2Checkout Blog »
Sub-categories:
Articles in this Category:
- Rainy Saturday? Let’s Play Ball!
- Improve Your Traffic with Proof
- Let’s Do Lunch!
- Learn Why 2CO is South Africa’s Ideal Ecommerce Solution
- The 2CO reloadable MasterCard® by Payoneer
- You Need Metrics
- Understanding Abandoned Sales
- Sebbe Jones: CSO Online Interview
- Word of Mouth Advertising
- Improvements to the Recurring Billing Process
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Rainy Saturday? Let’s Play Ball!
August 14th, 2009, by: bion 2CO Staff+3
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Improve Your Traffic with Proof
August 11th, 2009, by: bion 2CO StaffWe talked about using site metrics earlier, in a general manner. Here, I would like to provide some practical uses for site metrics to help you increase your sales.
“If you don’t have documentation, then it didn’t happen,” is what my boss used to say when I worked in a warehouse. What he meant was, if I didn’t have a receipt for every time a customer checked out a specific product, it would be essentially my word against his when it came time to report on inventory. I’d be out of a job and he’d be a few hundred bucks worth of merchandise richer.
The same thing applies to your on-line business. If you don’t have a paper trail (or electronic trail, as the case may be), you can’t prove anything. Did a customer visit your site three, five, or zero times? You don’t know unless you keep track with some kind of analytics/metric tracking program. The more detailed the program, the better.
The total number of visitors you get in a day, week, or month may look impressive on your annual report, but it usually won’t help you figure our things like: How many are repeat customers? How many pages did they visit? What days/times did they visit? These are things you need to know.
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Let’s Do Lunch!
August 6th, 2009, by: cliff 2CO Staff2Checkout representatives are on the road and we would love having the opportunity to meet and treat our vendors!
We are going to be in Tampa Florida, August 10th through 12th for the Direct Response Forum (DRF). If you are in the area, please email reservations@2co.com to schedule a time for one of our representatives to take you out for lunch or dinner. This is one of many ways to show our appreciation and personalize your partnership with 2Checkout.com.
We look forward to meeting you!
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Learn Why 2CO is South Africa’s Ideal Ecommerce Solution
August 5th, 2009, by: vcleary 2CO StaffTo better clarify why 2Checkout is the ideal solution for South African businesses and address the difficulties many face while selling online, 2CO has developed an exclusive page outlining 2Checkout’s solution for South Africa, and for a limited time is offering South African businesses a waiver of our $49 USD signup fee.
E-Commerce has always been a hot topic of conversation in South Africa. For the past year, a steady stream of buzz has resonated from a number of South African message boards and blogs as business owners debate the best available e-commerce options and air their frustrations about the logistical difficulties they face while selling online.
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The 2CO reloadable MasterCard® by Payoneer
July 31st, 2009, by: geno 2CO Staff
Now a faster, easier way to get paid – the 2CO reloadable MasterCard®.
Have your future payments loaded to your 2Checkout reloadable MasterCard®. Why wait for a check to come by mail, and then wait again for it to clear a bank?
It’s fast, secure and offers you the most flexibility with your money.
- Log into your 2Checkout vendor account, open the banking wizard, and select the 2Checkout reloadable MasterCard® powered by Payoneer.
- Complete the sign-up process for your card, and Payoneer will mail a card to you.
- Once you receive your card, log back into your 2Checkout account and mark the box that says “Click to indicate you have a Payoneer account with 2Checkout and want to use it as your payment method”.
Benefits for 2CO Suppliers:
- No bank account or credit check required.
- Receive funds faster and enjoy immediate access to your funds
- View your account, payments, balance and transaction history online, 24/7.
- Make purchases and withdraw cash in local currency from any point of sale or ATM worldwide that accepts MasterCard®.
- The money on your card is MasterCard® protected even if your card is lost or stolen. Payoneer will ship you a replacement card and transfer your balance to your new card. Note: transactions requiring your PIN are not refundable.
2Checkout.com, a better place to do business.
We are very excited to offer you a new payment method that will help you manage your funds.
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You Need Metrics
July 30th, 2009, by: bion 2CO StaffNo, not the milliliter, centigram, kilometer they taught us in school, I’m talking about a measurement of your website traffic. Actually, I mean more than that. Just like you need to be able to break down kilometers into decimeters, meters, and millimeters, you need to be able to drill down your traffic into meaningful units. After all it does nobody any good to know that my thumb is .000000245 kilometers wide.
Say you’re getting 5,000 visitors a month, which would be pretty good. At a 2% conversion rate, that’s 100 sales, which may or may not be enough to run your business depending on your product’s price point. Presumably, your product is excellent enough that at least half will be so satisfied they’ll come back for more. That’s another 50 sales spread out among the next six months. Good so far.
But what about the other 4,900 visitors? How can you convert more of them into paying customers?
By first understanding them.
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Understanding Abandoned Sales
July 28th, 2009, by: bion 2CO StaffAccording to an article from E-Commerce Times:
“Up to 70 percent of online shoppers abandon their shopping carts before completing the checkout process…”
That’s quite a few missed sales. The article goes on to give some very common reasons why people abandon their sales:
- Convenient Shopping
- Alternative Payment and Credit Vehicles
- Robust Security
Easily one of the most, if not the most, frustrating aspects of doing business online is cart abandonment. It is one of those things that seriously differentiates web-based sales from traditional stores. I have friends who run e-commerce sites and friends who have physical shops, and a couple friends who operate both. None of them complain about people “just browsing” in their shops, and it is rare indeed to hear about someone taking an item to the cash register and deciding they didn’t want to make the sale. On the other hand, a common “gripe” with people who do substantial sales online is that people click out of their shopping cart without completing the sale.
Check out the article and the comments for more information.
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Sebbe Jones: CSO Online Interview
July 16th, 2009, by: bion 2CO StaffJoan Goodchild has a very informative interview with Sebbe Jones posted on CSO Online. Sebbe is the head of our Fraud team and has written his own articles explaining online fraud and tips to avoid fraudulent purchases.
“E-commerce fraud costs retailers approximately $4 billion each year, according to the most recent results of an annual survey conducted by Cybersource, a provider of electronic payment and risk management services. Sebbe Jones, manager of fraud and disputes at 2Checkout, is in the business of keeping e-commerce fraud at bay.”
Check out the interview, it’s a good read with lots of information.
E-commerce Fraud: The Latest Criminal Schemes
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Word of Mouth Advertising
July 15th, 2009, by: bion 2CO StaffThese days there are more and more ways to connect with your customers and potential customers, and there are as many effective ways to engage your customers as there are ways to alienate. Recently, I have been researching how to use your existing customers to help you increase sales by simply telling their friends (online and off) about your business.
“For people to talk about you in an authentic way you have to give them a reason, and that reason should be how much they loved using your product or service.”
This is the cornerstone of a good word of mouth marketing strategy. Start with giving your customers a reason to talk about you. Matt Reece, from Brains on Fire has even more sound advice.
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Improvements to the Recurring Billing Process
July 8th, 2009, by: joel 2CO Staff*UPDATE* As of September 23, 2009, the improvements to our recurring billing processes have been implemented.
2Checkout is happy to announce some upcoming changes in our recurring billing processes. These changes include a better way to handle expired credit cards to increase successful recurring installments, an updated retry schedule to convert more of your declines into successful authorizations quicker, and an increase in the authorization period of recurring installments to reduce fees suppliers may be charged for refunding a customers recurring installment. Detailed below are the changes and benefits that suppliers can look forward to.
