How to Increase Sales by Removing Friction (Hint: Accept Apple Pay)

Apple Pay

Rubbing two sticks together CAN start a fire with friction, but it’s a lot of work. It takes knowledge patience and physical effort. And if that’s your only choice it’s probably what you would do.

But if you have another choice that’s easier, wouldn’t you use that option instead?

Striking a match or using a lighter is that easier choice. And adding lighter fluid? BOOM! You’ve got nearly instant fire.

And if you REALLY want a fire to do something important — like heat your home — you will probably just turn up the thermostat to tell your furnace to make more fire.

That’s really taking away the friction – both figuratively and literally.

The reality is very few people start fires anymore with the two stick friction method. Because it’s hard.

And because the human brain likes to take the easy way out.

When you own a business it’s smart for you to offer your customers the EASIEST possible way to do everything. From your website being easy to use to your payment systems being simple.

And this tendency to like things easy is EXACTLY why you should accept Apple Pay as an option in your business because it reduces friction and creates a super easy way for your customers to pay.

Apple Pay means that customers can use their phone to pay with a swipe or touch of a button (or just by looking at their screen) – both physically and online. And the payment is attached to a debit or credit card account, so you get paid like normal.

The power of removing friction…

If you’ve ever sold anything online or in the physical world, then you probably know that getting people to part with their hard earned money isn’t easy. And the more friction they feel — the harder you make it — the less likely they are to purchase.

And the easier you make it, the more likely they are to purchase.

Don’t believe me? Then check out what consumer psychologists are saying.

Past research into the transition from cash to credit cards suggests that not only do consumers spend more impulsively when paying is easy, but that they are also willing to pay more.

I don’t know about you, but I like when people pay more impulsively and are willing to pay more. I think that’s pretty exciting. Because it makes it easier for me to earn money in my business.

Now.. back to the data. So you take this data and project it onto an even EASIER payment method and the potential for people selling things with less friction looks amazing.

And the relative painlessness of modern payment systems means those purchasing decisions might be more influenced by implicit attitudes, or “knee jerk judgments,” said Ian Zimmerman, who studies consumer psychology at the University of Missouri.”

Speaking of knee-jerk judgments…

A friend of mine recently told me she spent $20 on buying upgrades for a game on her iPhone and didn’t realize how much she was spending until she looked at the bill.

Even though this isn’t a big sum, I’m pretty sure she didn’t mean to spend $20 in increments of just a few dollars at a time to buy extra lives and boosters.

But she did because it was EASY.  And that’s the power of a payment gateway that just requires a tap or swipe.

How to accept Apple Pay

One of the easiest ways for small business owners with physical locations to accept Apple Pay right now is to use Square. Their newer readers have the wireless technology built in.

If you are online, then ThriveCart is a great way to go. It’s easy to set up and use and integrates seamlessly with Apple Pay. It’s also what we use in our business and I’ve got to say, I love it!

Adding forms of payment to your business may not be the sexiest subject in the world, but making incremental improvements can have a HUGE, HUGE impact on your bottom line.