what does pci stand for

What Does PCI Stand For?

0 comments / February 5, 2016

Back in 2015, we compiled a short of the most common payment terms you’ll come across when you want to accept credit card payments on your website. For most entrepreneurs entering the online payments world, those terms were unfamiliar because they had never come across them before. That is when it came time to add online payments to your e-commerce website. In which case it highlighted another knowledge gap in the process being that it can be incredibly complex when considering things such as PCI compliance – which is a fundamental part of being able to process payments on your store.

But what is it – and what does PCI stand for? We’ll answer for those questions in this post to help you get a better understanding of PCI.

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ecommerce retention strategies

A Guide On Customer Retention Strategies For Your E-commerce Business

0 comments / February 2, 2016

Editor’s note: This is a guest post by Shahzad Saeed who is a freelance blogger and content marketer

It’s a known fact that the retention of existing customers is cheaper than the acquisition of new ones. Sadly, only 32% of customers actually order second time over the course of the first year. That is, most customers are leaving your store after the first purchase.

If you have been in the e-commerce business for a while and haven’t considered customer retention as a serious strategy, you’re leaving a lot of money on the table.

In fact, if you could successfully nurture the leads, through different phases of the customer lifecycle, you can increase the overall ROI and eventually increase the overall lifetime value of customers.

So, let’s see how you can retain your existing customers in 2016 for your e-commerce store.

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SaaS sales

How To Quickly Get Started With Selling Your SaaS Product [Infographic]

0 comments / January 29, 2016

If you’re building a SaaS startup then you know how important increasing your monthly recurring revenue (MRR) is to covering your costs and becoming profitable.

MRR will be one of your key SaaS metrics you’ll need to track and is essentially predictable income you can expect each month from paying users. Since you’ll most likely be operating under a subscription model you’ll want to know how much revenue you’re generating each month to get a clear picture of your performance.

Which means you’ll need to step up your SaaS sales and marketing activities to see your MRR grow. However with resources most likely tight in the early stages, everyone from the founders to early employees will need to pull together to drum up sales. And what if you’re new to sales – and haven’t hired a sales person yet?

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Things You Should Know When Becoming an Entrepreneur

10 Things You Should Know When Becoming an Entrepreneur

0 comments / January 25, 2016

Editor’s note: This is a guest post by Natalie Smith who writes about startups and social media

The spirit of the entrepreneur will bring zeal and hope for the future. However, feelings of excitement should lead people to want to make wise decisions. Starting a business often brings failures, but that doesn’t mean you should ever give up!

Despite all obstacles and setbacks along the way, there are a few things you should always keep in mind in order to reap the rewards of entrepreneurship. In this article, I’ve listed some of the most important tips that any new entrepreneur will need to apply going forward.

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ecommerce customer reviews

7 Strategies For Attracting More Customer Reviews

0 comments / January 21, 2016

Editor’s note: This is a guest post by Kristina Azarenko who is a marketing manager and SEO specialist at Amasty

Today we’re living in an information-packed world with easy access to the internet. But even 10 years ago people preferred to ask friends and relatives for opinions about particular products while today they can easily find reviews for just about any product online. Reviews have become an important part of online shopping, and there’s no wonder: customer testimonials can greatly influence your store revenue by increasing your conversion rate by as much as 35%.

The significant impact of customer reviews leads to the question – how to make customers share their opinion? If you own an online store or connected with an e-commerce platform, you know that getting a customer review can be a bottleneck. They always promise to post their opinion but rarely do this.

However in this post, I’ll share some ideas with you. Some of them will seem obvious, some will not, but in any case, they will help you to rethink your strategy on getting customer reviews.

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best ecommerce posts

Best Blog Posts Of 2015

0 comments / January 15, 2016

With 2016 underway, it’s that time again where our first post of the year looks back to highlight the best content from the previous year. In no particular order, and based on traffic and social media shares, here’s the best from the PAYMILL Blog in 2015.

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how to get traction for your saas startup

How To Get Traction For Your SaaS Startup

1 comment / December 17, 2015

Editor’s note: This is a guest post by Niraj Ranjan Rout who is the founder of Hiver.

When people start companies, the first thing they focus on – Fundraising. I’d say that’s a big mistake.

Where should they focus instead? TRACTION.

There are various ways to define traction. The most important aspect of traction if you’re a paid product, is real paying customers whereas if you’re a free product, it’s real engaged customer base.

Even the tiniest bit of traction is enough for investors to overlook some of your deficiencies, and start trusting you. Traction is THE indication that your team can produce real results in a real market.

Coming to SaaS, the market has grown in leaps and bounds with both consumers and businesses displaying an insatiable appetite for easy access, and consumption of data. At the same time, it has become increasingly competitive with newer apps hitting the counter at a pounding rate. As a result, more and more newbies are shutting shop as consumers just won’t buy from them!

I wonder what most of them lack. Everyone has a good product, yes, everyone. What do most people fail to garner? Traction.

I built Hiver to facilitate team collaborations, and foster productivity, at work. The app has been around for over 4 years now, and we’ve learned some very handy lessons about building traction early on. All of which I will now delve into in this post.

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magento store development

5 Common Mistakes to Avoid in Magento Store Development

0 comments / December 10, 2015

Editor’s note: This is a guest post by James Hein who is a web developer with 10 years experience.

With around 13% websites using Magento for their eCommerce purposes, Magento becomes world’s second most used platform for eCommerce solutions.

Considered as one of the ideal most platforms for intensified functioning and foolproof customizing, Magento becomes the right package for performing essential eCommerce functions like store management, customer services, feedback, improving sales, rewards, and other functions.

In a competitive global market, you cannot afford to avoid fundamental development mistakes in your Magento store. For the highest quality customer services and top class functionalities, it is essential to prioritize visitor and customer requirements along with adapting to modern needs of the web for improving your sales.

For putting your store on fastest selling wheel, avoid these five pitfalls in your Magento store development.

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christmas ecommerce holiday stats

Top E-commerce Holiday Statistics To Remember For 2016

1 comment / December 4, 2015

During the past week, we’ve witnessed a flood of special deals from e-commerce websites for Black Friday and Cyber Monday. However with those special promotions now firmly behind us, it’s now back to reality with regular prices. But how did 2015 compare with last year? And what insights can we get for an even better year in 2016?

That’s what we’ll find out in this post, as we take a look at some e-commerce holiday statistics from 2015 you should remember for a record-breaking 2016.

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ecommerce email marketing strategies

3 Effective E-commerce Email Marketing Strategies

0 comments / November 27, 2015

Did you know that email is the second most effective customer acquisition channel? That’s right! With email now accounting for more than 7% of e-commerce customer acquisitions behind search (15.9%), email marketing can be a powerful tool to boosting your e-commerce sales.

So while social media tends to take all the headlines when it comes to marketing your business, and driving traffic to your e-commerce website. It’s email which seems to be the forgotten child for communicating with your future and current customers. What’s more is that customers acquired through email have a lifetime value 12% higher than average, compared to Twitter where their value is 23% lower than average.

There’s no doubt email is a powerful tool. And in this post we’ll look at a few email marketing strategies that will bring people back to your e-commerce website and continue purchasing from you.

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