When is the right moment to upgrade your Adobe (Magento) Checkout to Bold Checkout?

Checkout is the make or break moment for brands. It's the final step where customers either seal the deal or abandon their carts in frustration – it's also the moment brands capture additional revenue with a personalized experience designed to drive conversion, average order value and lifetime value, or what Bold calls the Checkout Power Trio.

Adobe Commerce (Magento): Power and Flexibility

The Adobe (Magento) Checkout, as part of the broader Magento ecosystem, offers a robust set of features geared towards flexibility and scalability. Here are some highlights of its capabilities:

1. Composable Architecture: Built on Magento's composable architecture, Magento Checkout provides unparalleled flexibility. Merchants can customize every aspect of the checkout process, from form fields to payment methods, to suit their unique business requirements.
2. Multi-Store Support: For merchants operating multiple online stores, Magento Checkout offers native support for managing checkout processes across different storefronts. This centralized control simplifies administration and ensures consistent branding and user experience across all channels.
3. Advanced Reporting and Analytics: Understanding customer behavior is key to optimizing the checkout process. Magento Checkout provides robust reporting and analytics capabilities, enabling merchants to track key metrics, identify pain points, and iterate towards a more efficient and conversion-friendly checkout flow.
4. Third-Party Integrations: As part of the Magento ecosystem, Magento Checkout seamlessly integrates with a vast array of third-party extensions and services. Whether it's payment gateways, shipping providers, or marketing tools, merchants have access to a rich ecosystem of solutions to enhance their checkout experience.

Is it time to upgrade your full checkout or run a parallel checkout?

So, you’re on Adobe (Magento) Checkout  — How quickly can you spin up a checkout tailored to a customer segment? How quickly can you add new payment options? The moment a brand determines their checkout is too rigid, too costly to customize or too error prone is the moment to upgrade.

Staying current with payments

In this fast-paced world of online shopping, brands strive to offer an array of convenient payment methods, like digital wallets, Buy Now Pay Later plans, and expedited payment options, aiming to cater to diverse customer preferences — because more than half of customers abandon their purchases when their preferred payment method isn’t offered. However, they often face a significant challenge when it comes to their existing checkout systems. These systems are not only inflexible and expensive to customize but also carry the potential for critical malfunctions during the checkout process. This situation creates a tangible barrier to delivering an agile, customer-centric payment experience, placing brands at a crossroads where customer expectations meet operational constraints.

Bold has joined forces with PayPal to introduce the PayPal Checkout Flow. It places a strong emphasis on providing a wide array of payment options to meet diverse customer preferences, ultimately reducing the likelihood of cart abandonment, as more than 40% of online shoppers express satisfaction when multiple payment choices are available. Now, brands can efficiently add new payment options supported by the PayPal Complete Payments without disrupting their current checkout systems. The new checkout flow operates as a parallel checkout alongside existing systems and provides access to widely-used payment options including PayLater, PayPal Credit, PayPal Express and Apple Pay.

For businesses that require unique customization and are not yet ready to transition fully to PayPal Complete Payments (PPCP), Bold allows them to maintain their branding and flexibility.

It’s time to get personal

A brand utilizing multiple channels to drive sales is leaving money on the table by not personalizing the checkout experience. A brand’s checkout should vary depending on the channel (email, social media, content, search, etc.), the touchpoint (mobile device, desktop, kiosk) and any other factors that allow for consumer segmentation.

Each of these checkout flows should offer a different, personalized experience designed to drive revenue and retention. Bold has a 3-step process for developing these experience.

1. Choose your interface: Choose the way you want your customer to interact with your checkout from 1-page, 3-page, voice, slide-out and more. If they’re on a mobile device coming from a social ad a 1-page checkout would reduce friction and get them to convert quickly. Are they on a desktop coming from a product search? A 3-page checkout get’s them invested and allows you an extra moment to get the data you need to drive lifetime value from this consumer.
2. Add your experience optimizers: Configure the experience and options you want consumers to have through a customized front-end with upsell, BOPIS, subscriptions, payment options and more. Is their checkout total higher than your AOV or does it have high ticket items? Offer BNPL (Buy Now Pay Later). Do they have a single low ticket item? Offer upsell. Is their item consumable? Offer a subscription.
3. Add your business optimizers: Configure your back-end to optimize for business needs like payment gateways, shipping, fraud, tax and more. Does the consumer’s checkout include a mix of regulated and unregulated items? Split the payment between different payment gateways to get a better rate for your business.
   

Keep your Adobe (Magento) Checkout or upgrade?

When it comes to Bold-hosted Checkout vs. Adobe (Magento) Checkout, there's no one-size-fits-all answer. The choice ultimately depends on the specific needs and priorities of your business. If your business requires customization that is difficult or costly to build within Adobe (Magento) or your business needs an agile checkout to respond to changes in payments or personalize checkout based on channel or campaigns, it may be time to upgrade your checkout.

Bold checkout enhances the Adobe Commerce (Magento) instance in 3 ways:

1. Payment Booster — Retain the entirety of your current checkout experience, and use Bold to add additional payment options to your checkout.
2. Bold-hosted checkout — Replace your current checkout with the proven Bold Checkout three-page checkout experience or condensed one-page checkout experience.
3. Self-hosted checkout — Self-host your checkout for the most control over the user experience. Use the Open Source Checkout Templates, and customize the checkout experience from there.

Adobe Commerce is laser focused on helping brands personalize their entire online experience with content, promotions, recommendations, and site search through AI and machine learning. Don’t get your consumers to the checkout just to let them down. Whether you replace your entire Adobe (Magento) checkout or run a parallel checkout to support your marketing initiatives, now is the time to upgrade.