Chasing the Conversion Rate

The key figure in today´s e-commerce business is the Conversion rate and how to increase it. Everyone knows that bringing products to potential customer´s attention is tricky enough but completing the sale is another story. So here is a re-cap of commonly used methods in obtaining the conversions that will increase the bottom line. Most e-commerce platform providers will offer viable solutions for various business models such as the software and digital product industries but a very few can deliver. As part of the service that they offer, providers will promise innovative products and solutions that vendors need to be successful but do nothing but emulate the services of more successful competitive companies.

Beware of companies openly bragging to increase your conversion rates without specific expertise in your individual business model without a close analysis of the transactions and marketing history of your product or services. There are many newly or recently opened credit card processing companies that will take advantage of the un-aware companies and various business practices. These companies start business practices under the guise of a parent company, but in fact have little or no experience in the industry they are promoting.

The following is a brief overview of some of the features that have been mentioned in earlier articles that new online vendors should consider when comparing e-commerce platforms and the best answer for their needs. These features or solutions, as they are referred to, help increase a vendor´s conversion rates and add a higher level of success to their business models.

Maximizing Payment Alternatives – Offer targeted vendors as many payment options as possible, by giving the potential customers many different payment options the e commerce solution will attract more and more customers.

Offering Multiple Currencies - With all of the various components that are included into a comprehensive e-commerce platform, the smart provider continues to offer more option that will allow the vendor conduct business in global currencies.

Promotion Features - This Feature is added to the payment page control panel, allow the vendor to design and promote their individual sales promotion and manage the usage of coupons for the marketing of their products or services.

Customization and Optimization of the Payment Page – This service offers the vendor the option to utilize a standard payment page or to receive a customized payment page that is designed specifically for their website and business model. Be sure that the customization comes without strings attached and fine print added.

Personalized Account Service – A proactive solution offers each and every vendor a personal professional account manager. This service provides the vendor with a professional that is dedicated to the vendor´s account keeping them up to date and aware of how their service is working.

Customizable Reporting - Together with the standard reporting options that vendors have available to them, it allows the merchants to become involved in the reports that their online payment services provide.

Customer Service - One of the challenges in operating a successful business globally in today´s economy is the ability to provide a high quality level of customer support.

Although individually just these few features may be commonly offered by many companies, you must make sure that they are available for your in particular business model. The features listed above are only but a small part of services offered but they represent the core services needed to best increase the conversion rates that a vendor needs to specifically target a select market to sell their products.

Written by

Dennis Michael Gannon

Gannon & Gannon LTD.

English language Services