How We Boosted Our Revenue by 18% Using PayPal
I've been using PayPal for years. It's been so long I can't even remember when I first started using it. But I would've never guessed that using it would increase my revenue. Sounds crazy, right? Today I'm going to break down how we boosted our revenue by 18% using PayPal.
Well, before I dive into how, I wanted to first let you know that this video is sponsored by no other than PayPal. But what's funny is I would've created it either way so you can copy my results.
So how did I get the 18%?
RESOURCES & LINKS:
____________________________________________
PayPal Honey: https://www.paypal.com/au/webapps/mpp/honey
PayPal: https://www.paypal.com/au/home
Ubersuggest: https://neilpatel.com/ubersuggest/
____________________________________________
First off, we have a software company called Ubersuggest. Although we have paying customers from all over the world, a large chunk comes from the United States, roughly 26%, and then it's followed closely by countries like the United Kingdom, France, Germany, and Japan. So I never thought about taking PayPal as a payment option because all of our paying customers have credit cards that we accept, and what's even funnier is we only got the request to accept PayPal a few times a month. For that reason, we didn't think it was important.
But when my co-founder, Mike Kamo, told me about his girlfriend's e-commerce site, although they were only focused on the United States, roughly 40% of their customers paid via PayPal. So we decided to run an experiment. We added PayPal as a payment option on our checkout. Within 30 days, we saw a drastic difference. Our new revenue numbers grew by roughly 16%. A bit more than 35% of our customers chose PayPal as a payment option. Fast forward a few years later, that number is up to 18%.
Just think about that. By adding one simple additional payment option, we grew our revenue by 18%. Plus, PayPal's global network makes it easy for a customer to pay you in one currency, and then PayPal can
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