We’re three days out from Money20/20, and it’s time to reveal tip #3 on our list of the Top 5 Ways SPEED WINS when it comes to growing your online payments program. If you haven’t seen the first two tips, visit our LinkedIn page or follow us on Twitter to read about them.
#3: LIFT IN CONVERSIONS
Despite the maturity of the online channel, merchants are continuing to leave money on the table with sub-optimized checkouts. Sometimes complex combinations of sales promotions, global exchange rates, various browsers, mobile devices and other factors can throw merchants off their game. But with the right plan, it can be “game on” instead of “game over.” The right configuration, payment options and purchase best practices in the checkout can alleviate shopper frustration and decrease the possibility of cart abandonment. After all, if merchants can capitalize on shoppers who are ready and willing to buy – imagine how they can speed their way to revenue and add to their bottom line.
As we mentioned in our blog earlier this year, a Digital Marketing Optimization Survey conducted by Adobe in April 2013 revealed how most companies spend less than 5 percent of their budget on conversion optimization. But, that 5 percent is truly paying off – even a small uplift in conversion rates can translate into BIG revenue gains. So if you’re looking to increase your sales, improve your customer experience, and accelerate your speed to revenue, start by lifting your conversions and downloading our whitepaper – “Seven Marketing Best Practices that Help Increase Incremental Conversion Rates.”
To learn more about turning your payments program into a revenue stream, don’t miss our presentation – New Insights from Live Payments Data – at Money2020 on Monday, November 3, at 8:50 a.m. PST in Juniper 3 at the Aria Resort and Casino in Las Vegas. The session is being presented by Digital River’s CEO David Dobson, and Nana Banerjee, president and CEO of Argus Information and Advisory Services and group executive and chief analytics officer at Verisk Analytics.
Will we see you at Money2020? To request your invitation to our networking event at Cosmo’s Chandelier Bar on November 3, at 7:30 p.m. PST, go to http://driv.ws/4i.