6 powerful reasons to use paypal for business
At the start of 2015, PayPal had more than 165 million registered accounts.
With a range of options, the digital marketplace makes it easy for freelance artists or enterprise executives to operate a business.
However, those registered hardly utilize the platform to full capacity. Sometimes, it takes a few statistics to convince. The following numbers are persuasive.
1. You Have Access to Your Customers to Gain Referrals
65% of new business comes from referrals, and 92% of respondents trust referrals from people they know. PayPal customers send and receive funds, and store personal information.
Access the ‘customers’ screen for instant access to addresses and history of previous transactions. Offer discounts to top customers in exchange for referrals. Use the address data to send a personalized thank you card. Companies pay big bucks for customer service software, but PayPal maintains integral address and transaction data to identify and reach out to existing customers.
2. You Can Set Up Recurring Payments & Invoices
In the US, 21% of mobile usage involved online wallets, such as PayPal or Google Wallet, and the mobile wallet transaction value of North America equals $37 billion.
Freelancers and small business owners celebrate methods of automation. The recurring payments dashboard allows owners to do away with meticulous invoicing. Handle subscriptions; create payment plans; and, automatically bill customers. Make note of outstanding payments, suspended accounts, and active, and new campaigns. It’s unprofessional to operate a business without proper billing and receiving cycles and processes.
If you have business-to-business relations, view your status regarding their business page. This automated feature is a convenient way to do away with billing software.
Setting up invoices through PayPal will look like this:
Under your PayPal settings click “create button” and this will allow you to create a subscription, automatic billing, or an installment plan. For a more detailed guide on creating subscriptions check out this resource.
3. PayPal Checkout Provides a Safe & Efficient Experience
The number of digital shoppers in the US eclipses 190 million, and business-to-consumer e-commerce transactions account for $1.2 billion worldwide. Businesses must offer services and goods with speed and efficiency.
PayPal’s Express Checkout option gives web visitors a safe, fast, and secure way to buy, signup, and get in the sales cycle. Using the checkout option accelerates your site’s ability to make an income and comes along with PayPal’s trusted and recognizable name.
4. “PayPal Here” Allows You to Accept Payments From Your Phone
67% of business-to-business marketers think event marketing is the most effective strategy of creating and maintaining clientele and brand legacy. Small to large businesses often send representatives to trade shows, expos, and related business events armed with marketing material and giveaways, most don’t have means to sell on the spot.
Rather than hot to cold and dated business leads, live attendants leverage the PayPal Here credit card reader. Rather than information alone, associates open new campaigns in real time.
The mobile device is a game changer for freelancers and artists who sell products at markets, street corners, and on the road. Why bother swiping business cards back and forth when you can establish a pending account instantly?
5. You Get Paid Upfront While the Buyer Pays Later
Around 30% of Google users click the first organic result, and 72% of those already using pay-per-click advertising plan to increase budget in the coming year. While online options influence sales and research, consumers do not hesitate to seek out what they want.
However, buyers don’t have the immediate means – reason US consumer debt reached over $3 trillion in 2013. About 27% is ‘revolving debt’ or payments consumers make to leverage additional credit.
By offering consumers PayPal’s credit card option, they’ll have more time to pay for services and products they want now, and your business gets paid up front.
6. PayPal is Everywhere and Everyone’s Using It
Worldwide smartphone use will grow 25% in 2015, and nine countries estimated to eclipse more than 50% smartphone ownership. The marketplace is worldwide for any industrious entrepreneur and business leader. Local-based businesses don’t need to rely on geography to flourish.
PayPal addresses 203 markets and 26 currencies, opening more options for small businesses. Eliminate language and currency barriers using a central pay platform.
PayPal levels the business world for local entrepreneurs and smaller businesses. With billing, conversion, and consumer identification options in one place, aspiring execs have no business ignoring PayPal.
Eastbay.com puts the PayPal logo on their homepage to instantly gain more credibility with the perspective customer.