Electronic Retailer - June 2012 - 36

IT’S TIME TO THINK DIFFERENTLY ABOUT PAYMENT PROCESSING

realize the true lifetime value of your customers. Solutions are available to automate Account Updater requests – meaning payment processors can process and store requests on your behalf. Identifying the right cards to update allows the process to happen faster and more efficiently preventing billing cycle interruptions in your revenue stream.

Getting an approved authorization before you contact the cardholder can help you avoid the risk of an order cancel or account closure. Optimize your approach to handling declined authorizations by using payments intelligence data. Looking at specific attributes of transactions such as method of payment, response codes, and transaction amount can offer the

added insight need to more strategically retry cards.

Proactive Customer Service
In the online environment, proactive customer service is essential to running a successful business. And, while customer service is something merchants have been trying to master for years, there are still ways you can better use your data to serve your customers more intelligently. A true cost of doing business online, especially in the direct response space, is chargebacks. Merchants spend substantial amounts of time and money trying to reduce and eliminate them. But, there is a better, more efficient way. Taking the time to analyze your situation and think critically about the chargebacks you receive is an important step in realizing payments intelligence. Ask yourself: • Are you selling in a high-fraud or high-chargeback product category? • How do chargebacks impact the lifetime value of your customers? • What is the true cost of each chargeback? It is important you look at your chargebacks strategically in order to determine what the right approach and right level of chargebacks are for your business. By monitoring online reports and segmenting by individual marketing programs you can predict how changes in your business model will impact chargebacks. A piece of intelligence lies in every online interaction you have with your customers. By focusing on one area of your data set, you can more intelligently interact with your customers, increase revenue and extend your customer lifetime value. We hope we’ve left you singing your own data song – to the tune of payments intelligence. Sayid Shabeer is the director of customer success at Litle & Co.  His team focuses on value delivery to clients across their Litle experience – from sales to on-boarding, continuing through to merchant services. Learn more at www.litle.com.

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Electronic Retailer - June 2012

Table of Contents for the Digital Edition of Electronic Retailer - June 2012

Calendar of Events
Your Association,Your Bottom Line
Industry Reports
FTC Forum
eMarketer Research
IMS Retail Rankings
Jordan Whitney's Top Categories
Ask the Expert
From the Executive's Desk
Thinking Outside the Box
DRTV's New Best Practices
It's Time to Think Differently About Payment Processing
Guest Viewpoint
Guest Viewpoint
DRTV
U.S. Hispanic
Member Spotlight
Advertiser Spotlight
Advertiser Index
Bulletin Board
Classifieds
Rick Petry
Electronic Retailer - June 2012 - cover1
Electronic Retailer - June 2012 - cover2
Electronic Retailer - June 2012 - 3
Electronic Retailer - June 2012 - 4
Electronic Retailer - June 2012 - 5
Electronic Retailer - June 2012 - 6
Electronic Retailer - June 2012 - Calendar of Events
Electronic Retailer - June 2012 - Your Association,Your Bottom Line
Electronic Retailer - June 2012 - 9
Electronic Retailer - June 2012 - Industry Reports
Electronic Retailer - June 2012 - 11
Electronic Retailer - June 2012 - 12
Electronic Retailer - June 2012 - FTC Forum
Electronic Retailer - June 2012 - eMarketer Research
Electronic Retailer - June 2012 - 15
Electronic Retailer - June 2012 - IMS Retail Rankings
Electronic Retailer - June 2012 - 17
Electronic Retailer - June 2012 - Jordan Whitney's Top Categories
Electronic Retailer - June 2012 - 19
Electronic Retailer - June 2012 - Ask the Expert
Electronic Retailer - June 2012 - 21
Electronic Retailer - June 2012 - 22
Electronic Retailer - June 2012 - From the Executive's Desk
Electronic Retailer - June 2012 - Thinking Outside the Box
Electronic Retailer - June 2012 - 25
Electronic Retailer - June 2012 - 26
Electronic Retailer - June 2012 - 27
Electronic Retailer - June 2012 - 28
Electronic Retailer - June 2012 - 29
Electronic Retailer - June 2012 - DRTV's New Best Practices
Electronic Retailer - June 2012 - 31
Electronic Retailer - June 2012 - 32
Electronic Retailer - June 2012 - 33
Electronic Retailer - June 2012 - It's Time to Think Differently About Payment Processing
Electronic Retailer - June 2012 - 35
Electronic Retailer - June 2012 - 36
Electronic Retailer - June 2012 - 37
Electronic Retailer - June 2012 - 38
Electronic Retailer - June 2012 - Guest Viewpoint
Electronic Retailer - June 2012 - 40
Electronic Retailer - June 2012 - Guest Viewpoint
Electronic Retailer - June 2012 - 42
Electronic Retailer - June 2012 - 43
Electronic Retailer - June 2012 - 44
Electronic Retailer - June 2012 - DRTV
Electronic Retailer - June 2012 - U.S. Hispanic
Electronic Retailer - June 2012 - 47
Electronic Retailer - June 2012 - Member Spotlight
Electronic Retailer - June 2012 - 49
Electronic Retailer - June 2012 - Advertiser Spotlight
Electronic Retailer - June 2012 - Bulletin Board
Electronic Retailer - June 2012 - Classifieds
Electronic Retailer - June 2012 - 53
Electronic Retailer - June 2012 - Rick Petry
Electronic Retailer - June 2012 - cover3
Electronic Retailer - June 2012 - cover4
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