New business models to increase sales

Four out of five Americans use online coupons

The figure of the consumer is a key element when defining the sales strategy of a business. The way in which users interact with brands has changed radically in recent years, especially thanks to social networks, which have become a two-way channel that makes it easier for customers to be in continuous contact with them.

Thanks to the advancement of these technologies, users want to be part of the brands and not be mere recipients of them, so companies must establish new business models that facilitate this interaction. Some of those that have arisen thanks to active listening to brands to meet customer needs are:

subscription model

In recent years certain changes have been observed in the way users enjoy a product or service. While before users bought in an isolated way, nowadays the periodic purchase of products and services is becoming more and more frequent. This has led to a change in customer mentality, since they prefer to enjoy a good or service continuously, rather than simply own it.

The subscription model, therefore, consists of selling products, services or content to a client portfolio on a recurring basis, in exchange for the payment of periodic installments, which are normally monthly. This method has become especially important in the online world, for example, with the appearance of video platforms.

In this way, companies can create connections with users. In addition, thanks to it, these can offer certain advantages to customers, who will perceive an improved experience and greater personalization. Plus, it can help reduce your pain of paying. Businesses, for example, will be able to inform subscribers of the latest company news before the general public, which will improve dealings with current customers and encourage potential customers to subscribe.

Financing model

The traditional financing model has undergone major changes in recent years, giving rise to the appearance of a new format, known as BuyNow, Pay Laterwhich has become one of the trends that is revolutionizing the ecommerce sector.

Users, on numerous occasions, want to have products and services instantly, but they do not have the full amount to pay at the time of purchase. In short, thanks to the BNPL, users can have the products they most want through a much more affordable payment system, which consists of dividing the amount to be paid into up to twelve installments. In this way, at the time of purchase, the customer only has to pay the first payment instead of the total.

In this business model, the business focuses on satisfying the consumer, since by allowing them to split the payment into low amounts, it enables them to enjoy the good without paying in full. In addition, one of its main characteristics is that the purchase approval process is very fast, so the consumer receives it during the purchase process itself.

The interest generated by the deferred payment can be assumed both by the businesses with the aim of reaching more users and, therefore, increase their sales, or by the buyer himself. A positive aspect of this model is that, if the consumer does not pay interest, he does not have the feeling of being indebted, so that, generally, his willingness to acquire the good or service is greater.

social commerce

Social networks have been the revolution of recent years. While they were initially used as social platforms to interact and share content with friends, they have now become a commercial channel where companies can sell their products. This has meant that we no longer only have physical purchase channels, but also that we can purchase products online and on the platforms that a few years ago we only used to interact with others.

Technology and electronic commerce have fostered new ways of acting in consumers, who are looking for simple processes and feel integrated in the brand’s action process. A good way to meet expectations is social commerce, a product sales model through social networks, where brands become part of the platforms most used by users in order to adapt to them and offer them purchase facilities.

Super Apps

Today, consumers increasingly access products and services through applications on their mobile devices. In order to ensure that users do not have to store a large number of “apps” on their devices, the well-known “Super Apps” have emerged.

In many Latin American countries they are already available, and allow the user to order food at home, renew car insurance or send a bank transfer. Therefore, the main objective of these is to offer numerous services in one place.

The super Apps offer benefits for the client since they save them from downloading different applications, which not only increase the storage capacity of their device, but also having to know how to manage and operate each one of them. In addition, it saves entering your personal or payment information several times, so in this sense it improves your comfort and your user experience.

Without a doubt, the ecosystem of “super Apps” is expected to evolve enormously in the coming years.

circular economy

Consumers are more committed than ever to caring for the ecosystem, and they increasingly value that companies are too. The circular economy is a production and consumption model that involves sharing, reusing, renewing and recycling existing materials and products to create added value. In this way, the life cycle of products and materials is extended.

Today, sustainability is a factor that provides a competitive advantage to businesses, so betting on these initiatives, in an environment as competitive as the one we are going through, can be the key so that consumers, who increasingly value sustainable practices, decide to buy their products.

All these business models have a main purpose, which is to improve the user experience. Since sipaya payment platform specializing in digital solutions, helps businesses to offer consumers the best possible experience through payments.


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