8 Oct, 2010
cross selling ecommerce repeat customers Sales transactions up selling
If you running an e-commerce portal and would like to leverage on existing users by getting repeat orders, the essence is to treat them well after they placed their initial order then only there is high probability of repeat purchases.
Maximize Cross Sell opportunities - Cross selling is the strategy of pushing new products to current customers based on their past purchases. Cross selling is achieved by including in your confirmation email other items they may like, as well as mailers included when the product is sent.
The essence of any successful cross-selling strategy is recommending the right product at the right time. To do this, you must have information on the purchase history of the customer and product relationships. Cross-sell items in similar price points, or higher priced items
Incentive customers to buy again – Always include coupons with the package. Customers who have just brought from you are your best prospects to come back and buy again.
Consider product and money return policy - Having a money back return policy shows customers that you stand by your product and increases their confidence in buying from you. It also shows that you care about the satisfaction of your customer. Specify clearly how the customers should handle the process of returning the item, and when and how they can actually expect to get their money back. However, use this feature only if you can back it up and you are indeed willing to return their money back.
Unless you are selling questionable product, few people will actually take you up on the offer.
-Hitesh, vcBytes.com
3 Oct, 2010
ECS electra suite ElectraCard Services Mastercard Payment platforms transactions
MasterCard Worldwide has announced that MasterCard has taken a 12.5% stake in Pune headquartered ElectraCard Services (ECS), a leading provider for credit and payments management. The investment in ECS bolsters MasterCard’s overarching global processing strategy by further extending MasterCard’s product offerings and enhancing services across the full spectrum of the processing value chain not only in Inida but also in Asia Pacific, Middle East and Africa.
ECS, founded in 2006 provides third party processing services and software for credit, debit and prepaid cards and EFT switching solutions to banks across 25 countries. ECS electra suiteprovides depth and capabilities to process in real time a variety of payment transactions. In India, ECS is the largest third party processor for cards and the market leader in Internet payment gateway solutions.
As part of its broader processing strategy, MasterCard remains committed to raising the bar on innovation and providing solutions for the deployment of turnkey payment platforms. The company’s fully integrated global payment platform enables its customer financial institutions to offer new, differentiated products to their cardholders; build new relationships; enhance customer loyalty; reach new segments; secure first-mover advantage and drive greater efficiencies The investment in ECS is designed to further the strategic objectives of both organizations.
20 Sep, 2010
ecommerce shoppers thwate transactions user traction
What is the key attribute behind the success of any e-commerce portal? It is trust and credibility your e-commerce portal needs to instill in the shopper and make them purchase products. Its easier said than done, it takes time to build the trust but good new is its achievable. You may follow the underlying guidelines
Show case you are in real business – Shoppers are not alarmed or scared while shopping at big name sites like Amazon, Infibeam, flipkart because they are familiar with these brand names. Shoppers believe in them and are assured product will arrive in time and in the quality they expect. If you are a new player in ecommerce space add – About Us section, contact number and email address, Contact address can also be added to boost customer confidence.
Hand hold your first time visitors – Remember 1st impression is last impression, not easy to wipe out. So make sure you don’t lose out on 1st time visitors, chances are hard to get them back in your website. Create enough tools, videos, tutorials so that transaction is seamless.
Provide Success Stories – Success stories always work, ask your initial happy customer to write the testimonial on your product quality and services actually deliver what you promise. Ensure that you use real customer testimonials with their photos.
Provide Safe Environment - Make sure shoppers transactions are safe, To achieve this Use SSL encryption, Use Thwate or HackerSafe services and prominently display their logo. Shoppers are always concerned of their safety and this concern amplifies while transacting in a new e-commerce portal.
State return policy clearly - Be fair and upfront while stating your return policy. One of the most common barriers to buying on the Web is the difficulty in returning items. Your return policies should include how the customer can return the item and what they need to know if they are returning the item. BigshoeBazaar return policy is simply amazing and its contributing immensely to their business.
Be Prompt - Be quick while responding to customers email, Customers who have mailed and shown keen interest in your product are most likely to buy the product if they are handled properly. Respond to these emailed queries fast. Customers appreciate lightning fast turnaround time and personalized responses.
-Hitesh, vcBytes.com
