Discounts, seasonal launches and special campaigns are among the most frequently promoted aspects of a business. However, few companies chose to invest time and effort into giving visibility to the variety of different payment methods that they offer to their customers. But how can companies promote this part of their service, and what are the benefits of doing so?
According to the experts at Easy Payment Gateway, not being able to provide a specific payment method can cause up to 50% of users to abandon their shopping carts at checkout. For this reason, they underline the importance of not only providing a variety of different payment methods but also promoting them.
Larger companies such as Zalando or Nike are aware of the benefits and include a section or link on their homepage to publicise their range of payment methods. Thus, they are aware of the difference that this aspect can make when completing a transaction. A simple example may be that you leave your house without cash, only carrying your card. Then, when choosing between two cafes, you naturally go to the one which has a sign on the door to inform you that they accept Visa payment. Moving into the online sphere, the same effect can be achieved by placing a banner to display this information on the homepage of the website.
Among other measures, at Easy Payment Gateway we recommend that brands launch a survey in order to find out their customers preferred payment methods. The bank card is giving way to alternatives such as Paypal and Bizum, so it is important that companies are expanding their range of payment methods and taking into account which of them are the most popular among their target audience. This will allow companies to find out which methods should be offered, and which ones they should promote to their clients.
The experts also point to social networks as one of the key platforms for promoting payment methods. Not only will this serve to get the point across to potential customers, but it will also give the brand a modern, cutting-edge image by offering the most up-to-date solutions. Although many of us only have the more traditional payment methods in mind, there are hundreds of them. In the case of Easy Payment Gateway, our platform offers companies 240 enabled payment methods, of which 190 are considered to be alternative.
Communication is fundamental for any business, and that is why many put out regular newsletters, a method which allows them to inform their subscribers of all relevant news. So why not include news relating to the range of payment methods offered by the brand in the newsletter? Customers appreciate it when their favourite brands offer innovation on all fronts. As users, we like companies not only to provide us with the product or service that we are so fond of, but we also value their efforts to be up to date and offer things like a new website, more agile transport service or a more convenient payment method, for example.
All of this considered, it is important to remember that regardless of the size or industry of a company, they must start to strengthen their payment method offerings, giving them all of the visibility possible in order to maximize profits.