Have you ever considered how much money you’re leaving on the counter with your online business? If all you sell is a single product, and all your effort is aimed at this single conversion point, you may be losing over 300% of what you could be making with the same number of clients.

Recently, on a Facebook group I’m a contributor at, one member posted a question, which hits the nail on the head, so I decided to write up a lengthy answer hoping that it would help more people make more money without increasing the number of clients.

Am I leaving money on the counter by not using a better payment processor?

100 dollar bill to illustrate that payment processors can cost you a lot in lost revenue

Be thy weary of Sir Benjamin. 🙂

One-click upsell quandry: my current system can’t do it. I’m using Simplero, which I love, but it can’t do the one-click upsells. How important is the “one click” part? Am I going to make a big sacrifice if I don’t switch system earlier rather than later? –Thanks!

Using the wrong payment processor may mean a loss of thousands of dollars each month.

The simple answer is YES, you’d be leaving a ton of money on the counter. There are two principles at play that you’d miss out if you don’t leverage one click upsales:
  1. Selling to an existing client: It’s 7 times more difficult to a new lead than to an existing client. So once a person pays you (even a few cents), they become a client, and since they trusted you with their cash, it’s a lot easier to get them to buy again and again. Takes very little energy to get them to click the Buy button.
  2. Hot buyers: Upgrading a deal before the buyer even put away their credit card is very, very easy. For them, the deal hasn’t been closed yet, and when you offer discounts, they think it’s the best deal ever and they’d buy even if they aren’t sure if they need that extra. Supermarkets and restaurants are masters at this: Would you like some wine with that dish, we have a great white wine on promotional prices this week; or Would you like some fries with your burger, and a coke, you can get both for only $5 extra. Sure! Gimme. Not that you know that type of wine, or that you’d need the extra fries and coke. But what the heck, I’ll get them cause it sounds like a good deal

What do the numbers say: How the right payment processor can boost your income by a factor of 2, 3, 5 or more?

With a single sale, you’d make… say $50. With a one click upsale you can extend the funnel and offer another product at another $25-50, and the next step can get into a few hundred bucks for a product that is exclusive and at a huge discount. So a single 50 bucks sale quickly becomes a three digit sale.
We had a very interesting discussion about payment platforms with a group of online marketers and web developers.
Infusionsoft is the first one that people will mention. But it’s WAY too expensive… I’d even list it as unethically expensive. They do offer easy upsells and affiliate marketing but the entrance fee is so high that very few people can (and should) afford it.
Then there’s OntraPort, a less expensive but not-so integrated solution. And there’s no affiliate platform as far as I know. So you’d be losing the opportunity to offer affiliate marketers an easy way to market your products and get paid for each client they bring you.
zaxaa
Luckily, there’s a new kid on the block. They’re called Zaxaa. Basically, you get everything you need:
  • one-click upsales,
  • affiliate marketing,
  • integration with many other payment processors,
  • a great WP membership plugin
  • easy to follow video tutorials for just about anything…and then some.

I don’t do affiliate marketing much. Usually, it’s because few products/services that have affiliate programs are worth marketing because they offer substandard quality/features/services. But every once in a while, I get across a service provider that is simply awesome, and does have an affiliate program. For such providers, I do create an affiliate link and share it here and there.

Zaxaa is one of those services that deserves to be mentioned here on WebMaxFormance. So I’m not mentioning it because I’m an affiliate. Rather, I’m an affiliate because they’re worth mentioning and praising.