Get ready for the biggest shopping weekend of the year, which starts on Nov 27th. This year’s Black Friday and Cyber Money online shopping sales will be higher than ever, as millions of people stay indoors this holiday season and looking for great deals online. We gathered some of the best practices you can do now to ensure a great shopping experience for your customers.
Set up a promo campaign
Activating a promo during the holidays can be one of the best decisions you can make to grow your business. In fact, a properly implemented promo will not only lead to increased revenues, but it can also improve relationships with your customers. On average, we see a 300% increase in revenue for businesses that activated at least 30% discounts. People want to get the best deals, especially during holidays. Having an online promotion can help you sell less popular products and drive your customers to spend more. Activating a holiday promo provides you a ground to release new products and enter the market easily.
Activate local payment methods
More than 4 billion people pay using local payment methods worldwide, such as local e-wallets, bank transfers, and prepaid options. Accepting alternative payment methods is the key to unlock the full potential in emerging markets, such as Brazil, Mexico, Indonesia, and Thailand, where credit card penetration remains low. Local payment methods can also boost your revenue in the markets where people tend to pay with online bank transfers or local e-wallets, such as in Germany, the Netherlands, Sweden, Russia, Korea, and China.
Increase your server’s capacity
If there’s one thing that sends an online retailer into a spin on Black Friday, it’s to see their website struggling to cope with the sudden volume. Hours and hours of hard work increasing the front door’s size and telling people about the offers inside will go to waste if the shop can’t cope with the number of people trying to get in. If your website is outsourced to a hosting provider, you must make sure you speak to them in advance. Not everyone will know Black Friday is approaching, and they certainly won’t know what sales or marketing activities you’ve planned, so make sure you tell them in advance.
Build a great communication strategy
A holiday promo can spark a human connection by being an avenue to communicate with your customers. It isn’t just about increasing monetary revenue – it’s also about building a good relationship with your customers. Great promotions can lead to effective and organic viral marketing.
Paymentwall allows millions of people around the world to make payments using not only credit cards but also over 150 local payment options, including bank transfers, e-wallets, and prepaid cards. Additionally, Paymentwall’s call centers, risk and fraud prevention divisions, and merchant support teams work 24/7, 365 days a year to assist merchants and users around the world.
To find out more about Paymentwall and start accepting payments in local markets worldwide, please visit www.paymentwall.com or send us a message at bizdev@paymentwall.com.