2022 was a year to remember! Despite challenging socio-economical events over these past 12 months, the world kept spinning, and we are now reaching the end of 2022 with peace, gratitude, and hope that what is to come will be better.
Online business survived and overcame numerous challenges once again, from global crises to severe income fluctuations, while also welcoming opportunities like those brought by the fast pace of advancing technologies. As we reflect on another full year that’s passed, we are excited to share with you the content highlights of 2Checkout (now Verifone) for 2022:
Merchant Of Record: The Complete Guide
The winner takes it all! This is exactly what an MoR business model brings to the table for eCommerce players looking to scale globally. We put together an open guide for anyone who is pursuing the online business world and planning their growth strategies for the next year. Our MoR guide takes you through:
- What a Merchant of Record is;
- How it works;
- The roles and obligations when processing online payment transactions;
- The difference between a Merchant of Record, a Payment Service Provider, a revenue delivery platform, and a Seller of Record; and
- The challenges of being your own MoR.
Country Guides Series
Companies looking to expand their online business to include cross-border sales know the amount of research and planning needed to be done beforehand.
Whether you are already tackling this eCommerce growth strategy of scaling cross-border or have decided to pursue it but don’t know where to start, our dedicated country guide series will provide a solid starting point. These eBooks cover the key aspects of expanding into international markets – the state of the eCommerce market in the target country, information about customers’ local preferences in terms of product categories, payment methods, checkout flows, or subscription renewal rates, as well as insights on the taxation and data privacy regulations in select regions. On top of that, there’s also actionable advice and best practices from 2Checkout’s own experience in those local markets.
In 2022, we went on a virtual tour around the globe and delivered insights about the eCommerce markets in China, Australia, Israel, Mexico, Denmark, Spain, Finland, Norway, and Italy.
Explore the resources dedicated to your target countries of interest and prepare to conquer international markets!
How Localization Impacts the Online Payment Experience
Global commerce unlocks endless growth opportunities, but it comes with many complexities. Accepting global payments, managing billing, handling merchandising, optimizing localization, or balancing compliance and risk are all business concerns that call for attention and dedicated efforts when expanding your reach cross-border.
Check out this webinar with Nataliya Shadykulova, Head of Digital Sales EMEA at 2Checkout (now Verifone), which addresses what each of these areas entails and the type of commerce capabilities that can help you prepare your expansion into local markets. You will learn:
- How to enhance your shoppers’ experience by localizing the buying experience to their preferences
- Why it pays to optimize the purchase funnel at the country level
- What types of different regulations should be observed when entering new markets
- Examples and benchmarks from several markets on why it pays to have a GLocal approach.
We couldn’t possibly leave out our biggest event this year – CommerceNow’22. CommerceNow is the premier digital event in eCommerce, bringing together the biggest industry leaders on the virtual stage to talk about the future of digital commerce.
From eCommerce founders, to specialists, marketers, sales reps, and revenue leaders, we meet annually to share insights and growth inspiration that will give all eCommerce businesses out there a boost.
CommerceNow’22 took place in June, but you can enjoy all the replays at your own pace, ordered according to theme, and watch, digest and apply them to your business whenever needed:
- How Payment Innovation Helps Merchants Address New Omnichannel Expectations
- Visual Commerce Revolution, the New Way to Experience Shopping
- Faster ROI With AI-Powered Customer Engagement
- Opting In to Optimization
- How Tax Impacts Your eCommerce Business and How You Can Manage It
- CRO Tools & Tips That Will Successfully Convert Leads to Pipeline and Sales
Enjoy the sessions, and make sure to let us know in the comments which of our speakers’ insights you’re targeting to work on in 2023!
Bring Customer Success to Your Business Strategy
Should the customer success department be involved in your company’s revenue goals? Keeping good customer relationships is essential to retaining revenue in a modern SaaS. Most traditional customer success models are focused on customer satisfaction but have no strategy to bring in new revenue.
Just on the verge of this year we had the pleasure to talk with Philipp Wolf, Founder&CEO of Custify, about Leveraging Revenue Data to Lower Churn and Improve Growth Through Customer Success. Our agenda for this discussion included:
- The customer data ecosystem
- The revenue data essentials in customer success metrics
- The real reason your company invests in customer success
- How customer success grows revenue using this data
If you’re interested in CS practices, we also recommend this very recent article on What Does “Customer Success” Mean for Software and SaaS and How Do You Measure It?
Tips and Tricks for SaaS Business
In an increasingly competitive market, SaaS providers need to keep developing their service to ensure that it stays relevant and appealing. This includes updating their pricing models to reflect changes in customer preferences. Right now, many businesses have a strong preference for usage-based pricing. This means that offering it can give SaaS providers a significant advantage over competitors that stick with flat-rate pricing.
This article offers valuable insights on How Usage-Based Pricing Benefits SaaS Providers and Their Customers.
And, if we are talking about SaaS, we have a trick or two on How to Switch Sleeping SaaS Subscribers Back On, so you can gain territory back while constantly improving your products.
But if you are still facing some difficulties on your SaaS business journey, we recommend this article about 5 Potential Reasons You’re Not Meeting Up With Your Growth Goals.
For more SaaS insights, check our dedicated resources on this topic in our How-to section.
SaaS Trends, According to Experts
SaaS and subscriptions businesses have seen fantastic growth over the past couple of years. A considerable number of companies moved to the digital landscape, and a transition to SaaS brought some predictability in terms of revenue. This year, subscription eCommerce sales reached $26.67 billion in the United States, and the number of sales will further grow to $38.2 billion by the year 2023.
In 2022 we gathered predictions from industry experts and put them all together in this article. What do you think – were they right?
Bonus: check out this article on what SaaS Leaders Consider was Their Best Business Advice They Ever Received.
Comparing eCommerce Solutions? 12 Questions to Ask
Are you looking for the most refined eCommerce platform for your web store? It’s a major decision and one that can have a long-term impact on your business goals. Choosing the right platform for online sales is undoubtedly a difficult decision with a wide range of factors to consider.
When comparing eCommerce solutions, either for starting off in the field or for upgrading as your company enters maturing stages, use these 12 questions as your guide.
Give me 5 eCommerce Tips to Optimize The Checkout Page and Boost Conversions
The checkout page is one of the strongest pillars of conversion when it comes to selling online. It is the place where the customer makes their final decision whether to make a purchase or not. Having a smooth and seamless checkout flow is one of the most important factors to consider when building your eCommerce business strategy.
Discover our insights on boosting cart conversion rates in the dedicated article or by watching the video session, and get optimizing!
If you’re looking for more actionable, bite-sized insights, our “Give Me 5 tips” series is a crowd-favorite on the site – discover all episodes for concise and insightful business recommendations. Make sure to follow our resource page next year too and look out for more episodes in this series!
Is Your Checkout Ready for the Holiday Season?
Just ahead of the holiday season, we welcomed readers with a themed session on how to best improve and adapt their online business to the very cheerful yet busy days at the end of the year.
Together with Nicoleta Danilet, Senior CRO Specialist at 2Checkout (now Verifone), we provided great advice on how to prepare your checkout page for the holiday season.
CUT! It’s A Wrap, Folks!
Our 2022 trip around the sun comes to an end, and if you made it this far, we would like to take our time to offer our deepest gratitude and good thoughts to everyone out there who is doing the best they can in their industry, building engaging and memorable shopping experiences for customers around the world.
We thank you for trusting us, for inspiring us to be better every year, and for building partnerships together as we reshape digital commerce markets.
See you next year! Better. Stronger. Together!
Happy Holidays and a Happy New Year from the 2Checkout (now Verifone) Team!