Optimizing your checkout page for increased conversion rates can be a difficult task for many brands. Statistics show that shopping cart abandonment is on the rise for a variety of reasons, from expensive shipping to being forced to create an account. With social login, brands can increase conversion rates by providing customers with a simpler option to login and make their purchase more quickly. New data shows that more and more customers are looking to login with their Facebook account over other social networking profiles.
Social Login: The Competition
According to a study from Gigya, Facebook is dominating social logins with a 51% majority. However, Google is beginning to catch up with 26% of social logins. Facebook’s share is actually down from 60-62% in 2011. Yahoo is also a competitor with 18%, and Twitter and LinkedIn trail behind at 4% and 1%, respectively. On mobile, Facebook captured even more social logins with 66% compared to Google’s 20%. Twitter rose above Yahoo on mobile at 9% compared to 4%.
By industry, Facebook captured the most social logins for education/non-profit (81%) and ecommerce (74%). Facebook actually led the pack across industries: consumer brands (61%), travel/hospitality (50%), and media/publishing (44%). In comparison, Google+ gained 29% in both media/publishing and travel/hospitality, 22% in consumer brands, and 17% in ecommerce and education/non-profit. Yahoo also did quite well, capturing 22% of social logins for media/publishing and 13% for travel/hospitality.
The CEO of Gigya, Patrick Slayer, believes that customers like using social login across the web because it is more convenient than creating new accounts on each website that they visit. As studies have shown, convenience on the checkout page is crucial for increasing conversion rates. Shopping cart abandonment has been increasing since 2008, and it accounts for a total brand loss of $18 billion per year. There are many reasons for shopping cart abandonment, with high shipping costs (44%) and not being ready to purchase (41%) ranking at the top.
For 14% of customers, the problem involved wanting to create an account before purchase, and for 11%, the process of checking out was too complicated. As these numbers show, websites that force consumers to go through a complicated registration process before making a purchase (for example, Etsy) are much more likely to lose customers at the checkout stage. With social logins, brands eliminate the extra step and provide customers with a simplified checkout process, optimizing the checkout page for a higher conversion rate.
How has social login helped your brand with conversion optimization?
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