So, you’ve got the DivideBuy interest free credit payment solution set up for your customers, they can use it for purchases online, in-store and over the phone, but what’s next?
Tell them about it!
Offering multiple payment options is one of the top ways to reduce cart abandonment and research has shown that 44% of UK consumers will stop a purchase if their preferred payment method isn’t available. So, telling your existing and potential customers that you have new payment methods available is a great opportunity to reach out to them and encourage them to make that purchase they were thinking about.
We’ve got loads of marketing resources available for our retail partners in our Resource Centre, but we also wanted to share some different ways in which you can market to potential customers, along with some examples for inspiration!
Effective POS marketing (digital and in-store)
Banner advertising is a great way to grab customers attention and promote your offer. An effective ad will be simple and clear whilst also encouraging the customer to find out more. Online, these types of ads tend to be placed right within the customer’s eye line, either across the top of your webpage or as a block on either side.
Something as simple as bold text on a plain background stating: “INTEREST FREE CREDIT AVAILABLE” can work to draw attention and let your customers know about this new payment method available.
In-store, you can have standee banners throughout or near the entry so people are aware before they start browsing.
Most eCommerce platforms will have a pop-up function built into them that will allow you to create a custom message that will appear on certain customers screens whilst they are browsing your site. For example, when a new customer visits your website, you can create a pop-up to inform them that an interest free credit payment option is now available. They can then click to find out more, or they can continue shopping with this new information in mind.
When potential customers are looking at your products either in-store or online, they’ll want to know the price. Showing the different ways customers can pay and how they can spread the cost as part of the product information might help encourage them to make that purchase.
Simba is great at doing this on their website and does it at several points throughout the customer journey.
Simba shows customers early on in the purchase process that they can spread the cost of their mattress and provide a monthly cost upfront.
They then repeat this message on the individual product pages, where customers can click to find out more information. This gives the customer a really clear message of how they can spread the cost and what they’ll be expected to pay each month.
Quite often potential customers will put items in their eCommerce basket but abandon it when they get to the payment page. There can be many reasons for this but payment methods and the total cost can both play a factor.
The payment page is another great opportunity to showcase DivideBuy’s interest free payment method on your website, showing them how they can spread the cost. Seeing the calculated cost across several months can be much more appealing than the full lump sum of the product, even though they’ll be paying the same amount overall.
In-store, it’s also a great selling point for you and your sales advisors to use when talking to customers in aiding their purchase decision-making process.
Promotion through social media
Social media is a great place to talk to your current customers and also to reach new audiences.
Visual content really stands out on social media – you want to create content that will grab people’s attention and stop them scrolling. You can also reach new audiences on social media using relevant hashtags and getting involved in appropriate trending topics and conversations.
You can create eye-catching graphics or an animated video to let them know about the multiple payment methods you offer and the benefits of interest free credit and spreading the cost.
Promotion using email marketing
If you’re in eCommerce or collect customer details as part of your purchase process it’s likely you’ll have a mailing list of people you can keep updated on new products, sales or discounts, or new ways to pay.
Sending an email marketing campaign about some new additions to your store along with details about the DivideBuy interest free payment option could be a good way to entice people back to your store and make that purchase. Or if you’ve got re-targeting set up you could email people who have abandoned their cart and let them know they can now spread the cost of that purchase across several months.
There are lots of ways you can let customers know about the different payment methods you offer and how interest free credit can encourage new and existing customers to your store. The important thing to remember is to tell people about it – think about how you market your business and its products or services already and apply this thinking to the DivideBuy payment solution.
Our Resource Centre is full of even more tips and tricks to help you use DivideBuy in your customer acquisition marketing, including suggested messaging, downloadable imagery and how your company can get featured on our social channels.