Payments Platform Paysafe Introduces Secure and Easy Payment Method for Online Purchases Made in Cyprus
Paysafe, an established specialized payments platform, has introduced a new secure and easy payment method for internet-based purchases made in Cyprus. Customers can use the service to pay for items at almost all online retail outlets.
Paysafecash was created by the same Paysafe development team that launched the award-winning, prepaid cash service, called paysafecard, a multinational service provider in the electronic cash industry.
Paysafecash is currently available in 25 different countries. It’s designed specifically for users who might not have access to a bank account or credit card. The company also aims to serve customers who may not want to share sensitive financial information online. Paysafecash is easy and intuitive for consumers to use.
To access the service, users have choose “Paysafecash” in the online shop as their payment method. After completing this step, the program loads the appropriate QR/barcode to the customer’s wallet. This code may be printed or sent directly to a smartphone. By using the app’s search function, users are able to locate the nearest Paysafecash payment location. The QR/barcode can be scanned by sales personnel, and the transaction is completed.
The online shop directly handles all orders after the payment has been made, and the requested items are delivered. The service does not require users to provide their customer account or credit card information. The company claims its payments process is completely secure.
Although Cyprus’ e-commerce industry remains fairly small, the country’s Ministry of Energy, Commerce, and Industry (MECI) and the Office of the Commissioner of Electronic Communications and Postal Regulations (OCECPR) have been encouraging local residents and firms to engage in online transactions.
Household internet access in Cyprus during 2018 was at around 86%, which is a significant 7% increase from 2017, and considerably higher than the European Union’s average of about 82% and the global average which is only 56.1%.
Paysafe has been offering services in Cyprus for over ten years with its prepaid cash services, the paysafecard, which can be found at around 1,700 kiosks, supermarkets and various local distribution outlets. Paysafecash uses this existing distribution network, which further increases the availability of eCash in the country.
Udo Müller, CEO at paysafecard, the company behind the Paysafecash solution, stated:
“Paysafecash allows consumers who prefer paying cash to participate in the world of ecommerce. We are pleased to offer this innovative and safe payment solution in Cyprus.”
Müller added:
“With this launch, we are meeting the needs of consumers who want to buy things online without disclosing their personal financial details, such as credit card or bank account information. Leveraging our long-standing presence and an incredibly strong network of distributors in Cyprus enables us to offer Paysafecash to consumers throughout the country.”
How To Reliably Solve For Foot Traffic Attribution
Foot traffic attribution, which ties ads to consumer actions, is a challenge marketers have long struggled to solve. As we progress further into the digital age, more companies are advertising through online and offline channels, making it harder to establish which ad campaigns are working and which may be a waste of resources and ad spend. Keep reading to understand the different kinds of attribution and ways location data can improve your foot traffic attribution measurements.
Why Is Attribution So Elusive?
Because there are so many ways you can measure it. And each way, it seems, comes with a degree of uncertainty. Put simply, attribution is elusive because different types of data reside in disparate systems. With data spread out here, there and everywhere, it's hard to arrive at a metric you can rely on and consider water-tight. The Mobile Marketing Association explains multitouch attribution with its Multi-Touch Attribution Data Map. While it covers all types of attribution, it also shows just how complicated attribution is. So where does one start?
The Attribution Continuum
There are different ways marketers use to measure attribution. These methods can be ranked in terms of difficulty. This list starts at easy and progresses through hard.
1. Surveys.
2. Coupon codes.
3. Location data.
4. Pixel tracking.
5. Point-of-sale integrations.
Surveys
Marketers have long tried to solve for foot traffic attribution by asking, “How did you hear about us?” While this is straightforward and allows marketers to assess different channels, both online and offline, the data is not reliable. Most consumers don't complete surveys like this, or they may misremember. As a result, the data tends to be unreliable.
Coupon codes
Another simple way to measure the impact of a campaign is through coupon codes. These are best used for campaign or promotional attribution and less useful for understanding which channel led to a conversion or sale.
Location data
Using location data, marketers can measure the conversion rate between the audience that was targeted and those who visited the store. This forms the backbone of foot traffic attribution.
Pixel Tracking
Pixel tracking adds another layer to digital marketing strategies. With pixel tracking, the marketing team knows who was served the ad and who actually saw it. Using location data, marketers can then measure foot traffic, match it to the audience served the ads, and show ROI for that campaign.
Point-Of-Sale Integration
The most difficult end of the continuum includes POS data, integrated into the other tracking methods. With a range of systems and some data science, marketers can connect ad exposure to real-world visits and actual sales.
Enter Foot Traffic Attribution
Marketers who work with retailers or brands that have multiple brick-and-mortar locations (auto dealers, amusement parks, event venues, etc.) can use foot traffic attribution. This is a more straightforward approach because you only need two types of data that can be easily tied together.
The ingredients for foot traffic attribution are ad data and visit data. Ad data relates to media and the different channels through which marketers serve it. Location data relates to people who were exposed to the media and the locations a marketer is trying to get people to visit.
How Foot Traffic Attribution Works
For foot traffic attribution, a marketer starts with an audience created from location data. For easy math, let’s say the audience size is 100,000 people. The marketer would then push this audience -- made up of mobile ad IDs -- into a demand-side platform, a social media channel or any combination thereof. Ad platforms do not always match the list of mobile ad IDs at 100%, so let’s say there was a 75% match rate, meaning 75,000 people can now be targeted. Lastly, using location data, the marketer can see the impact the campaign has on in-store traffic by measuring the number of devices that came back during the campaign period from the original audience of 75,000.
Three Questions To Ask
Let’s bring this all together and set out some steps you can take to get started on foot traffic attribution, no matter how simple or sophisticated your current tech stack may be.
First, define what attribution means to your company or client. Does it mean getting people to visit a certain location? More specifically, does it mean getting them there on a specific date or at a specific time? Does it mean having people buy something while they’re there? It could even mean getting an audience to buy a single SKU or spend more than they usually do.
Next, determine an acceptable ROI. Are you measuring traffic -- how many people showed up at a certain location? Or, getting far more granular, are you measuring sales per square foot? Your ROI goal may be best made in collaboration with other teams -- product, sales and finance, to name a few.
Finally, get familiar with the location data products available on the market. They are not all created equal. There are variations in data quality, software ease of use, customer service, privacy compliance, scalability, POI accuracy and more. Your foot traffic attribution efforts depend on these criteria. This location data primer for marketers is a good place to start.
The #1 Recipe For Winning Customer Loyalty: Emotional Connect
‘Customer is king’ is a business principle that has been spoken about since the 1990s. Peter Drucker, the ultimate guru of management, once asserted, “the purpose of a business is to create and keep a customer.”
That makes sense: for every brand, irrespective of sector or size, winning customers for life is all about understanding and offering solutions to fulfill their needs.
However, many brands often see customers as mobile-enabled, tech-savvy data sifters who pounce on whichever best deal they come across first on the internet. What they forget is that their customers are human too.
This misconstrued thinking compels the brands to push sales aggressively, i.e., ramp up their messaging across mediums, hoping that the more information they provide, the better their chances are of holding on to the spoiled-for-choice customers.
However, the approach only overwhelms their target audience. A strong emotional connection with a brand translates into higher spending, longer tenures, and a greater share of wallet for the customers.
Therefore, as a business owner, you must go beyond the sales journey and offer genuine value to acquire a lifetime customer.
So, if you are struggling to win customers, then connect with them emotionally in five ways:
1. Leverage the power of email marketing
Acquiring a new customer is more expensive than retaining one. 82% of businesses agree on that. Therefore, stay in touch with customers so that they remember your brand, and continue buying from you.
Email marketing is considered to be highly effective for retaining customers by both businesses (80%) and digital marketers (56%). There are five types of emails that you can send:
i. The welcome email
Such types of emails, on average, generate 320% more revenues per email as compared to promotional emails. Much like a firm handshake, your welcome email is the first step towards forming a positive first impression – a lifelong relationship.
ii. The follow-up email
The purpose of this email is to encourage customers to shop again. After they have bought something from you, recommend additional products, i.e., cross-sell and upsell, and give them a full product experience.
For example, if someone bought a new laptop from your online store, recommend a laptop sleeve or cover to safeguard their new buy.
iii. The special occasion emails
Send an email to your customers on special occasions, such as birthdays, anniversaries, and other milestones, if you can get that information without being intrusive. Besides wishing, send them a birthday voucher of an amount of your choice. Trust me – everyone loves freebies.
iv. The thank-you email
A simple “thank you” can do wonders when it comes to retaining your customers. After all – they are the reason your business is alive. Therefore, thank them for buying and supporting your business. Don’t add CTAs or write the email with a hidden agenda. Just say thanks!
v. The win-back email
Customers have a short attention span, and they disengage with brands for one reason or another. They lose interest, forget your business even exists, or worse, switch to your competitor – whatever it is, you can get them back on your side with a “win-back” email.
Share an update about your business or give them a voucher to shop from you. Think of interesting ways to “re-engage” them.
A mere 2% increase in customer retention can lower costs by as much as 10%; keep your customers hooked on email.
vi. The cart abandonment email
If you run an eCommerce business, you will agree that cart abandonment is a nuisance. The typical industry rate for online retailers varies between 60% and 80%, with an average of 67.91%. To be honest, that’s scary.
However, sometimes, all the customers need is a little nudge from your end to return to the cart and complete their purchase. Don’t let the link break if they bounce off your online store; send them a reminder email instead.
2. Ensure your website creates ample value
According to Accenture, 57% of customers spend more on brands that always offer them something of value. Therefore, don’t push the “sell” message. Your customers must feel like they gain something from being on your site.
As a marketer, I always turn to CoSchedule for their brilliant content and social media calendars. I also find their blogs interesting; they are well-researched and insightful. But what I like most about CoSchedule is the fact they don’t aggressively sell their products.
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Instead, they nurture their potential customers, empower them with the latest industry trends with their excellent content – whether it is checklists, eBooks, or ready-to-use templates. Therefore, give them something that they value as soon as they land on your website.
Alternatively, add value to your product or service by improving its packaging or design. You can increase its value by simplifying its method of use. Apple disrupted the computer technology by making the devices easy-to-use for the non-tech-savvy person.
Even if you don’t disrupt the industry, and take baby steps such as pushing your newsletter subscription by leveraging exit-intent technology, that’s good enough!
3. Be human and interact like one
It doesn’t matter which industry you belong to or how fast you scale up; you should give a live chat service to your customers. After all, 73% of customers think customer service influences their brand loyalties. And what’s better than chat for expanding the loyal customer base?
Listed below are five steps for acing the platform:
i. Greet proactively
Absolutely! Don’t wait for the customer to message you first. As soon as you see a new website visitor, type “Hi!” or something like, “Hey there! Welcome to <insert your company name>. How may I help you?”
If the website visitor is on a specific page, for example, pricing, begin the conversation with, “Hi. Do you have any specific queries regarding our pricing plans?”
Or,
If they are checking out the ‘footwear’ section on your eCommerce site, you can start with something like this: “Hey! We are currently selling earrings at a discount. Interested?”
Talking to a customer is not rocket science; all it requires is pro-action.
ii. Use emojis
Emojis can build an instant emotional connection with the customer faster. They give your brand identity and personality, and add warmth to a virtual conversation. For instance, you can use “😄” for “Hello!” or “😲” for “Oh no!”
Since emojis help amplify emotion and feelings, they can help convey authentic service to your customers and show that you genuinely care about them. The below table by Call Centre Helper has fantastic examples:
A real profile photo is definitely worth a thousand words on live chat. And that can boost the engagement on the channel by 12%. Get professional photos of your customer care staff. The right lighting, posture, and expression can do wonders for your brand.
iv. Address customers directly
When you begin a conversation, ask for their names. It is important. No one likes to associate with a brand that has an impersonal approach with their customers. It’s as simple as that.
v. Be humble
Humility goes a long way in business. Even if a customer is wrong, impolite, aggressive – you should always be respectful. If a customer is angry, apologize but assure them that you will offer them a solution they can’t refuse. You have to give them hope.
4. Storytelling always does wonders
Put yourself in the customer’s shoes, and tell your story in a way that they can understand. Building empathy through an original story will win the customer for life. Make sure you have a great “About US” Page, which narrates the true story of your business and expresses the hard work and dedication you have put through to reach this far.
Yellow Leaf Hammocks, a sustainable Eco-Luxury hammocks seller, is a company with a soul. Their About Us page talks about how the hand-woven hammocks empower the Thai artisan weavers and their families.
Instead of big chunks of text, the online company breaks down different aspects of the story into small sections, combined with simple words and easily digestible graphics.
They are clear about how they stand out.
“DO GOOD. RELAX.” is how their page reads. And then: “NOT A CHARITY, AN EMPOWERING COMMUNITY TRANSFORMATION” – puts emphasis on the women who weave the hammocks by hand. Powerful!
Pages like these attract customers and build trustworthiness as well. What’s the story behind your business?
5. Delight your customer
Delighting a customer is the best way to win them for life. A great way to do that is when they first see your product. Unexpected little surprises in the packaging work wonders. You will win the customer for life by including a thoughtful message or a small gift with their purchase.
Fizzy Goblet, an online store that sells hand-crafted footwear, does a fabulous job here. Their customers receive their shoes in a beautiful box, that includes a sweet message like “put your hair up and foot down,” with a scrunchie! That would make you smile for sure.
It would help if you always took the time to listen to your customers. Leave your intentions at the door, and have an open mind. Yes, that may sound harsh, but if you want your customers to associate with you for life, you have to be willing to listen to what is working (and isn’t) working for them.
Author: Asavari Sharma
Asavari is a B2B content strategist who believes in compelling storytelling. She loves creating digital campaigns and writing creative, shareable content. So far, she has written for MarketingProfs, E27.co, Thrive Global, SmallBizDaily, The Times Group, and The Indian Express, among others, and has helped 60+ clients boost their online visibility.… View full profile ›
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