Different types of alternative payment systems have the ability to encourage online purchasing among different customers, according to Odimo Inc. vice president of marketing Michael Dell’Arciprete. The challenge for retailers, he says, is to incorporate the knowledge into the payment options they offer. Dell’Arciprete will share in a panel discussion at next week’s eTail 2005 Conference Odimo’s experience with 14 Commerce’s Bill Me Later core alternative payment product and its 90 days same as cash product.
Three consumer web sites operated by Odimo—Diamond.com, Ashford.com and WorldofWatches.com—have periodically used the Bill Me Later products since last summer, says Dell’Arciprete. “We’ve used the core Bill Me Later product on all three, with different results—they’re difference audiences,” he says. Dell'Arciprete adds that 90 days same as cash promotions have been particularly successful at bringing in a higher average order value.
Using Bill Me Later also has given Odimo exposure to a broader group of customers, he adds, as once customers are set up to use the Bill Me Later option on one site, they can use the option anywhere in the Bill Me Later merchant network. "If you sign up to use it on Hotels.com, for instance, you can go to BillMeLater.com and see what other merchants accept this form of payment. We’ve definitely gotten some customers that way,” he says.
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