How to Run a Successful Mobile Marketing Campaign

How to Run a Successful Mobile Marketing Campaign

SMS Marketing has become an incredibly powerful marketing channel for retailers and it is precisely what it sounds like – a way to connect with customers at every stage of their purchasing journey using text messages.

Retailers can use texting to send customers special promotions, mobile coupons, announce a special or event or simply encourage them to come back to your store. 

In our previous blog, Conjure Sales & Build Trust – The Magic of Mobile Marketing, we addressed some benefits and best practices of SMS marketing for retailers, including how to stay compliant. As a follow-up to that article, we will outline how to run a successful campaign and provide some examples of customer texting done well in this blog.

How to run a successful SMS campaign

Starting an SMS marketing campaign is not just a matter of deciding you want to get into this type of marketing. These campaigns require thought and attention to yield amazing results. Follow these best practices to get the most out of your next SMS marketing campaign to boost sales.

  • Get permission: Encourage people to sign up for your campaign with reminder prompts, just ensure you ask for permission separately from email marketing requests.
  • Keep it to the point: All of your SMS messages should stay under 160 characters as additional characters will be automatically cut off. Try AB testing to find the right mix of messaging and see what works best for your audience, but be concise. For example, do your customers like emojis, or do they find them annoying? Do they respond well when you include their first name? If so, try pairing personalization with a unique offer linked to a landing page and see if your conversion rates increase. If on the other hand, you do not see conversion rates increase, try another format until you get it right.
  • Start a drip campaign: Drip campaigns are a form of marketing automation where pre-made messages are fired at specific customers when they meet your defined parameters. For example, if a customer has been subscribed to you for six months, an automated message with a special deal could be used to reward them. These types of campaigns are simple to set up and require almost no ongoing maintenance, so it’s a great way to bring automation into your business and a first step at creating a good customer experience for your customers.
  • Get a short code for mass text messaging campaigns.
  • Stay professional, respectful, clear, and on-brand.
  • Make it clear exactly how your shoppers can benefit from your offer.

How to stay compliant

Once you tackle getting your SMS marketing automation in place and building up your list of subscribers you can start to focus on the type of campaigns you want to run. Below are a few common SMS campaigns to get you started.

Welcome your newest shoppers with a quick text. Typically, these should also include a promotion or coupon intended to encourage the shopper to return soon.

Customer service follow-up: this might be the safest and most direct way to integrate SMS marketing into your plans. It gives you the chance to check in on a recent experience or purchase to see how the customer is doing while also providing them the space to address any issues that they may have with a purchase before they take it to a review site or simply abandon shopping with you altogether. It also gives your customers the chance to select if they would like to receive SMS updates on their order once completed. When customers opt-in to receive fulfillment text messages, you can continue to upsell to boost conversions and bring in more sales, just keep it consistent and do not overdo it.

Product updates: Send shoppers updates about your most popular products or new items you have in stock. Add some urgency and combine these with promotions.

Loyalty notifications: Merge your SMS marketing with your loyalty program. This gives you the ability to notify shoppers when they earn points, redeem points, or provide exclusive benefits like flash sales, member-only events, and special offers. It also creates a sense of belonging and special treatment which means subscribers are more likely to come back to your store and make a purchase.

Personalized notes: Your SMS marketing campaign can also nurture existing client relationships by offering your shoppers personalized notes about birthdays, anniversaries, etc.

Bringing it all together

If you are looking to expand your market share while also offering your customers a faster and more secure way to receive updates about your products and events immediately, SMS marketing could be the answer you are looking for.

Keeping up-to-date with this trend will help you to adapt your eCommerce strategy quickly and get ahead of the competition. Ready to take the next step to grow your business efficiently and cost-effectively? Connect with one of our experts today to discuss your needs!

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Video Case Study: Automotive Aftermarket

Video Case Study: Automotive Aftermarket

Our automotive client’s original Volusion website was showing its age, lacking in mobile-friendly responsiveness, limited design and functionality. The client tasked InteractOne with migrating their Volusion site to Magento 2. This migration included a new responsive design with custom development of a vehicle parts lookup (year, make, model) and lighting application guide, including the ability to save a vehicle in account information. In this Case Study video we’ll be taking a deeper look at the features and functionality the InteractOne team brought to the client’s webstore and how they create a greater Customer Experience that keeps visitors engaged and shopping.

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UPDATED for 2021: How to Prep Magento for Peak Performance during the Holidays

UPDATED for 2021: How to Prep Magento for Peak Performance during the Holidays

Summer is flying by and it’s time to plan for the holiday shopping rush. As experienced Magento developers, we are very familiar with merchants turning to us for direction and help with how to get their sites ready for the holiday season. We’ve seen merchants experience 2/3 more traffic or process double (or triple) the number of transactions during November and December compared to the rest of the year.

Notably, the Magento Business Intelligence group found that merchants acquire up to 59% more customers during the holidays compared to the rest of the year. That’s a lot of new site traffic. Can your Magento site handle that big of an uptick in new visitors? With nearly 60% more new customers preparing to visit your website in a couple months, it would be smart to run performance tests now. 

Tip 1 – Page Load Speed Optimization

%

of shoppers expect a web page to load in 2 seconds or less.

%

of shoppers abandon websites that take more than 3 seconds to load.

%

of shoppers who are dissatisfied with website performance are less likely to buy from the same site again.

Magento can be a very involved platform to work with. Most Magento instances are so customized that there is no other site exactly like another. That dynamic creates several potential points of failure if your code and server configuration are not optimized to work together. Module conflicts, unoptimized CSS/JS, and any potential server-side issues need to be identified and resolved. Unresolved code issues can cause major page speed performance issues and become detrimental during an otherwise very profitable time of the year.

If your site shows signs of performance issues and slow load times now, how will it perform during peak traffic times come November? It’s critical to perform site load tests before the real traffic influx begins. Contact your hosting company before performing any tests and work with them and your development team to identify any possible issues with server resources. 

It’s also important to note that page load times and user engagement metrics contribute to your PPC quality score. Those holiday PPC campaigns could take a hit if load times are poor. Key engagement metrics to monitor are bounce rate, time on page, time on site, and pages/session. A fast site will also help your PPC cost-per-click and impressions. In addition, we’ve also seen load times have a positive or a negative effect on SEO. Page load speed is critical across the board for the success of your site.

Tip 2 – UX/UI Optimization

Not only is site traffic at its peak during the holiday season, but customers’ tolerance and attention levels are low, as they tend to be in a hurry to complete their holiday shopping activities. Make your site easy to navigate and streamline the browsing experience for customers by removing conversion blockers. Bounce rates are naturally higher during the holidays as people quickly window shop and bargain hunt. Optimize poorly performing pages, ensure page load times are at their best, and keep your product offering up to date to avoid high bounce rates.

A quick way to optimize under-performing landing pages is to identify your lowest bounce rate landing page(s) in Google Analytics. Analyze those lowest bounce rate pages and try to find ways to improve engagement across your site. Of course a more thorough review of your shopping experience (complete with A/B tests) would be the most beneficial for optimization. However, there are valuable opportunities available for improvement that can be discovered through a Google analytics review.

The maintenance of products and pricing is also vital.

    • Keep catalog images, product descriptions, prices, inventory, and shipping rates clear and updated. 
    • Ensure your pricing is competitive. Have import/export templates set up so you can easily update pricing on the fly. That way, you’re not scrambling when a competitor suddenly has a flash sale. 
    • Make sure your strongest products (best selling, best price, or highest inventory) are easy to find for customers on your category and landing pages. 
    • In addition, make sure your upsell, cross sell and related products are all set up and relevant to each other.

Don’t Ignore Mobile Traffic

Magento can be a very involved platform to work with. Most Magento instances At least a third of your traffic during the holidays is going to be from mobile devices. Mobile sales will account for more than half in most retail industries. Perform a thorough, unbiased review of your mobile shopping experience from the homepage down through the checkout process. Remove any conversion blockers, consolidate any redundant pages or steps in the checkout. Do not mark any checkout fields as required unless they really are required. Finally, make sure chatbot and email sign-up pop-ups are disabled on mobile!

Tip 3 – Security Optimization

Site security is also critical for overall site performance during the holidays and always. If your Magento site isn’t upgraded to the latest version or is missing Security Patches, you are at risk for security issues. We’ve encountered several merchants over the last year or so who have ignored security or bug patches. Or, merchants have severely delayed the upgrading of their Magento sites. By ignoring Magento Security Patches or avoiding updates, merchants are opening themselves up to a much larger problem. Problems like legal indemnification since many maintain publicly that they are PCI compliant while leaving gaping security holes in their site’s infrastructure. 

Beyond the cost and headache of what a data breach could do, merchants could lose a solid portion of customers. In fact, 31% of customers terminated their relationship with a targeted business after a breach was discovered. No merchant wants to be the next Target fail. Make sure your Magento site is upgraded or patched as soon as possible.

Tip 4 – Review and Test

It’s important to be proactive about performance testing to be prepared well in advance of holiday traffic. Merchants need to test the shopping experience on their site.  Be sure that the browsing process, shopping cart and checkout is a seamless experience for your customers.  

Review your site analytics. Verify that key engagement metrics such as bounce rate, time on page, time on site, and pages/session are performing well. Look for dips in data and bottlenecks. Pull data from the prior holiday season. Review what issues you had and where your site could improve. In addition, note what worked well for your site and look for ways to improve based on positive metrics. Analyzing your own data can save a lot of time and solve a lot of puzzles when it comes to customer experience and site performance issues.

Run perform load tests and user-based browsing tests to make sure your site is ready for any expected (and unexpected) traffic spikes. Performance tests and implementation can be a test and tune process. We’ve worked with merchants with complicated, and not so complicated, infrastructures. It can take time to locate the cause of issues and bottlenecks. Sometimes “simple” tasks can cause hiccups that take time to diagnose and find the ideal configuration. Performance tests need to be conducted long before the holidays to be successful and in place before the traffic picks up.

Get started now – or very soon.

If you are missing patches or haven’t reviewed your analytics in a while, don’t fret. Merchants still have time to get started on performance testing to get an idea of what they will need to have in place come October and November. Contact us to learn more about performance testing options or to get help with your UX/UI optimization. Or, give us a call to talk to a Magento expert: 513-469-3345.

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Holiday Season 2021: Tips to Keep Fraud Away

Holiday Season 2021: Tips to Keep Fraud Away

In Part One of our Subscription Sales blog series we covered why you should consider adding this offering to your eCommerce platform. Here in Part Two, we’ll talk more about how you can make such an offering a reality for your customers.

(Here’s the 10-second recap from Part One: Subscription Sales are booming in popularity for eCommerce competitors because they can create a recurring revenue stream that makes customers happy and, once operational, require little additional management oversight. And here is the full first article if you’d like to catch up.)

Let’s take a look at solutions offered by two of the most popular eCommerce platforms, Magento and Big Commerce, in supporting a Subscription Sales option for you.

Take Your Cues from 2020

The logical place to start in planning a strategy for your 2021 holiday season is a look back at your site’s performance during this same span in 2020.

No doubt, 2020 was a year unlike any other we’ve seen in the brief history of the eCommerce era. Fueled by the realities of the pandemic, online holiday shopping spending surged by a whopping 32% last year.

You surely looked at the good that came to your site once the holidays passed, but did you do proper diligence examining negative issues like fraud? That kind of analysis is the place to start for your 2021 holiday planning. The site Payments Journal suggests two very good questions you should be asking:

  1. What kind of transactions generated the most fraudulent activity on your site and through what channels did they come in from?
  2. What negatives resulted from this activity that hindered your ability to serve your legitimate customers?

You need to be looking at the act of prioritizing fraud prevention for the 2021 holidays now as what it really is — a way to safeguard all your business transactions, for the benefit of both your business but also your true customers.

Is Fraud on Your Radar Now?

We’ll take it as a given that you are deploying some level of fraud protection now. Yet, it’s important to ask yourself what you are learning from those efforts. Do you just accept that a certain amount of fraudulent activity comes with the territory, just as any business is going to have some losses? Or are you taking a bigger-picture approach and considering how your efforts to prevent theft could also be spilling over to prevent sales?

A perfect example of where this can occur is in activity known as false declines. It occurs when an actual paying customer gets blocked from checking out because something about the transaction has tripped your fraud protection. Data from Magento shows just how damaging this can be — your newest customers, the ones  you have worked so hard to attract, are 5-to-7 times more likely to have transactions declined by fraud tools, and up to 40% of those who go through this ordeal will go on and make their purchase from one of your competitors.

Clearly, this is a vulnerability you want to have a handle on going into the holiday shopping period.

Striking the right balance when it comes to chargebacks is another challenge. You have banks and credit cards on one side who are monitoring your chargeback ratio to make sure you are being vigilant in protecting against fraudulent sales. On the other side, you have the interests of customers, who have high expectations to get through the buying process with as little friction as possible.

Because so much is riding on keeping parties on all sides of this equation happy, you need to be frequently monitoring this component of your business. And the odds are that if you don’t have a good strategy and are struggling with this in August, it could be a much more troubling problem when sales volumes skyrocket in November.

Magento considers this kind of risk one of seven problems they identify as growth-killers for eCommerce operations.

Other Action Steps on Fraud to Consider

Limiting the damage that comes with fraud has human elements to it.

You, of course, want to have a high-performing anti-fraud component built into your eCommerce operations. Most of the time today that is going to involve some level of AI technology. However, you can’t simply expect to let that technology run on autopilot and consider the matter fully contained.

Your customer service personnel can be an important part of your fraud defenses — if they are being trained in what to look for. Now is the time for that training to ramp up. A customer service rep well-versed in how your site operates and also in the type of tactics that fraudsters often resort to can be a key aspect in your anti-fraud efforts.

The value of human involvement also goes up another level in your operations when you make fraud identification a priority Those whose jobs involve monitoring business flows and trends for your eCommerce operation also have a role to play. In their case, they need to be aware of how your anti-fraud programs work. They also have to be able to recognize unusual activity and discern when trends are developing that are pointing to a possible increase in fraud.

The best backstop you can offer in successfully supporting both your anti-fraud software and your employee efforts is to review your operation’s anti-fraud policies and make sure they are appropriate for the kind of business you are engaged in. It is not a one-size-fits-all type of consideration. Those opportunists looking to commit fraud would love to find loopholes in your operational policies that make their efforts easy. It’s part of your job to make sure you aren’t helping them in this regard.

Work Now So You Can Fully Enjoy the Holidays Later

You’re hope is that you are going to be very busy once the holiday season rolls around. And the odds are great that you will be, one way or another. You will be busy selling your products and building your customer base by making people happy, or as the alternative you don’t want, you’ll be busy putting out fires because your sales process is falling victim to those engaged in fraud. 

One study from last year showed that fraud attempts in eCommerce were up by 69% year over year. Simply relying on the same anti-fraud approaches you used during the 2020 holiday season will likely leave you at risk for becoming part of that sad statistical group later this year.

Now is the perfect time to make sure your exposure is as limited as you can reasonably make it. Make it your goal — have your updated fraud strategy fully ready to roll before that day arrives when you see the first Christmas decorations of the 2021 season showing up in a store near you! If you would like assistance with that effort, we’d be happy to help.

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Subscription Sales Success: Tools We Recommend

Subscription Sales Success: Tools We Recommend

In Part One of our Subscription Sales blog series we covered why you should consider adding this offering to your eCommerce platform. Here in Part Two, we’ll talk more about how you can make such an offering a reality for your customers.

(Here’s the 10-second recap from Part One: Subscription Sales are booming in popularity for eCommerce competitors because they can create a recurring revenue stream that makes customers happy and, once operational, require little additional management oversight. And here is the full first article if you’d like to catch up.)

Let’s take a look at solutions offered by two of the most popular eCommerce platforms, Magento and Big Commerce, in supporting a Subscription Sales option for you.

Magento Extensions and Plug-In Options

eCommerce merchants whose sites are built on the Magento platform will find a couple of popular options that bring Subscription Sales into reach:  the Advanced Subscription Products extension from Aheadworks and the Subscriptions and Recurring Payments tool offered by Magenest.

Aheadworks is a well-established provider of Magento-compatible products. For those seeking to add Subscription Sales options to their platform, they offer a well-conceived and well-executed option. Wide flexibility is offered for creating and altering Subscription Sales options from both the customer’s side of the transaction and from the seller’s side. Interfaces are clean and easy to navigate.

Here’s a view of the overview screen for managing subscriptions.

A look at a page that allows customers to monitor subscriptions they have chosen.

Skin-care site Lancer offers a good example of what Subscription Sales offerings can look like from the customer’s point of view.

Another plug-in option for managing Subscription Sales in Magento is Magenest’s Subscriptions & Recurring Payments tool. It offers similar functionality to the Aheadworks extension. It also includes a straightforward tool for allowing customers to set up subscription orders for customers who buy a product at regular intervals, which has become a particularly popular offering within the B2B sector. Plan flexibility appears to be a real strength with this plug-in.

BigCommerce Plug-In Options

Tools are available to support and fuel  eCommerce Subscription Sales in SAAS platforms like BigCommerce as well. The Aneto Subscriptions Manager plug-in for BigCommerce offers much of the same functionality as we’ve already seen from the Magento offerings.

Here’s a look at the overview screen for this plug-in.

The Aneto Subscriptions Manager plug-in brings key functionality that drives BigCommerce platform Subscription Sales success. eCommerce merchants are able to create multiple subscription packages and have the flexibility to divide product offerings up into grouped categories. Value offerings popular with customers such as the ability to include free products and discount coupons in your packages are other capabilities included with this plug-in.

Conclusion

Subscription Sales Models show few signs of slowing down as a growing sector in the eCommerce landscape. Data from the Subscribed Institute showed that in 2020, the subscription sales sector grew 11.6%, including accelerating to a 21% growth rate in the fourth quarter of the year. If you haven’t done so already, you should consider how your eCommerce business could add Subscription Sales to your offerings. Please contact us for assistance in getting your subscription functionality set up and running.

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Perfect Page, Poor Traffic? Why Site Speed Matters

Perfect Page, Poor Traffic? Why Site Speed Matters

Having a fast-loading, high-performance website is crucial to your eCommerce business. But why? Because the speed of your page plays a vital role in your conversions, user experience, and Search Ranking. Unfortunately, too many website owners place a priority on having too many bells and whistles and an overly sophisticated website design, both of which slow your site, instead of focusing on performance. 

Think about it like this. If you go to sit down for a meal at a restaurant, slow service from the waiter often results in poor reviews and fewer return visits. Similarly, when you sit down to browse a website, slow service can drive you away and potentially steer you towards a competitor. If it’s annoying for you to wait for dinner at a restaurant or for a website to load, think about how your site visitors feel. 

In this blog, we will discuss some best practices to ensure your eCommerce site speed is not hurting your search rankings, users’ experience, site traffic, and conversion rate. But first, it is important to understand what site speed is and how to measure it.   

Site Speed Defined

CSite speed often referred to as Site Performance or page speed, is how quickly your eCommerce browser can load fully. Poorly performing sites that render slowly in a browser can drive users away. Conversely, sites that load quickly will typically receive more traffic and have better conversion rates. 

Why Your Website Speed Matters

Your site speed is important for the overall user experience you are trying to create. If your site takes a long time to load you will tend to have a higher bounce rate and lower average time spent on your site due to this low speed. The example below from Google shows how longer load times have been shown to affect your conversion and bounce rates negatively.

Speed Test Tool Recommendations to Help Your Site’s Performance

Before you can begin to make any fixes, you first need to know where your site is in terms of speed. The speed that you need to be looking at is your time to first byte (TTFB). This determines the time the server sends your browser’s very first byte; which Google states should be 200 ms or less. You can easily measure your TTFB and other speed metrics by using a load time testing site. Below are some that can help you with this:

Each of these tools will assign a score to your site based on Google recommendations and provide you with tips on improving your site’s performance.  When it comes to site speed testing, it’s important to pick one tool and stick with it. Each has its own set of different metrics and therefore you can’t compare one tool’s test results to another. In addition, you should run multiple tests to ensure that your results continue to improve your user’s experience.

Factors Affecting Your Site’s Speed

Your site speed relies on many factors and determining which of them are affecting it will help you improve its speed and ranking. Here are some of the most common problems that prevent sites from loading faster and lead to potential customer loss. 

Compressing/optimizing large images: Loading large images is one of the main issues to cause your site to run slow, especially for mobile users. You can use Gzip, a software application for file compression, to reduce the size of your CSS, HTML, and JavaScript files that are larger than 150 bytes. Such services will result in compression without loss of quality, and therefore your users will not even notice the difference in their experience if using a desktop versus mobile.

Reduce redirects: Each time your page redirects a user to another page, it increases their waiting time. Reducing your redirects will help reduce the HTTP request-response to complete and speed up your site page.

Reduce themes and plugins: The more widgets and plugins you utilize on your site, the longer it takes to load them. First, make sure you are only using the ones that you truly need. You’ll often find that Developers and untrained team members may have left Themes and Plugins operational that no longer serve your benefit. Second, if you are using a WordPress template, try to keep it simple and only use Plugins created by reputable WordPress sources that have been recently updated, such as Cornerstone 4.0.

Improve server response time: The optimal server response time is under 200ms and should be constant over multiple users. A response time beyond 200 ms is a sign that requires something to be fixed. To improve your server response time, you can either pay for new servers and equipment which could get expensive and still not solve the problem or you can look for performance bottlenecks like slow database queries, slow routing, or a lack of adequate memory and fix them.

Use a content distribution network: Content distribution networks (CDNs), also called content delivery networks, are networks of servers that work together to provide fast delivery of your site’s content. A CDN allows for the quick transfer of assets needed for loading Internet content including HTML pages, javascript files, stylesheets, images, and videos. While a CDN does not host content and can’t replace the need for proper web hosting, it does help cache content at the network edge, which improves your website performance.

Poor hosting location: the hosting company and server that you decide to use to store your website can have an impact on your site speed. Therefore, it is important you choose a host where all of your assets can be housed in one location and a plan that matches the needs of your website. If your data has to travel a significant distance to arrive where it is needed, this results in a high amount of network latency. For instance, if a website’s HTML and CSS files are hosted in a data center in Ohio, and its images are hosted in a data center in Florida, a user on the west coast will have to wait while all of these files travel thousands of miles to their device.

Bringing it All Together

Your site speed has a vital role in generating traffic. The factors that affect that traffic generation are interlinked with one another. If you find that your site is taking too long to load, don’t panic. We can help you to determine any factors that might be affecting that speed to increase your clientele, improve your user experience, retain existing users, and increase your conversion rate. 

Ready to streamline your site’s performance?

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Marry Your Customers:  Subscription Sales Lock up Long-Term Success

Marry Your Customers: Subscription Sales Lock up Long-Term Success

Why do people get married? Love is the obvious answer, but a number of other pragmatic factors play into it, as well. You just realize it is the best fit for you in so many ways going forward, and you choose to formalize the long-term arrangement.

Long-term relationships driven by the same dynamics can similarly blossom between eCommerce vendors and their best customers. Those “marriages” come in the form of a  Subscription Sales Model.

Almost everyone recognizes this model, even if you don’t know it by name. Dollar Shave Club enjoys huge sales as a Subscription Sales business. So do dozens of other brands like BarkBox and Blue Apron.

You may already be having substantial eCommerce success. But do you know how to add on to your existing business by embracing this emerging, lucrative channel? With the right eCommerce platform in combination with the right expertise, it can be easier than you think.

Growth Through the Roof

Conceived of and executed properly, adding a Subscription Sales option for your customer base delivers efficiency and satisfaction to both seller and buyer. According to Zuora’s Subscription Economy Index, subscription business revenue has grown 437% over the last nine years. That kind of growth, made possible by improving eCommerce models and technology, only results from an idea whose time has come.

So how can you tap into that model from your current eCommerce efforts?

Build from Strength

The search for answers begins by identifying the core parts of your business where results are strong and opportunities are apparent for regular, recurring sales. Those areas produce proven demand, and they mark the sweet spot of opportunity in the market that you can build from. The fundamentals of the value of your product and what you offer that others can’t match become the foundation for Subscription Sales successes.

Adding a successful Subscription Sales component to your eCommerce menu can feel like a trip to the promised land – it becomes a recurring revenue stream that makes customers happy and, once operational, requires little additional management oversight.

Identifying Key Functions

Settling on a pricing model that works efficiently for you and appeals to your customers may be the biggest decision that will determine your success in this process. There is no “one size fits all” option. The four most-common Subscription Sales pricing models, according to ProfitWell include:

  • Fixed/flat-rate model
  • Tiered pricing model
  • Per unit/user model
  • Usage model

What choice you make that fits best with your business operations and the products and services you offer within that selection are your business – literally. You need to make these decisions, though, with an eye to what makes the arrangement easiest for your customers while at the same time not putting you in a position to have to completely reinvent your existing business operations.

Keeping Your House in Order

If you are up and running as an eCommerce merchant already, you have made arrangements to address essential business functions. Ideally, you want the decisions you are making while implementing  your Subscription Sales offering to be compatible with how you handle those functions currently, and also to fit in smoothly with the software platform that is the foundation for your eCommerce site.

Finding the right Subscription Sales model that will integrate with operational areas like inventory control, customer data management, billing and payment options will go a long way in determining just how much benefit this new arrangement will produce for you.As a sampling of the many ways these areas can interact and produce benefits for your business, Quora has identified nine key areas that all impact how you proceed. Reviewing these,  you’ll notice how interrelated they all are as the questions that underpin eCommerce in any form. Offering Subscription Sales gives you a chance to consider the relationships in these areas if they could be in optimal alignment so you could offer your best service levels to your best customers.

Making It eCommerce

Once you commit to pursuing a Subscription Sales offering, you’ll need to look at one final major question: How will this work from the perspective of how you are doing things now?

If your operation currently runs on a platform that is open source or an SAAS offering, you have options for taking that last step to joining the ranks of Subscription Sales providers. In Part Two of this blog, we’ll discuss what those options are and what factors can help you make the best decision for your continuing eCommerce success. 

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Cryptocurrency Potential: Loyal Users, Instant Payments and Low Fees

Cryptocurrency Potential: Loyal Users, Instant Payments and Low Fees

Interest in cryptocurrency is growing, and fast. With some major brands like Visa recently announcing their adoption of this digital payment method, it is getting harder to ignore the impact crypto and blockchain technology could have on your eCommerce business.

Whether you’re just starting to learn about cryptocurrency or exploring how to accept this method of payment in your online store, it is important to keep on top of the trend that is unfolding. After all, awareness and understanding could help forge a valuable opportunity for your business in the future.

While some retailers might be skeptical about accepting crypto as they see it as a risk to their business, some see it as an opportunity to increase their bottom line. In this blog, we’ll explore the benefits and drawbacks that cryptocurrency presents, while also taking a look at how to accept them as payment on your online store.

Before diving into the pros and cons, it is imperative to first know what cryptocurrency is and why it is growing in popularity around the globe.

What exactly is cryptocurrency?

Cryptocurrency is decentralized digital money, based on blockchain technology. Unlike the U.S. Dollar or the Euro, there is no central authority, like banks or governments, that manages and maintains the value of a cryptocurrency. Instead, these tasks are broadly distributed among a cryptocurrency’s users via the internet; which is part of why it is growing in popularity with corporations around the globe.

The cryptocurrency that started them all, is the one you are probably the most familiar with, Bitcoin; which was created in 2009 in a bid to decentralize the financial sector. Up until 2011, it was the only cryptocurrency in operation, but there are now more than 5,000 different cryptocurrencies in worldwide circulation, according to CoinLore. Some of the most noteworthy ones you might want to be aware of include Ethereum, Litecoin, and the living meme Dogecoin.

Cryptocurrency and the technology behind it are gaining traction in the eCommerce industry, and fast. But what are the benefits you should be aware of when considering accepting this type of payment on your online store?

Key benefits for considering cryptocurrency

A lot of trends come and go, but crypto seems likely here to stay, in some form. Not only can it help your eCommerce business expand its customer base but it can also increase its target audience, streamline your customer experiences, and more.

  • Fast transactions + user checkout experience smoother: Blockchain, the technology behind cryptocurrency, is a distributed ledger that allows for quicker, more direct transactions that can help streamline your business cash flow. And for consumers, the immediate processing of cryptocurrency means orders can be shipped instantaneously and arrive sooner. Let’s walk you through an example. You are considering purchasing an SUV from a dealership. If you want to pay for your new vehicle the conventional way with cash or a credit card, you would have to deal with a financial institution; which comes with a lot of potential frustrations and wait time. However, if you choose to pay with a cryptocurrency, not only is it convenient and secure, but there is no middle man, no hold on the transaction and the payment is transferred instantaneously. This is already happening at independent dealerships around the country as customers are paying in full for their vehicles, instantly with cryptocurrency. 
  • Increase in traffic + opportunity to widen target audience: While many people buy cryptocurrencies as an investment instead of an actual payment method, others love buying products with cryptocurrencies because of the lower costs associated, more secure checkout, and the ability to have full control over their funds. By embracing crypto transactions you can widen your target market to these buyers leading to an increase in new customer traffic. It will also make it easier if you are looking to expand globally since crypto is not tied to a specific country’s exchange rate. This allows you to sell to merchants no matter where they are in the world with a single digital standard.
  • Lower transaction fees compared to other options: The industry standard transaction fee from third-party gateways is normally 2.9% + $0.30. This fee is significantly reduced for cryptocurrencies to 1% if not lower; which is good news for you and your bottom line as it can help make your business more profitable.
  • Clean, secure data: Blockchain technology not only increases accuracy but also decreases fraud. Unlike most traditional financial institutions, crypto transactional and consumer data is never saved on a single centralized service making it very difficult to steal or counterfeit. Also, crypto transactions do not require customers to input personal identifying information, which reduces the risk of fraud in digital transactions. You might find this beneficial for your marketing efforts. It might also help to avoid wasted spending.
  • Crypto users are also very very loyal: The flexibility of having this payment option on your site enables customers to pay the way they want to, which provides a better all-around shopping experience and helps to increase conversion rates and reduce cart abandonment.
  • Rise in value: Some of you might see the volatility of cryptocurrencies as a risk, which we will go into more depth in the next section, whereas some might see it as an opportunity for growth. The pie graph below from CoinMarketCap is just one example of how quickly Bitcoin, one of the most popular cryptocurrencies, has risen in value over the last couple of years:

Potential Setbacks of Incorporating Cryptocurrency Are Low

Despite cryptocurrencies being the latest trend in the online retail sector, there are pitfalls and reasons to be skeptical.

  • Price volatility: We mentioned above that cryptocurrencies are currently on the rise in value, but the uncertainty of whether that upward trend will continue poses a risk for both businesses and consumers. In addition, if the value of a cryptocurrency has fluctuated since the time a consumer purchases and returns a product, things could get tricky.
  • Customer confusion: According to a survey by Cardify, only 17% of investors that have bought cryptocurrency “fully understand” the value and potential of cryptocurrency. Not only do customers not fully understand the value, but they don’t understand how to use them. For instance, most consumers see cryptocurrency as an investment instead of an exchangeable asset. This perception will start to shift itself as more companies start incorporating crypto as a payment option similar to Tesla and Visa.

Payment Gateways Options for Accepting Cryptocurrency on Your Site

If you are considering accepting cryptocurrency on your site, here are some options to think about:

Magento 2 Payment Processing Service Options: ShapeShift is the newest third-party service offered on Magento 2 that processes transactions on your behalf. It aims to provide a fast, private and convenient way of swapping cryptocurrencies. This payment method allows you to accept Bitcoins, Ethereum, Litecoin, and over 300 other digital currency options.

Shopify Payment Processing Service Option: BitPay automatically converts payments to a currency of your choice (eight currencies available) and sends them directly to your bank account. A couple of cons of using BitPay is that they charge a relatively high transaction fee of 1%; which you will not see with ShapeShift and they only accept Bitcoin.

BigCommerce is also looking into developing an app that accepts crypto. Be sure to keep an eye on their progress in the event it meets your needs.

Bringing it All Together

If you are looking to expand your market share while also offering your customers a faster and more secure way to pay for your products and services, cryptocurrency could be the answer.

Keeping up-to-date with this trend will help you to adapt your eCommerce strategy quickly and get ahead of the competition. Ready to take your eCommerce site to the next level and incorporate cryptocurrency as a digital payment option? Connect with one of our experts today to discuss your needs!

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More Time is Needed; Google Delays Cookie Withdraw

More Time is Needed; Google Delays Cookie Withdraw

For those unaware, in January 2020, Google first announced a plan to stop support for third-party cookies, which advertisers use to track users and target them with ads. The company said the plan, which originally had a “two-year” deadline, was to replace third-party cookies with more privacy-conscious technologies.

On Thursday, June 24, 2021 however, Google announced it was pushing back its original timeline of the Privacy Sandbox initiative to kill third-party tracking cookies in Chrome from 2022 to 2023. This will give users, publishers, and digital advertisers more time to plan for more privacy-conscious targeted ads and workarounds. 

The delay comes after Google pledged to give oversight of the cookie changes to the UK’s antitrust watchdog.

In his latest blog post, Vinay Goel, Engineer Director of Google Privacy said, “while there’s considerable progress with this initiative, it’s become clear that more time is needed across the ecosystem to get this right.”

Despite this extension, other browsers such as Safari and Firefox have already implemented some default blocking against third-party tracking cookies. This emphasizes that it’s never too early to start your plan of action for when third-party cookies are removed from Chrome.

End of Third Party Cookies Updated Timeline

Google has now set out an extended timeline for the forthcoming changes. These changes will occur over a three-month period by the end of 2023.

  • Stage one is expected to start in late 2022 and last for a duration of nine months giving publishers, advertisers, and ad tech vendors time to migrate their services to work with new cookieless technologies.
  • The next stage marks the beginning of the end for third-party cookies, expected to start in mid-2023 and finish later that year.

“We must take time to evaluate the new technologies, gather feedback and iterate to ensure they meet our goals for both privacy and performance and give all developers time to follow the best path for privacy,” Goel concluded.

Google and other online ad industry players have been experimenting with new application programming interfaces (APIs), designed to prevent the tracking of individual users while still allowing advertisers to target clusters of people by their interests and measure the effectiveness of their campaigns.

Along the way, Google has promised to partake in transparent discussions and incorporate feedback from external parties including web developers, advertisers, publishers, and regulators. Competition watchdogs have also made it clear to Google that they want to be briefed on the changes. Google responded and offered to give the UK’s Competition and Markets Authority oversight of its plans to roll out technologies from the Privacy Sandbox, including offering the watchdog a 60-day “standstill period” before it introduces any changes.

Reactions from the industry

Google’s initiative to kill third-party cookies in Chrome has been met by resistance from the tech industry, especially from marketers and advertising agencies who are worried that the blanket stop to third-party cookies will hurt the internet economy and start-ups. 

Early during the week of June 24th, the European Union opened an antitrust probe into Google’s advertising practices, including the company’s plans to phase out cookies in Chrome.

Simon Andrews, founder of the mobile marketing consultancy Addictive, said while a large portion of online ad businesses mistrusts Google, the industry needs to reach a consensus around building new privacy-focused solutions that are usable for all the players across the sector.

Have questions about whether or not your cookie game is up to date? Contact the pros at InteractOne to learn more.

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Stuck with a Supply Shortage? How to Keep Customers Happy During Disruptions

Stuck with a Supply Shortage? How to Keep Customers Happy During Disruptions

“Disruption” is a painful and ugly word anywhere in business, but particularly if you are in the world of eCommerce. Often, customers turn to eCommerce brands  because of the perceived convenience factor that comes with shopping online. But as an eCommerce merchant, what position are you in if supply chain trouble is beyond your control and is affecting your ability to fulfill orders?

COVID repercussions, the Colonial pipeline ransomware attack and even an immense cargo ship becoming wedged in the Suez Canal are all recent examples of a world experiencing uncertainty and delays as it seeks to get back to the normal we used to know. The threat of a disruptive crisis won’t ever go away, but there are smart precautions you can take to protect your customer from the worst impacts of the unexpected.

In this blog, we’ll offer tips for you that can keep disruption to your business from unraveling to the point of chaos.

It’s Still True: Forewarned is Forearmed

Most disruptive events usually have some lag time before they reach a supply chain. Being able to take advantage of even a little lead time can be a saving grace for your eCommerce operations.

If your sales strategy involves campaigns or specials, that is particularly dangerous terrain if it becomes clear that outside events are going to impact your ability to deliver. Promoting a product heading into a shortage is just throwing the door wide open to creating dissatisfied customers. When it comes to sales strategy, you need to make sure all decision-makers are on the alert for disruptive events. It would also be wise to establish a process, if you don’t already have one, for sharing red-alert information appropriately across all segments of your operation if a sudden supply issue is forming for your near-future. Market giants like Amazon are digging in hard to adapt to this mode . There’s a very good chance your eCommerce operation needs to be considering the same factors.

Be Ready with Alternatives

It’s a slippery slope if a popular mainstay product suddenly comes into short supply because of an outside event. Well-established eCommerce sites can speak from experience that customers expecting a product delivery don’t have much patience for any excuse, no matter how valid the reason may truly be. However, you can minimize this kind of trouble by being the best kind of manager for your site.

If you’ve ever been in a brick-and-mortar hardware store and come in seeking a solution to an urgent problem at home, you may have left that store holding it in even higher regard if a knowledgeable employee took the time to listen to you and then was able to recommend an even more effective alternative you were unaware of that addressed your problem. This mindset applies to digital storefronts as well. If you have developed a flexible and responsive eCommerce platform to operate from, you should have the ability to create messaging to let customers know when they encounter a popular out-of-stock item what alternative options you do have in stock that could work as a substitute. The customer may be unaware of that item or not thinking of it in terms as being a suitable alternative – if you unexpectedly fill that role for them, like the hardware store example above, you have a chance to strengthen that customer’s loyalty to your brand.

Embrace Their Problem By Helping to Own It

If no other product but the one that has been impacted by supply problems will do, strive not to just leave the customer out in the cold. If you have an expectation on when a product is likely to be back in stock, be conservative in how you deliver that information, but also if your site has the flexibility to do so, let the customer know the time frame of when you expect to have the product back in inventory. Out-of-stock events happen even in normal times and it’s estimated that when they do, it costs retailers across all channels up to $1 trillion in lost sales per year.

Even better, if your platform has the capacity on a permanent basis to capture individual customer information and preferences, investigate whether or not you have the capability to set up an alert system for the product. Promise the customer if they leave necessary information such as their name and email address, you will notify them promptly as soon as the product does become available.

The customer wins by feeling like they have at least taken one positive step towards securing a product they have a strong need for, and you win by gaining the information that not only does this customer purchase this item, but that it is a high-priority item for them. You could even turn it into a goodwill opportunity in the future, at a time when the product is back in regular supply, to offer it back to the customer at a discount as a special, acknowledging their previous painful experience. Finally, don’t forget to recognize the universality of the problem – once the supply issue starts to clear up, there will be untold number of potential customers who were missing the product for every one that you know about and can contact. Promote a restoration of product supply on your site and in your email/social media efforts. P % Co. has a great example of this. 

Not All Supply Chain Issues are Created the Same

Once you have your whole operation on alert about the acute issues caused by supply disruptions, you need continued vigilance throughout the operation as to opportunities to mitigate the problem.

Although both are likely based on logistics and transportation, an inbound supply problem can have a different solution than an outbound supply problem. Make sure your back office is looking for opportunities to clear up supply issues through all means possible. Optimally, you would rather not have to dig down into the dirt to alleviate such detail-related issues, but being unable to supply a popular item is not an optimal situation. Other companies already understand they need to do this. If you have your staff on alert for potential work-around solutions and it pays off, you’ve got a chance again to please a customer through demonstrating extraordinary effort.

Shortages for Retailers Can Be Opportunities for Etailers

A final key point is to not lose sight when a widespread product supply issue develops:you  have natural advantages by being engaged in eCommerce. Short-supply products almost always have some availability somewhere. The impacts of the pandemic over the last year have already shifted buying habits in a favorable direction for eCommerce in many sectors.

As an eCommerce brand, you aren’t tied to an operation in a fixed location. Look for opportunities to exploit that edge, and when they are solidified, don’t be shy about promoting that information on your eCommerce platform.

Conclusion

You can’t stop supply-chain disruptions from cropping up. But you can be better prepared for them. Proper planning, dexterity throughout your operations and knowing how to best utilize the flexibility built into your eCommerce platform to help customers navigate these episodes are all important solutions to be aware of as you look to keep your site’s reputation as stellar as possible for your valued customers.

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