How does Monk's post checkout offer work? What are the best practices?
Post checkout upsell/cross sell offers are a must for every online store. These are offers that show up on the order confirmation page after your customer has completed their purchase and are on their way to the thank you page. Since these offers show up after the purchase is completed, it has no intrusive or negative impact on your store's conversion rate or user experience & also gives you a chance to boost your AOV by offering relevant products at lucrative discounts.
Setting up a high converting post checkout offer via Monk is a 10 minute, one-time effort and can help you boost your AOVs by up to 10% instantly.
How it works
The post checkout offer powered by Monk shows up on the order confirmation page - just before the thank you page. You can completely customize this offer to suit your store's theme & design. Post checkout offers are particularly effective because they work with just a single click. Once the customer clicks on "Grab this deal" the offered product (here: a pair of socks) gets added automatically to the order that was just placed and the same payment method gets billed. The buyer does not have to go through the buying journey again. Due to the one click, frictionless nature of this offer - it tends to be highly effective in boosting AOV with take rates as high as 20% in some cases.
1. The single-click post checkout offers only work when the initial purchase was made using a credit card, PayPal Express or ShopPay (credit card). For all other payment methods, auto-charging the payment method is not possible and hence this offer won't show up. These offers will also not work in countries where 3DS/OTP verification is required for every credit card transaction.
2. The original purchase will have it's fulfillment set on hold until the offer is either accepted or declined by the customer. If neither of these take place, the order will be automatically released from hold in 30 minutes.
1. Relevance is king
The single biggest determinant of a post checkout upsell/cross sell offer's impact on your AOV is the relevance of the offer that you've set-up. Relevance refers to how naturally the offered product fits with the primary products that were just purchased. Example: offering shoe polish or a pair of socks to someone who just purchased a pair of shoes or offering a hoodie at 25% off to someone who just purchased a pair of joggers.
2. Keep it simple
Post checkout offers are spur of the decision moments - make sure to keep it simple and offer just 1 product and make it extremely easy for your buyers to make a decision. Providing too many offers or options just might backfire and result in a reduction in take rates.
3. Keep it affordable
Post checkout offers aren't meant to sell a whole new product to your customers but to rather incrementally add extra items to their cart. Try to offer a lucrative discount, wherever possible, and ensure that the final value of the whole order, after adding the offered product, does not increase by more than 20-40% of the initial value.
If you face any issues or need any assistance in setting