Feb 04, 2013 Dave King
Electronic payments sales exploded in 2012, and that trend is expected to continue in 2013. A recent Dotcom Distribution study found that demand for ecommerce order volumes grew 34 percent from 2011 to 2012, with both online and brick-and-mortar retailers generating sales increases.
Shirley Tan, president of Ecommerce Systems, and Dale Travler, president of E-Business Vision, plan to offer their advice on effective electronic payments strategies for 2013 in an upcoming webinar, according to Practical eCommerce. Some of those methods include using:
- Mobile payment strategies: Tablets and smartphones are rapidly developing into a go-to shopping platform for customers, so companies need to move quickly to take advantage. However, many organizations are struggling to figure out how to tailor-make strategies geared toward these devices.
Mobile ecommerce methods should offer a unique shopping perspective that differentiates them from general internet shopping.
- Cross-channel approaches: Because consumers use many different platforms to shop, it will be important for businesses to have effective approaches across each of these channels. Maria Haggerty, president of Dotcom Distribution, also stressed the importance of cross-channel strategies. If possible, this includes using everything from the internet to social media to mobile devices.
"Specifically, to keep each channel connected, retailers are turning to logistics providers that can provide accurate, real-time feeds of inventory," Haggerty said. "When a retailer doesn't have accurate inventory information, a customer may visit a store for an item that was 'in-stock' online only to find that the item is not there, or order an item online and later find that it is not available and did not ship."
- Personalized advertising: In order to separate themselves from the competition, companies should try to employ more customer marketing strategies.
"From putting a complementary product selection in front of customers to allowing them the opportunity to alter the details of items selected, personalization will be key in 2013," Haggerty said.
More consumer data exists today than ever before, so businesses should try to take advantage.