Remember the days when your mobile phone was only used to make and receive calls? Thanks to advancing technology, mobiles have become watches, planners, alarms, internet devices, cameras, music players, and much more. And now they’re used as digital wallets so users can purchase products and make transactions, paving the way for mCommerce.
Besides all the growth eCommerce is experiencing, mCommerce – commerce through mobile devices – is gaining space among consumers and their buying habits. According to eMarketer, the retail industry in the U.S. will earn $145.6 billions in 2018, thanks to mCommerce.
Are you allowing credit card payments in your website/online store for sales or services? If not, and you need more information to make that decision, here are some insights that will help you:
Credit Card Use As Preferred Payment Method Is Rising
A study conducted by the payment processor TSYS in 2016 found that approximately 40% of consumer prefer to pay by credit card, 35% use debit card as preferred payment method, and only 11% answered they prefer to pay cash. Credit card use is on the rise, since the preference for this payment method increased 5% compared to the previous year.
These trends are here to stay, and that’s why Commercient created Sync2Pay, a credit card solution that completes your ERP and CRM integration, so you can have your client’s data added to other systems in real-time, automatically. You’ll be able to not only receive those payments, but also sync that data in other platforms will help to always have your customer’s data up-to-date. There won’t be a need to duplicate efforts, or risk making mistakes when entering data into another system.
Mobile users don’t wait. Given all the uses mentioned above, plus instant messaging and social media, it’s practically impossible to keep a person’s attention for more than, literally, a couple of seconds. That’s why you need to make sure the purchasing process is fast and easy, which will help to increase sales.
On average, adults spend approximately 59% of their time using their mobile devices, but when it’s time to buy, the conversion rate is only 15%. If we spend so much time using our phones, why don’t we make more purchases with it? One of the reasons is speed. Nobody has time to wait for a website to load, or even less, a “come back later” alert. At that point, the customer is lost.
So offering a fast and easy buying experience will not only help you to make more sales, but to earn that customer’s loyalty.
Better User Experience
Although one of the main criteria to define “better user experience” is speed, the implementation of mobile payments also help you to know your customers, their buying habits, and even potential objections.
A better experience for the user would be to close the gap between the time using their mobile devices, and the conversion rates. You can do it optimizing your website for mobile, a smooth and easy-to-follow buying process, and, especially, post-sale actions such as incentives, cross-sell, up-sell and segmented marketing campaigns (email, ads, direct marketing).
Where do you access all this information? Integrating your “mobile” customers’ data with other CRM or ERP systems through a solution like Sync2Pay. This tool allows you to store all that info safely in the cloud, so your sales, accounting and customer service staff can access to the data at anytime, and from anywhere. That way, they’ll provide another key component of an outstanding experience: Customer service that will earn their loyalty.
Are you ready to implement a solution like this one with the payments you’re receiving online, or would you like to learn more? Don’t hesitate to contact us today and we’ll be happy to answer all your questions.