E-commerce is one of the few safe bets in 2020
2020 is proving to be a year full of surprises and is forcing companies around the world to look for alternatives in an attempt to maintain sales volume. This has sparked the ingenuity of many, who are integrating new sales channels or digitising their financial management. All with a clear objective: to better understand the consumer in order to offer a more personalised experience and make it easier to buy.
With the pandemic, your average ticket may have decreased, or you may have even lost customers. That’s why at PayXpert we’re committed to taking your business further: start selling online by reaching more consumers, and in the most efficient way. How? Keep reading: we bring you the key points for a successful e-commerce.
Entrepreneurial ideas in e-commerce
The first thing to keep in mind when starting an ecommerce is that while it’s a complex task in a competitive market, there’s specialised technology to make the process easier for you. The so-called financial technology has been growing exponentially in our country for 5 years. According to the ABC Spanish newspaper, these have increased from 78 Fintech companies in 2015, to 385 that were accounted for in 2019.
But what is the reason behind this increase? Why are more and more companies turning to Fintech technology? Financial technology was born to respond to the reality of today’s companies: companies that use their big data to get to know their customers better and offer them customised products and services; that integrate the most innovative tools to control the performance of their KPIs, and to be able to adopt the best strategies.
Our digital payment processing platform is specifically designed by Fintech experts, with the sole purpose of helping you to optimise the management control of your business and offer your client the friendliest side of payments. And all of this translates into efficient, powerful e-commerce with a great user experience. In other words, you increase the opportunity to sell, and you increase conversion.
How can financial technology help me start selling online?
There are several applications of Fintech technology to help us lay a solid foundation for our e-commerce. But without a doubt, one of the most useful and popular are the ones that allow us to get to know our buyer persona and better understand our business and those that enable omnichannel commerce and payment.
Get to know your buyer’s shopping habits
Now more than ever, companies are seeking to develop an offer as adapted as possible to the tastes and purchasing habits of their ideal customer. But first, what is the buyer persona? The person buyer is a term used in marketing strategy to refer to a fictitious character that meets the profile of our end customer. This profile, in addition to a basic profile (gender, age, educational level), contains demographic information (where does he live? What does he do?), psychological (is he slow, impulsive? What does he aspire to? What are his desires and/or motivations?) and information about his consumption habits (what time does he consume? What is his preferred payment method? How much does he spend on average?)
Through financial data management tools (data mining) and Business Intelligence, knowing your customers’ consumption habits is much easier than you’ve thought all this time. Thanks to one of the technological leaders in the sector, such as PayXpert, you can use the data generated by the economic activity of your business to generate graphs and statistics that represent the global distribution of your customers, the payment methods and currency they use, or the time of day they buy in your business.
Observe the rejection rate or keep fraud at bay; get an overview of transactions, or analyse them individually in just a few clicks. All to give you a clear view of your finances that will allow you to quickly identify errors or points for improvement and take action on the spot.
Implementing a payment platform that lives up to expectations
Your client’s expectations, of course. As we mentioned in the previous point, thanks to data management you can know the payment methods of your customers. But what if you were losing customers because you did not offer their payment method? What if there were visitors to your website who abandoned their shopping cart because they couldn’t find their payment channel? Offering an omnichannel payment platform has long since ceased to be an option for companies that want to have a future in an increasingly competitive market.
When you are thinking about making the move to e-commerce, implementing the latest payment processing technology necessarily can be only achieved through omnichannel payments. Once again, providing payment optimisation tools is a task for which Fintech tools have been developed. PayXpert has developed one of the most innovative and powerful payment gateways in the industry. Payment technology has been made available to both small and large companies to help them reach more customers.
It is through this payment gateway technology that we offer omnichannel payment processing, with which you will be able to cover your sales both in your physical and online business. This becomes especially important in times when contactless payment (or touch free payment) is the norm: omnicanality allows your customer to pay by card, mobile phone, SMS or even a link sent from the customer service chat of your website (Pay-By-Link payment). Technology at the service of people’s needs and well-being.
PayXpert, the kindest side of payments for you and your customers
Getting started in e-commerce is no easy task. But you’re not alone, the PayXpert team can help you get off to a good start. With years of experience in Fintech and Paytech innovation, we have the tools you need to start selling online in the best possible way. We want to be your team, are you in?
