Welcome to the introductive article about COD: cash on delivery; the ultimate strategy for e-commerce businesses.
When you run an online store you must make sure that the payment process is as easy and effective as possible. It’s the most important factor of your business if you want to make a living out of it.
Today, the market is full of options when it comes to online payment. There are so many methods that it can be overwhelming for you. Yet, offering different payment options means giving a good customer experience. It also means expanding your audience and your revenues.
This is why uDroppy introduced a brand new payment method: the cash on delivery. It will help you improve your business performance with ease.
Before we go into details about COD, let’s see which kind of payment methods you can and should accept on your store.
The payment methods you should accept on your online store (not only cash on delivery)
The most common and used payment methods are credit and debit cards. Followed by the well known bank transfers.
They are what we could call classical payment practices. To deal with them, you should take into consideration a payment gateway.
Payment gateways are systems that allow you to accept cards and electronic payments. They connect your website to the payment processor. In this way they ease the transactions by encrypting sensitive data.
The market offers loads of payment gateways. The most popular are PayPal and Stripe, but you should analyze them all and find the one that best suits your needs.
Thanks to the continuous evolution, the market developed new payment methods lately. The following are the payment methods you should keep an eye on to be always at the top of the game.
Since November 2013, the success of BitCoin took off. It is one of the cheapest way to transfer payment all around the globe.
This is why other companies are evaluating to create cryptocurrencies for their business. It’s the idea that is driving Libra. It is a cryptocurrency that will be launched in 2020 thanks to the work of 28 companies. Among them also players like Facebook, Uber, Spotify and Mastercard.
If you have cryptocurrency and you want to manage it, you will need an e-wallet.
E-wallets are easy to use and fast. They store personal data and funds that will be used to buy online products and services.
E-wallets can also work with mobile wallets thanks to NFC (Near Field Communication) connection. This means that they are also powerful payment tools for a brick and mortar stores.
2. Mobile Payments
Credit cards are not used everywhere. There are still some countries all over the globe, where people have no access to credit or debit cards.
This is why you have to think bigger when it comes to payment. At least, if you want to go international and give your clients the best customer experience. In this context, mobile payment are the best way to empower people to pay both online and offline, without a credit card.
If you don’t want to leverage mobile payment, then you should go for cash on delivery (keep reading to know more about COD).
E-payments include all the options you can use to pay your orders while using the internet.
Despite being the era of the technology revolution, some people are still skeptic when it comes to online purchases and payments.
In fact, many of them still prefer to pay with their cash when the product arrives. This is why you should use cash on delivery in your payment strategy.
In the next paragraph we will see all the details of COD and how uDroppy implemented this new service to help you reach the top, as always.
The Cash on Delivery (COD)
Cash on delivery has been long used, since before the digital era and the online shopping.
If you don’t know what COD is, don’t worry. We will explain right away.
Cash on delivery is the service that allows you to pay the goods you purchased online only when the products are delivered into your own hands.
This means that you don’t have to pay anything before the delivery. It also means that you can see with your own eyes the quality and integrity of the product delivered.
We are sure that now you see the convenience of this payment method for customers.
Yet, offering COD to your clients give some advantages to your business too:
Wider audience. Despite being 2019, there are still many countries where credit cards and online payments are not common. If you want to expand your audience and go international, you should consider doing Cash on Delivery;
Better customer experience. Giving your clients the opportunity to pay either when ordering or when receiving the order is important. By making them choose which is their favorite payment option, you will show them how important it is, for you, to make them feel at ease. This will grow your trust and improve your public image;
Improved confidence. Today, buying online is normal. Last year 2.489 trillion dollars were spent for online retail. Yet, some people are still afraid to buy online. Even more when it comes to small business with no or low brand recognition.
In this case, having a COD service, will help you turn these prospect into customers with ease. They will be more likely to buy from you because they feel safer.
Here at uDroppy we study the sector and the market to give you the top-level service you deserve and to help you become a key player in the field. This is why we developed a new partnership with a logistic company able to provide you with the best COD service for your clients.
Thanks to our new service you will be able to expand your audience, improve your performance and raise you revenues with ease. And moreover, you can do it all with one unique partner: uDroppy.
Thanks to uDroppy’s COD you won’t have to lose time looking for logistic partners. We have the best one that will grant you faster shipping, higher conversion rates and customer retention.
If you try to find your own logistic partners you have to invest a huge part of your time, taking it away from marketing and store optimization. But that’s not all, you have to close multiple contracts according to the country you want to sell in. And, you have to set up legal entities in everyone and each of them. Not to mention that you never know if your partner is reliable and efficient.
Doing COD with uDroppy means managing all the operation from one unique dashboard. You will be able to deliver and offer cash on delivery in Italy, Spain, Portugal, Hungary, Bulgaria, Greece and Romania, without problems.
Convenient, isn’t it?
If you are still unsure about the benefits of Cash on Delivery, we have something for you. In fact, thanks to COD you can raise your Conversion Rates up to ten times.
Ten times! You read it well!
Want to know more about it? Reach out to your e-com manager and ask him/her some further information to help you start taking advantage of this effective tool!
COD Take Away
In order to become the best player, you have to keep improving your store, products and services.
One of the best ways to do it is by offering your clients a wide set of payment options.
In this context, Cash on Deliver has a huge impact on your business. It can multiply your conversion rates up to ten times, expand your audience, improve your customer retention and, of course, allow you to see your revenues sky rocketing.
If your goals is to build a successful e-commerce business, remember that the satisfaction of your clients needs and expectations is the most important factor.
uDroppy is the best partner to give your customer an astonishing customer experience. We do it by giving you the best products on the market at the most convenient price. Plus, we provide a wide set of powerful tools that will help you become a key player of e-commerce.
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