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Importance of Customer Reviews and How to Generate Them

Importance of Customer Reviews and How to Generate Them
Mohab Customer Experience 0

Importance of Customer Reviews and How to Generate Them

Word of mouth is the most vital medium for popularizing any business. Positive reviews are not the only kind that may be beneficial to a business, even though they are preferred. And establishing a positive image of your business isn’t the only benefit of online reviews.

Online reviews by the customers can also optimize search engine rankings. Popular review sites such as Yelp and Trip Advisor have been around for a long time and have an extensive database of information about businesses available.

Customer reviews also help by making it easy for buyers to choose what they desire. According to Bright Local’s consumer survey, 86% of the consumers read online reviews for local businesses, with 12% of consumers looking for a local business online every day. Surprisingly, 89% of the global customers read the responses to reviews.

Why Do Customer Reviews Matter?

According to Bright Local’s survey of local consumer reviews, consumers go through an average of seven reviews before trusting a business. These statistics were six in 2016. Also since the spread of the review culture, these businesses have seen the most growth and expansion. Other forms of businesses are also reviewed and referred to by consumers all around the world.

Online reviews not only influence consumers but also affect the visibility of these businesses in search engines. With regard to retail, the most influential factor for Google’s local search ranking is based largely on significance, location, and presence.

Out of these, location and significance are not affected by reviews. However, reviews have a major impact on the online presence of a business. Search engines like Google favor reputable review sites such as Yelp, so it is not uncommon for a small business’s Yelp or even Facebook page to rank higher in search results than its actual website.

Reviews can also be used as customer testimonials for the business website. Highlighting good reviews in social media posts and marketing campaigns may also result in further generation of reviews. Social media influencers can be vitally important while working toward growing your business presence online.

How to Collect Customer Reviews? 

Increasing positive customer reviews means growing consumer base. To get reviews from customers is not an easy task for an ordinary or new business. A great deal of effort has to be put in to generate reviews. Certain practices may be helpful in the generation of reviews. Some of these are:

  • Providing exceptional consumer service

Customers, when provided with good service are satisfied and would readily leave a review when asked for. The services include everything from providing online payment platforms to guiding the consumers in the best possible manner.

  • High-quality product or service

The product or service that a company provides is the main reason behind the customer’s satisfaction.

  • Requesting feedback/advice/suggestions regarding personal interests of the consumers

Attending to the customer and asking for their views on improving the business help to instill a friendly/family-like atmosphere for the customer, making them feel more involved and important.

  • Making it easy to receive feedback

Engaging the customers, even after the product has been sold is essential. This can be achieved by reviewing their purchase history and making recommendations regarding products that they might like.

  • Engaging customers online

Using the information about the customer collected from their purchase and sending emails regarding the product and its feedback, is a good way to make the customer feel engaged.

  • Active and logical responses to reviews

Actively responding to customers in a logical and compassionate way is vital for success in business. There can be positive reviews and negative reviews. Responding to both is equally essential.

Regular interaction with the consumer helps in maintaining a check on the quality of services, whether it’s about the best mode of delivery, online payment gateway, or cancellations & refunds. Regularly tracking reviews by making it a habit to check out various review platforms and social media outlets will help in the growth of the business. In this age of social media, online reviews are just the tool you need to make your business known.

6 years ago
Key Points to Know Before Integrating a Payment Gateway into Your Website
Mohab Ecommerce 0

Key Points to Know Before Integrating a Payment Gateway into Your Website

More people are now shopping online and as an online business owner, you have to make a smart move to provide a seamless checkout process.  Many shoppers abandon their shopping carts just before completing the purchase if they encounter problems with the payment process. It is critical that you provide a seamless and convenient payment process by working with a reputed payment system provider.  You have to learn how to integrate a payment gateway into your e-store as this is a major step in improving user experience at your e-store. With the right payment network in place, your customers will enjoy quick and secure payments, which will in turn lead to higher sales conversion, reduced cart abandonment and increased customer loyalty.

There are multiple payment gateways in the market and choosing one may seem like an overwhelming task. To make the right decision, you should consider the following factors before integrating the payment system into your e-store. Read on.

  1. Processing Speed

If you want to tap into the fast-growing e-commerce industry, you have to provide the best customer experience through a quick and painless checkout process. The gateway you choose for processing your payments should be fast in order to provide a seamless user experience.

If your customers experience hiccups when making payments, they will most likely abandon their carts and move to your competitors.  To avoid this, evaluate the processing speed of the payment system; query the provider’s downtime and contingency plan.

  1. Security

One of the greatest concerns in online shopping revolves around safety in transactions. Many businesses and customers have suffered losses due to fraud and these go into billions every year.  When choosing a payment gateway, evaluate the security levels offered to protect your customers’ sensitive data. Failure to do this will lead to loss of customer trust, business losses, and hefty fines from the regulatory authorities among other devastation consequences. The provider should guarantee encryption of all transactions during payment transit and storage.

  1. Consider the Terms and Conditions (T&Cs)

Many business owners have suffered irreparable damage due to the purchase of services without reading the terms and conditions (T& Cs). When purchasing a gateway to process your online payments, you have to read every item in the terms and conditions list to avoid surprises along the way.

Pay careful attention to the small print because otherwise, it could lead to business losses in the future. Look for contract issues such as software integration fees, processing volume requirements, transaction fees, monthly fees, early termination fees, minimum fees, fraud software fees, etc. Ask for clarification before signing on the dotted line.

  1. Multiple Payment Options

There’s no compromise when it comes to accepting multiple payments at your e-store. The best payment network must support such needs as more customers now go for alternative payment options other than credit cards.

  1. PCI-DSS (Payment Card Industry-Data Security Standard) compliance

Another crucial factor to consider when shopping for payment gateways is PCI-DSS compliance. These standards guarantee the system is safe and secure. You will not have to worry about data breaches, data loss, and fraud among other online data handling problems. With the PCI-DSS compliance badge on your website, it is easy to win and retain customer loyalty which is the aim of every business owner.

  1. Flexibility

Every business has unique needs and when shopping for payment gateways, you have to identify a system that is compatible with your e-store needs.  Consider whether the system you choose is flexible enough to adapt to the specific needs of your business, adapt to the programming language of your site, and to process all global currencies you need for your business among other things. Look for a flexible payment processing platform which you can adapt to suit your business needs.

These are only a few of the crucial factors to consider before integrating a gateway for payments to your website. It is also important to consider technical support from the provider, ease of technical integration, reporting features, UI and usability, built-in invoicing capabilities, and fraud detection and other security features.

6 years ago
How to ensure fraud and chargeback prevention
Mohab Growth Hacks 0

How to ensure fraud and chargeback prevention

Fraud and chargeback claims can malign your reputation, eventually resulting in loss in your business. In order for merchants to safeguard themselves against fraud and chargeback, it is recommended that they either choose a reliable and secure online payment platform available in the market or hire professionals to handle cases of chargeback and fraud within the company. Before we discuss the strategies for fraud and chargeback prevention, let us look at the definition of chargeback.

What is a chargeback?

Chargeback refers to an appeal made by a cardholder/consumer against fraud committed by a merchant. The appeal is made to the issuing bank. The bank deducts said amount from the merchant until the merchant is able to collect enough evidence to prove his/her case, in which case the money is returned. In some cases, the cardholder may issue a second chargeback known as pre-arbitration. This occurs when a consumer is determined to prove that he/she has been a victim of fraud at the hand of the merchant.

Let us discuss certain principles and restrictions that a merchant should look into in order to prevent fraud and chargeback.

Restriction on the number of payment attempts

Most online transactions happen through an online payment gateway. One way to minimize the risk of chargebacks is to impose a restriction on the number of times a cardholder can attempt to make a payment. Additionally, the number of purchases made through one card in a day can also be restricted. This simple principle can help you reduce the risk of chargebacks and even prevent the problem from occurring altogether.

Restrictions with regard to email

It is often found that people who come with an intention of committing fraud use multiple email addresses to make purchases using the same card. A merchant must monitor the cards that are linked to multiple email addresses. This may seem like a rather simple way of dealing with it, but it can be a highly preventative measure. It is always better to catch them before the crime occurs.

Monitoring IP addresses

Technology now makes it possible to monitor IP addresses. This can work in favor of the merchant since they can monitor the addresses and find out the e-commerce history and reputation of a particular buyer. There are multiple restrictions that a merchant can apply, such as blacklisting a particular IP address.

Customer service

Credit card companies often offer chargeback notification as a service. This means that any time a cardholder raises a dispute, the merchant is informed simultaneously. By making use of this service and providing good customer support, it is oftentimes easy to address the customer’s issues. Prompt action in such cases can help prevent chargebacks and build better customer relations for the future.

Maintaining and updating records

It is always a good idea to maintain complete and up-to-date records of all transactions made by a cardholder. These records should include dates of purchase, the amounts paid as well as authorization information. These records can be very helpful while handling and fighting chargeback disputes.

Proper training of employees

Employees should be trained on how to handle card and non-card transactions. By enlightening them on the subject, the merchant can save himself/herself from fraud altogether. Verifying signatures, requiring complete card information, etc. are just some ways that fraud can be prevented. As the popular adage goes ‘prevention is better than cure’; it would save the merchant a lot in chargeback fee if the fraud was to be prevented altogether.

Choose your battles

The merchant is charged a certain fee when a chargeback is asked for. An additional fee is imposed if the merchant decides to dispute it. Too many chargebacks also damage the merchant’s relationship with the account provider. Therefore, it is wise for the merchant to choose to dispute only the chargebacks that he/she is likely to win.

The above-mentioned steps may seem like too much for a merchant to take on by themselves. It is advisable, in such a case, to hire a chargeback management firm to deal with the issue of fraud and chargebacks, and adopt these effective strategies to safeguard your business.

6 years ago
Follow these 5 Simple Steps for Product Pricing
Mohab Growth Hacks 0

Follow these 5 Simple Steps for Product Pricing

Do you know that 61 percent of online buyers say that extra high costs is the main reason for cart abandonment? This clearly indicates that if product pricing is not accurate, you may lose more than half of the sales.

The product pricing mechanism lays emphasis on the cost price, profit, taxes, product value, and other variables. This means you have to consider various factors while determining the perfect product price. To assist you, we have compiled a list of five simple steps of pricing a product. Let us guide you through these.

What’s the Pricing Objective?

One of the foremost considerations in product pricing strategy is determining the company’s objective. You have to decide what you wish to achieve and where you see the company in the near future. When you are clear about your objectives, you get clarity about the product pricing.

For example, if you are in the nascent stage and you are entering a market, you can adopt survival pricing strategy wherein you are focused on establishing your presence and covering your expenses. Profit is not your foremost consideration. There are other objectives that influence the product price:

  • Maximum market share
  • Maximum market skimming
  • Product quality leadership

Demand-Price Relationship

While identifying the right market price of a product, it is crucial to study the demand curve. Often, there is an inverse relationship between the price and the demand. If the price is higher, the demand will be low, and vice-versa. However, this is not true in all the cases. We mentioned product quality leadership in the previous section. The demand and price both could be high if you are a leader in the segment in question.

Nevertheless, you can conduct surveys, initiate a project pilot, or perform a statistical analysis to determine the demand in the market.

Cost Estimation

Evidently, costs and target returns influence the price of the product. There are various fixed and variable costs associated with the product. To determine these costs, you can adopt activity-based costing (ABC) system to identify the exact cost based on all the activities, right from procuring raw materials to delivering the products to the retailer.

Also, if you prefer taking payments online, the customer can pay via multiple payment modes like credit or debit card, net banking, digital wallets, and so on. You can install a payment gateway to process these payments. The important thing to note is that the customer might incur payment processing charges, and you don’t have to include these while pricing your products.

Finalize a Pricing Method

The company’s objective influences the product price and the pricing method decides the pricing structure. And up to a certain extent, the pricing method is also dependent on the company’s objectives. Let us look at the pricing methods:

  • Markup pricing – The product price is determined after adding a profit percentage on the cost price.
  • Value-based pricing – The product price is influenced according to its value for the customers.
  • Target return pricing – The pricing is influenced by the target ROI.
  • Going rate pricing – You price the product as per the standard pricing of similar products.

Peek into Competitors’ Pricing Policy

Competition is almost everywhere. In some cases, you may face little or no competition. Here you can set the price as per your discretion after analyzing demand and customers’ willingness to pay. But if you operate in a niche having stiff competition, you must scrutinize your competitors’ objectives and pricing policy. This will allow you to customize your market offering in a way to gain an edge over your competitors.

The Bottom Line

With the right product price, you can grab a larger portion of the market share. But in addition to the price, you must create value for the customers, adopt innovative marketing strategies, and keep an eye on the market trends to remain a step ahead of your competitors.

6 years ago
PayTabs Payment Gateway Option for Egypt
Mohab Growth Hacks 0

PayTabs Payment Gateway Option for Egypt

By the end of 2019, there will be 50.7 million internet users in Egypt. With the rise in internet penetration, users will spend more time browsing social media, learning courses and skills, and shopping online. Evidently, digital payment will also witness a tremendous boost. PayTabs is working relentlessly to be a contributor in the digital payment revolution in Egypt.

If you are planning to integrate a payment gateway into your online store, mobile shopping app, or any other venture, look no further than PayTabs – a payment gateway facilitating smart and convenient online payment solutions. Why PayTabs deserves your attention? Read on to know more.

Smart Payment Options

The era of online transactions began with credit and debit card payments. The times have changed and now, there are numerous payment methods available for making an online transaction. By the end of 2018, alternative payment methods (APMs) will constitute 59 percent of all the online transactions. The popular payment methods include digital wallets, online banking, peer-to-peer transactions, gift vouchers, EMI payments, POS payments, and a few others.

PayTabs understands the importance of APMs. Therefore, it offers various alternative payment options in Egypt – such as Visa, MasterCard, SADAD, AliPay, WeChat Pay, UnionPay, and others. Besides these APMs, PayTabs allows merchants to transact in multiple currencies. You can indulge in the export and import of products and services without worrying about online transactions.

PayTabs facilitates payment collection within 24 hours via different modes of payment. There is a provision for generating invoices and sending these to your customers. Whether you have a website or not, online invoicing is available for taking payments online. If your business revolves around subscription-based services, use PayTabs to collect recurring payments.

The Smart Dashboard assists in analyzing sales performance. You can check out completed transactions, pending transactions, and failed transactions. Identify the most popular payment methods. This will allow you to strategize for a higher conversion rate.

Seamless Integration

Payment gateway integration is a deciding factor when it comes to selecting an online payment processor. Whether you own a website, a mobile app, or a brick-and-mortar store in Egypt; a payment gateway should integrate and perform seamlessly. PayTabs is compatible with e-commerce websites such as Shopify, Magento, PrestaShop, WooCommerce, CS.cart, OpenCart, and others. There are dedicated e-commerce plugins that integrate with these e-commerce platforms. You just have to customize it according to your requirements.

And if you have developed your own website using any other script or platform, you can use PayTabs APIs (Application Programming Interfaces). These APIs integrate with the website without any hassles. Similarly, there are PayTabs SDKs (Software Development Kits) that integrate with mobile apps. There are dedicated iOS and Android SDKs for mobile apps available on both iOS and Android.

PayTabs takes care of customer experience as well. The iFrame on-page checkout feature prevents any redirects and allows customers to pay then and there. This saves time and ensures a seamless user experience. To increase conversion rate and prevent cart abandonment, it is highly recommended to integrate PayTabs Express Checkout window in your e-com website. While customers browse your online store, the checkout window keeps hovering on the screen, providing quick access when it’s time to check out.

Robust Security & Support

Confidentiality, privacy, and security are inevitable aspects of payment gateways. PayTabs is one of the online payment processors that deploy the latest and most effective security protocols to maintain confidentiality, privacy, and security of individuals transacting on an online store.

The majority of the online transactions are secured with 3D Secure Authentication to prevent any financial frauds. In addition to these, Dual Layer Fraud Protection & Management further strengthens security aspects. PayTabs adheres to the international security protocols. It complies with PCI-DSS norms and deploys DigiCert EV SSL certification for the stringent encrypted environment.

PayTabs – The Best Payment Gateway in Egypt

As the residents of Egypt are showing an interest in online transactions, it is the right time to integrate a payment gateway into your website. With its many payment features, ease of integration, seamless compatibility, and compliance with security protocols, PayTabs enables merchants to reap maximum benefits from their online business.

6 years ago