Collections can bring great added value to an ecommerce strategy, and even become one of its strengths.
The online world has opened the doors to many enterprises that find in the digital environment a place to develop their ideas and start businesses with a much lower investment than would be necessary in the real world. Thus, numerous ecommerce sites are emerging on the web with different themes: footwear, jewellery, travel, clothing, video games, technology… The variety is enormous, but they all have more in common than differences. And one of these points is the need to charge your customers in the fastest, safest and most comfortable way for them.
The payment process is not a mere formality, but the checkout of an online store can be a decisive point for the end or not of a purchase, the consumer experience, the return of the consumer or even the increase of the average ticket. In addition, the information obtained from transactions can also be useful for making decisions about different marketing strategies, such as promotions, prices, shipping… For all these reasons, it is essential to optimize the payment process and to have a partner who not only allows you to get paid, but also offers added value to the business, as it happens with payment gateways.
This sounds really well, but what can an ecommerce really achieve thanks to the advantages of a payment gateway? We will tell you below:
- Reduce abandoned carts. Payment is probably the most friction point in a sales process. Therefore, it should be as quick and easy as possible, without losing sight of security. Moreover, not all consumers have the same preferences when it comes to payment, so having different payment methods can be a plus (card, bank transfer, Amazon Pay, PayPal, Bizum…). The more this process is optimized, the lesser the abandonment of the purchase will be.
- Facilitate repetition of purchases. Once the user has made his first purchase, it will be easier to attract him because he already knows us. But he must also feel that we know him. To do this, it is possible to save your card so that you do not have to enter it in the next payments (thanks to tokenization), as well as remember your preferred payment method to offer it to you as a first option.
- Increase the average ticket. Some payment gateways offer the possibility of offering deferred payments to customers, which increases their spending capacity and therefore can increase the average ticket, being especially important in those ecommerce whose products have a high economic value.
- Create plans with recurring payments. There are numerous business models and one of them is subscription-based. For these cases, having a provider that offers the service of recurring payments will be especially useful, allowing the consumer to be charged periodically and automatically. This is also an opportunity to innovate, as some ecommerce companies have already done, changing products such as beauty products into a subscription model, which at the same time helps the discovery of their products and pushes more conventional sales.
- Knowing the purchase behavior of users. Thanks to the Business Intelligence service offered by some gateways, it is possible to have an overview of how customers buy, what payment methods they use most often, what times of the day they prefer to buy or from which geographical areas are sales made.
- Retain customers and increase purchase frequency. Loyalty programs can be a very useful tool to ensure the return of customers to our online store and make them buy more often thanks to point systems, rewards, etc. These systems can take the form of physical or virtual cards on which these points are collected.
As we can see, payments can become a strong point within the strategy of an ecommerce, for which it will be essential to choose a partner that brings added value to the business. From Sipay Plus, Spanish payment gateway, they highlight the importance of experience in the payment sector to understand the needs of each client depending on their business model, the type of consumers they are targeting or the market in which they are located. This experience, added to the capacity of adaptation and constant innovation will make a partner the strategic ally that an ecommerce needs.