It's time to bet on an optimal payment gateway for your e-commerce. We bring you these simple tips to help you develop an internet sales strategy that we have discovered in our many years as payment consultants.
First things first. What is a payment gateway? Very simple: it is the system that allows you to receive payments when a customer buys one of your products or services. In other words, the system that completes the conversion cycle. That’s quite a thing to say. This is why taking care of the payment gateway of your e-commerce is a task that should not be neglected. Perhaps you did not know, but a payment gateway that is not very functional or with poor web usability is one of the 5 causes of customer abandonment online.
How to increase your conversion rate
Helping eCommerce websites to increase sales and build customer loyalty is one of the goals of financial technology or fintech. Any online business wants to improve the performance of its KPIs and needs tools to combat chargeback or even integrate new payment methods adapted to the needs of most international customers. Everything to provide your e-commerce website with the best user experience: one that favours customers' shopping experience, with a personalised offer and that turns payment into a fast, comfortable and secure process.
One of the most basic elements, when we ask ourselves how to sell more online, is the payment gateway. This, together with a good digital marketing strategy, results in a powerful combination to stimulate sales in your eCommerce. We bring these 4 simple keys in digital marketing to sell to more customers:
Yes, you can. Increase cross-selling on the payment gateway itself. You probably know the phrase: "And for 1 more euro, take this *insert additional product*". But did you know that it is possible to implement cross-selling strategies on your own payment gateway? If you pay attention, this is already done in physical shops. We mean all those low-cost products located at the sides of the payment queue. It sounds familiar, doesn't it? Well, it's all about implementing this in the payment gateway of your eCommerce portal. With the advantage that, because we know the products that interest our customer (because he has clicked on them before), we can make him a personalised offer.
Social networks: your best allies
Did you know that more and more social networks include a buy button? Yes, they do. One example is Instagram and Pinterest. Does Instagram Shopping ring a bell? This is a tool that allows brands to label their products in posts. In addition to being a great way to expose our stock to customers and interact with them, social networks are another way to complete sales.
Pay By Link
If your client has to click more than 20 times to complete the purchase process, it is very likely that he will get bored and leave. You are the first one interested in offering your client a fast, faultless and secure payment gateway. One way to achieve this is Pay By Link. And yes, it is exactly what it sounds like: a link that redirects your customers directly to the payment gateway of the product or service they want to purchase. Once they have gotten there, they only have to follow a few simple steps in which you will collect the delivery details, the payment details and finally the customer will carry out the transaction. All this with maximum security guarantees: the payment gateway is, perhaps, the phase you have to take the most care of in order to offer a perfect user experience.
Cash-Back strategies to build customer loyalty
There is only one thing better than a sale: a customer. A sale means that someone gives us a vote of confidence. You get a client when that vote of confidence is consolidated, and we become someone's reference shop. How is this achieved? Through new customer loyalty strategies. One way to ensure the loyalty of those who have chosen our eCommerce website is the Cash-Back strategy. Cash-Back consists of offering the customer a return of a percentage of the final price on their next purchase in our shop. This way, we manage to stay active in the memory of our customers for future purchases, and we establish ourselves as one of their regular shops.
These are some of the many sales strategies that, integrated into your payment gateway, will help you increase the average ticket for each customer while offering them a shopping experience they will want to repeat. Indeed: financial optimisation tools aim at much more than increasing sales in the short term. With them, we want to help you understand your customer, offer them a personalised service, fight chargebacks, detect where and when you sell more... In short, to develop a whole technological structure that, with the help of our experts, will allow you to make the best decisions for the future of your business.
Payment technology: your secret weapon for management control
You probably wouldn't have considered working with a financial consultant before. You probably wouldn't have thought about payment technology to help you improve the performance of your KPIs. Did you like what you read? Do you want to get to know us better? Learn about our tools and services. Find out how our customers have managed to better understand their finances with PayXpert. Because choosing the best partner pays off.