Author: chargeafterdev

KPIs (key performance indicators) refers to measurable digital marketing analytics that provides insight into the performance of various marketing activities. These quantifiable statistics offer an understanding of how consumers interact with eCommerce platforms and how much it costs to make sales or convert consumers. Improving the values of these KPIs can increase the profitability of your business as they each reflect a key area of digital marketing necessary to move consumers through the sales funnel. Below, we discuss the five best digital marketing KPIs to consider as well as a strategy to improve them.

1. Cost Per Click (CPC)

Cost per click refers to the cost that a business pays for a consumer action on paid media, specifically a click-through to the website, landing page, or another platform. Cost per click providers an oversight of the actual advertising budget spent to drive each consumer to the website. A lower cost per click means your advertising campaigns are more affordable and successful. It can indicate that your targeting is correct, your platform choices are appropriate, your media is attractive, and more. It is a great gauge of the quality of your search engine marketing and pay-per-click (PPC) campaigns. 

2. Cost Per Conversion

Cost per conversion refers to the more granular cost of the consumer actually purchasing your platform. This consumer, which would be within your CPC pool of consumers, needs additional incentives to drive a sale depending on where they are in the sales funnel. When looking at your cost per conversion, you should determine whether or not that cost to run a conversion campaign is profitable in comparison with the average order values during the campaign period. For example, if you spend $5 per conversion, you should receive over $5 at least for each order.

3. Return on Advertising Spend

The above consideration is especially important when looking at return on advertising spend. Advertising spend is only beneficial if your ads are driving profitable purchases. You can use this resource to learn how to calculate the return on advertising spend. With an idea of your ROAS, you can make executive decisions on how you would like to prioritize your advertising efforts. 

4. Monthly Website Traffic

Monthly website traffic is one of the most important organic KPIs to consider when assessing the performance of your platform. Monthly website traffics gives marketers an idea of the total traffic on a site, which can be compared month in and month out to determine if there are any problems with the site. For example, a dip in monthly traffic can indicate a drop in search rankings. This would suggest focusing on SEO in the coming months. Marketers can also see where the website traffic is coming from to make informed decisions regarding mobile-friendly content, geolocalized content, and more.

5. Average Session Duration

Business owners and their marketing teams should also look at how long consumers are spending on their websites. Average session duration refers to the length of time that a potential customer will spend on a specific page of the website. The longer they spend on the website, the more interested they are, and the more likely they will be to buy. Increasing average session durations can also positively impact your SEO as Google sees this KPI as an indication of the quality of your platform. 

How to Improve Your KPIs

One of the fastest ways to improve your KPIs is to introduce consumer financing from ChargeAfter. This powerful checkout plugin for online websites encourages consumers to make an order. It adds value to their shopping experience with your site by providing zero-interest loans instantly. Consumers are far more likely to engage with and buy from online stores that provide this incredibly beneficial customer-focused purchasing tool.

Want to learn more? Reach out to us here.

Running a successful online store requires business owners to adopt several strategies and integrate them into their eCommerce operations. There are an array of interesting tools to use to increase sales and one of the most influential modern tactics is upselling. Upselling is a marketing strategy that we will share more detail about in this guide, and we will also discuss how waterfall consumer financing can help support your upselling tactics. 

What is Upselling?

Upselling is a sales strategy that eCommerce stores implement to encourage consumers to purchase more expensive items when browsing online stores. Upselling is a technique that businesses use to increase the average sales values of their consumers. Upselling is also incredibly beneficial when it comes to selling to existing customers, who are far more likely to invest in expensive items than new customers. By promoting more frequent sales of costly products, upselling also has the potential to raise customer lifetime values. Customer lifetime values refer to the total spend of a customer on an online store for the duration of their buying cycle with that store. Increasing this value can have significant benefits for your profit margins.

Difference Between Upselling and Cross-selling

Upselling differs from cross-selling in the way that it encourages the purchase of more expensive or premium items. Take, for example, a paid subscription plan. Most sellers will encourage customers to purchase their more exclusive plans by promoting several benefits of these premium packages that the more basic options do not deliver. Cross-selling differs in the way that it does not promote more expensive items but items that pair well with a customer’s chosen product. For example, a customer buying shoes may be interested in purchasing a new set of laces or socks with those shoes. Cross-selling helps customers find those related products quickly.

Best Upselling Strategies

Upselling is an effective sales strategy that can generate greater revenue than other tactics, such as cross-selling. Below, we share some of the best upselling strategies to consider for your online store:

• Display recommendations at the bottom of a product page pointing towards more expensive items or premium products to encourage consumers to purchase these products.
• Utilize pop-ups as recommendations that appear during the checkout process of the consumer journey. These can be a great way to encourage consumers to change their minds after they have landed on a specific product.
• Follow-up emails can be sent to customers after a purchase to encourage them to shop again. You can personalize this form of marketing, offering products that may provide additional value to their lives based on their order history.
• You can incentivize customers to take advantage of your upselling offers by sharing discounts or rewards with them for doing so.
• You can allude to the potential downsides of not taking advantage of the upsell offers.

How Waterfall Consumer Financing Supports Upselling

Waterfall consumer financing can support your upselling strategies. Waterfall consumer financings as a service is an integration that enables customers to access financial support at checkout. They can apply for loans without having to undergo credit checks or leave your online store. One of the main benefits of waterfall consumer financing is that it encourages customers to purchase more expensive items. It enables them to easily access the financing necessary to order premium products. 

Upselling is a strategy to implement in your online store. It is a great way to increase customer lifetime values and generate more profit. With the addition of waterfall consumer financing, you can see improvements to your average order values and enjoy a greater return on marketing investment.

Want to learn more? Reach out to us here.

Running an eCommerce store comes with many challenges. From attracting new consumers to keeping them engaged and converting them into returning customers, there are several hurdles to jump on your way to becoming one of the best online stores in your industry. In the world of online selling, it is important that businesses utilize new tools to gain a competitive advantage. One such tool is online POS financing, a solution from leading fintech providers that enables customers to buy more easily from your online platform.

POS financing is a powerful integration that benefits the consumer by allowing them to make purchases more efficiently and affordably and also benefits businesses by increasing conversion rates and customer lifetime values. In this article, we discuss the reasons that you need to consider integrating online POS financing for your eCommerce platform. 

1. Competitors Are Using POS Financing

If you have not integrated POS financing online, then you are missing out on consumers shopping with eCommerce platforms that already have the integration. Online or BNPL financing is proving invaluable and many online stores are utilizing the feature. Without it, you run the risk of losing customers to these online stores. This is because BNPL financing offers a number of appealing consumer benefits. eCommerce platforms that take advantage of the benefits of BNPL financing are attracting more consumers than ever before, bridging the gap between the best and all the other online stores operating in the competitive digital retail space.

2. Customers Are Abandoning Their Carts

While you may have traffic on your website, that does not guarantee that consumers are converting. Many online stores suffer from high abandon cart rates, an indication that consumers do not have many incentives to make a purchase. If your abandon cart rates are high, you should consider integrating BNPL financing. BNPL financing can greatly reduce your abandon cart rates by encouraging purchases. The ability to receive on-demand financing for purchases at the push of a button is a very appealing prospect for the modern consumer. This feature is a great way of closing a sale and, therefore, increasing the rate at which customers actively move through the checkout process in the consumer journey.

3. Consumers Are Losing Interest

Customers are drawn to online stores that provide new and modern features. Online POS financing is a novel integration that showcases a brand’s desire to push the boundaries of online shopping. As a result, businesses that use BNPL financing online attract consumer interest. New customers that arrive on these eCommerce platforms are eager to purchase using the new features, taking advantage of the ample benefits associated with online BNPL financing.

4. Customers Are Not Buying Again

Customer retention is a critical aspect of running a successful online store. Keeping customers actively shopping is far less costly than acquiring new customers. Therefore, another advantage of introducing BNPL financing online is that it is an appealing selling point to keep consumers engaged for longer. Online stores that offer BNPL financing online benefit long-term customers by consistently keeping them coming back for more of the feature. Customers who shop with stores with online financing can confidently purchase multiple times, acquiring their orders and moving through the sales funnel more frequently. This can have a significant impact on your revenue generation as your return on investment is greater with return customers utilizing this financing option. 

BNPL financing online is a great addition to your eCommerce platform that can help you circumnavigate typical problems associated with online selling. BNPL financing can help you stay ahead of the competition, reduce abandon cart rates, keep customers interested, and keep shoppers returning to make more purchases. 

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eCommerce stores and their owners can benefit greatly from a deeper understanding of their customers. From the ways in which customers interact with an online store to how they filter through the sales funnel, developing a clear roadmap of the shopping experience generates insights for optimization and online store improvements. Understanding the five stages of the consumer journey allows businesses to map out the behavior of their customers. Furthermore, it pinpoints areas to focus on and how the integration of new tools like online financing can drive sales at particular points of the consumer journey.

1. Awareness Stage

The awareness stage refers to the first step that consumers take to become aware of a particular brand and the products that they sell online. In this stage, the consumer has a problem that they wish to resolve in their lives by acquiring products that can remedy their pain points. This is what we call a navigational stage as consumers begin to search Google for answers to their problems. They may, for example, search ‘how to fix my television set’. Through the creation of targeted blogs and landing pages, you can provide content to answer this search intent. This brings consumer awareness to your brand and the ability to resolve their problems. 

2. Consideration Stage

Once consumers are aware of your brand and the products that you sell, they move into the consideration stage. In this stage, they show an active interest in your products and compare them to similar products sold by other eCommerce stores. For example, they may arrive at your blog on how to fix their television set and see promotional material advertising the new televisions that you sell. This promotional material can entice them to purchase a new television or electronics from your store as opposed to trying to fix their old television set. They will, at this stage, compare the televisions and electronics that you sell with those that other stores sell. They will be looking at the prices of your products, online reviews from other people who have purchased your products, FAQs, and delivery information to make their decision.

3. Purchase Stage

The purchase stage, or decision stage, is where the consumer makes the final call whether or not to buy products from your store. They may choose to buy, moving through to the next stage of the consumer journey or they may still look for added value to entice a purchase. For example, the integration of online financing can support the purchase stage. This added value offering provides consumers with cost-effective financing enabling them to purchase expensive products, such as a new television. If your competitors do not offer online financing, then you are likely to land the sale. 

4. Retention Stage 

Once customers have purchased from your store, they move into the retention stage. During the checkout process, you will have likely asked them for their email address or other contact information to facilitate the fulfillment of their order. They then become part of your email list and you can keep consumers interested through a customer retention strategy. You may, for example, ask for feedback, send discounts, or offer VIP programs to retain consumers and convert them to return customers. 

5. Advocacy Stage

Customers that are particularly satisfied with your products and service delivery move into the advocacy stage. These customers become brand advocates that share their positive experiences with other customers online as well as with their friends and family. They will actively leave positive reviews and join your brand community as they positively associate your brand with the values that you represent. 

Customers move through five stages of the consumer journey when shopping with eCommerce platforms; the awareness, consideration, purchase, retention, and advocacy stages. Assessing each consumer’s movement through these stages and integrating tools to facilitate a seamless consumer journey, such as partnering with a leading online financing company, will help you drive sales and generate revenue.

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In order to run a successful online store, you need to ensure that you first have enough traffic flow to your website. Without a consistent source of returning and new customers visiting your site, you will begin to lose out on the potential of converting shoppers. This is especially important when considering that only a fraction of those that browse your website will actually buy a product. In the modern age of digital marketing, increasing the reach of your website is a key objective to yielding profitable success. In this article, we discuss how your online store that integrates consumer financing from ChargeAfter can improve traffic flow and increase sales. 

1. Create SEO Content for Consumers

Content is a great way to attract new consumers and keep existing customers engaged with your brand. But, creating content is only half of the activity. You also need to ensure that the content that you deliver is optimized for Google. SEO refers to search engine optimization, a process whereby you make content crawlable and indexable by Google. In doing so, Google is able to deliver that content to users when they enter specific inputs into the search engine. With better SEO content, you are more likely to appear higher on the search engine results page (SERP). This is great for traffic flow as discoverability plays an imperative role in how consumers find your website. Great SEO content can come in the form of blog posts, optimized YouTube videos, optimized product images, and so much more. With SEO, the sky is the limit!

2. Spy on Your Competitor’s Marketing

Another great strategy for increasing traffic flow is to spy on your competitors to find out where their traffic is coming from. You could use a tool like SimilarWeb, for example, to see the various traffic sources for competitor websites. This data will prove invaluable as you use it to inform your marketing strategies for increasing traffic flow. For example, you may determine that most shoppers within your specific industry utilize their mobile devices to shop with the competition. Therefore, one can determine that a mobile-friendly website is critical to increasing traffic flow. 

3. Take Advantage of SEM

Where SEO refers to strategies to show up organically on Google, search engine marketing (SEM) refers to paid media that can instantly appear on the first page of the SERP. Search engine marketing is a great way to instantly increase your online visibility, drawing customers to your website for as long as your ads are running.

4. Focus Investment on Top Conversion Sources

After assessing your competition, you should run a quick analysis of your own online marketing efforts. The data that you pull from Google Analytics, Google Search Console, and your eCommerce platform will direct you to your most valuable conversion sources. Whether it be social media advertising or organic search, determining your top conversion source enables you to make changes to improve your most valuable marketing activities. 

5. Make Everything Mobile Friendly

We have already mentioned that some eCommerce platforms may require a mobile-friendly site to attract new traffic, but the same can be said for all eCommerce platforms. The mobile readiness of your website is a major Google ranking factor, contributing to your position in the SERP. Without one, you will fall behind your competition and your traffic flow will drop significantly. 

As you look to increase the traffic flow to your online store, consider our five tricks to achieving successful results. From SEO content to competitor monitoring, SEM, smarter investments, and optimizing for mobile, these are the top ways to attract more consumers.

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In the modern age of online shopping, standing out from the competition is critical to seeing results. But, it is more challenging than most realize. The biggest and best eCommerce stores have had years to develop every aspect of their marketing to ensure that they capitalize on massive audiences. That said, any eCommerce platform no matter how newly established or not can start improving its traffic by cutting through the clutter. In the following article, we discuss the five ways that you can make your eCommerce store stand out from the competition!

1. Introduce New Technology for Your Consumers

To win over customers, eCommerce stores need to offer new technology that solves their pain points. Integrations and eCommerce plugins not only give consumers a better online experience but that benefit businesses as they streamline processes and contribute to marketing efficiency. When it comes to new technologies, one of the most powerful modern financing tools is buy now pay later services. Buy now pay later (BNPL) services like those offered by ChargeAfter, enable an easy checkout for consumers that require on-demand financing when making a purchase. This feature saves consumers time and money, foregoing traditional interest-rate-based loans from financial service providers. 

2. Create a Personalized Shopping Experience

Personalized shopping experiences tailored to the modern consumer that prefers shopping with stores at the forefront of online selling. In order to create a personalized shopping experience that makes your store stand out, you need to consider strategies to leverage consumer-centric marketing. You could, for example, develop email campaigns tailored to specific customer segments. You could reward loyal customers with discounts and coupons for your store. At every level of the marketing funnel, you should consider ways to personalize your consumer’s experience to give them more reasons to shop with you.

3. Develop Exceptional Content

The best eCommerce stores are active on social media and develop great content for their audiences. From video content to long-form articles, infographics, Instagram Reels, and more, developing exceptional content is critical to standing out amongst the clutter of competition in the online sales industry. This content can be helpful, educational, inspiring, or motivational to encourage your consumers to buy into your unique brand narrative.

4. Invite Your Customers to Be Part of Your Community

Over and above delivering great content for your consumers, you should invite them to be a part of your brand story. A brand is only as strong as its community, and more fulfilled consumers are more likely to return to shop with you again. Inviting customers to be a part of your community can be as simple as asking them to sign up for your monthly newsletter or strategizing a loyalty program to encourage return customers. By putting your community at the center of your marketing activities, you can stand out from the competition and yield a greater return on investment as customer lifetime values increase. 

5. Support Customers Every Step of the Way

Great customer support is critical to eCommerce success as consumers want to feel heard when experiencing difficulties during their online shopping experiences. Whether it be through the integration of a chatbot on your website or providing informative context in the form of FAQs answering common questions, you should consider how every touchpoint can be leveraged to provide better customer support. 

There you have it, five ways to make your eCommerce store stand out! Be sure to introduce new technology, create personalized shopping experiences, develop exceptional content, create a consumer community, and support your customers to stay ahead of the competition!

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The modern shopper is smarter, younger, and more interested in online shopping than ever before! As eCommerce businesses compete for the attention of the shoppers, one can look no further than the latest fintech solutions to develop a deeper understanding of the wants, needs, and pain points of the modern shopper. New technology, specifically buy now pay later is providing an essential part of the modern shopping experience. These consumers rely on buy now pay later (BNPL) services more than ever before, and this reliance is revealing much about them. In this article, we explore the three most notable insights that buy now pay later reveals about the modern shopper.

Consumers Want Greater Debt Control

The modern shopper wants greater control over their debt. For many, seeking financial support requires third-party assistance. The entire process can be cumbersome and require individuals to undergo extensive credit checks. These credit check processes can, at times, fail and leave shoppers without the financial support necessary to make important purchases. That is where buy now pay later solutions come in handy. They help shoppers shop regardless of their current credit score or lack of credit entirely. The ability to secure financial support through an affiliate in partnership with an online store means that they do not need to discuss financials with any third party or a financial service provider. This gives the consumer greater control over their debt, leaving them more content with their shopping experience than ever before. 

Buy Now Pay Later Supports More Segments

Beyond supporting customers with poor credit or low credit scores, buy now pay later services concurrently service a broader audience. Most modern shoppers suffer from poor credit scores as they are young, often with student debt or not having had enough time to build a positive credit score. These shoppers are millennials and generation z consumers with a keen interest in online shopping. Without providing an accessible, simple, and reliable way for them to shop, online stores miss out on captivating the interest of the modern shopper. Buy now pay later circumnavigates this by appealing to millennials and generation z shoppers through the consistent and effective service of reliable consumer financing. More shoppers than ever before from a range of consumer segments are taking advantage of the benefits of buy now pay later services.

Modern Shoppers Trust Trend-Setting Brands

The modern shopper tends to have an affiliation with trendsetting brands. Think of environmentally sustainable brands, for example. The eco-friendly online marketplace is booming as more and more young shoppers are drawn to brands that are pioneering new strategies and product innovations. There is a consistent need to adapt to new trends and, not only that, but also set them. One such way of doing so is incorporating buy now pay later services. These services are the latest trend in online shopping, available at checkout for consumers to take advantage of. The modern shopper is a big fan of BNPL solutions as it resolves the two pain points that we have already mentioned.

To appeal to a younger, smarter, and more engaged modern shopper, the biggest and best eCommerce stores adopt buy now pay later solutions that facilitate seamless online shopping. Partnering with leading fintech service providers like ChargeAfter, these online shops are able to sustain shopper interest and drive more sales. By providing consumers with greater control over their debt, appealing to more consumer segments, and setting trends that other brands cannot keep up with, the best online stores stake their claim in the competitive eCommerce industry.

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Grow your eCommerce business and enjoy a profitable business year by adopting the latest marketing strategies for online stores. Evolving strategies to incorporate modern marketing strategies can set your store apart. Furthermore, the integration of consumer financing to support modern marketing will yield successful results. In this article, we outline five modern marketing strategies for eCommerce success that you can use to guide your activities. Backed with consumer financing, these tips should help you convert more customers this calendar year. 

1. Geotargeting

eCommerce is incredibly competitive as anyone can create an online store. Platforms like Shopify have made the store set up incredibly easy, and SEO allows businesses to reach audiences around the world. But, when it comes to securing more business, one should consider the geotargeting strategies this year. Geotargeting involves developing marketing material and localized SEO that attracts specific buyers from specific locations. This goes against the more traditional approach to SEO by driving numbers to one’s website. Instead, you want to drive a select few valuable users to your website for greater conversion rates. Instead of opting for broad marketing, this process involves creating niche segments based on location to yield profitable traffic to your website. 

2. Omnichannel Marketing

Omnichannel marketing refers to the cohesive marketing approach via multiple sales channels to deliver a clear, concise, and consistent brand message to consumers. This approach involves supporting consumers at every step of the sales funnel, from advertising online stores to ensuring seamless delivery and securing consumer buy-in with great packaging and continued communications. Omnichannel marketing ensures that businesses stay front of mind with consumers, encouraging and promoting customer retention as a result. 

3. Live Video

Video content remains the most popular among consumers as it is immersive, engaging, and informative. This year, you can take your video marketing efforts to the next level by integrating live video content into your social calendar. Live video content personalizes your brand and gives consumers a reason to buy into your eCommerce platform. By providing a face behind your brand, you can develop closer connections with your community and increase customer lifetime values. Live video content can come in the forms of social media live videos, webinars, training sessions, and streams to leverage the array of consumers accessing video content via various platforms and channels. 

4. Voice Search

Voice search is an incredibly powerful channel to take advantage of this year as more and more people are shopping via the functionality. By optimizing your eCommerce store for voice search and investigating advertising avenues through the functionality, you can target a new customer segment to drive more sales. Leveraging voice search is a viable and reliable strategy for eCommerce success this year and beyond.

5. Consumer Financing

Consumer financing works hand in hand with the strategies mentioned above as it supports the sales funnel, particularly during the checkout stage. ChargeAfter is a leading consumer financing partner that provides seamless integration for eCommerce stores. The solution invites consumers to take advantage of on-demand financing at the push of a button. This gives them access to financing necessary to make a purchase, encouraging them to filter through the final step in the sales funnel. The addition of consumer financing can benefit one’s business by increasing conversion rates and driving the sale of larger orders. 

As businesses continue to compete this year, it is time to integrate new marketing strategies that can set your eCommerce store apart. From geotargeting to omnichannel marketing, providing video content, optimizing for voice search, and integrating consumer financing, we ensure profitable success through the implementation of these five modern marketing strategies.

Want to learn more? Reach out to us here.