2021 is the year to invest in your business: start optimising your conversion
Fintech, what is it? How does it work? Why is it your best ally? The beginning of the year is for many a moment for self-evaluation, KPI analysis... Do you manage to reach your target audience? Does your strategy enable you to achieve your goals? Do you meet the purchasing needs of your customers? If you cannot answer these questions, you could be selling much more than you already are. PayXpert is a leading financial partner born to help you and your company increase conversion and optimise your finances. Don't know how to get started? We propose these financial purposes to start off 2021 on the right foot: learn how to sell on the Internet, get the most out of your payment data, know the buying habits of your customers or integrate the best payment gateway in your physical and online commerce.
How to define your company's financial purposes this 2021
In addition to determining the goals to be achieved, or defining the strategies and tools with which to work in order to achieve them, your purposes must be based on the vision, mission, and values of your company, your team, and, in essence, your brand. But what are the mission, vision and values and how do you define those of your company? Here we explain it to you.
- Mission: the essence of your brand. To discover it, you have to answer the following questions: what is the ultimate goal behind your brand? If you had to define your company's ultimate goal in one sentence, what would it be? The mission refers to the role that your company plays in society, what needs does it satisfy for your customers? Coca-Cola's mission is to refresh the world, not just in the physical sense, but spiritually. In short, the mission is the goal of your brand, and the needs it satisfies for your client.
- Vision: the future you want to create with your brand. By vision we mean the change you want to achieve with your brand: a visualisation of what the world will be like once your brand is in it. Revisiting Coca-Cola again, we see not only how they want to refresh the world, but how they want to achieve this by putting drinks on the market that will captivate people. That's their vision: they imagine a fresher world thanks to drinks that people enjoy and share. They create brands and offer drinks that people want to refresh it in every way.
- Values: ethics, the principles behind your brand. Values refer to the premises that give foundation and humanize your work; moral ideas that make your client identify with you and choose you over your competition. Coca-Cola defines itself as sustainable, human, captivating... What are the inviolable principles that define your brand? Make a list of between 2 and 3; remember to choose the most essential ones.
Are you ready? Once you know the core elements of your brand, you are ready to define its objectives, know the ideal customer you are targeting, and define your goals. Next step?
Meet your buyer persona: your ideal customer and what they expect from you
The profile of your typical customer is known as a buyer persona. This is the person who comes to you because you are their preferred option over the rest of the available ones. That's why it's especially important to know them, their habits, their desires and their fears. How do you do this? The Big Data, or data produced by your customers when interacting with your payment gateways, can help you draw a map of characteristic features: what is their age and profile, where do you have the most customers, what is their average ticket, which are the best-selling products... Knowing your audience helps you redirect the message, the means by which you address them, and the tools you put at their disposal.
Define your purposes by 2021
There are common objectives to all brands, and others more specific to each company (depending on their characteristics and market circumstances). Many of our customers come to us with clear ideas about what they hope to improve in the future. We propose you some purposes for this 2021:
- Increase conversion: more than selling more, selling more and better. Identify losses, abandoned carts, control fraud... Elements that determine the operation of your business, which are often overlooked and whose control will allow you to increase the net profits of your business. Sell more and better.
- Better management control: analyse your KPIs, understand your finances like a professional and make the best decisions for the present, near future and distant future of your business. Understand your company's performance as a true expert to get the most out of it.
- Best User Experience (UX). More than meeting the primary needs of your client, make them feel that working with you in easy and secure. How? By offering multichannel payments, alternative payment methods, invisible payments, ensuring that their data is completely secure... The ultimate goal is to give your customer the best collection coverage, adapting to their needs and desires at every stage of the purchase process.
- Consolidate your presence in the international market. When your business operates in different countries, you have to be prepared to meet the needs of customers with different consumption habits. Therefore, including country-specific payment methods is the best way to show that you know your customers and want to offer them the best shopping experience.
PayXpert, at the top of financial technology for 2021
Looking ahead to the new year, it's important to choose a financial partner with enough experience and added value to offer you the most competitive technology in the financial sector. As fintech experts, we know and can help you achieve your goals, and position yourself in the market, highlighting the importance of your proposal. Our tools guarantee short- and long-term results for small and medium-sized companies. Do you want to know more? Contact us and get advice from our experts.