“What did you change?” That was the question PYMNTS.com posed to several payments executives in their Q3 2020 ebook. For sticky.io, the pandemic meant accelerating functionality for our ecommerce merchants. We found new ways to help our clients flexibly adapt and grow their ecommerce businesses — even during unprecedented times. sticky.io CEO Brian Bogosian shared how these changes better support ecommerce merchants and their customers. Read his excerpt from the PYMNTS.com ebook.
“We’ve embraced a number of initiatives that ensure merchant customers see revenue increases and optimize the opportunities that exist in this challenging environment.
The pandemic has given rise to behavioral changes that are here to stay. People seeking convenience and safety will do things online that they would have done in person before (like run to the drugstore to pick up essentials), which will lead to more people choosing subscriptions to bring items to their doorsteps in an automatic fashion.
When it comes to subscriptions, and the merchants offering them, there is no “one-size-fits-all” approach. We have created a platform that offers flexibility in order management and billing. Those capabilities were in place before the pandemic, but we enhanced certain features to provide for maximum flexibility in an uncertain environment. We updated Transaction Select, our managed service that helps merchants set risk acceptance parameters with algorithms (which also helps battle against friendly fraud). We have billions of transactions in our database, and we can see from a long history of purchases whether specific consumers have a predilection toward chargebacks on their subscriptions, cancellations and refund requests.
We have also set up a hosted member portal to help our clients manage subscriptions, while deciding which functions they want their customers to access — such as slowing down delivery dates and frequencies. That allows merchants to be more in sync with their customers’ needs.
We also built a new subscription credit process, so client scan convert monthly subscribers to annual subscriptions — which can save consumers money while giving greater assurance to merchants that they will realize, and extend, that consumer’s lifetime value.”
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