In the dynamic landscape of the digital economy, B2B payments play a pivotal role in shaping business interactions. These transactions, occurring between businesses rather than consumers, facilitate the exchange of goods, services, and funds. As we step into 2024, the significance of B2B payments intensifies, driven by technological advancements, changing consumer behavior, and global market shifts. Fiscal year 2023 witnessed an unprecedented surge in B2B payments, reflecting the growing reliance on seamless financial processes. From supply chain management to cross-border trade, B2B payments ..read more

Updated December 2023   Online companies face unique challenges on the road to profitability. In the rush to generate revenue and build a customer base, high churn rates and an inability to scale can quickly derail even the best-laid profitability plan. What typically separates the companies that reach profitability from those that don’t is the ability to leverage existing customers. As many businesses quickly discover, it is existing customers, not acquisitions, who are the best and most cost-effective sources of new revenue.  Online consumers expect you to do your best to meet thei ..read more

In the blink of an eye, the digital goods market has rapidly exploded from a niche sector to a large chunk of the eCommerce landscape. Valued at over six trillion USD as of 2023 – that number is expected to grow to over nine trillion by 2027. Such rapid growth has revolutionized how consumers shop and sent governments worldwide into a frenzy, trying to adapt their tax policies to keep up with this new reality. The result? A complicated set of rules and regulations spanning the North American markets – the United States and Canada. Adding fuel to the fire, each state/province has their own vari ..read more

In the dynamic realm of eCommerce, customer retention isn’t just a strategy—it’s a game-changer. As the competition heats up and consumer choices multiply, the power of keeping your existing customers engaged cannot be underestimated.   This article delves into the art of tailor-made retention strategies, strategically aligned with the multifaceted stages of the customer funnel. By recognizing the dynamic nature of customer journeys, we unveil a comprehensive approach to nurturing brand loyalty and engagement.     As we navigate through each distinct phase, from initial aw ..read more

Ensuring the most optimal performance of your website and shopping cart is crucial to success in the competitive and fast-paced landscape of eCommerce. Conversion Rate Optimization (CRO) provides a strategic approach to achieve this focused on increasing the percentage of website visitors who complete desired actions, such as making a purchase. At the heart of CRO is A/B testing, a method that allows businesses to experiment and analyze which changes lead to improved conversion rates. In this article, we will delve into the significance of CRO and A/B testing for eCommerce success, highlightin ..read more

The superpower benefits of recurring revenue for an eCommerce business are easy to understand: reliable and predictable cash flow; loyal customers; and freedom to focus on innovation and business growth. But what are the best ways to measure, track, and boost that recurring revenue?  In a recent webinar, “Mastering Recurring Revenue: Tips for Reducing Churn,” Shannon MacLeod, Director of Strategic Growth at Verifone, shared her best retention strategies for recurring revenue, with a comprehensive overview of its foundational definitions and metrics. Shannon also presented tips and tricks ..read more

Membership retention is a big deal. Get it right and you’ll have a solid business with repeat customers who love you. Fail to retain your members and you’ll struggle to realize the growth you dream about.   What does it take to master membership retention? Lots.   There are complex strategies and tactics and some that are much easier but just as effective. This guide is all about the easier and effective strategies and tactics. You’ll find 10 ways to improve your membership program for longer membership lifecycles, and happier members. The strategies and tactics listed below have bee ..read more

Hi there, and welcome to our “Give me 5 Series!” where we share five useful eCommerce tips that will help improve your strategies and pave your way to success. In our newest episode, Michael Nicholas, Head of Digital Sales, Americas at 2Checkout (now Verifone), talked about five essential tactics you should consider when looking to win back lost customers. Today’s highly competitive climate is providing consumers with countless choices when looking for a product or a service.  This is a challenge for online businesses, as users can easily jump ship to your competitors’ solution. Let ..read more

Conversion rate is one of the most important key performance indicators (KPI) used by both marketers and business people. Monitoring the conversion rate is crucial for decision-making, especially for businesses selling products online. Moreover, the success of marketing campaigns and marketing budget allocation is also determined by this metric. For this reason, it is very important that you define your conversion properly, considering your business goals, and that you monitor its evolution closely.   How to define conversions There are different actions that can be tracked as a conversio ..read more

Hi there, and welcome to our “Give me 5 Series!” where we share five useful eCommerce tips that will help improve your strategies and pave your way to success. In our newest episode, Alina Motorga, Product Manager at 2Checkout (now Verifone), talked about five tested strategies to help you reduce voluntary churn. Naturally, the churn rate of your business has a direct effect on your revenue, profit margins, and, ultimately, on your entire business. To minimize those risks, there are countless strategies that you can implement to reduce voluntary churn and boost your revenue and custo ..read more