At the start of September 2020, we posted that we had processed over $1,000,000 since launching over a year ago.
Less than 2 months later, in late October, we have now processed over $2,000,000.
If you had told us in September that we would’ve seen this 50% month on month growth rate, we would’ve all laughed you out of the room, but hey, it’s 2020 and anything can happen.
So, how did this happen?
Well, in today's blog, we're going to share some of our insights into how to grow an online business:
1. Getting new sign-ups
This one probably sounds like a no-brainer, but there is some value here.
We’ve seen a massive amount of new businesses sign up to Payhere from all over the world. But the question is: How?
Firstly, many people come looking for us to fill that ‘easy online payments’ gap in their business.
They have a problem that they need to solve and so they seek out a solution.
That problem is that they need to take recurring payments online, but don’t have the technical ability to do so.
They google it, and stumble upon ourselves! Pretty simple.
Another way is through seeing other people using the platform. When they buy something through one of our users, they’ll see our popping brand, (if we may say so ourselves).
This is step one of the sales funnel for any business- Awareness.
One more thing to mention on new sign-ups is the growth of our social media channels. This can all be in vain for some companies, but it’s all about who you’re following and what your message is.
We have been pushing ourselves on social media to create engaging content, that also informs people of the value we add.
Sometimes, you can spend a lot of time perfecting a piece of content and it flops. Other times, you fire something together and it gets pretty good traction. Depending on the platform, it’s generally about creating enough content, and some things will stick.
That’s not everything we’ve been doing to bring in new customers, but it definitely gives you some insight.
2. Our existing customers are growing
We love new signups, but one thing we love even more is to see our existing users grow.
And that’s what Payhere sets out to do- enable growth.
Businesses build up their social media platforms, add their Payhere storefront link, and suddenly they’re selling their service all over the world, with their only cost being a transaction fee- nothing to lose.
That’s what we’ve seen so many of our users do, and it’s amazing.
Because when our users grow, we grow.
3. Adding value to customers
When a new customer signs up, we reach out to them to ask them some questions and offer some advice, for example:
- How did you hear about us?
- Have you connected your payment links to social media/website, or how are you using your link?
- How do you find using Payhere?
We find this is a great way to get to know our customers better, but also, allows them to get to know us better.
These are just a few of the things that we’ve been proactively and intentionally focussing on, and it’s hard to pinpoint exactly what’s working best. However, I hope this blog gives you an insight into our current strategy.
If you, or anyone you know, would like to take payments online for their service in an easy and frictionless way, then sign up today.