Published at 23rd of January 2021 08:55:04 AM
Chapter 1153: 1153
Chapter 1153 – Email marketing
In Feng Yu’s previous life, there is more than 1,000 online payment software in China . But in the end, only a few survived .
There are pros and cons to online payment software, and these are consolidated by someone . Feng Yu doesn’t dare to claim he knows everything, but at least he knows more than those who had never developed such software .
Just the different ways of marketing the payment software are enough to stun those banks!
How is Paypal marketing itself now? They are currently using online advertising, and when a user enters eBay’s website, they will see Paypal advertisements . Of course, Paypal needs to pay eBay for advertising on their site .
Another marketing method is Paypal’s email marketing, which is the main form of advertising .
Paypal’s transactions require the user to enter their email . When the buyer made payments, the seller will receive an email .
When the seller wants to withdraw the money, the seller also needs to register a Paypal account . The account registration is less than a minute, and the seller will not mind .
This method increases Paypal users rapidly .
eBay does have their own payment services, but after they allowed Paypal to provide their services on their site, their own payment service users dropped .
Now, eBay’s payment service had split from eBay and merged with Paypal, and Paypal becomes the only payment mode on eBay .
Paypal’s profits are tied to eBay, but the Boss of Paypal is Feng Yu, and eBay’s Boss is Kirilenko .
When Paypal used email advertising to promote its services, Feng Yu noticed their emails are not good enough . Email advertisements must attract users, and the words used must be concise .
In the past, the sellers were forced to use Paypal to sell their items, and Paypal used it to increase their users . But this method lacks initiative .
Luckily, eBay is an auction site . The buyer and sellers’ identities are constantly changing, and this let Paypal increase its users steadily .
But now, eBay had entered the countries near the US and started to acquire other auction sites for expansion . Thus, Paypal, as eBay’s official payment mode, must also enter those countries .
To expand into other countries, Paypal must increase the use of different currencies .
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You cannot tell the users that because Paypal is a US company, all users must use USD for transactions . Most of Paypal’s overseas users do not have USD in their accounts .
Luckily, Feng Yu had reminded Paypal about this problem before Paypal enters Canada . He had instructed Paypal to prepare for various currencies and let the users have the option to own different types of currencies in their accounts . To convert the currencies, Paypal must work with the banks .
Of course, currency exchange requires transaction fees, and Paypal will get some profits from these transactions .
Paypal cannot set the transaction fees too high, or the users will feel it is not worth it . But the charges cannot be too low, too, as it will lower Paypal’s profits . This balance is hard to grasp, and the charges for different countries will be different in the future . But the differences will not be more than 1%, as it depends mainly on contracts with the local banks in different countries .
This feature of Paypal is more convenient than online banks . At the same time, eBay can allow transactions between countries . But this had made using traditional email marketing difficult .
Email marketing is most suitable for Paypal because all their accounts are tied to an email address . So, Feng Yu set some requirements for Paypal’s marketing department .
Email marketing must meet some requirements . For example, the emails must let the reader feel excited and click on the link . Fund withdrawal, which was used previously, is a way to entice the email recipients to click on the link, but this is not enough for non-eBay’s users . Paypal needs to find a new way to entice readers through their emails .
Another important point for email marketing is to set the mood . It must let the recipient feel the things mentioned in the email is the best opportunity they had received .
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The emails must be eye-catching, and using bright colors and pictures will attract the recipient’s attention . It will be better if the email can include GIF pictures . Although the GIF format had appeared for around ten years now, the pictures are not very clear because of the internet speed . The colors in the GIF are mostly 256 and look fake . But it is still better than still images and can attract more attention .
In the future, when internet development is better, the email can include a video link where the reader can click on the link and watch the video .
Also, Paypal and eBay’s email marketing will be tied together to form a bundle . When users register an eBay account, they will receive a prompt to register for Paypal . This is the same for users who registered for Paypal . The users who registered for Paypal will see eBay’s promotion advertisements, and they can see the discounted items for sales .
Paypal had also signed online payment system agreements with several internet companies . This will let users feel that with Paypal, they can use it on different websites and create the impression that they can use Paypal for transactions on all online sites .
Of course, this is one of Paypal’s target, and it is almost impossible . No online payment software could monopolize the market unless Paypal dropped its charges . But that will let Paypal lose their main source of revenue .
AliPay appeared as one of the payment options on Amazon’s website, and it is the first option on the list . Alipay is also using email marketing to promote its services . It got an email list from Paypal and started sending emails to everyone on the list .
One important point to note is the emails must stimulate the recipient with incentives with a time limit . When the recipient sees the countdown clock, they will think they will miss this offer if they don’t buy it .
When the recipient clicks on the link in the advertisement emails, they will enter Amazon’s site . There will be a pop-up on the right which will ‘shake,’ attracting the user to click on it . It is the link to Alipay’s registration site .
The advertisement is about Alipay’s advantages, credit guarantee, and Feng Yu and Kirilenko’s joint statement . The advertising is ‘You shop, I guarantee, Safe, Simple and fast . ’
There is also a picture of Feng Yu and Kirilenko shaking hands . But Kirilenko is facing the camera, and Feng Yu had only shown his back .
Many people received this email and started noticing Alipay . With the World’s Second Richest Man and East Europe’s Richest Man guarantee this payment platform, this platform must be safe . Alipay’s registered users increased at an astonishing rate .
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