Woo Global Markets with ‘Financial Fluency’

Introduction

E-retailers expanding into new markets see success when they translate their websites for international customers. But to achieve sustainable growth, companies must be fluent in far more than a market’s preferred language, writes Charles Whiteman at SAP Hybris’ blog, The Future of Customer Engagement and Commerce.

An easy and resonant way to retailers can connect with consumers is to present regionally-favored payment options in the conversion funnel of their global sites, says Whiteman, MotionPoint’s SVP of Client Services. This seemingly obvious localization is in fact often overlooked, he writes.

This financial fluency is quite important to a global site’s success.

For instance, “shoppers in specific countries who use PayPal-like e-wallet platforms often have smaller average order values,” Whiteman writes. “But the quantity of these local e-wallet consumers far outnumbers those using regular credit cards. This ultimately leads to far more revenue generated through these emerging non-card platforms.”

Ultimately, e-retailers can generate windfalls they wouldn’t otherwise see using this approach, Whiteman says.

Read the full story at The Future of Customer Engagement and Commerce.