What can TCommerce do to help you sell More

At a place like i-Learning, we value educators who are creators and educators not just because you make us money however, we are aware of the difficulties that arise from running an online business, particularly when you offer digital products. If your business grows it will be necessary to handle managing payments from students across different countries, coordinating recurring subscriptions for your exclusive material, upselling courses related to it as well as keeping track of tax obligations so you aren't hit with fines.

Believe me, we get it.

This is why we returned on the drawing board in order to find a solution to aid our customers in navigating these administrative headaches so they can focus on their passions: teaching and expanding their online business.

Sure enough, we have come up with a feature called TCommerce. This feature lets you be provided with an extensive set of business management and selling tools to simplify the complexity of transactions on the internet.

TCommerce via Payments simplifies the process of accepting payments made by students around the world. If your students are located situated in the United States, Europe, or Asia, TCommerce ensures that the payments process efficiently, eliminating the stress that comes with dealing through multiple payment gateways and different currencies. But it also does way more than simply handle payments and transactions, which we'll explore in a bit.

Here's what Veronica Wasek, the founder of 5 MB Academy  is going to say about TCommerce:

"I don't know how much simpler bookkeeping is since I've joined TCommerce. The installment payment system we used to use were a lengthy process to process with Stripe because it's easy to do it on !"

Do you want to learn more about how TCommerce will transform your company's processes? Read on.

Skip ahead:

•         Advanced Selling Tools
•         Optimized Payment Solutions
•         Integrated Bookkeeping Tools
•         Payments: An Integrated Payment Processor

Advanced Sales Tools

Would you believe me if I said that, in addition to making payment processing across the globe easy, TCommerce can also help you make more money? Cool, right? What separates TCommerce against other payment services on the market is that it gives you access to a suite of effective, fully-integrated selling tools designed to aid creators like you increase your conversions and average order value.

Enhance Sales and Increase the reach of your gifting with gifts

The most efficient method of expanding your reach as an online company owner is to run advertisements that are paid for on the search engines as well as social media platforms. If you target your audience correctly and you've got an adequate budget it is possible to get the results you're looking for with paid ads. If your targeting is poor and your spending goes to waste.

This isn't trying to discourage you from paying for advertisements. They're an incredible way to reach an audience that isn't there yet and we suggest it when you're able to afford it. However, if you do not (or you want to try something new at first), TCommerce can help with this.

How, you ask? With the Gifting feature.

The Gifting option allows the sale of your education products in the form of gifts that your audience can give to their friends, family members, and loved ones. This exposes you to new audiences who will be able to benefit from your knowledge and possibly pay it forward to their networks to come in the future.

In analyzing the data we realized that shoppers that use Gifting as a buying option by default at the checkout can generate as much as 6.2% larger typical transaction sizes. 6.2 percent! And you don't have to do anything except use TCommerce.

The gifting option is activated by default on your website's checkout page when you enable TCommerce by adopting Payments as your main payment processor. Therefore, shoppers can select to buy your item as a gift for someone during checkout. You can even add a custom message to help the recipient use the product effectively.

If someone purchases your product to give as a gift to another person, you'll receive the email of a new purchase that identifies the person of the invitation email. Once the person who received the gift redeems the gift item, you'll be sent another email confirmation of the redemption. Record the redemption and purchase of the gifted product as distinct orders within your order table.

There are some caveats to the use of this service however. For one, customers can only purchase the same gift once at a. Additionally, you are able to use the Gifting functionality for all one-time payments products that don't include the option of a bump in order.

increase the average order value by Order Bumps

The idea that lies behind Order Bumps.

This is what an order bump looks like on the checkout page.

In the typical TCommerce way the checkout procedure is seamless. Customers can make purchases on order bumps simply by checking a box to add the item and then paying for all items in one payment. Simple as that. Once someone purchases or orders a bump in price, they'll immediately gain access to both the main product as well as the order bump. This will also include any welcome emails or other procedures you've created to both of the products.

Again, we analyzed the information and discovered that educators using creators who utilize Order Bumps see a 20 percent larger average size of transactions. It's nearly twice the size of an order you'll will receive when you use Gifting. Do you doubt us? Ask Matthew Chapman, martial arts coach and the founder of Mittmaster.

After teaching in-person classes for several decades, Matthew decided to take his business online by offering online classes that cover different forms of martial art for students with all levels of skill. At first, Matthew's business, Mittmaster, didn't perform well. His major challenge was the fact that it took a lengthy time to locate and turn leads into buyers, as well as a lot of them were one-time buyers.

"The most difficult part of marketing and selling was driving traffic to my website," Matthew recounts. "The problem is the fact that a lot of my customers only bought one course and never looked at the other courses."

This was before Matthew implemented Order Bumps on his website. It was only after the implementation of Order Bumps allowed Matthew to suggest complementary courses for purchase on the check out page. If, for instance, someone is buying Mittmaster Kickboxing Instructional (Volumes 1-5) Mittmaster Kickboxing Instructional (Volumes 1-5) Matthew could suggest they add on to the Mittmaster Kickboxing Instructional (Volumes 6-10).

In the first month of activating Order Bumps on his website The average amount used on every order rose and Matthew's revenues increased by an average of 20-50%.

        "After installing TCommerce, I went to my dashboard and set up the first Order Bump that same day. Within a couple of hours, I had the first Order Bump purchase. This just shows how simple it can be!"    

On the efficacy in Order Bumps, Matthew says, "50% of people who come across my Order Bumps purchase the product. The product has been extremely effective. On some days, 75% of the people opt for the Order Bump!"

Make More Sales through Group Orders

With the Gifting feature, customers can only purchase one item to give to others. But sometimes, people may want to buy multiple "copies" from your item. This is why is the Group Orders feature is for It gives your clients an easy way to purchase several seats of the same item, thereby increasing the revenue of your business and boosting its growth.

When you utilize this option, everything will be done automatically through the built-in checkout. So there is no need to implement any additional integrations, implement obscure workarounds or waste time and energy negotiating and managing. Simply enable this feature on your Admin account and sit back and focus on creating amazing content for your audience.

Additionally, your tax is calculated automatically and added to the price you set for your products before the transaction is processed. So, your company will no longer absorb the taxes that vary across areas.

Group orders are offered for all types of items (one-time pricing only) that include online courses, digital bundles and community-based services. You are able to accept payments using various methods, including credit card or the BNPL (we'll be covering this shortly) and bank transfers, and much more.

Recovery of Sales Opportunities that were missed by ignoring Purchase Reminders that are not complete.

Have you ever shopped at an online store and put some products in your cart and then forget to checkout -- only to receive an abandoned cart email a two hours later? The subject line of emails usually reads around the lines of "First name, your cart will soon expire" or "Hey, first name, you appear to have lost your item!"

You're probably aware of. These emails remind users to visit the site again and complete their purchase (or attempt to do it again).

Your business loses money when prospective learners don't go through with their transactions because they face payment difficulties like expired cards or insufficient funds. The good news is that you can use the Incomplete Purchase Reminders function lets users to email reminders to those who are affected, urging users to return to the checkout site and try again.

Simple emails like that above could remind people of the value you will get when you purchase your product and encourage them to try again. The email is issued only in the event that a potential customer hasn't completed the purchase within two hours of the first unsuccessful attempt. Therefore, you don't have to worry about contacting people with a spam message.

Enhance Checkout Conversions by using Intelligent Retries

To fix this problem, Stripe created Smart Retries, which TCommerce customers are able to use as a result of our relationship with Stripe. Utilizing machines learning technology, Smart Retries can find the most effective times to try retrying unsuccessful attempts at payment to improve the chances of a payment getting through.

We looked over the statistics, we saw that customers who activated Smart Retries on their websites earned an additional 30% in revenues!

This is not surprising due to the work involved in the creation of this feature.

Stripe utilized more than 500 attributes to train the Smart Retries machine learning model that included:

• Customer characteristics (their location, payment patterns, overall success rate of their transactions)
• business attributes (industry, geography, currency)
• Paying attributes (the story of unsuccessful and successful transactions with one particular card)
• Seasonality properties (time of the day, days of week, week of the month and the month in the calendar)
• Attributes of bill payment (business mix of product the way customers who have made successful payments use the product mix)

read: How We Created It: Smart Retries

Optimized Payment Solutions

Purchase Now and Later

Aren't you awestruck whenever you stumble across an online shop that lets the purchase of the item over time? This is exactly what TCommerce's Buy Now, Pay Later (BNPL) feature lets you to offer your students.

This flexible and interest-free method of payment makes your products less expensive and reduces the barriers for students to buy them. When you permit students to pay in installments it's likely that you'll see more purchases from people who wouldn't buy from you elsewhere. It's not everyone's budget to shell out $279 for the start for an online class, but if you permit people to pay $95 each month for three months, they just may be able to purchase the course.

We found that transactions made with BNPL are averaging worth 3x more than transactions made with cards -- and TCommerce customers that offer BNPL at the time of checkout make 7.5 percent more in revenue in average.

What's not to love?

Mina Irfan of The Universe Guru is awed by the science behind The BNPL feature. "Something I did not expect was the fact that when I offer Buy Now, Pay Later options for payment to my readers my students are more heard and seen. I feel my students are grateful that I'm supporting their interests in this manner that makes it easier for my students to be supportive of me."

Payments process BNPL services from payment providers such as Affirm, Afterpay, and Klarna. At the time of checkout, learners will have the option of finishing their purchase through BNPL providers that are available in the country they live in. If they choose, they will be directed to the website of the service provider to register an account. They will proceed to complete their purchase.

When the learner completes their purchase with an BNPL provider, you'll get the total amount paid to your bank account. This is comparable as credit card transactions. Additionally, you'll be able to see which provider that the student used to purchase your item using an order table or transaction table. Orders Table or Transaction Table.

Digital Wallets

Digital wallets are digital versions of traditional wallets. they are popular because they let people store and control their credit card and debit card details securely in digital form.

Through TCommerce, you are able to offer your learners the option of buying your product using electronic wallets such as Apple Pay, Google Pay, Cash App, and Link by Stripe. Actually, we found that providing Link by Stripe as a payment method could increase conversion rates by more than 7percent.

The flexible and easy payment method allows people to make transactions fast without having input their personal information or use a third party payment gateway provided they already use the digital wallet you select at the time of checkout.

Integrated Bookkeeping Tools

The bookkeeping process is an essential element of running a successful business. However, we realize that it can be difficult to enjoy doing all that work using numbers and formulating things like income, expenses, and profit in spreadsheets. It's an overwhelming task, especially if your business grows fast.

That's why TCommerce comes with tools built in to make sure that your financial statements are up-to-date (no duplicates, missing or incorrectly classified transactions) and that your business is in compliance with sales tax laws and regulations.

TCommerce Reports

TCommerce reports are available in two types that include the Payouts Report and the Order Transactions Report. Its Payout Report shows you all the money that has been deposited into your bank account. On the other hand, the Order Transactions Report comprises detailed data on every purchase made by a customer.

In reconciling your accounts when reconciling them, check both reports to verify that the number of orders you placed in your account is the same as the money you put into your account. As an example, if for instance you are selling an online class for $70/person and receive 35 sales in April (according to your Report on Orders Transactions Report), you should have $2,450 total in the Payouts Report. If you are less than this, it means that certain transactions have not been accounted for.

Additionally, you can use financial reports to gauge whether your business is expanding and whether it is healthy financially. The four core metrics you should constantly monitor are:

• Expenses. Spending money on the business (e.g., budget for marketing, cameras Graphic design experts' salaries for example. );
• Profit. Profit is the amount you earn after deducting all your expenses;
• Income Taxes. This is the amount you pay the government each year and
• Cash Flow. The money is in your account to cover future expenses.

The first two metrics such as Profit and Expenses help you determine if your business is profitable or is likely to become. Be sure that you're spending more money than you take home every month. The other two metrics ensure that you're paying the correct amount of tax at the right time, as well as having enough money in the savings account to address any issues, should any arise at some point in the future.

• The number of Order Bumps sold
• How many courses you've delivered compared with other offerings
• Which products are not selling?

The metrics you use can help identify any problems that you may face in your organization and formulate strategies to fix them.

If you're using the QuickBooks app for your bookkeeping, you can auto-sync the data from your payments to your QuickBooks account. partnered with Acodei, a third-party app developer, to help our clients seamlessly transfer their QuickBooks transaction information at a rapid pace, such as the sales, refunds, payments, fees, and taxes.

This minimizes errors and lets you get current financial data directly on your QuickBooks dashboard, streamlining your accounting and reconciliation workflow.

Subscribers Dashboard

This dashboard, a component of Analytics which is a part of Analytics, offers both bird's eye and granular views into your plans for payment subscriptions and subscriptions which allows you to assess what they're doing and make informed decisions based on data to improve their performance. Additionally, you won't need to manage multiple dashboards for all your metrics; this one is able to track and present information that comes from multiple payment providers within one dashboard.

In this case, you can proactively create a strategy to get rid of learners who have been churned and then re-convert them or you could find your top learners and focus your marketing efforts on these learners to achieve greater results.

Automated Tax Solution

Tax preparation is perhaps one of the most frustrating, tedious, and complex part of running an online business. However, you must do it since filing your taxes in the right time will keep you out of the jail.

However, here's what's really important When your company expands as does your tax obligations, and trying to figure out the mechanics of tax obligations hinders your ability to focus on what is most important: growing your company.

Why?

Because in America and Canada, in the United States and Canada, taxes differ across states and provinces and they change frequently. To pay the right taxes it is essential to know the tax laws and regulations in your jurisdiction as they relate to your business, as well as in the jurisdictions of all cities and countries where your customers reside.

Getting all the details right can be a hassle. However, if you don't get all the details correctly, your company might end up underpaying (or paying too much) taxes. When you underpay taxes then the government can punish you with fines in the event that you exceed your tax liability you lose the money. Hiring an accountant to sort out your taxes also costs the money you might not be able to spare in the case of a smaller firm. Whatever way you interpret the situation, you're in a losing scenario.

However, it doesn't have to be.

Certain governments have laws which require online sales platforms such as Thinkfic to pay taxes on behalf of their sellers. That means if you use payments, TCommerce will automatically collect and pay tax on all purchases made by students located in the US as well as Canada. This allows you to concentrate on the exciting aspects of running your business, instead of spending time on taxes-related calculations.

"We offer courses to students all across the US and it can be difficult to comprehend the rules that apply to sales tax laws across the states," adds Christopher Wolfe, O.D., FAAO, Dipl. ABO, Exclusively Eyecare. " has made the process of making sales tax payments and collecting it so easy that I'm not even aware that it is happening in the background."

Remember when we said that TCommerce determines the tax you owe and adds it onto the price that you pay for Group Orders before the sale is completed? Well, it is the same process with all purchases, not only Group Orders. For instance, if you're selling an online course at $167 and a student in Maryland purchases it, they'll have to pay $177.02 (with $10.02 as the applicable tax). Therefore, you'll get your full $167, instead of having the tax absorbed from the earnings.

Since TCommerce handles sales tax it is virtually impossible to risk underpaying (or exceeding) tax or in violation of any tax law. This means that your business will be protected from audits that are unnecessary and the penalties associated with infractions.

James Procter of ExamPrep has this to say about the implementation of TCommerce's tax solutions:

"The implementation of 's sale tax software was completely smooth and seamlessly in conjunction with my current process for processing payments. The software calculates automatically the correct amount of sales tax based upon our product offerings and the customer place of purchase. The solution has removed the requirement for tax calculation by hand, which has made the sales process more efficient and precise."

  Find out more information about how the Sales Tax Solution works here.

Payments: A Integrated Payment Processor

What differentiates Payments from other existing payment processors is it's integration. You can handle all your payments, refunds, as well as subscriptions in one location without the need for third-party processors.

Imagine this: First, you get the best-optimized, secure and fast checkout procedure ever. Performance Checkout Performance Checkout, as we call it, is an out-of-the-box option that offers a seamless experience for customers: it includes only the minimum required fields that validates the information in real time and automatically populates fields for repeat customers and allows them to buy your items in a single touch.

You also get amazing selling tools such as Gifting, Order Bumps, Group Orders as well as Complete Purchase Reminders, and Smart Retries, all of that are specifically designed to help you boost conversions, skyrocket your revenue, and expand your business exponentially.

It doesn't stop there. You can also avail the Buy Now, Pay Later feature, which accommodates those with different budgets as well as the possibility of letting customers pay using digital wallets that they already use.

TCommerce's one-click payment controls allow you to easily make refunds in a single click which saves a lot of time, and allows you to be more focused on interesting tasks. It is possible to effortlessly make refunds, retry, cancellation on, stop, or resume the payment process, look at your accounts, and manage business administration all from one place -- no hassle! Not to mention the TCommerce reports as well as QuickBooks integration, which simplifies the process of bookkeeping for you. And you won't need to worry about tax matters anymore because TCommerce manages that automatically, too.

It's no wonder that customers who use Payments experience an average of 22% bigger the size of their transactions.

Katja Swift, co-founder of Commonwealth Herbs loves the automated nature of payments.

        " completes all the tasks for me, and that's an easy thing to think about. The item was always in my to-do list of things to sort out but now it's off my list - I didn't have to worry about anything. It's completed!"