In recognition of the growing importance of blogs as a source of information for e-commerce aspirants, the UK Market-Inspector has named the best e-commerce blogs in 2017. One of the first awards went to the Munich-based online payment service provider PAYMILL.
A successful customer loyalty program allows you to celebrate frequent customers and reward them with deals that make them buy more and love your store more. When done right, everybody wins, and you get a slew of people who want to talk about how great you are. The trick is making sure that your program engages and entices the customer the first time and then the fiftieth time they take part. We all know that it can cost as much as 20-times more to get a new customer than to keep existing ones, so you really want to try and make sure that you are spending your dollars smart and keeping those customers. The Harvard Business School even notes that increasing customer retention rate by 5% can increase your profits by as little as 25% or as much as 95%.
Now you know that you can benefit from a loyalty program. Let’s look at how you can create your own and keep it profitable.
Bitcoin is still around 7 years after its detractors predicted its rapid demise. Not only has Bitcoin survived, but it has also thrived, becoming the Internets first digital currency. In November of 2017, be have seen Bitcoin reach the unimaginable threshold of $10,000 USD per BTC (Bitcoin) before retracting to hold steady around $7500 USD per BTC. Yes, Bitcoin is an extremely volatile financial instrument, but it has remained rather bulletproof against hacks, regulations and a conventional sector that was hell bent on derailing it. With Bitcoin adoption rates at an all time high and Bitcoin taking its place as the Internet’s very own currency, has the time come to include Bitcoin as a payment method on your site? The simple answer is yes, and you should have implemented a Bitcoin payment gateway years ago. Bitcoinplay.net facts on the crypto-currency tell us Bitcoin and blockchain technology are here to stay. Here is why Bitcoin is the future of Internet transactions and why you should accept it, if you haven’t already.
Starting your own online store is a dream come true for every entrepreneur. However, cash flow is the lifeline of every business and unless you have enough money to run your business, your dream can quickly turn into a nightmare. Most first-time ecommerce business owners make the mistake of focusing too much on growth, while neglecting the cost of running their business. As a result, many hidden costs crop up and snowball into large expenses, eat into your profits, and eventually slow down your company.
Here are 5 hidden costs that can hurt your Ecommerce business if you don’t monitor them regularly.
You may already have a great business. However, there are always things that you can do in order to make it better. Improving your business will help you to attract clients and to increase your revenue, and can help you to feel more personally fulfilled as well. Here are a few tips you can consider implementing.
At PAYMILL we love our merchants and are enthusiastic about their products and services. That is why we chose every month one of them to be our amazing Merchant of the Month. Doing so, we select particularly innovative business models, exciting products or unusual services.
We are proud to present Codeable as a new Merchant of the Month.
When your online store is up and running and you are already processing payments, it is not uncommon for your payment processor to contact you after the activation of your account. These requests can concern the processing of your account, specific transactions and or compliance issues, just to list a few. They are in general important and a prompt response is needed in most cases. The contact by email or phone might come from your processor, however the initial request might have been raised by the acquiring bank, regulators such as VISA and MasterCard and other financial institutions related to the processing of your transactions and payments.
Churn is nothing unusual for an SaaS company — but it is bothersome. If you can understand how to minimize it, you can grow your business. That all sounds simple enough. But as David Skok explains, the paradox is that the more your SaaS business grows, the more your unsubscribe rate can take a hit for the worse. As a result, you’re not really growing. If your churn gets out of control, you might even lose more customers each month than you’re actually gaining. This is akin to cash flow where there is more money going out than is coming in. As a result, your business dies because it costs you five times as much to acquire new customers as it does to retain existing ones.
To make things even trickier, finding a solution is difficult because all SaaS companies are different. If you’re in the digital goods niche, join me as I take a look at how you can reduce your unsubscribe rates and churn for your SaaS application.
Word of mouth used to be the ideal way to sell your products. People would buy something from you, and tell their friends – who would then buy something from you. You would naturally build an audience. Now, that commerce is shifting from physical shops to eCommerce stores, word of mouth has switched from actual mouths onto social media.
If you run an eCommerce business, then social media marketing is the best way to generate word of mouth and brand awareness. That being said, it also has a positive effect on the other digital marketing that you will most likely be running. Social media marketing has value in itself, but treated correctly – it can also amplify the benefits of other digital marketing.
Despite the fact that earlier people considered blogging as a perfect tool to have some fun on the web, nowadays it’s a great moneymaking machine. Moreover, blogging is a hobby, which allows you to showcase your own style, point of view, and to state yourself as a brand.
Here is the same thing with an entrepreneurship. People are sick of bosses and a routine job, for this reason, everyone tries to become independent by growing the income online. In fact, it is not as easy as it seems at a glance. You need to work hard to get your audience and to keep it engaged.
So, if you have your own blog or any kind of online business, you have to build tight relations with your visitors and to become a source of a reliable opinion for them. However, if you’re looking for an automatic cash flow with your blog or online entrepreneurship, there are some proven ways to succeed.