There’s no way around it: expanding into new global markets is incredibly complex. To be successful, companies need a comprehensive global expansion strategy and the right tools to execute on that strategy.
Now, brands that use Magento Commerce from Adobe to create engaging customer experiences have a single integration for simplifying the back-end operations that make global ecommerce expansion so challenging.
The Digital River Extension for Magento Commerce provides a pre-built integration that seamlessly ties together Magento’s front-end shopper experience with Digital River’s back-end solution for protecting and optimizing your business. By adding the Digital River extension to your Magento store, you have an industry-leading solution for global payments, fraud, tax, and regulatory compliance.
Here are five ways the Digital River Extension for Magento can simplify your global expansion efforts and optimize your success.
1. Speed to market
To beat your competition and gain market share in foreign countries, you need to move quickly. Using the Digital River Extension for Magento, you can enter new markets with a localized approach in six weeks or less, not years down the road. That’s because we have the local infrastructure, tax registrations, and banking connections already established on your behalf. So, instead of spending months or even years establishing relationships and laying the groundwork for operations, you can use one simple integration and start reaching new customers in less time.
2. Simplify your back-office operations
When entering new markets, many companies struggle to scale their operations to account for foreign tax, payments and compliance requirements. Now you can simplify all of those complex back-end operations using the Digital River Extension for Magento. As a Magento partner, we take on the responsibilities and liabilities of payment processing, fraud prevention, taxes, and compliance with ever-changing regulations. This helps protect your brand by ensuring a seamless shopping experience, and you can focus on your core competencies while leaving the back-end complexities to the experts at Digital River.
3. Consolidate technology
Many brands experience vendor overload as they add individual integrations to handle things like payments, taxes, regulatory compliance and financial reconciliation. But with the Digital River Extension, you get all of those processes in a single integration. No need to sign multiple contracts and manage numerous vendor relationships. By consolidating and simplifying your technology solutions, you can reduce operational costs by 20% to 30% and eliminate the headaches and risks that come with managing so many partnerships.
4. Improve customer experiences
Providing a seamless and localized checkout experience is just as important as the front-end shopper experience. For example, 50% of shoppers will leave a store if pricing is in a foreign currency. Providing the right local payment methods is also very important as preferences vary throughout the world. The Digital River Extension localizes your store country by country to ensure that your global customers see the currency and payment options that they expect. Even payment processing is localized, reducing card declines and eliminating unexpected foreign transaction fees that leave a bad taste with customers
5. Increase profit margins
The key to optimizing new markets is to operate like a local business. From the language in your marketing to your checkout experience, acting local inevitably leads to greater success. By providing local currency and payment methods at checkout, the Digital River Extension helps you improve conversion rates around the world. And by routing payments through local rather than cross-border banks, you increase authorization rates, lower processing fees, and ultimately increase profit margins.
Global expansion has never been more necessary for ecommerce brands. But it’s also never been more complicated. With the Digital River Extension for the Magento platform, you can simplify that complexity and quickly scale your operation to successfully meet the challenges of new markets.
Ready to take your Magento Commerce store global? Contact Digital River today to learn more about how our powerful integration for Magento can drive extraordinary results for your brand.