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6 Tips for Offering More Payment Methods To Expand Your Target Market - Finnegan Pierson - Blog

6 Tips for Offering More Payment Methods To Expand Your Target Market

One of the best ways to increase online sales for your business is enabling customers to make purchases online, but this can vbe more complicated than you might think. There are so many online payment options available now, from credit cards to cash apps to ecommerce financing and you need to be prepared for customers to choose any of them. Here are six tips for offering more payment methods to expand your target market.

  1. Optimize Your Web Design

An ecommerce website needs to have impeccable design, no matter the screen it's being accessed on. You want your ecommerce site to be clean, easy to navigate and simply designed so your customers don't have any difficulty finding their way around and making purchases. Find ways to incorporate all common methods of online payment and make sure you use either adaptive or responsive web design. Adaptive design is a method of retrofitting your existing website with code that will enable it to be accessed on mobile devices if it isn't already. Responsive design is built into the code of a new website and is a method used to help the site detect the size and type of screen accessing the site and adjusting its size and layout automatically.

  1. Include Alternative Payment Methods

There are so many different ecommerce payment options available now that it can be overwhelming. However, you need to be prepared to include as many as possible without cluttering your layout or overwhelming your customers. This decision will depend on your existing customer base, the customers you're trying to attract and the type of business you're running. A fully online shopping platform will need to include every type of online payment method, while a brick-and-mortar store that has an online payment option won't need to include a cryptocurrency payment option, for example. A good rule of thumb is to include debit and credit card options, ecommerce financing, bank transfers and online payment gateways such as PayPal.

  1. Leverage Online Payment Gateways

One of the most versatile online payment options is an online payment gateway. These gateways, of which PayPal is one of the most well-known, process and authorize payment information when a customer checks out on behalf of your business so you don't have to perform those procedures yourself. These gateways tend to be very simple to incorporate into your website, as many are formulated as plugins and are compatible with most web hosts. These are also very popular payment options and most people have accounts with one or more gateways and are highly efficient at protecting and securing customers' sensitive data.

  1. Personalize the ECommerce Experience

Personalization can greatly assist you in expanding your customer base, particularly if your business model doesn't support a highly streamlined ecommerce process. Ensuring your customers have personalized web experiences means you can use their clicks to tailor their individual user experiences, which can improve the experiences your existing customers have and attract new customers. Personalization may also be leveraged to help customers choose their preferred payment options. You can design a list of options and a customer can choose one and save that choice to his or her account. You may also have options to allow customers to save their payment information for faster checkout during subsequent visits.

  1. Keep Things Simple

Aside from keeping your web design as simple as possible, you also need to keep your purchasing process simple. A large majority of customers already abandon their shopping carts for various reasons, and a complicated or lengthy purchasing process will likely increase that percentage. Simple, straightforward processes with as few steps as possible are the best processes for retaining customers, keeping them from becoming frustrated and boosting your sales.

Making the ecommerce process as simple and accessible as possible can greatly increase the size of your target market. In particular, making sure customers know how to use your online shopping and payment procedures and giving them the choice to utilize the payment methods they're most comfortable with will expand your customer base and improve your sales.

Publish Date: August 30, 2021 11:36 AM

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