4 Places You Can Find and Buy Online Businesses for Sale

Building your own business can be a rewarding experience. However, it can also mean long hours, many rounds of trial and error, and lots of hard work.

Fortunately, there is a way to fast-track through those turbulent early years. By purchasing a ready-made business, you can take over an operation that's already generating healthy profits and has a loyal customer base.

In this post, we’ll discuss why becoming a successful business owner doesn't always mean starting your empire from scratch. We’ll then share four places where you can purchase a profitable online business today. Let’s jump right in!

Why You Might Want to Buy an Online Business

Starting your own business can be rewarding and lucrative. However, building a business from the ground up isn't always the best option.

Whenever you start a new venture, there’s always an element of the unknown. Even if you’ve created a thorough business plan, there’s no guarantee that your company will be profitable.

In fact, according to data from the Bureau of Labor Statistics, 50% of small businesses fail within the first five years.

Instead of taking a gamble, you might decide to buy into a businesses that has a proven track record.

By purchasing a company that's already established, you can fast-forward through those turbulent early years and get straight to the fun part: running a successful online business and enjoying the profits.

You may also want to buy a ready-made business if you have limited experience building a company from scratch. Purchasing a pre-made empire is particularly attractive to first-time entrepreneurs who dream of running their own businesses, but are unsure where to start.

Some entrepreneurs also purchase online businesses as a means of generating passive income, sometimes in addition to working a full-time job.

Since the business is already established, it can often start providing revenue immediately, with very little manual input from you.

Alternatively, we’ve seen business owners buy into an existing company in order to gain more market share within their industry. By absorbing some of the competition, you can position yourself as a true market leader.

For all these reasons and more, buying an already established company can often be a smart option. Below, we'll take a look at where to find online businesses for sale.

4 Places You Can Find and Buy Online Businesses for Sale

If you’re keen to invest in a thriving and profitable online business, there's no time like the present to start shopping.

Here are four of our favorite marketplaces that specialize in helping eager buyers find the perfect five-star online ventures for their needs.

1. Shopify Exchange

Shopify Exchange is a marketplace dedicated entirely to businesses built on the Shopify platform. Any company you purchase via this marketplace is guaranteed to be built using this popular ecommerce software.

This makes Exchange perfect for anyone who has previous experience with the platform, or if you're specifically looking for a Shopify-based business:

The Shopify Exchange marketplace.

Shopify Exchange plays host to a wide variety of stores. There is a useful search function that can help you to pinpoint your dream business.

You can use search filters to quickly narrow down your search based on crucial characteristics, including business type and size:

Searching for online businesses to buy on Shopify Exchange.

When purchasing an existing company, it's important to keep your eyes out for incorrect information. Some unscrupulous sellers may attempt to withhold details or even tweak their statistics to try and secure a sale.

However, Shopify business owners integrate their stores directly with Shopify Exchange. This prevents them from tampering with any of the data that’s pulled from their sales listings.

While we always recommend conducting thorough due diligence, this integration provides great peace of mind and helps buyers to make confident purchases.

2. AcquireBase

AcquireBase has a huge database of online businesses for sale, and a powerful search function with all the filters you need to find the company that’s right for you.

You can use these filters to narrow down listings based on keywords, or to view only businesses that adhere to a specific model.

With its focus on startups, AcquireBase is a good choice for anyone looking to purchase a smaller business:

The AcquireBase marketplace for online businesses.

One feature that really makes AcquireBase unique is its Premium membership ($299 when purchased annually). With this, you’ll be able to view listings and contact sellers 14 days earlier than regular buyers:

Searching for online businesses to buy on AcquireBase.

AcquireBase doesn’t charge a commission for successful sales. To ensure that transactions are secure, online business sales are facilitated through a partnership with the leading online escrow service, Escrow.com.

3. Flippa

With almost 6,500 live listings at the time of writing, Flippa offers plenty of choice, and claims to have generated over $400 million in sales. Flippa isn’t solely dedicated to selling online businesses, as it also sells applications and domains.

However, the service divides its offerings into categories, so you’ll have no problem narrowing your search to online businesses only:

The Flippa marketplace for online businesses.

Flippa even offers subcategories for all of its listings. This means that you can easily filter your results to view ecommerce businesses created using Shopify, Amazon FBA, and more.

These fine-grained filters mean that Flippa is ideal if you’re searching for an online business that uses a specific platform or technology:

Searching for online businesses to buy on Flippa.

Unlike some other online marketplaces, Flippa offers its own escrow service rather than partnering with an external provider. This integrated approach promises to make the transaction process smooth and secure.

Uniquely, Flippa also offers two legal service packages, which are geared toward sales under $100,000 and over $100,000.

4. Empire Flippers

Empire Flippers is an Inc. 5000 company and marketplace that boasts an 83% sales success rate. Unlike some other marketplaces, Empire Flippers takes a hands-on, personalized approach to help people purchase online businesses:

Empire Flippers' has a range of hand-picked online businesses for sale.

Every company listed for sale on the Empire Flippers marketplace has been carefully vetted. While this may result in fewer listings when compared to competing marketplaces, Empire Flippers promise to deliver quality over quantity:

Searching for online businesses to buy on Empire Flippers.

Empire Flippers may be a good fit if you have the funds to invest in a more established business that’s already generating lots of revenue.

Due to its selective approach, Empire Flippers is also best suited to entrepreneurs who are willing to wait for the perfect business to get listed.

If you find a company you’re interested in learning more about, you can access 12 months of store data by paying a 5% refundable deposit.

All of this information has been examined by the Empire Flippers team, which gives it a higher degree of legitimacy. The info includes Google Analytics data, plus a profit and loss statement.

Conclusion

Many people dream of owning their own businesses, but hesitate due to the risks involved. The good news is that buying an existing company is often less risky (and faster) than starting your empire from scratch.

If you want to fast-forward through the startup phase, here are four places where you can buy an online business:

  1. Shopify Exchange: A marketplace that focuses exclusively on buying and selling Shopify websites.
  2. AcquireBase: A platform offering a unique premium membership that’s ideal for serious buyers.
  3. Flippa: A website that boats its own escrow service and legal service packages.
  4. Empire Flippers: A marketplace that offers fewer listings than some of its competitors, but focuses on quality over quantity.

Do you have any questions about how to purchase a successful online business? Let us know in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.

3 Easy Ways to Make Your First Online Sale

The digital age has brought a lot of changes for salespeople. Even brick-and-mortar purchases are shifting to the ecommerce stage.

If you haven’t made your first online sale yet, all of these developments might make it hard to know where to start.

Fortunately, the process doesn’t have to be difficult. By focusing on your audience, you can successfully start selling your products online – even if you don’t have a website.

In this article, we’ll look at why you should consider shifting to an ecommerce model. Then we’ll show you three strategies for getting started with your first online sale. Let’s dive right in!

Why Online Sales Are the Wave of the Future

Let’s be honest: ecommerce is here to stay. In fact, recent studies have predicted that U.S. retail ecommerce revenue will grow an annual 12.3% by 2024.

This is a huge opportunity for both brick-and-mortar retailers and newcomers.

Additionally, there are unique benefits to an ecommerce approach. One of these is that online purchases are generally more resistant to circumstances that are hard on physical stores.

For example, the above statistic predicts accelerated growth despite recent COVID-related downturns.

There’s also typically a lower investment for online sales. You don’t need to maintain a storefront or pay someone to stock your shelves.

That means you can use this saved money and flexibility to further develop your business, such as by making it more environmentally friendly.

Finally, there’s substantial demand for online purchases. Up to 60% of consumers who have shifted to online purchases aren’t planning on returning to physical ones. Therefore, you could risk losing customers if you don’t make the switch with them.

How to Make Your First Online Sale (3 Easy Ways)

Fortunately, you can begin selling online quickly by focusing on one key element: your audience. Here are three ways to cater to your shoppers and make your first online sale.

1. Leverage Your Social Media Presence

Social media platforms are already filled with active users. Furthermore, those who have followed your business profile have shown that they’re interested in your products.

That's why social media networks can be an excellent way to directly pinpoint your current fans.

All you have to do is provide these already interested users with an easy way to purchase your offerings online. If you’re searching for the perfect tool to help you, look no further than Buy Now Plus:

A banner for Buy Now Plus, an easy way to make your first online sale.

Our program makes selling online easy. Best of all, you don’t even need to have a website. You can instead provide a buy now button directly on your social media profiles with a simple link.

That means your users won’t need to leave the platform. We’ll process their purchases through our secure servers. So your customers can be confident in the safety of their personal data.

In addition to potential first customers, social media can also help you develop a plan to keep them coming back.

These platforms make it simple to interact with brands and share feedback. You can consider Oreo’s official Facebook page as an example:

An image of Oreo's Facebook page complete with user feedback.

Your profile is the perfect place to start building audience engagement. You might also gain a clearer idea of what your customers love about your products.

With a little bit of outreach, you might even be able to find influencers who will enthusiastically promote your brand.

2. Build an Email List of Potential Customers

Social media has its benefits, but more traditional email marketing still holds a lot of power. Recent figures show that there are about 4 billion email users around the world.

As you can imagine, using these platforms is a reliable way to reach most of your potential consumers.

In addition popularity, using emails also has several other benefits. For example, emails are easier to personalize.

You can address them to individuals rather than groups. This personal touch may encourage recipients to open the messages.

By the same token, this allows you to create more targeted messages. You might decide to make your first online sale by offering a special discount to those who have been customers in your physical store, for example.

Fortunately, there are several ways to start your first email list. For example, you might collect this information from an already popular social media account.

If you have your own website, you can also promote your email list there.

Additionally, email marketing itself doesn’t have to be complicated. Simply providing your recipients with an easy link to access a specific product can be very effective:

A simple example of effective email marketing from Brooks Running.

We also encourage you to build your email list as your customers make more purchases. Consider giving your shoppers the option to sign up for special deals.

Then, you can take advantage of your growing list with some of the best email campaign strategies for maximum effect.

3. Consider Affiliate Marketing

You don’t need to make your first sale alone. On the contrary, using affiliate marketing can be an effective way to launch your online plans.

Affiliate marketing is where you work with individuals in your niche to advertise your brand. Then, if their advertising results in a sale, you pay them a commission.

This process offers several benefits. For one, influencers are often very connected to niche markets. Therefore, they can help you reach potential customers who you may not have even considered.

Additionally, affiliate marketing can be very cost-effective. The commission structure means you only have to pay for marketing that works. This is an ideal arrangement if you’re just starting out and operating on a tight budget.

If you’re looking for a tool to help you kick-start an affiliate marketing program, you can consider our sister plugin, Easy Affiliate:

Easy Affiliate homepage.

Easy Affiliate makes it simple to start a program, even if you haven’t made your first sale yet.

You can begin with a few affiliates and use them to grow your customer base. Then, as your sales increase, you can scale your program to match.

Other powerful Easy Affiliate features can support you as well, such as built-in email marketing and real-time reports to help you refine your approach. If these elements sound appealing, consider checking out how to start an affiliate program.

Conclusion

We won’t lie to you – making your first online sale can be a real challenge. With so many new elements to consider, it’s normal to feel a bit overwhelmed. Fortunately, a straightforward audience-centric strategy can go a long way.

In this article, we covered three ways to reach out to your shoppers and make your first online sale:

  1. Leverage your existing social media following.
  2. Craft an email list of interested customers.
  3. Consider affiliate marketing to expand your reach.

Do you have any questions about shifting to online sales? Let us know in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.

3 Reasons Why the Future of Ecommerce Is Looking Bright

Ecommerce is enjoying one of its biggest booms ever. Events in 2020 and 2021 drove people to buy products and services online in record numbers.

In Q1 2021 alone, online sales climbed by a staggering 39%, and that's after a banner year for the industry.

While some people are concerned that ecommerce numbers will drop as life returns to normal, we believe that the industry will continue to see record sales across the field.

We're not just basing that on intuition either. There are clear signs that point toward a bright future for ecommerce.

In this article, we'll break down the three top reasons why we believe that it's a fantastic time to invest in ecommerce solutions or adopt them for your business. In fact, let's start by talking about adoption!

1. Ecommerce Adoption Isn't Slowing Down

The pandemic forced many businesses to open online channels so they could continue to sell their products. As life around the world returns to “normal”, many retailers and customers may once again focus on face-to-face sales.

While that's possible, industry analysts are convinced that the ecommerce boom is far from over. Online sales are expected to reach $5.4 trillion in 2021.

Let's compare that to the last few years:

  • 2018: $2.98 trillion
  • 2019: $3.35 trillion
  • 2020: $4.28 trillion

To be fair, ecommerce sales have been on an upward trend at least since 2014. As more users gain access to mobile and desktop computer devices, it's expected for them to start moving some of their shopping online.

The big change that 2020 brought is that many users were forced to adapt to ecommerce as a regular part of their lives. If you used to make a couple of online purchases (or none) per month pre-pandemic, chances are that number is now a lot higher.

In the US, 9% of ecommerce users in 2020 said they'd never bought anything online before the pandemic. Of Japanese customers, 8% said the same, as did a surprising 15% in the UK.

2020 bought a massive wave of new users for online stores. A lot of those customers are finding that they prefer the convenience of online shopping over face-to-face purchases.

That applies even if they can now get out of the house and buy what they need in person.

2. A Younger Demographic is Spending More Money Online

It should come as no surprise that younger generations are more accustomed to online shopping than their older peers. As we mentioned before, 2020 bought a massive influx of new customers to the ecommerce market.

It's also key to point out that two out of three new customers happened to be in the 18-34 age range.

Ecommerce adoption in older demographics still grew significantly, but by a much smaller margin than with younger consumers. At the same time, purchases via mobile devices reached $2.66 trillion in 2020.

That means 56% of all ecommerce transactions in 2020 came from mobile users.

There's a direct correlation between younger customers turning to online purchases and increased spending from mobile users. Of U.S. residents aged 18-29, 96% own a smartphone, but that percentage decreases as the age group rises:

Percentage of US adults that own a smartphone
Image credit: Pew Research Center

Ultimately, increased ecommerce adoption among younger customers means all the growth that we've seen during the past couple of years is unlikely to reverse.

Younger age groups are much more comfortable making transactions online. Additionally, they're likely to be loyal customers for a long time if you succeed in engaging with them.

3. Recessions Lead to New Business Ventures

Historically speaking, recessions and downturns in the job market usually lead to spikes in entrepreneurship.

The pandemic caused millions of people to lose their jobs due to cost-cutting and companies shutting down. For some people, that was the push that they needed to try and launch their own business ventures.

That spike in entrepreneurship is excellent news for the ecommerce market. It's never been easier to launch an online store using ecommerce platforms and software (such as our own Buy Now Plus plugin).

In many cases, all you have to do is sign up for an account, and you can start selling online right away:

Signing up for a Stripe account

Although some new ecommerce businesses might not succeed in the long term, more competition is always good. Some companies that might have never considered going online before made the jump because they needed that lifeline.

If you run such a business, you'll find that the jump to ecommerce can be a lot easier than you'd imagined, depending on what platform or solution you choose.

Even if you're entering a competitive market, it's always possible to carve out a niche for yourself and increase sales by adding new online channels.

Conclusion

Physical shopping isn't going anywhere, but ecommerce's growth can't be stopped. Year after year, the market keeps breaking records.

New businesses launch online stores, new customers make their first online purchases, and online shopping becomes more normalized for different types of products.

To recap why the future of ecommerce is looking bright, we can boil our opinion down to three points:

  1. Ecommerce adoption isn't slowing down.
  2. A younger demographic is spending more money online.
  3. Recessions lead to new business ventures.

What do you think about the state of ecommerce in 2021? Share your thoughts with us in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.

How to Write a Small Business Plan (4 Key Elements to Include)

When you have a brilliant business idea, it’s tempting to dive straight into making your dream a reality. However, without a plan, you may struggle to motivate your new employees, attract the best partners, or secure investor capital.

This is where a business plan comes in.

By taking the time to create this formal document, you can transform your idea into something tangible, and convince everyone to get behind your organization.

In this post, we’ll explore what a business plan is and why every company should have one. We’ll then discuss the four essential elements of any effective small business strategy. Let’s get started!

An Introduction to Small Business Plans (And Why They’re Important)

At a high level, a business plan is a written document that defines what your company is, the activities it performs, its core objectives, and how you’re going to achieve those objectives.

Many startups create this document before beginning operations, to help them explore whether their brilliant idea might actually become a viable business.

This plan can be used internally, but also externally. If you’re seeking investment from third parties, an effective business plan can help you secure funding even if you don't have a proven track record:

An example small business plan.

Although they’re useful tools for startups, many established companies treat their business plans as internal road maps.

By constantly referring to this document, you can evaluate whether you’re on track to achieving your goals, or whether you might need to adjust your operations. For this reason, we recommend that all companies maintain an up-to-date business plan.

This document may also help you realize that your goals have evolved, and that you need to adjust your approach as a result. It’s not uncommon for an established company to create an entirely new business plan to reflect a change of direction.

How to Write a Small Business Plan (4 Key Elements to Include)

Before we get to the list, we thought we'd throw you an idea. While you can save money creating your business plan on your own, it might be worth it in the long run to consult with an expert.

Platforms like Fiverr are a great place to find someone who can help you make sure you're starting out on the right foot.

That said, no two business plans are identical. However, there are some common elements that you’ll typically include in your plan. To help you structure this important document, here are four key elements you may want to incorporate.

1. Executive Summary

This section outlines your company and its mission statement. It’s also a good idea to provide information about your products and services, plus an overview of your leadership, employees, operations, and location.

If you plan to ask for financial backing, you may also want to include a high-level overview of your growth plans and some basic financial information:

An executive summary.

Although all parts of your business plan are important, we recommend prioritizing the executive summary.

This is because busy investors, banks, and potential business partners may decide whether to study your business plan in more detail based on the executive summary alone.

As the saying goes: “You never get a second chance to make a first impression”. Therefore, if your summary doesn’t contain exactly the information a person is looking for, they may dismiss your plan from the first page.

2. Products, Services, and Market Analysis

Next, you can go into detail about your products and services. You’ll typically want to include pricing, benefits to the customer, and your unique selling point (USP).

And if you’re performing any research and development, now is the time to mention it:

A small business plan.

It’s also smart to disclose your plans for intellectual property, such as copyright or patent filings. For some industries, it may also make sense to go into detail regarding the production and manufacturing process.

In addition to defining what your business has to offer, it’s important to demonstrate an understanding of where your products and services will fit within the industry.

This means exploring the competition, their strengths and weaknesses, and how challenging it will be to acquire part of their market share. Throughout this section, it’s also smart to communicate an understanding of the expected demand for your particular products and services.

3. Financial Planning and Budget

Financial planning and future projections are an essential part of any business plan. Even if the document is for internal use only, this section can help you budget and balance your cash flow:

Financial planning and budgeting information.

As part of your financial planning, we recommend including staffing, development, manufacturing, and marketing costs.

If you’re seeking outside investment, you may want to go into more detail, and provide targets and estimates spanning the first few years of your business:

Projected financial data.

While you may feel passionate about your new venture, it’s important to be realistic. An overly optimistic business plan that ignores weaknesses, potential pitfalls, and threats is unlikely to be well-received by potential investors and business partners.

Even worse, if you overestimate your revenue, this can lead to increased overheads and perhaps even a cash flow crisis.

To help keep your plan grounded in reality, only make claims that you can support with hard evidence. You might weave this proof into your business plan or include it as part of an appendix.

As an alternative, you might simply have this data on hand in case a potential investor requests more information. The only rule is that this evidence must exist.

4. An Appendix

An effective business plan will strike a balance between providing enough detail and remaining focused on what the reader needs to know.

Creating a comprehensive, detailed, and extensive plan may feel like you’re setting your business up for success.

However, lengthy documents are notoriously difficult to maintain. By creating an exhaustive business plan now, you may find that this plan is rarely used in practice.

While creating the document, it’s wise to constantly ask yourself whether each piece of information might be better suited to an appendix. In particular, detailed financial forecasts, market research data, product literature, and technical specifications are usually better included in an index.

This ensures that detailed information is on hand for readers who want to delve into the finer points, without distracting from the flow of the document.

Conclusion

We’re not going to pretend that starting a business is easy. However, with some careful planning, you can maximize your chances of turning your brilliant idea into a world-class business.

To set you on the road to success, let’s recap four things to include in your small business plan:

  1. Executive summary
  2. Products, services, and market analysis
  3. Financial planning and budget
  4. An appendix

Do you have any questions about how to write an effective small business plan? Let us know in the comments section below!

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4 Top Tools for Small Businesses Just Starting Out

Finding the right tools is the best way to set your company up for growth and success. However, as a small business, it can feel like your options are limited.

Fortunately, there are plenty of world-class tools that cater to the unique needs (and budgets) of brand-new businesses. By being a savvy shopper, there’s no reason you can’t access the same features and firepower as established enterprises.

In this post, we’ll share advice on how to find the best software for your startup. We’ll then suggest four of our favorite tools for small businesses just starting out. Let’s dive in!

How to Choose the Best Tools for Your Small Business

As a new business, it’s essential that you catch the attention of potential new customers, convert them into qualified leads, and ultimately secure your first sales. To achieve all of this, you’ll need the right tools.

However, as a brand-new business, you may initially be working to a tight budget. To minimize your running costs, you might want to try free software over premium options. Some proprietary tools even offer entry-level or free plans with usage restrictions.

For example, the popular Mailchimp marketing automation platform is free for up to 2,000 contacts:

Mailchimp's range of subscription plans.

Another example is the Hootsuite social media management platform. This marketing tool has a single-user plan that’s perfect for solo entrepreneurs.

For small businesses just starting out, these plans provide access to professional tools without requiring you to pay top dollar for features you don’t currently need.

And the majority of these tools are scalable. As your business grows, you can upgrade to a more expensive plan without the added stress and worry associated with learning a new tool or migrating all of your data.

With almost 31.7 million small businesses in the U.S., it’s no surprise there are plenty of tools specifically catering to startups. To make sure you’re getting exactly the features you need, you may want to opt for tools that target smaller businesses rather than a general user base.

4 Top Tools for Small Businesses Just Starting Out

According to the Bureau of Labor Statistics, 20% of startups don’t make it to their first birthdays. Let’s give your business the best possible chance of bucking the trend!

Here are four tools that can set your brand-new venture up for success.

1. Yoast SEO

Yoast SEO is a top tool for small businesses just starting out.

When you launch a business website, your traffic will be a flat zero. The quickest way to get off the starting block is to appeal to search engines.

With over 53% of all web traffic originating from organic search, a solid search engine optimization (SEO) strategy can take you from zero to hundreds (or even thousands) of eager customers.

Yoast SEO has everything you need to optimize your business website for those all-important search engines. Every time you add a new page or post, you can use Yoast SEO to specify the keyword(s) that you want this content to rank for:

The Yoast SEO tool for small businesses.

Yoast will then provide actionable advice on how to optimize the web page for the specified keyword or phrase. In this way, Yoast SEO can increase your chances of scoring Google’s coveted number-one spot.

Features:

  • Readability and SEO analysis
  • Tools to optimize your Google previews
  • Automated technical SEO improvements
  • Ability to boost your branding with title and meta description templating
  • Full control over your site’s breadcrumbs

Pricing: The plugin is free, with a premium version available.

2. Mailchimp

Top tools for small businesses include the Mailchimp platform.

The number of email users is forecast to reach 4.6 billion by 2025, and those people are spending a lot of time in their inboxes.

According to Adobe, the average American spends over five hours a day checking their inboxes. This makes email marketing a powerful way to promote your startup.

You can use Mailchimp to design beautiful, engaging messages using a straightforward drag-and-drop editor. This is ideal if you don’t have access to a graphic designer or a programmer:

The Mailchimp email editor.

You can also use Mailchimp to create automated email campaigns. This can be a life-saver for busy small business owners, who may not have the time to send a personalized message to every contact.

Features:

Pricing: Various subscriptions are available, including a free plan that’s perfect for small businesses.

3. Google Analytics

The Google Analytics platform.

Google Analytics provides detailed insight into the people who are visiting your website. This can be invaluable for understanding your audience and the kind of content that generates the most engagement.

Armed with this information, you can fine-tune your marketing and advertising strategies, and optimize every part of your site to drive conversions:

The top tools for small businesses include Google Analytics.

Google Analytics can also reveal how people find your site (for example, via organic search or by following a referral link). You can then focus your efforts on the channels that are proving the most lucrative.

Alternatively, you might decide that it makes more sense to focus on the channels that are currently underperforming.

Features:

  • Custom reports
  • Event tracking
  • Site speed report
  • Site search tracking
  • Ecommerce tracking

Pricing: The core Google Analytics platform is free. There’s also a premium Analytics 360 subscription available.

4. Buy Now Plus

Buy Now Plus is one of the top tools for small businesses.


In 2020, worldwide ecommerce sales totaled $4.28 trillion. If you want to tap into this lucrative market, you should aim for a seamless shopping experience.

Buy now buttons can be powerful tools for providing a stress-free purchasing journey and boosting your sales. Today, these simple-but-effective buttons are widely used by some of the biggest companies in the world, including Amazon:

A buy now button on the Amazon website.

If you want to learn from Amazon’s success, you may want to take a look at Buy Now Plus. You can use our free service to quickly and easily create an Amazon-style buy now button:

The Buy Now Plus dashboard.

You can then deploy this button across multiple platforms. This includes all of your social media accounts and your email marketing messages.

Features:

Pricing: You can sign up for free. Note that Buy Now Plus charges a minimal 2% fee for each sale.

Conclusion

Starting a new business is never easy. However, the right tools can help you secure those all-important first customers and sales, and set your business on the path to success.

If you’re not sure where to start, let’s quickly recap our top four tools for small businesses that are just starting out:

  1. Yoast SEO: Make sure your site is appearing in relevant search results with this free WordPress plugin.
  2. Mailchimp: Use a popular mailing platform with a focus on automation that is perfect for the busy small business owner.
  3. Google Analytics: Get insight into your audience and learn how to drive more people to your site with this widely-used analytics service.
  4. Buy Now Plus: Ensure that the purchasing process feels effortless by creating buy now buttons for your website, social media accounts, and email marketing campaigns.

Do you have questions about any of the tools mentioned on this list? Let us know in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.

How to Start Your Own Affiliate Marketing Program (In 3 Steps)

It might seem like influencers are everywhere these days. However, you're not just seeing things – working with these representatives is a popular and effective way to promote a brand.

You might be wondering how to leverage this power by starting your own affiliate marketing program.

Fortunately, the process doesn't have to be difficult. By following a few best practices and focusing on the essential elements, you can build a profitable affiliate program for your brand.

In this article, we'll cover a few reasons you might want to consider starting an affiliate marketing program. Then we'll show you how to create your own in three simple steps. Let's get to it!

Why You Might Want to Start an Affiliate Marketing Program

An affiliate marketing program is a network of influencers. You connect with respected people within your niche, and they promote your products to their followers. In return, you pay them a commission from any resulting sales.

There are many benefits to running an affiliate program. For one thing, it's a simple way to spread the word about your products. You also don't have to pay unless a sale is made, so using influencers is cost-effective.

Influencers also get a lucrative deal. On top of commissions, affiliate links can be a passive and flexible income stream.

That means these marketers can promote your content even if they've shifted to remote work. Additionally, the influencer's audience might appreciate an informed recommendation.

With advantages for all parties, it's no wonder that affiliate marketing is a booming business. Statistics show that this market is expected to reach a value of nearly $8.2 billion by 2022. That means getting started now will be an investment in your brand's future.

How to Start Your Own Affiliate Marketing Program (In 3 Steps)

We'll now use this simple guide as a kickstart for affiliate marketing. If you're interested in promoting your business with affiliate marketing, chances are you already have a website up and running.

If not, you'll need a basic WordPress site ready before you get started with the Easy Affiliate plugin, which we'll be using in this tutorial.

Step 1: Install and Activate Easy Affiliate

Starting an affiliate marketing program can be a bit complex. It can be hard to juggle links, payments, and ads.

That's why we highly recommend you use an affiliate program management product, such as Easy Affiliate, to take care of everything for you:

Easy Affiliate homepage.

Easy Affiliate enables you to host your affiliate program on a WordPress site. It's a simple way to integrate referral marketing infrastructure into your page.

Some other powerful features that you'll unlock with Easy Affiliate include:

  • Detailed progress reports to help you perfect your approach
  • Email marketing to spread the word about your program
  • One-click payouts to make commissions easy for you and your influencers

Additionally, Easy Affiliate doesn't charge any transaction fees. Once you purchase your plan, there are no additional hidden costs. The only per-transaction fee you'll pay is to PayPal, which the plugin uses to process payments.

The program also carries a 14-day money-back guarantee, so it's safe to give it a try if you're on the fence.

First you'll want to decide on your pricing plan. The options are Basic, Plus, and Pro. We suggest starting with Basic if you're new to affiliate marketing. However, Plus and Pro might also be worth considering if you have a few sites.

After you've made your choice, download Easy Affiliate. Be sure to grab your license key as well, because you'll need it to receive crucial plugin updates. Then install and activate the plugin.

You might also want to take some time at this point to consider your strategy. Understanding the essential elements for affiliate beginners can set you up for success.

Step 2: Customize Your Main Settings

Before you get started, there are a few settings you'll want to adjust. We'll take you through the most important ones. However, you might want to thumb through Easy Affiliate's helpful articles for more information.

Let's begin with the basic settings. You can find them in your WordPress dashboard under Easy Affiliate > Settings. Your screen will differ slightly depending on your plan:

The main settings for Easy Affiliate.

If you'd rather use the built-in setup wizard, simply scroll down to the bottom of the page to find that option. You can also add elements such as your basic business info.

If you keep scrolling, you'll find an option to decide which pages will act as your affiliate pages. These pages will generate automatically when you add Easy Affiliate. However, you can also edit them from this area.

Next up, we'll take a look at the Commissions tab:

The Easy Affiliate commissions tab under settings..

Here you'll decide on your affiliate program commission structure.

You can choose to pay out commissions as a percentage of sales or as a fixed rate. Your payout settings are also in this tab. Feel free to take your time here – payments are essential for both you and your influencers.

If you want to add integrations, check out the Ecommerce and Integrations tabs. For example, you can set up one-click PayPal functions under Ecommerce.

Finally, head over over to the Advanced tab:

The Easy Affiliate advanced settings tab.

It has several useful fields, but we'll focus on the essentials for now. We encourage you to set up email notifications to keep affiliates in the loop.

Additionally, you'll need to adjust international settings if you work on a global level.

Step 3: Prepare Resources for Your Affiliates

Finally, let's get to the heart of your program: your affiliates! Supporting your influencers is the best way to help them succeed.

On top of showing them how to do things like accept credit cards without a website, you can also provide other resources.

Remain on the page from the last step. This time, navigate to the Affiliates tab:

The Affiliate tab for Easy Affiliates.

First up is Registration Type. This is where you'll determine whether affiliates can join automatically, will need to apply, or will need direct administrative approval.

For your first program, we recommend requiring an application. This will help you screen for the best candidates directly.

The Form Fields section enables you to decide what information you'll collect from influencers. You can also make it so that users are automatically added as affiliates – which is perfect if you've built your WordPress site solely for your program.

Finally, you can change the affiliate dashboard. We suggest that you take the time to add your brand's colors and a custom welcome message. Doing so is a simple yet essential part of any new website branding checklist.

Next up, we'll change gears. Easy Affiliate enables you to expand your brand with professional-looking links and banners. Go to Easy Affiliate > Creatives > Add New:

The creative creation screen for Easy Affiliates.

Simply fill in the fields to create your new link. If you'd like to add a visual element, choose Banner from the Type drop-down menu. You'll then see an option to upload an image.

Try to make several links and banners. This can help make your marketing varied yet consistent. Once you've made a few creative assets, you can provide them to affiliates so they can advertise your business in places such as their social media accounts.

Conclusion

Affiliate marketing spending is on the rise. That means there's a lot of potential for using influencers to advertise your company. Fortunately, starting your own affiliate marketing program can be simple with the right tools.

In this article, we showed you three steps to begin your affiliate program:

  1. Choose and install a pricing plan from Easy Affiliate.
  2. Customize the main settings, such as the commission structure.
  3. Help your influencers succeed with a clear structure and dynamic assets.

Do you have any questions about starting your own affiliate marketing program? Let us know in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.

How to Start a Membership Business (In 3 Steps)

If you sell products online, you can benefit from a strong, dedicated customer base. One of the best ways to do this is by creating your own membership site. However, you might not fully understand what that undertaking involves.

Fortunately, this format can be quite simple and accessible even to beginners. By understanding the basic format of a membership site and using the right tools, you can get your own business up and running in no time.

In this article, we’ll cover a few reasons you might want to start your own membership business. Then we’ll take you through three steps to help you begin with confidence. Let’s get started!

Why You Might Want to Start a Membership Business

A membership site is any website that has member-exclusive content. They make a profit by charging users to become members. One example of this kind of page is You Are Nourished by Lauren Gayfer:

An image of Lauren Gayfer's membership site, You Are Nourished.

Gayfer offers food-focused advice to help people live healthier lives. Her customers pay a membership fee to access the expert content and advice.

However, you can use a membership site to sell virtually any kind of content including physical items, online courses, podcasts, even a personal blog! As long as you have an audience that's interested in your content, the potential is nearly limitless.

You probably won't be surprised to know, then, that this model comes with a range of benefits. One of the major advantages is that running a membership site can enable you to be own boss and pursue your passions.

In addition to this, starting a membership business can put you in touch with other enthusiasts in your niche. Membership sites can be a great way to build an online community and network with like-minded individuals.

Finally, for business owners there's one obvious benefit: profit. Membership sites can be extremely lucrative. For example, a recent study showed that 85% of people are willing to pay for a dating membership that fits their needs. Moreover, nearly a quarter of respondents are willing to pay over $25.

For all these reasons and more, membership sites are an effective way to do what you love and make a living from it.

How to Start a Membership Business (In 3 Steps)

Starting a membership site can be a great way to make money, and it doesn't have to be complicated. The steps below should give you a general idea of how to get started.

Most importantly, you'll need a basic WordPress website set up before you begin.

Step 1: Choose a Profitable Niche

A niche is your area of focus. This is the field in which you'll offer expertise or products. With so many options available to your customers, it's a good idea to fully embrace your niche right from the beginning.

We highly recommend choosing a focus that you have a real passion for. This will make it easier to produce the large volumes of high-quality content that members may expect. However, there are other considerations as well.

It's important to consider how profitable your niche is. Even if you love something and put out stellar content, you'll need an audience that's willing to pay for it. A smart way to gauge interest is to see how many affiliate programs exist for your niche.

Moreover, it's also important to set yourself apart from competitors in your niche. Try to think of why a customer should choose your membership site over another.

For example, the popular code-learning site Codecademy offers a membership model based on computer languages. However, its landing page also emphasizes how the service will help users with the learning process:

The Codecademy membership site home page.

Codecademy also offers value in terms of user growth. This service offers multiple different coding languages. So, a user doesn't have to find a new membership site once they complete a course.

Also, consider going with a niche that is fairly broad and can be easily scaled up. Doing so may provide opportunities for business growth and increased profits in the future.

Step 2: Establish Your Membership Plans

Once you've chosen your niche, you can start thinking about your membership offerings. Most membership sites offer several pricing plans in different tiers. This system gives your audience the option to pay more for additional content.

It can also be helpful if your niche is skill-based. This is because you'll be able to target different people based on their expertise.

Alternatively, you might create tiers based on how long users will gain access to your content. The piano learning program Pianu demonstrates this approach with its pricing plans:

Pricing tiers for the membership site Pianu.

Multiple membership plans also enable you to cross-sell and upsell. As long as you don't overwhelm your audience, more tiers can mean more profit potential.

Nevertheless, a freemium model can be equally powerful. With a freemium site, you provide some of your content free of charge. Other content is placed behind a paywall.

Free content can give interested customers an idea of what your membership site is like. If you're not ready for multiple pricing plans, consider offering only one that includes a freemium element.

However you decide to organize your plans, the most important part is also the hardest: setting a price. The aim is to strike a balance between good value and healthy profits, which isn't always easy. Try keeping the anchoring effect in mind to find the perfect balance.

Step 3: Install and Set Up MemberPress

While our Buy Now Plus tool can help you accept online payments without a dedicated page, you'll also want to download a tool that can help you to set up your site for members. Fortunately, there's a powerful WordPress plugin that makes this easy – MemberPress:

The MemberPress homepage.

MemberPress is the all-in-one solution for starting your membership site business. You'll have access to all the infrastructure you need, including:

  • Fine-grained control over who has access to what content
  • The ability to sell everything from online courses to digital downloads
  • A long list of integrations to help you leverage your favorite tools

MemberPress is also user-friendly. There's no need to worry if you're not a tech whiz – that won't stop you from starting an excellent membership site business.

First, you'll need to choose your pricing plan. Each option has different features and limitations, so we recommend you read through each one closely.

Afterward, you can download the plugin, then install and activate it on your WordPress website. When the program is ready, there are a few main steps that you may want to take care of first, such as:

  • Establishing a payment method
  • Adding restricted access rules
  • Creating a registration page

For more information on how to perform these tasks, we highly recommend following the MemberPress setup guide. This document can help you start your membership site business in as few as five minutes.

Conclusion

Starting a membership site business can seem like an overwhelming task. Between the technology involved and the planning required, you might feel like it's too much to keep track of. Fortunately, you can simplify the process by taking the right approach.

In this article, we covered three steps to help you get started with a membership website:

  1. Select a niche that is both enjoyable and profitable.
  2. Lay out your membership plan structure.
  3. Choose powerful software such as MemberPress to equip your website.

Do you have any questions about starting a membership site business? Let us know in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.

4 Tips From Successful Small Business Owners

Many people dream of becoming their own boss. However, with 31.7 million small businesses in the U.S., your new venture will likely face some stiff competition.

By making smart decisions early on, you can give your business the best possible chance of finding a place in today’s crowded market.

Regardless of your entrepreneurial idea, there are several universal best practices that can set you up for success.

In this post, we’ll share four tips from successful small business owners. We’ll look at how to drive more customers to your website, reduce those sky-high cart abandonment rates, and even explore how your closest competitors can actually help your business succeed. Let’s get started! 

1. Prioritize Customer Support

Customer service is the direct connection between you and your customers. Get it right, and you’ll have no problem transforming one-time buyers into loyal repeat customers.

When it comes to delivering five star customer service, speed is everything. According to research, 66% of shoppers state that valuing their time is the most important factor in customer service. In fact, when they reach out for help, 82% of consumers expect a response in ten minutes or less. 

If you’re going to meet these expectations, it’s vital that you make customer service a priority. However, as a busy business owner, it may not always be feasible to respond to support requests immediately, especially if you don’t have a large customer service department. 

If the ten-minutes-or-less rule feels impossible, a chatbot may be the answer. With the help of a bot, your customers will have instant access to support at any time of the day or night. 

These bots can be a lifesaver for overstretched small businesses, but they also appear to be popular among consumers. According to research, over 67% of shoppers used a chatbot in 2019. 

There are various WordPress chatbots to choose from, including the Tidio plugin. This popular chatbot is customizable, so you can update its User Interface (UI) to reflect your company’s branding:

Many small business owners choose to use a chatbot plugin.

Alternatively, you can create your own chatbot. This may sound complex, but there are services to help you build your bot, including the Botsify platform and HubSpot’s marketing plugin:

The HubSpot WordPress plugin.

Self-help resources can be another way to provide around-the-clock support. Online documentation, FAQs, knowledge bases, and video tutorials are all popular self-help methods.

2. Learn From Your Customers

No matter how much time and effort you invest into your small business, there’s always room for improvement. To keep moving forward, you'll need to be willing to learn from your customers.

This may involve asking consumers for their feedback. Wherever possible, it’s smart to integrate these feedback requests into your normal workflows. For example, you might use your email automation software to request a product review every time a customer makes a purchase. 

Some customer-focused tools can even request feedback automatically. For instance, it’s not uncommon for chatbots to ask the customer to rate their interaction when they try to exit the chat window. This can generate valuable information, which you can then use to improve your small business. 

However, this information can be biased. Humans are subconsciously influenced by social conventions, and may tailor their feedback to align with the expected response. 

For this reason, you may also want to monitor your audience using a tool such as Google Analytics. This can provide an insight into subconscious customer behavior, and how users respond to your content and campaigns:

Many small business owners use a tool such as Google Analytics.

By deploying these two techniques simultaneously, you can gain a deeper understanding of your target audience. This is essential for improving the overall customer experience and optimizing your business website.

3. Spy on Other Small Business Owners

Chances are your business has several close competitors. While these organizations may feel like the bane of your existence, they can also be a valuable learning tool. 

With over 40% of revenue for most stores originating from organic traffic, it’s important to get your SEO right. You can set yourself up for SEO success by using a tool such as Keyword Explorer to discover the terms your competitors are ranking for.

You can then analyze those high-performing keywords and identify any that are relevant to your business:

The Moz Keyword Explorer tool.

By targeting these keywords, you may be able to improve your search engine rankings.

Backlinks are another valuable way to boost your traffic and secure extra sales. You can identify competitor content that has generated lots of backlinks using a tool such as Link Explorer:

Link Explorer can be a useful tool for small business owners.

This can help you pinpoint topics that generate the most buzz. If you can produce similar content to a higher standard, then you stand a good chance of earning valuable backlinks.

Once you’ve refined your SEO and content marketing strategies, it’s time to turn your attention to social media. With over 2.7 billion monthly active users, Facebook can be an effective way to reach new customers.  

If you’ve created a Facebook page for your small business, you’re off to a good start. However, it’s not enough to simply post content and hope for the best. It’s also important to identify the days and times your customers are online, and the content that generates the most engagement.

You can use Facebook’s Pages to Watch to record when your competitors post, how often they post, and the subsequent engagement. You can then use this data to create a more effective social media strategy, without having to learn through trial and error.

4. Simplify the Purchasing Process

Cart abandonment rates are a serious problem for online businesses. Some industries even report a 96.88% abandonment rate! There’s also evidence to suggest that some customers may fill their baskets with no intention of completing the purchase, making it the digital equivalent of window shopping

This is where buy now buttons come in. These simple-but-effective buttons completely eliminate the add to basket stage, and whisk the customer directly to the checkout. This gives the consumer less time to reconsider their purchase, which is great news for your conversion rates:

Am example of a Buy Now button.

You can create a range of high-converting buy now buttons using our free Buy Now Plus service.

To create your first buy now button, just register for a free Buy Now Plus account. If you already a existing Stripe account, you'll be prompted to connect the two accounts in the sign up process. If you don't have Stripe yet, you can automatically create a new one during the signup process.

Then, just create your buy now first button to publish on your online store, website, or even your social media platform. One of the best things about Buy Now Plus is that you don't even have to run a website to use it!

Conclusion 

Launching a new business isn’t easy, and the line between success and failure can be fine. However, with the right tools, techniques, and know-how, you can achieve start-up success.

Let’s quickly recap four tips from successful small business owners: 

  1. Prioritize customer support by using chatbots.
  2. Learn from your customers by requesting feedback.
  3. Spy on other small business owners by doing keyword research.
  4. Simplify the purchasing process by using Buy Now Plus.

Do you have any questions about how to grow your small business? Let us know in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.

How to Keep It Simple and Keep Your Customers (3 Tips)

In today’s always on, always connected world, you have more opportunities than ever to communicate with your customers. However, you also have more chances to overwhelm and even alienate your target audience.

With the typical internet user suffering from information overload, you may be able to stand out from the crowd by doing less. By stripping your marketing down to its essentials, you can help even the most overwhelmed shopper make a smart purchasing decision and inspire customer loyalty. 

In this post, we’ll discuss why keeping it simple may be the key to retaining your customers. We’ll then share three tips on how to do less while achieving more. Let’s get started! 

Why Keeping It Simple May Be the Key to Retaining Your Customers

When trying to appeal to today’s tech-savvy consumer, more isn’t always better. There’s a misconception that the more content you provide, the greater your chances will be of holding the customer’s attention.

It’s easy to fall into the trap of believing that a constant stream of marketing campaigns is the only way to grow your audience. However, this may not always work.

For many shoppers, the sheer amount of online content can be completely overwhelming. If you bombard people with even more information, you may be putting them off rather than drawing them in.

With this in mind, it makes sense to focus on decision simplicity. This is where you provide your customers with just enough data to make an informed purchasing decision – and no more.

For people who are already feeling overwhelmed, this can make your business far more appealing than a competitor who is pumping out content 24/7. 

How to Keep It Simple and Keep Your Customers (3 Tips)

While it’s tempting to try and wow the customer, information overload is a very real phenomenon. By taking a less-is-more approach, you can cut through all of the noise and help your audience make stress-free purchasing decisions.

Let's take a look at how to keep it simple and keep your customers, in three easy steps. 

1. Personalize the Customer Experience

When you’re trying to appeal to your entire customer base, it’s easy to overwhelm the individual with irrelevant information. Instead of taking a one-size-fits-all approach, you may want to focus on delivering a personalized experience.

This can help minimize the amount of content the visitor has to deal with, which can simplify the purchasing decision. 

If you want to provide a personalized shopping experience, it might make sense to offer customers a membership service. This is often essential for creating a complete record of the individual’s preferences, habits, and behavior.

All of this data is invaluable for delivering a highly personalized, highly persuasive customer experience.

There are a number of membership plugins available for WordPress, but MemberPress is leading option

Keep your customers, using a membership plugin such as MemberPress.

You can use this plugin to display different content depending on the shopper’s role and capabilities. This can be a quick and easy way to hide information that’s irrelevant to the individual, and prioritize the content that’s more likely to make them convert. 

Meanwhile, if you’re using the popular WooCommerce ecommerce platform, there are a number of add-ons that can help you tailor your website to each user. This includes WooCommerce Customer History:

The WooCommerce History add-on can help you keep your customers.

The Customer History add-on records how each visitor browses your store, and maintains a full purchase history log. You can then use this information to strip out all the unnecessary content and create a more streamlined purchasing journey. 

2. Simplify the Purchasing Journey

By reducing the number of screens the shopper has to navigate, you can reduce the amount of information they come into contact with. This is where a buy now button can be your secret weapon. 

These call to action (CTA) buttons promise to simplify the purchasing journey by transporting the customer directly to the checkout page. You can quickly and easily create this button using our free Buy Now Plus service.

Simply connect Buy Now Plus to your existing Stripe account, or create a new free Stripe account right in the Buy Now Plus setup process. Then you’re ready to create a wide range of high-converting buy now buttons:

The Buy Now Plus dashboard.

After creating a button, you can even deploy it across multiple platforms. This helps you provide a consistent and seamless experience regardless of whether the customer is making a purchase from your website, social media accounts, or marketing emails.

By providing this kind of omnichannel shopping experience, you can make the purchasing process feel effortless and intuitive across multiple platforms. This can help you improve your customer retention rates. 

3. Segment Your Email Campaigns

According to Adobe’s Email Usage Study, Americans spend over five hours a day checking their emails. That’s a huge window of time where you could be promoting your products.

However, most businesses are fully aware of this opportunity, so your typical shopper is probably already drowning in marketing emails. If you add to the pressure, it’s unlikely to end well. The consumer might ignore your messages or unsubscribe from your email list.

Therefore, it’s important to minimize the number of times you contact the customer, while still using email marketing to drive conversions. The best way to achieve this tricky balancing act is by using segmentation. 

A segmented email campaign is where you send targeted messages to your subscribers based on their characteristics or actions, such as their purchase histories. This enables you to replace multiple generic messages with a single email that speaks to the individual shopper’s needs. 

Even if the customer is feeling swamped, highly-targeted messages can still spark a positive reaction. In fact, segmented email campaigns experience 74.53% higher click rates compared to non-segmented campaigns, and companies report a 760% increase in revenue from segmented emails.

All of the major email automation programs support segmentation. Many WordPress plugins also have built-in support for targeted emails, including the free MailPoet plugin:

The MailPoet plugin can help you send targeted emails.

MailPoet comes with an easy-to-use newsletter builder and a selection of responsive templates. It also enables you to send automatic WooCommerce emails.

For instance, you can welcome your new customers, send emails to shoppers who purchased a particular product, and reach out to those who abandoned their carts.

Conclusion 

When it comes to selling your products, the customer needs just enough information to make an informed purchasing decision – and not a single word more.

While it’s tempting to try to dazzle your audience, your typical internet user is already suffering from information overload and won’t thank you for adding to it.

Let’s quickly recap how you can avoid overwhelming your customers: 

  1. Personalize the shopping experience by creating a membership site with MemberPress.
  2. Simplify the purchasing journey by using buy now buttons with Buy Now Plus.
  3. Segment your email campaigns by using a WordPress plugin like MailPoet.

Do you have any questions about how to keep it simple and keep your customers? Let us know in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.

How Stripe Protects You From Fraud (5 Ways)

Enabling debit and credit card payments is one of the most effective ways to sell products online. However, it can also put your business at risk for fraudulent purchases.

Fortunately, you can use a reliable ecommerce platform like Stripe to ensure that you and your customers are safe. Stripe has many checks and balances in place that can help prevent fraud and alert you to suspicious activity.

In this guide, we'll take a closer look at Stripe and how it works with Buy Now Plus. We'll then look at five ways Stripe protects you against fraudulent payments. Let's get started!

An Introduction to Stripe

Stripe is one of the most popular ecommerce payment platforms on the market. It offers a complete suite that enables you to receive payments, send invoices, track your business analytics, and access financing:

Stripe homepage

Stripe is also very flexible, and you can use it with most application programming interfaces (APIs). It has pre-built integrations with leading ecommerce systems, so you can easily adapt it to your business' needs.

Buy Now Plus actually runs on Stripe. That means when you use it, you get access to all of the fraud protection and secure payments Stripe offers. Additionally, Buy Now Plus has a 2% flat fee for transactions and is incredibly user-friendly.

To get rolling, all you need to do is click “Start Selling” on the homepage.

Buy Now Plus homepage

When you enter the signup process, you'll get the option to login to your existing Stripe account, or you can create a new free Stripe account, all from within the BNP signup interface.

Getting back to the point at hand… online payment fraud is unfortunately common. In 2020, ecommerce businesses worldwide lost approximately $17.5 billion due to fraud. In addition, experts predict this amount will increase to more than $20 billion in 2021. Therefore, it's in the best interests of your business to choose a platform with fraud protection, like Stripe.

How Stripe Protects You From Fraud (5 Ways)

As we've seen, Stripe helps protect your business against fraudulent payments. Next, let's look at the strategies that it uses to do this.

1. Stripe Chargeback Protection

Stripe Chargeback Protection can be an essential tool for ecommerce sites. This service can protect your business if a customer issues a payment dispute:

Stripe Chargeback Protection page

For example, a customer may claim that you have falsely charged them or overcharged them. Whether the claim is fraudulent or not, Stripe can cover the disputed amount and any associated fees.

As a bonus, Stripe doesn't require you to submit evidence against chargeback requests. This means that you won't need to waste time or money on resolving these issues.

Stripe can thus protect your business against fraudulent claims. In turn, it can prevent you from losing money on legitimate transactions. You can add Stripe Chargeback Protection by enabling it in your Stripe Checkout.

2. Device Characteristic Signals

Stripe has an in-built fraud detection service called Radar. It uses machine learning to analyze billions of data points on payments made across the globe. By doing so, it can identify potentially fraudulent transactions:

Stripe Radar feature

Device characteristic signals are some of the key data that Radar analyzes. This information refers to signals that come from customers' internet browsers, screens, and mobile devices.

This device characteristic data can tell Stripe what typical browsing behavior is for users. If a transaction and its associated signals fall outside of this behavior, it could signal fraudulent activity.

Radar collects this data continually in order to improve its understanding of consumer behavior. If it notices a high-risk fraudulent purchase, it blocks it automatically. With elevated risk payments, the payment goes into a review process for further investigation.

3. Activity Indicator Signals

Stripe's Radar also analyzes activity indicator signals. This data looks at how long users spend on pages, and how long they take to complete transactions or fill out the information in forms.

For example, a bot can navigate pages a lot faster than the average person, and often inserts card details with the copy-paste function. If Stripe picks up that a potential purchase is being processed too quickly, it can identify that it is a bot and not a real person.

Like with device characteristic signals, Stripe's Radar continually collects and analyzes activity indicator data. In this way, it can identify new patterns and protect your business from fraud.

4. Card Verification Code Checks

Cards have various details that a customer must provide in order to complete a purchase. One of these is the Card Verification Code (CVC), which you can find on the back of a debit or credit card. Customers need to enter this number when they complete a transaction, as well as the card account number and expiry date.

Radar protects against fraudulent purchases by automatically denying any transactions that have the incorrect CVC. Therefore, it can stop payments made from leaked card information.

5. Address Verification Checks

Stripe's Radar also verifies the address attached to a card account. It checks the data held by the card issuer and determines if the postcode and street address are consistent with the account details.

Radar automatically denies payments that don't have the correct postcode. It can thus prevent fraudulent payments with stolen cards.

It may also block legitimate purchases where the customer has entered the address incorrectly. You can opt-in or out of this verification check by enabling or disabling it on your Stripe dashboard.

Conclusion

Stripe is one of the most secure ecommerce platforms available. It has various checks and balances to prevent fraud and notify you of suspicious purchases. Moreover, Buy Now Plus is totally powered by Stripe.

Let's quickly recap the five ways that Stripe can protect your business:

  1. It prevents fraudulent chargebacks with Stripe Chargeback Protection.
  2. It identifies unusual browsing behavior.
  3. It analyzes activity indicators and identifies bots.
  4. It runs CVC checks.
  5. It performs address verification checks.

Do you have any questions about using Stripe with Buy Now Plus? Let us know in the comments section below!

If you liked this post, be sure to follow us on Twitter, Facebook, and LinkedIn.