Category: Blog

Personalized marketing is proving the modern eCommerce strategy to unlock revenue generation, and customer segmentation plays a critical role in experiencing the crucial benefits of said strategy. In this article, we discuss customer segmentation in more detail and provide recommendations on how to leverage segmentation alongside online financing options to improve eCommerce sales. 

What is Customer Segmentation?

Customer segmentation refers to the process of grouping your customer base into several categories that present different key characteristics. These groups, or segments, combine customers with similar shopping behaviors for online retailers to tailor personalized marketing to each consumer group that makes up a company’s segmentation profile. For example, customers within a specific age group and earning bracket may lean towards considered purchasing behaviors that require more thoughtful marketing to win over their attention. Another customer segment may categorize impulsive buyers that consistently return to grab various products across a company’s catalog. These customers may be swayed by discounts, coupons, and loyalty programs that support their on-demand buying behaviors. With a better understanding of one’s customer segments, eCommerce platforms can integrate strategies to improve sales. 

Using Online Financing to Improve Sales

Online financing options are a relatively new and powerful tool that the best eCommerce brands on the market integrate to expand their customer segment portfolios. ChargeAfter is a leading provider of multi-lender online financing for merchants that provides opportunities to improve sales through greater consumer financing support. The platform is an easy-to-integrate and affordable plugin that businesses can incorporate into any online retail platform, including Shopify, Bigcommerce, Magento, and more. Once embedded into a website, the platform gives consumers immediate access to consumer financing at the push of a button and without having to leave one’s store to seek third-party financial aid. Whatsmore, consumers are given access to zero-interest loan plans that require no credit checks and connect customers to lenders who have been sufficiently vetted for reliability. Then, customers can easily purchase the products in their carts with little concern over hefty repayment plans, improving an eCommerce platform’s sales as a result. 

What are the Benefits of Customer Segmentation

The key benefits of customer segmentation are the ability to craft personalized marketing, integrate additional tools such as online financing, and leverage the unique buying behaviors of each subscriber group new to or returning to your online store. 

eCommerce platforms can use customer segmentation to eliminate general marketing that can become costly. For example, pay-per-click (PPC) campaigns that are driven by broad consumer marketing profiles provide a far inferior return on investment than ad campaigns with hyper-targeted consumer profiles. With a greater understanding of your customer segments, you can target audiences that mirror the customers you are already having high success with. This will result in compound sales growth with a significant return on investment as you have to do little additional target market research when developing new campaigns. 

With more knowledge of your customer segments, you are also able to provide solutions through cost-effective marketing channels where these segments are most likely to respond. Assessing the analytics, some of which can be provided via ChargeAfter’s online financing platform, eCommerce owners and their marketing teams can develop better sales funnels and a wider range of sales funnels, each one targeting a specific customer segment in their audience profile. These sales funnels should improve sales as they are tailored to the unique shopper, providing an experience that aligns with their distinct online shopping expectations. 

In summary, the use of online financing alongside a clear customer segmentation portfolio can help eCommerce brands improve their sales and stay ahead of the competition in the competitive online retail marketplace.

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Every tech company should have a clear marketing plan in place before taking the eCommerce world by storm as profitable marketing relies on a comprehensive understanding of one’s industry, competitors, and a clear strategy or multiple strategies guiding creative, budgeting, and publication decisions. In this article, we discuss how to develop a marketing plan for your tech company and how you can integrate electronics financing to ensure successful and profitable marketing following the rollout of your strategic plan.

What is a Marketing Plan?

A marketing plan, in the context of a tech company, refers to the digital advertising strategy that will guide the marketing decisions from concept creation to channel distribution, targeting options, budget decisions, and advertising publication. The plan intends to ensure that all marketing decisions are built with a specific target audience in mind, align with business goals, and will achieve successful results based on selected marketing metrics. A solid marketing plan is essential to the success of an online tech store, and business owners should consider updating existing marketing plans that are already in place to ensure they coincide with the latest tech marketing trends. 

Successful Marketing Strategies for Your Plan

Below, we explore some of the most popular modern marketing strategies for tech companies to utilize when developing a marketing plan from scratch or amending an existing marketing plan:

Leverage Video Content

Tech companies should be at the forefront of modern marketing as they represent their products and services represent the future of the world. Video content is proving a critical marketing avenue and one that should sit at the core of an online tech retailer’s strategy. Video content allows tech companies to tell stories that appeal to the tech-savvy consumer, create buzz around new products and services, share positive reviews that encourage purchases, and provide explainers that help customers make informed shopping decisions. 

Market with Influencers

Influencers have tremendous power over the modern shopper, hence the name. Influencers should feature as a part of a tech company’s marketing plan as their opinions hold enormous weight over the products and services that tech companies offer. Often, individuals base their tech purchasing decisions on online reviews and testimonials as opposed to hardware or software capabilities. Influencers big and small can have a positive impact on one’s marketing initiatives. 

Provide High-Value Content

Tech companies need to provide high-value personalized content to their consumers to stay ahead of the competition. Content that is information, engaging, and value-based will win over fluff content that offers no tangible value to the lives of the consumer. Think of high-value content as content that answers a searcher’s intent, helps them navigate the endless list of tech products available on the market, and offers some sort of perk in the form of a coupon, bundle, or discount. You could release a comprehensive product review video with a coupon code linked in the description, for example.

Integrating Electronics Financing for Success

You can level up your marketing plan through the integration of electronics financing at checkout. ChargeAfter offers the most comprehensive multi-lender electronics financing solution that will give your shoppers access to financial support at the push of a button to encourage greater sales at checkout. This financing comes with no interest rates and requires no credit checks, ensuring that your marketing efforts attract the widest audience possible for the greatest return on investment. 

Developing a comprehensive and clear tech marketing strategy should involve leveraging video content, influencers, and high-value content alongside electronics financing that all work to benefit the consumer, encourage sales, and ensure profitable partnerships between the audience and tech company. 

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Choosing how to price the products that you sell on your eCommerce platform is more complex than you may have originally believed. Pricing strategies are significant pieces of your marketing puzzle that it would be wise to consider thoughtfully as you hope to outshine competing companies within your industry. Smart pricing is intentional, powerful, and can drive significant sales, ensuring that the best eCommerce businesses remain at the forefront of their industries. In this article, we explore how an enticing pricing strategy with consumer financing will help your business leverage new and existing customers for more profitable returns and suggest several strategies to model your pricing after. 

Pricing Strategies with Consumer Financing

Developing a pricing strategy alongside the integration of consumer financing is one of the fastest ways to see an increase in sales as a result of appropriate and attractive pricing. This is because consumer financing ensures that your pricing strategy remains competitive when customers require a loan to purchase your products. How does consumer financing do this exactly? Well, the best consumer financing platforms, like ChargeAfter’s multi-lender solution, allow shoppers to apply for zero-interest loans on the websites that incorporate the plugin. This is an almost immediate process that requires no credit checks on behalf of the consumer, ensuring that a wider consumer base can shop your products regardless of their price. Implementing this kind of consumer financing tool ensures your pricing strategy is competitive, consumer-centric, and encourages greater sales. 

Below are a few suggestions to help you create an enticing pricing strategy that aligns with your business and accompanies powerful consumer financing platforms:

Product Pricing Differentiation

Analysis paralysis affects consumers when there are too many decisions for them to make on a particular platform. When this happens, consumers become overwhelmed and decide to seek business elsewhere, causing many eCommerce platforms to lose potential customers in the process. It is important then, to differentiate your products and the prices that you offer. Rather than including several similar products within a similar price bracket, distill your catalog so that you have a few options within a low-tier, mid-tier, and high-tier price range. Giving customers fewer pricing choices helps them navigate your shop quicker, encouraging greater sales. 

Bundling Similar Products

It may be wise, if you offer several products within a similar category or complementary products that work with one another, to adopt bundling options for your consumers. Bundling options reduce the number of choices consumers have to make while providing greater value through bulk buy discounts. If you are unable to bundle products, then you can adopt cross-selling and up-selling strategies at checkout alongside consumer financing features. Plugins will allow you to sell similar or related products at checkout, encouraging consumers to create their own bundles before making a purchase. You can bundle and cross-sell at small discounts to support a stronger pricing strategy for your popular and less popular products. 

Price Anchoring

Another popular pricing strategy is to anchor product prices against more costly offerings. By placing products alongside more expensive products, pricing strategies create a consumer perception of the value of each product. With a greater understanding of the differentiating between the products and their prices, customers are more inclined to sway towards the less expensive products that they will consider a bargain. While it may seem counterproductive to improve the sales of less costly items, a greater volume of monthly sales will drive profitable returns in the long run.

With the integration of consumer financing at checkout, eCommerce platforms can create competitive pricing strategies using the aforementioned models as a foundation and drive greater sales within a business month. 

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Consumer trust plays a massive role in the success of one’s online store. After all, customers that do not trust a brand are unlikely to buy from the website, share recommendations with their friends, leave positive reviews for other shoppers to see, and return to browse new offers and deals. The need for strong consumer trust is paramount, however, becoming increasingly difficult as a decline in consumer trust according to reports is sweeping the eCommerce industry. Now more than ever, companies must find new ways to establish and build trust with their customers. In this article, we explore consumer financing and its impact on consumer trust with particular reference to ChargeAfter’s leading multi-lender financing solution.

1. Consumer Financing Adds Value

Added value sits at the core of consumer trust as shoppers hope to find stores that go above and beyond to satisfy their online buying behaviors. ChargeAfter facilitates an added value consumer experience through the integration of consumer financing with the best eCommerce platforms in the marketplace. How does it do this? Well, the multi-lender platform provides shoppers with access to on-demand zero-interest financing solutions as they shop for all sorts of products. Customers experience the benefit of paying off their purchases over long-term loans that do not become costly with time. In a nutshell, consumers that shop with eCommerce platforms using ChargeAfter’s consumer financing get more bang for their buck. This establishes trust with shoppers who are skeptical of extensive repayment options through third-party websites and other online stores. 

2. Consumer Financing Simplifies the User Journey

Customer trust also rests on how easy and simple the consumer journey with a particular retail website is. For example, customers are more likely to trust a company the facilitates a seamless user journey from browsing products to adding them to the cart, applying coupon codes for discounts, paying for the purchase, securing affordable delivery, and receiving products in a timely fashion. The entire journey can be made simpler with the integration of consumer financing from ChargeAfter. The integration ensures that shoppers can apply for financing on the fly, without having to leave your store. This eliminates the need to seek consumer financing from other sources, aiding in establishing trust among shoppers that seek efficient services from eCommerce platforms. 

3. Consumer Financing Makes Expensive Products Accessible

A large part of establishing consumer trust boils down to how accessible an online store’s products are. Shoppers browse many online platforms before they select their products as prices range from one store to the next. With consumer financing from ChargeAfter, an eCommerce platform can provide comprehensive financing for expensive items. This enables customers to shop all products on one’s catalog, increasing the availability of products in one’s store. Customers that shop with consumer financing are more likely to trust the website, specifically because ChargeAfter provides a network of reliable lenders with upfront financing plans. 

4. Consumer Financing Validates All Shoppers

Customers that shop with eCommerce stores using ChargeAfter’s consumer financing feature does not have to submit credit checks to receive financing. As a result, all shoppers can buy from one’s website. This broadens a retail store’s available audience as well as showcases a commitment to easy shopping for all customers. Having this feature builds trust with shoppers from all walks of life. 

ChargeAfter’s consumer financing solution can help eCommerce platforms build trust with their customers. By adding value, simplifying the user journey, making more products accessible, and validating all sorts of shoppers, eCommerce platforms can support their shoppers and promote long-term relationships that foster profitable business growth. 

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Millions of online stores vie for the attention of curious consumers, however, some stand out more than others. eCommerce marketing teams are constantly on the hunt for innovative marketing avenues, strategies, and integrations that promote the benefits of shopping at a specific online store. When it comes to marketing your eCommerce platform, you can leverage the leading online financing solutions at checkout to facilitate a superior marketing strategy. In this article, we outline 5 expert tips to market your eCommerce platform and how online financing helps. 

1. Automate Your Marketing and Online Financing

Marketing automation is becoming increasingly popular as eCommerce owners hope to shift operations to work in favor of the platform rather than stick to models that require extensive financial and time investment. Platforms like Facebook and Shopify give online store owners automation over various activities on their social pages or website platform. eCommerce owners can leverage the benefit of automated advertising and customer service features to free up time, bolster real-time marketing initiatives, and resolve issues of poor performance across customer communication channels. ChargeAfter’s online financing solution is an automated integration that allows customers to access financing at the push of a button. This integration supports the checkout process and ensures that eCommerce marketing during purchase is seamless. 

2. Highlight Success Stories

Online stores need to utilize customer testimonials and success stories to improve marketing strategies. These positive reviews serve as testaments to a brand’s reputability, efficiency, and service delivery. eCommerce owners should utilize testimonials as a marketing avenue by showcasing positive feedback on social pages, the website itself, and advertising campaigns. eCommerce platforms can also include review requests alongside online financing features to develop a testimonial feedback loop for more successful marketing campaigns. 

3. Provide Seamless Experiences

Another way to let one’s online store market itself is to provide seamless experiences for the customer. Online financing from ChargeAfter, for example, provides customers with an efficient checkout experience that allows them to access financing without leaving the online store. This ensures that the sales funnel maintains customer engagement for longer, potentially improving sales as a result. Seamless experiences encourage customers to share their thoughts with others as well as improve an online platform’s SEO ranking, supporting marketing strategies in the process. 

4. Using Campaigns to Retain

Marketing campaigns are key to customer retention, and online financing can further support one’s customer retention strategy. Marketing campaigns can be highly targeted to sell to existing customers or individuals that have browsed an eCommerce platform but are yet to make a purchase. Furthermore, online financing can improve customer lifetime value by improving consumer trust. The combination of several customer retention strategies will support a company’s overall marketing initiatives and ensure that one’s online store can drive a sustainable profit. 

5. Upsell Products at Checkout

A great way to market products that may be performing poorly is to upsell them at checkout. Alongside ChargeAfter’s online financing platform, eCommerce platforms can integrate cross-selling and upselling plug-ins that highlight and pinpoint products related to those in a shoppers cart, alternative product suggestions, or complimentary items that align with the shoppers buying intentions. Upselling products is a surefire way to improve marketing efforts and drive sales.

Online store owners can deploy the following expert tips to ensure that their eCommerce platform cuts through the clutter and drives a return on investment. From automating key areas of the business to promoting customer testimonials, providing seamless user experiences, driving retention campaigns, and upselling items, eCommerce platforms can ensure profitable business growth through superior marketing and commitment to better customer experiences.

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Consumers make many decisions when shopping online. From deciding which eCommerce platform to shop with to choosing between an array of different products, customers can quickly become overwhelmed and suffer from choice paralysis. This choice paralysis can hinder the success of online stores as customers may eventually leave a platform as they hope to reconcile their decision. As a result, the buying process is stalled and businesses may lose out on new customers. In this article, we explore 5 strategies to overcome choice paralysis, including waterfall consumer financing and other important tips. 

1. Support Checkout With Waterfall Consumer Financing

While customers are likely ready to buy when they arrive at checkout, choice paralysis can still set in and stall a sale. Therefore, eCommerce platforms must support the consumer checkout process with novel integrations like ChargeAfter’s waterfall consumer financing solution. This platform provides customers with comprehensive financing coverage at the push of a button, without them having to leave the online store. The instant access to financing eliminates the need for consumers to make difficult financial choices, such as whether or not they can repay extensive loans from third-party financial service providers. Furthermore, ChargeAfter’s waterfall consumer financing includes low APR repayment solutions that make this choice even easier.

2. Reduce the Number of Choices

Choice paralysis comes down to consumers having too many choices available to them. Therefore, eCommerce platforms should limit the number of choices available to the consumer. Whether this means minimizing the stock or catalog, removing extensive product ranges, or reducing the number of navigational tabs on the website, eCommerce brands that provide fewer quality choices are likely to be more successful than those that have an array of cumbersome choices and tasks for consumers to make before they arrive at the checkout. 

3. Differentiate Product Options

It is very important to clearly define the product options available to consumers to reduce their experiences with choice paralysis. This could involve creating clear categories and subcategories that separate items, similar to the separation of items based on industry or requirement in traditional brick-and-mortar stores. This differentiation will help your customers navigate your online store easier, minimizing choice paralysis and encouraging sales. 

4. Simplify the Sales Funnel

Many online stores suffer from having a complicated sales funnel. It is in an eCommerce platform’s best interest to simplify the sales funnel so that customers have fewer choices to make between browsing and buying products from an online store. A simple sales funnel involves a clear consumer journey from arriving on the website to checking out, and waterfall consumer financing can ensure the checkout process is easy and efficient. This will reduce the risk of customers experiencing choice paralysis, and thus increase your average monthly sales metrics. 

5. Use Automation to Support Decision Making

Automation remains critical in the modern age of marketing as it cuts down operational costs, facilitates quicker purchasing processes, and improves customer decision-making. Companies can utilize an array of automation tools at all consumer touchpoints to ensure a seamless delivery of choices. Chatbots allow customers to find answers to all of their questions on the fly, cross-selling plugins provide clarity on related products to save consumers time making decisions, and waterfall consumer financing automates the online financing process at the push of a button so customers can continue shopping without having to seek support from their financial service providers. 

To overcome choice paralysis and make more sales, eCommerce platforms should ensure that waterfall consumer financing supports checkout, customers have limited choices to make when shopping, product options are clearly differentiated, the sales funnel is simple, and automation drives most operational processes. 

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No matter the product or service that you sell, the most essential driving factor behind eCommerce success is the customer experience that you provide. This is especially true in the modern online shopping industry when customers can easily turn to competitors that offer similar products or services. In order to stay ahead of the competition and experience sustainable business growth with one’s online store, business owners need to consider ways in which to improve customer experience. In this article, we explore a few of the tried and proven customer experience strategies that attract new customers and retain existing shoppers for greater sales and eCommerce success. 

Consumer Financing Solutions

The customer’s checkout experience is critical to the success of one’s eCommerce store as this is the make-or-break consumer touchpoint during the buying process. It is important that stores deliver a seamless and efficient checkout experience to drive sales and retain avid buyers. This can be done through the integration of consumer financing solutions. ChargeAfter delivers one of the most effective consumer financing platforms on the market. Connecting your customers with a network of reliable lenders gives them access to instant and on-demand financing to make purchases big and small on your website. There are many consumer benefits to integrating this platform. It is easy to use and appears during the checkout process. Customers do not need to go through extensive credit checks, the repayment plans come with no additional interest, and customers do not have to leave their online store to receive financing. Brands can, therefore, offer additional upselling and cross-selling to leverage larger orders. 

Social Media Listening Tools

Social media listening tools give eCommerce owners access to valuable customer information and data to make more informed customer experience decisions. Some platforms give extensive insight into buyer profiles while other platforms share information on popular online shopping trends. Business owners can use Google Keyword Planner to determine new content ideas for a better customer experience or Hootsuite for information on optimal social media marketing strategies. These are just two of the impressive social media listening tools that can improve your customer’s experience on your platform. 

Customer Review Mechanisms

Customer reviews sit at the heart of successful eCommerce. A good review is often the difference between a customer shopping with one brand versus another. Therefore, eCommerce platforms need to have a review strategy in place and mechanisms to collect reviews. This can help you highlight the areas of your customer experience that are particularly beneficial through the lens of a consumer’s positive remarks. Furthermore, review mechanisms can be seamlessly embedded into the customer journey to elevate the shopping experience. 

CRM Systems

Customer relationship management (CRM) systems enable eCommerce platforms to assess, analyze, and optimize their customer relationship strategies. Customer relationships and service are crucial to eCommerce success as your customers have a strong sway over the popularity of your platform. Whatsmore, CRM systems are a great place to store valuable customer data and metrics that one can use to optimize the customer experience in particular areas of interest. One should utilize CRM systems to keep tabs on valuable leads, drive communications for greater efficiency, and share content for easier customer-brand integration. 

eCommerce companies can improve their customer’s experiences with the aid of consumer financing, social media listening tools, customer review mechanisms, and CRM systems for greater success in the competitive digital retail landscape. Doing so will ensure that one’s business experiences greater customer activity, land more sales within a business month, and promotes long-term business sustainability through customer acquisition and retention.

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Black Friday is an opportunity for eCommerce brands big and small to leverage the influx of consumers shopping for the biggest and best deals online. The annual shopping phenomenon remains the highlight of the consumer shopping calendar, and online store owners should consider optimizing their platforms for the inevitable increase in customer activity during the Black Friday weekend. Fortunately, there is still enough time to do so, and buy now pay later solutions from ChargeAfter can help your business prepare for a profitable Black Friday weekend. Here’s how.

What is Buy Now Pay Later?

As an eCommerce business owner, it is important to stay on-trend and up to date with the latest online platform integrations that can improve sales. Buy now pay later solutions are a relatively modern website integration that offers customers access to comprehensive consumer financing at the push of a button. These platforms, which deliver tailored loan solutions, are effective checkout plugins that help customers shop quickly, easily, and affordably without having to leave your website. 

How do they work? Well, ChargeAfter is one of the leading buy now pay later platforms as its plugin gives online shoppers access to a wide network of lenders capable of facilitating their personal financing requirements. With ChargeAfter, eCommerce business owners no longer need to source lenders or expect consumers to seek financing from third-party providers. As an owner, you can sit back while your customers utilize the ChargeAfter buy now pay later platform on your website and receive financing within minutes from a willing and reliable lender in our extensive portfolio.

How Will Buy Now Pay Later Benefit Black Friday?

Black Friday is closer than consumers think, and it is important to facilitate a seamless online shopping journey during this annual height of online retail. Fortunately, you can start putting in place the necessary strategies to capitalize on the trending shopping period soon rather than later. And, buy now pay later should be the first integration to consider. Here’s why:

Black Friday Sales are Made Easier

Ease of use in the consumer journey is critical in the modern world of eCommerce, and buy now pay later facilitates a seamless checkout experience for all your shoppers. They can access funds to make purchases at the push of a button, and without having to seek assistance from financial service providers. As a result, they can grab the hottest Black Friday deals from your shop in an instant. The simple steps of ChargeAfter’s buy now pay later Black Friday solution also keep the customers on your website so that they can continue shopping with ease.

Black Friday Sales for More Consumers

Buy now pay later from ChargeAfter gives more consumers access to the deals on your eCommerce platform. This is because the consumer financing solution requires no credit checks and the repayment plans include low interest services. With consumer financing for merchants from ChargeAfter, customers that were at a previous disadvantage because of financing red tape are now capable of purchasing their favorite products during the Black Friday sales affordably and with little stress involved. 

Black Friday Sales are Bigger than Ever

An added benefit of low interest repayments is that customers can purchase bigger items during your Black Friday sales than ever before. As they will not have to pay extensive loan rates, they will be more willing to shop your biggest and best sales, raising the average order values that you experience during the day and over the weekend. 

With buy now pay later Black Friday solutions from ChargeAfter, eCommerce stores can leverage the massive consumer day and make more sales thanks to an easy checkout experience, consumer financing with no credit checks, and easily repayable payment plans. 

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