesale roles or groups. It's easy to disallow free shipping to wholesalers and multiple shipping methods using global carriers The following extensions can help to build a robust wholesale system that limits cart abandonment and automates the self-service B2B process: [3] One Page Checkout Dynamic Pricing Catalog Visibility Options Role Based Methods Min/Max Quantities User Approve Offering Customers the Ability to Purchase on Terms or Purchase NET Terms The User Approve plugin greatly simplifies applying for credit. The plugin automatically sets new user accounts to "pending" until they are approved by a credit specialist. Creating a credit application form for wholesale customers on the website and tying it to user registration is the first step. That won't allow time for approval before customers can receive wholesale prices, so the User Approve plugin is necessary. The User Approve feature provides some suggestions on how to code so that retail buyers with products ready to check out are automatically approved while holding new wholesale accounts that are contingent on credit approval. integration Cuts Abandonment Rates It's easy to integrate all types of plugins into a robust and integrated API layer. An integrated platform—regardless of the checkout system—automates many processes and improves customer experiences. That's especially important at checkout time when confusion, a complex ordering process, and unknown information can derail the sale. Offering your B2B customers an automated process to apply for credit is one of the strongest strategies to increase sales and cut abandonment rates. Give Clarity a call to discuss your WooCommerce custom project. References: [1] WooCommerce.com: WooCommerce One Page Checkout https://woocommerce.com/products/woocommerce-one-page-checkout/ [2] Baymard.com: 40 Cart Abandonment Rate Statistics - Cart & Checkout https://baymard.com/lists/cart-abandonment-rate [3] Sellwithwp.com: How to Create a WooCommerce Wholesale System https://www.sellwithwp.com/create-woocommerce-wholesale/