Whatever your business, optimizing sales is sure to be one of your vital goals, right? Achieving this is a matter of carrying out a series of processes that today we will share with you in the form of strategies. Here we go!
Strategies to increase sales
-
Acquirers.
An acquirer is a bank that processes card payments on behalf of a business, credit or debit. To carry out this process, it requests an authorization from the bank of the person making the purchase through the card that he or she uses (American Express, MasterCard, Visa…). The contract with this type of bank allows eCommerce sites to process transactions and manage them. The issuing bank acts as an intermediary between the consumer and the card network.
The communication of the issuing entity with the acquirer involves a number of interactions and both entities must work together to process operations successfully. This process involves many actors: customer, merchant, acquiring bank, card network, issuing bank, payment processor and payment gateway. For example, let’s think of Cascading. If the transaction is on hold or has failed, it can be redirected to another payment option in order to significantly increase your conversion rate.
-
Optimization of payment gateways.
For any business in the electronic world, payment systems are an essential aspect of achieving sales. With this goal in mind, we not only need marketing, SEO and SEM strategies (increase traffic and visibility), but also, we need the visits on the website to be translated into sales and long lasting relationships with customers
Optimizing payment gateways is a key strategy for the user experience and, therefore, to increase sales of any business. That’s why we recommend: study your lead, take the time to choose the best payment gateway and provider, and offer the payment systems that your leads typically use.
Does your online store receive many visits or purchases from Chinese tourists? AliPay or WeChat Pay can be two highly recommended payment options for your business, as millions of Chinese citizens feel identified with them and use them daily. Offer customer-friendly payment options: you’ll improve your business conversions in no time.
-
Seamless integration.
It can be the perfect formula to increase your sales. The payment methods you offer to your customers is one of the main reasons why they leave the shopping cart. Using services from different providers to manage operations can harm your business, so we recommend a unified login and a common interface.
This way, you will eliminate the need for multiple suppliers, optimize your online business, your customers will be satisfied with the purchase process and you will increase the conversion rate. Think about this: customers can’t stand a website that takes a long time to load.
The moment when payment takes place is the most important action for users when making a purchase, and therefore, it is advised not to redirect them to an external site. It will increase their mistrust and, almost certainly, they’ll abandon the operation. Seamless integration has become a popular solution to make the payment moment increasingly “invisible” and keep an eye on control. Are you ready to make your purchase flows perfect?
-
Increase the security of your payments.
One of the first things you should consider in your online store is the security of the business. If your customers don’t feel safe when making a purchase, they’ll leave, no matter what your prices are. In order for this not to happen, it’s important to increase the security of the payment methods you offer, taking into account the following tips:
- Track user operations and behavior.
- Choose the payment solution provider that best suits your needs.
- Make sure you have the resources to serve the security of your eCommerce.
- Choose a provider that complies with SSL security certificates and Address Verification Systems (AVS).
- Update the operating systems you use to avoid security failures and test your processes regularly.
- Keep settings that ensure data protection. Remember that the solution you choose must convey confidence, clarity and simplicity to the user.
-
Adapt your payment methods to the customer’s needs.
Considering that online purchases are based on a trust relationship, where the buyer pays for a product before receiving it, the user needs to fully trust the payment method offered by the business. That’s why it’s important to know the needs and characteristics of your potential customers.
Consumers and businesses are increasingly thinking digital, so today you need to be able to charge easily through a single integration, increase your portfolio of domestic and foreign customers to stay competitive, offer ‘invisible’ or one-click payments, use different payment options by country, and have an overview of transaction performance at hand.
Having payment methods tailored to your customers will allow you to offer the best experience for your business and your customers alike. Adapt your methods to the systems your customers prefer with total confidence!
Other tips: take the time to choose the best payment gateway to increase sales
All these strategies are key to increasing sales of your online business, and payment gateways are essential in the purchase process. They are not a simple software to make transactions, but the type of payment that will determine whether a purchase is made or not. Here are some key tips to combine with the 5 keys we’ve mentioned:
- Create a marketing strategy to increase visibility and build trust with the user.
- Hire payment method specialists and get advice on the methods that best suit the potential customer.
- Define the appropriate customer profile.
- Use a responsive design.
Although they seem very logical, these steps help define a robust strategy to achieve the sales goals of any business.
Do you already know which systems your customers prefer? Tell us.
