Posts Tagged ‘e-commerce’

How to increase your sales and customer satisfactions with cross selling

Friday, June 17th, 2011

Unless you are constantly innovating and upgrading your products, it is difficult to sell the same products to the same customer several times. Besides, the more a client buys from a vendor, the higher the switching cost is.

 

The goal for every merchant is to sell more, and we know this is a difficult task. In order to improve your online conversion and client loyalty rates, you must implement many different promotional strategies. Recently we discussed How to Structure an Online Coupon Profitably, and today we will focus on cross-selling techniques.

 

Cross selling is a merchandising tool consisting of offering similar or complementary products to what the shopper is looking at. Cross selling allows vendors to bundle products, or offer any combinable accessory enhancing the value of the purchase. It gives the vendor the ability to suggest to the buyer more products at the right time. While in the offline world this could sounds rather obvious, this technique can really make a difference for online merchants because cross selling will allow them to imitate a sales person or a personal shopper assistant.

 

The main objectives of cross-selling are to enhance order completion as well as increase average sale spend due to customers adding accessories or extra products to their original selection. Moreover, many merchants use cross selling capabilities to promote popular items, target high margin products, show to the customers a wider range of goods and as a result trigger impulse purchases.


The benefits of putting in practice cross-selling techniques are clear:

  1. You can substantially increase your revenue by selling complimentary products in addition to the initial purchase,
  2. You can increase the lifetime value as well as the average order size,
  3. You can guide customers throughout your e-store adding value to their purchase,
  4. You increase your customers’ purchase experience

 

Suggest to the buyer the right product at the right time.

There are many places in your website to displays cross-selling options: home page, product page, shopping cart view, checkout page or even after the order is done. There are also many different forms to do it: under the product page, in a side banner, as a pop-up, in an extra page before/after the check-out. The best placement will depend on your website design the length of the product page and your customers’ behavior.

 

Some customers really enjoy cross-selling options because they feel a personal shopper is helping them. However, these techniques –above all the use of pop-ups or forcing your customers to view the cross selling suggestions- can be perceived as an obstacle to finalize the buying process.

 

Make your add-ons valuable for the customer by:

-          Showing relevant products

-          Providing enough information (picture, price and description)

-          Keeping customers in the shopping path

-          Using direct and emotional language

-          Not cluttering the page

 

See an example here:

 

 

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An Overview of the Software Industry Online

Friday, March 18th, 2011
Gate2Shop Software Industry Overview  

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Gate2Shop gets access to 80+ countries with Atlas.

Tuesday, November 30th, 2010

We have joined forces with Atlas Interactive to offer a better solution to all our gaming, social media and virtual world clients. With this latest partnership we strive to achieve full international coverage in terms of mobile payments and allow end-customers to pay for their products the way they want to.

Our bet is you can’t wait to get your hand on the company phone and pay for some of your favorite social games. Or better yet, have your customers pay exactly that way… :)

Gate2Shop featured in the Nilson Report.

Wednesday, November 10th, 2010

Gate2Shop contributed to the 998 edition of the Nilson Report, the leasing publication covering payment systems worldwide. Our team was recognized due to the custom solution delivered to fring, a company that raveled the VoIP industry.

Gate2Shop is to sponsor and speak at the Flash GAMM 2010 conference!

Tuesday, November 9th, 2010

Flash GAMM is a professional gathering, where detailed lectures are held by some of the key professionals in the games industry. Participants can have a chance to communicate closely with potential partners and sit at seminars covering various topics including flash design, flash payments, game design, monetization, legal barriers and many more. This year edition will take place in Kyiv, Ukraine on December, 4-5.


Yuval Ziv, the COO at Gate2Shop, will be there to discuss and shed light on conversion strategies and more specifically how to turn players into payers. The lecture will include specific case studies and examples on how online merchants can achieve higher conversion, what the most important things that a merchant must know are and what the ones that have to be avoided are. In addition to the conversion itself, flash payments and how to apply them will also be covered.

Gate2Shop has Poland and Romania Covered in terms of Currencies

Thursday, October 14th, 2010

Gate2Shop has added support for two new currencies to its long list – Polish Zloty (PLN) and Romanian Leu (RON). With the addition of these processing currencies gaming, software and digital goods vendors will be able to expand their target market and avoid excessive exchange rates. As part of its ecommerce suite Gate2Shop also provides and supports back-office processes and functions such as online and offline financial reporting, fraud prevention, affiliate support and tracking, customer service, dispute management and payment page optimization.

Mopay and Gate2Shop provide mobile payments.

Wednesday, September 15th, 2010

Hello, ladies and gents! Did you know that mopay had teamed with Gate2Shop?


We have integrated with mopay, a leading provider of mobile payment solutions worldwide, to deliver a payment option especially designed to reach unbanked and underserved consumers i.e. people who do not want to use their credit cards and bank accounts have a way to pay now.


With this latest addition to our payment options portfolio, Gate2Shop addresses a current trend: mobile payments for digital and virtual goods. Having mopay on board will allow us to offer mobile payments in over 60 countries at a very competitive rate, frequent payouts and high conversion rates.


We are very pleased to announce this special partnership and believe that mobile payments can compete and even one day outpace other payment options when it comes to ease of use, conversion rates and of course, penetration rate. Whenever two established and experienced players like Gate2Shop and mopay team up, the results will be best in class.

Pro-Activity Pays

Thursday, August 26th, 2010

In today’s business world the final measurement of success comes down to the conversion of the proverbial window shoppers and the completion of the final transaction. In the mean time experts from all industries and fields are making their mark and profiting on a large scale. These experts are taking advantage of the lack of success by some by promising increased conversion rates and performance of their businesses. Realistically the major part of businesses today can increase their individual productivity by practicing more pro-active business practices.

Read More ….

Promotional Features (Coupons, Cross-sale, etc.) when selling software online

Wednesday, August 18th, 2010

With the complexity of competing in the online industry during these extremely tough financial times, finding the perfect combination of solutions to provide for selling software online can be hard. The best alternative today is to select an e-commerce service provider with resources to best compliment your particular business model. Selling software online presents different challenges than some so the service provider should be able to offer more than just payment options. To provide a comprehensive service for this business model, research e-commerce platform providers; they offer more than a list of global payment methods but also provide an edge in an extremely competitive market. While conducting business throughout the world, vendors need a service provider that can provide a more complete e-commerce solution to work with the growing market.

Promotional features offered by e-commerce service providers offer powerful features that allow the online vendor the ability to design and promote their individual sale promotions and to manage the marketing of their products or services. With the software industry specifically, the use of this feature will perfectly compliment various promotions. By correlating the vendor’s products in the payment page administration area and with marketing tools complete control is obtained for each marketing endeavor.

Some of the control panels that are offered to vendors contain features or tools that differ greatly from provider to provider, so the research into these must be conducted in detail. The more complete e-commerce platform will provide:

•Promotional coupons – This can increase the sales of merchandise simply by offering additional products or services at a reduced rate within a certain time frame or with no time restrictions.

•Up-selling and Cross-selling tools – This gives the vendor the opportunity to increase sales online and the end user to purchase the products that they want by either combining them in bundles or substituting them with higher-priced ones.

•One Click Payment – One Click Payment allows repetitive customers to make online purchases with a single click. For returning customers this feature allows them to make further purchases without having to re-enter credit card information. This information is securely stored on the PCI certified system of G2S.

•Integration Assistant – This feature simplifies generating the script needed to create the Buy Now and Subscribe Now buttons so that with a simple copy and paste the generated script into the web page and the buttons will be ready to use. Once selected, the product and even the discount is applied directly to the payment page.

As you can see, these dynamic features when included into the control panel can have a great impact on sale promotions, and at the same time they can reduce the overall investment into extensive integration time and costs. These features are designed not only for the software industry but are highly useful for membership, digital content and many other applications.

ISDEF 2010

Wednesday, August 11th, 2010

September 30th – October 3rd 2010
Moscow, Russia

ISDEF 2010, the ninth annual fall conference organized by the Independent Software Developers Forum (ISDEF), will take place at the Holiday Inn Vinogradovo in Moscow. The event will focus on the analysis of the international software market and the issues that IT companies currently face. The owners, top managers and leading professionals from various IT and Internet companies will be attending along with the marketing experts, journalists, consultants and representatives of Western and Russian investment funds and PR agencies.

This year Yuval Ziv G2S’s Chief Operations Officer will be speaking at the conference and will have the opportunity to meet many of the industries participating members. Gate2Shop is also proud to be sponsoring this year’s conference. These conferences provide the opportunity to gather knowledge and to network with other members of the electronic commerce business.

For further information or to arrange meetings with Yuval contact us at: dennisg@g2s.com or call us at +44 20 3051 0330