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We have a similar experience with our self-service advertising system: http://www.adperium.com/start

What we did to increase the conversion rate:

1. Use one long form instead of a "wizard" containing multiple steps. Advanced options are hidden by default to keep the form manageable

2. Show the checkout buttons on the same page, so users see the available payment options right away

3. Remove the sign-up step. We simply send the users a secure URL to the email address they provide in the checkout process

4. Use an informative landing page (http://www.adperium.com/advertise) including a demo link, instead of linking directly to the campaign creation page



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