When we consider improving the sales of our e-business, we usually think about making an online sales strategy based on marketing actions and social networks. However, there is a much more important point to which most online stores go unnoticed. We are talking about the payment methods they use. Do they adapt to the needs of their customers? And what about to their local payment methods? Do they know the influence of payment gateways on business results?
In this post we will tell you how to improve sales in your eCommerce site based on these points. Are you going to miss it?
Learn 3 ways to improve sales in your online store
Next, we are going to talk about how to improve your eCommerce sales. It is not a matter of choosing one of them, but all of them are complementary to each other and can coexist perfectly within e-commerce. Here's why.
New local payment methods.
If you know the profile of your potential customers, their consumption habits, demographic information, etc., then it will be easy to know what local payment methods they use. Imagine that you have an online shop where you sell typical Spanish products and you often get purchases from Chinese customers. At this point, it would be very interesting to study the payment methods most used by this type of consumer. WeChat Pay and Alipay are two good examples, as they are used by millions of Chinese people
With payment gateways.
You don't need to have one or more several separate payment systems, but you can centralise them in a single platform from which to manage them. In addition, it will be easier for the user to choose how to make the payment and change the method if preferred. In fact, some payment gateways already have a Cascading system that allows the operation to be redirected to another payment option in case of error. It will be much easier for e-commerce sites to track transactions and draw conclusions about customer behaviour towards the business.
With complete marketing strategies.
It is common to carry out digital marketing strategies to achieve better results in sales. However, this is a long-term process very focused on the positioning of the business in Google search engines (content strategies, SEO, keyword research, etc.), increasing its visibility. Digital marketing strategies are more far-reaching than traditional marketing and makes the brand known to various audience types.
They can be very effective for your potential customers to find you. However, we should not forget that the most important moment in the purchase process is the payment, so it is essential to have safe methods known to users to increase their confidence in the business. These three ways to improve your sales directly influence the user experience.
They are so complementary that some payment gateways also allow you to increase online visibility with marketing services, as is the case with PayXpert. Having a presence in social networks, including a blog on your website and promoting SEO positioning are three key tricks for any online business. In the case of WeChat, there is also geolocated marketing, which allows greater visibility of your eCommerce site to Chinese buyers. And in Alipay, you can show your shop so that it appears on the page of the city you are in.
Open your business to international payment methods!
Control sales through a Dashboard
How are you managing your eCommerce payments? Do you know what data management is? Control panels are a quality that very few payment gateways have, however, it is essential to have an overall view of the operations that are carried out. Based on this, decisions can be made with all the information to reach the full potential of the business with a few clicks.
The Dashboard is a very useful innovation to manage data based on charts, selectors, etc. The main areas of interest are: risk management (real-time control of chargebacks, refunds and fraud level, as well as analysing them from different points of view), transaction activity (to track operations, their acceptance, rejection and fraud) and sales volume (displaying sales by geography, websites, business models , coins, etc.).
Exploring your business data will be very useful to understand your customers and acquirers. In addition, you will also be able to access filtered lists of transactions directly from the part of the statistics you want to analyse in detail. However, all this is only a small part of what you can do with a specialised management dashboard. The figures you need are just a click away.
Analyse your past data and compare it with your current data. Import the information you need to go deeper into the figures. Analyse your transaction history in detail.
Data reveals the reality of your business!
Final conclusion about sales optimisation
Increasing sales is the dream of every business. Now it's possible to do it easily with your payment gateway. And the reasons are very simple. First of all, they allow you to optimise all the operations that are rejected and to control the payment of your customers. Secondly, they make it possible to understand user behaviour through interpretable graphics.
All eCommerce sites have 3 tasks ahead of them to start optimising its sales: identifying the type of customer and the method best suited to them, establishing omnicanality (coexistence of payment methods) and identifying pain points and correcting them.
Do you want to know other alternatives? Do you want to dig deeper into the different ways to improve sales we've shown you? Do you need to implement WeChat and Alipay in your business strategy? Are you ready to optimise your business and learn how to improve sales?
Tell us about it.