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“Hidden buyers” are the secret to growth. Here’s how to find them

Josh Carter


March 1, 2022


3 min read

Do you know how much revenue you’re missing out on from visitors that come to your site or in your store that don’t make a purchase?

There’s a ton of reasons why someone doesn’t buy, but sometimes it’s simply because they want more budget flexibility or they are unsure if their credit score fits within the FICO band of financing that you offer.

Sometimes, it really is as simple as flipping a switch to discover a whole new segment of customers.

We’re going to show you how to do that in this article.

What are “hidden buyers”?

Right now, you’re probably only selling to prime or subprime customers because that’s who typically buys from you.

But in the process of hyper-focusing on only this specific group, you may be missing out on other, “hidden,” buyers.

Here’s a scenario you may be familiar with:
You’re the SVP of marketing at a successful eCommerce or brick + mortar store, selling consumer goods directly to customers that fall within prime credit scores.

Equipped with this information, you’ve perfected your checkout process to serve that customer, including a financing option specifically for their typical credit score.

Your revenue breakdown probably looks something like this:

  • 60-70% of your buyers pay cash to checkout

  • 30-40% of your buyers use financing to checkout

While this is the clear path to go in order to drive more purchases from your typical buyer, you can also accidentally prevent site visitors from buying your product that you want to buy from you that either don't fit, or don’t believe they fit, that prime or super-prime persona.

These potential customers that leave your site or store because of a lack of purchasing options are what we call “hidden” buyers, and it happens more often than you think.

If someone wants to buy from you, don’t put up a barrier and make them go elsewhere - give them an easier option.

How to convert more hidden buyers to purchases

If someone wants to buy from you, don’t put up a barrier that makes them go elsewhere - give them an easier way.

Most companies interpret “easier way” by signing with 4-5 different financing options, posting every option on their checkout page or in their store a (“payment options” page)

At best, this is a band-aid fix. At worst, it’s actually turning away “hidden buyers,” and therefore lost sales.

Think of how easy it is to get distracted or overwhelmed by too many options. Attention spans have shortened, and you need clear paths and guidance to purchase.

There’s two proven ways to convert more hidden buyers:

  1. Simplify your checkout options
    When faced with more options, the human mind tends to waste time processing.
    This means pay with cash OR an alternative. The alternative you choose is totally up to you, but you can find yourself back into the same spot if you’re only offering a loan, LTO, or BNPL option as the alternative (shameless self-plug – Koalafi is the only full-service solution on the market today).

  2. Promote comprehensive financing
    Awareness is essential to uncovering (and unblocking) any purchase objections. In your advertising and on your website, promote inclusive payment options to ensure target buyers know where they stand from the get-go.
    More education and awareness on options will build trust with the shopper. And trust is key in every checkout process.

Don’t let hidden buyers stay hidden

You don’t need to spend a ton of money on promos or advertising to drive incremental volume. Keep the engine running like it is now, but widen the scope of who can buy from you with all-encompassing payment options. You’ll see your revenue numbers start to tick up slowly but surely.


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