Jonas Breding at PayPal on why enhancing customer engagement and future-proofing go hand in hand
Trust takes years to build, seconds to break – this saying could just as easily be applied to the delicate relationship between customers and brands. In this day and age, customer engagement is everything. It is the difference between an abandoned shopping cart and a completed transaction, between a buyer choosing your brand and going somewhere else, between a once-off purchaser and a returning customer. With that in mind, check out these five tips on how SMBs can help enhance customer engagement and future-proof themselves…
Develop a digital presence
Every business should be online, if they can. Not only does this help to create visibility and accessibility among target audiences (both in Ireland and internationally) but it also supports sales efforts and builds rapport. From creating an e-commerce website to facilitate sales to using social media channels for customer service, a well-developed, mobile-friendly digital presence can help empower a positive and personalised user experience. In turn, this could turn prospective customers into loyal ones.
Step up security
A recent PayPal and IDC survey* – involving 700 retail merchants, including 247 SMBs, and 8,000 consumers across various markets – found that 78% of people in Ireland cited security concerns during transactions as their top concern when online shopping. In keeping with this sentiment, secure payment processing was cited as a key factor when deciding to purchase a product or service from a retailer or brand by 86% of consumers in Ireland. This shows how important security is when people are choosing brands, shopping online and progressing transactions. Therefore, businesses who fail to offer buyers a secure, streamlined checkout experience could possibly lose out.
Prioritise payments
As well as security worries and friction during the checkout process, more than half (59%) of consumers in Ireland cited a lack of a preferred payment method as a top concern when online shopping. On the other side of the payment coin, 92% of SMBs that have already adopted modern payment platforms reported increased revenue growth. This indicates that having a frictionless payment process, including a variety of payment options, could help increase conversions.
Delve into data
In the world of business, data is invaluable. Whether it’s the total number of sales or the average order value, leverage technologies which allow you to analyse and identify patterns in your customers’ behaviours. Then, it’s about developing strategies to either address a challenge or tap into an opportunity. For example, if you were to find that people were leaving your website during the payment stage of the checkout process, it might be time to review your payment options and processes.
Build trust with transparency
It doesn’t matter if you have amassed a dedicated customer base in your local market in the first year of trading or have been selling cross-border to multiple markets for years, transparency builds trust. That means being upfront about any additional charges consumers might incur – especially if selling internationally – and providing clarity around delivery and returns policies. The more convenient it is for consumers to purchase your goods or services, the more likely it is for them to buy from, return to, and recommend your brand.
Whether you’re selling to consumers or businesses, long-term customer satisfaction and business success is built on effective engagement and enhanced experience. Today, that includes delivering something digital, secure, convenient and transparent.
