Great news! Your customer hit the “buy” button—now your job is done and it’s time to book the revenue, right? Sadly, no. In fact, you’re just getting started.
Both the payment step and the payment success rate are critical to your success on Black Friday. Even after a customer hits the purchase button, the transaction (along with your revenue) remains susceptible to payment gateway errors, payment processor errors, slow networks, buyer error, and a host of other issues. That’s why it makes sense to track the magnitude and ratio of both successful and failed orders over time to determine trends well in advance of the big days. Similarly, monitoring payment methods can help you identify which ones have the highest success rates—and then you can feature those options most prominently.
Look at it this way: Imagine if you were actually able to collect revenue from 100% of your customers’ purchase attempts on Black Friday. How much extra revenue would you book in just that one day?
New Relic APM, New Relic Browser, New Relic Mobile, and New Relic Insights can help you figure this out by exposing the “why” behind failed payments, making it easier to troubleshoot the issues and quickly improve your payment success rate.
Start by marking your checkout transaction as a key transaction leading up to Black Friday, and set an alert to notify you of any issues. If your payment provider can accept $0 transactions, test the checkout process at regular intervals using synthetic monitoring (see tip #7 below). The goal is to avoid hearing about problems via customer complaints on Twitter. Key metrics to track are payment success rate, payment gateway response time, and third-party payment provider response time.
Next, take a close look at your cart abandonment rate. How much of that is due to app performance problems versus other variables (such as issues with external payment providers or other third-party services)? With real-time performance dashboards powered by New Relic Insights, these questions can be answered right away and the problems quickly fixed.