Spreedly enables TextMagic to easily connect to multiple gateways
TextMagic is an all-in-one SMS solution enabling businesses to easily communicate with their end customers. TextMagic customers can send notifications, alerts, reminders, announcements, confirmations, and SMS marketing campaigns seamlessly by utilizing TextMagic’s platform.
With most of TextMagic’s competitors operating on monthly billing cycles, TextMagic offers a competitive advantage by leveraging a pay-as-you-go model where credits never expire and customers always have up front, transparent pricing. Using Payments Orchestration has allowed Textmagic to simplify payment processing by allowing us to connect multiple payment gateways seamlessly and securely.
However, connecting to a large variety of gateways isn’t the only crucial piece to accepting customer payments for TextMagic.
“Even if credit doesn't expire, we can verify expired cards every month and automatically update them with the help of Spreedly,”
Edward Tark, Chief Product Officer at TextMagic
How TextMagic utilizes Payments Orchestration from Spreedly to optimize ROI
Working with Spreedly, TextMagic has been able to significantly reduce the time spent by their internal development teams on building and maintaining payments integrations. This allows the TextMagic team to focus on building more value for their core business while also gaining peace-of-mind knowing Spreedly’s robust, PCI-compliant vault safely secures customer payment methods.
“We also do not store credit card details on our servers. Spreedly secures payment information for us,” added Tark.
Payment KPIs are the key to long-term growth and success
Optimizing the success of payments is crucial to the long-term success of any growing organization. Ensuring that your business is tracking the correct metrics, such as transaction success, is an important step to ensuring your organization is improving the performance of your overall payments strategy.
“We measure many different metrics directly in our dashboard. These metrics include, but are not limited to the: number of sales, average order value, number of new sales, ARR, MRR, churn, credit spent, 1st to 2nd order conversion (2nd to 3rd, and so on), trial to paid conversion, ARPU (average revenue per user), credit top-ups, and CLV,” adds Tark.
Tracking KPIs and adjusting your payments stack to improve payments can also improve the customer journey. This is done through continuously comparing payment performance with industry standards. This ensures your customer experience remains as positive as possible. Removing many hurdles due to false declines and other issues helps create satisfied, loyal customers.
“...our goal is to unify every step of the customer journey,” Tark concluded.