Leading LendTech company, DivideBuy, has announced the results of its partnership with Simba Sleep. Between May and December 2019, Simba’s orders increased 25 per cent against its previous credit provider.
In order to grow its sales while ensuring the product standard never decreased, Simba allowed consumers to pay in instalments in their own time. However, it found that the conversion rate was low as many customers abandoned their payments in the checkout. Simba had no visuals on why this was happening.
DivideBuy investigated the issues that Simba was facing with its online checkout and provided a solution that cut down on the checkout friction and sped up the entire payment process. This tool also allowed Simba to monitor the customer journey, providing the necessary data the company required to increase conversion rates of its customers. DivideBuy was trialled alongside Simba’s current provider for two-weeks, which later increased to nine, and the results were outstanding, with conversion rates increasing against the competition.
Simba’s head of eCommerce, Jon Moore, commented: “The DivideBuy team was absolutely brilliant in the trial run and played a large part in the crossover and implementation period. We were supported by a lead developer throughout the entire process, with DivideBuy’s technology integrated directly into the Simba platform – meaning a split payment transaction can be treated just the same as a normal transaction. This all made the checkout process much easier than with our previous provider.”
Robert Flowers, Founder and CEO of DivideBuy, added: “We’re absolutely thrilled to have played a part in Simba’s recent increase in revenue. The entire point of the DivideBuy interest-free credit solution is to make large purchases more accessible for consumers, without the risk of hidden fees, enabling merchants to reach out to a wider range of customers. This has been the result of our partnership with Simba Sleep goes to show that the DivideBuy product is extremely relevant to the market right now.”
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