I work with hundreds eCommerce stores mostly Shopify & have no doubts this will increase conversion rates. Also helps that's it doesn't take a 30 min demo to understand, so simple from the consumer perspective.
1. for some reason, I didn't see you providing a link to swaypay website. google search wasn't easy either to locate the website, had to use a combination of 'swaypay + ecommerce' to find the site > swatpayit
2. initial acquisition vs followup acquisition; uses existing active customers to generate new top of the funnel. The existing customers themselves must be acquired to fb, google or amazon, right? or by other free means like natural seo?
3. it's only as friction-less as any 3rd party checkout offering. not seeing anything new here. in fact it adds additional friction of posting to Instagram and in return the user gets a certain discount.
4. not sure how it works in terms of stacking discounts. if the user has already applied say 60% merchant coupon in cart and then if swaypay is offering 40% discount > is the user getting the product for free now because of stacking?
5. stacking discounts will become important for merchants whose majority orders has a coupon applied otherwise swaypay's TAM will be limited to only those who don't do coupons/discounts
6. 5% for using their checkout is quite a lot, which probably also covers per transx payment fees (or not?). this 5% must be considered in cac calculations
I work with hundreds eCommerce stores mostly Shopify & have no doubts this will increase conversion rates. Also helps that's it doesn't take a 30 min demo to understand, so simple from the consumer perspective.
Love this concept! I can't wait to try it on other platforms when it's available with our clients' stores!
You're right, such a brilliant concept I'm surprised no one has thought of it sooner...
1. for some reason, I didn't see you providing a link to swaypay website. google search wasn't easy either to locate the website, had to use a combination of 'swaypay + ecommerce' to find the site > swatpayit
2. initial acquisition vs followup acquisition; uses existing active customers to generate new top of the funnel. The existing customers themselves must be acquired to fb, google or amazon, right? or by other free means like natural seo?
3. it's only as friction-less as any 3rd party checkout offering. not seeing anything new here. in fact it adds additional friction of posting to Instagram and in return the user gets a certain discount.
4. not sure how it works in terms of stacking discounts. if the user has already applied say 60% merchant coupon in cart and then if swaypay is offering 40% discount > is the user getting the product for free now because of stacking?
5. stacking discounts will become important for merchants whose majority orders has a coupon applied otherwise swaypay's TAM will be limited to only those who don't do coupons/discounts
6. 5% for using their checkout is quite a lot, which probably also covers per transx payment fees (or not?). this 5% must be considered in cac calculations
Great to see this mindset getting traction! Checkout https://letsvolo.com