Some people believe that a good offer and a good price are the only things that affect your sales. Subsequently, they also believe that when it comes to online payment gateway, they can just pick one on random and that’s it. As you can probably guess, this attitude is as wrong as it gets and there are many ways in which the choice of your payment method influences your sales as well. This however, also means that it could be used to increase them and here are few ways how.
First thing first, even in 2016 you would be surprised how many people don’t know enough English to conduct a purchase online. This is something that leads to a huge percentage of shopping cart abandonment. For them, this language barrier is simply an impassable obstacle so if you want an increase in your sales it is your job to break it. Luckily, some payment gateways have support and customer service in local languages and this can mean a world to your clients.
Now, you may believe that having just one payment gateway helps make things run smoother, but this is not as simple as you it may seem. Sure, it is easier to maintain, but this kind of practice seriously hurts your profit. It is not up to you to decide what payment method your customers are going to use, yours is simply to enable them to pay in this way. In fact, well over 42% of all online customers claim that the greater choice of payment makes it easier for them to spend more. For this reason alone, what you need are more reliable alternative payment methods which will allow your customers a full freedom of choice.
Local payment options
We already talked a bit about adjustments to local markets (in the language section), but there might be something even more important than that. Most regions have their own preferred payment options, which are often even used by the majority of local populace. By allowing your customers from those regions to use them for payment on your e-commerce website, you will give your sales a significant boost. Of course, this doesn’t mean that you should just include every single payment solution in the world since this would be impossible. Just do a local market research and make an assessment to find out which gateways are worth implementing.
Improving conversion rates
Last, but not least important is that if you want your sales to grow, you need to improve your customer experience (CX). The first step on this journey of thousand miles lies in improving conversion rates which facilitates virtually everything customer does on your website. What your clients need is a lot of patience, reassurance and simplicity. Make sure that your store is well arranged, that every piece of information needed to them is clearly visible and easily distinguishable, but most importantly, enable them to pay with just few clicks.
From all of this, one can conclude that there are three things that serve as a cornerstone of any e-store’s success. First, you must take local regional traits you are dealing with into account. Second, more payment options almost always mean more sales. Finally, by making your site easier to navigate, browse and deal with you will make your customers much more eager to buy. Like in any other line of work, the better the service, the more profitable the business. There is no exception to this general rule.