A declined transaction is quite possibly the worst reason to lose a sale. All that’s left is to take the money. This should be the easiest part, and it’s important to do, because the cost of acquisition of for new customers is a consideration for every online business. In short, customers don’t usually fall out of the sky. Getting them to your website is hard, educating them about your product or service is harder still, and helping them through the sales funnel will determine whether your business succeeds or fails.
Considering the amount of work going into the sales process, it’s extremely painful to lose it on the goal line because of a hiccup while collecting a payment. It’s a terrible reason to lose a sale. That same potential customer can easily bounce away, and unless they are particularly keen on your product, they might not come back.
It’s important to: