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.
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.
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.
Alipay
