Enjoy this webinar, hosted by Kevin Colombu, Account Executive at ROLLER, and Will Nicholson, ROLLER's Head of Payments.
Here the team discusses how your payments processor can be a critical lever to increase guest satisfaction, improve your operations, and grow your business.
Changing guest expectations
Let's first talk about how guest expectations have changed.
A few fundamental shifts are happening in the leisure and attractions industry. The biggest one by far is how technology is embedded into nearly every touchpoint a guest has with your business.
Think about it; guests are using technology to help them discover new experiences, make purchases online, sign waivers, check in with QR codes, pay with their phones, order food and beverages, and share their experiences.
We saw a HUGE acceleration of digital experiences during the peak of COVID, and the trend is not slowing down. eCommerce is now at 20% of global sales, and it's expected to increase to 25% by 2026.
For our customers, around 40% of sales come from online bookings, and we're seeing continual year-on-year increases.
Keeping up with guest expectations
The biggest factor in technology adoption is the convenience it offers guests. For them, it's much easier to discover, review, buy and share experiences.
Did you know…
- 97% of customers have abandoned purchases because the online experience wasn't convenient enough
- 1/3 of customers will walk away from a brand they love from just one bad experience
- 73% of customers expect a company to understand their unique needs and expectations
And another thing your guests are doing? Avoiding phone calls – in part because it's no longer necessary to pick up the phone to do what they need to. 61% of millennials and 42% of baby boomers would altogether avoid calls if they could.
All of this is to say that if you don't pay attention to the bigger shifts in the industry and keep up with guest expectations, you will miss a lot of revenue. That revenue is not just from new sales, but you're also going to miss out on return visitation and the impact of guest advocacy.
What does this look like exactly? Keeping an existing guest is 7 times more cost-effective than acquiring a new one.
Return guests will spend 67% more than new guests, and 88% of consumers say that a company's experience is as important as its products or services.
Convenience and efficiency matter; if you want to grow your business, you need to pay attention to them. Let's find out why.
The Guest Experience Flywheel
If you think about your guests' experience, you have a series of steps:
- The first step is to attract guests by building awareness and interest in your offering,
- You then need to engage them by converting a prospective guest into a paying one via your online checkout, point of sale, or self-serve kiosk.
- After that, you deliver the experience a guest has purchased. This includes their purchase confirmation, the ease and speed of ticket redemption, your attractions, facilities, and staff, and any other experiences or offers a guest will interact with until they leave your venue.
- If you do a good enough job in the "deliver" step, guests return to your venue, and finally.
- Advocate for their experience, attract new guests and make your guest experience flywheel spin.
If you can deliver an exceptional guest experience, everything becomes much easier.
- Guests advocating for their experience attract more prospective guests for free,
- Positive reviews make it easier to convert prospects into paying guests,
- Happy guests spend more in your venue and return, and
- Happy guests share their experiences with others,
Thereby completing the flywheel and starting the cycle all over again!
Our goal at ROLLER is to reduce friction in every step of the guest experience, making it easier for you to deliver exceptional guest experiences and grow your business.
ROLLER Payments capabilities
ROLLER Payments is a cloud-based, fully integrated, and unified payment processing software. From our platform, you can process sales (online and in-store), refunds, and even reconcile and report!
ROLLER Payments a payment processing solution that is laser-focused on the needs and requirements of the leisure and attractions industry.
It is based on three principles:
By combining these principles into our product, we can provide our customers with the capability to stay ahead of the curve.
What does this look like?
- Unified commerce
- Flexible payment methodology
- Intelligent membership payments
- Advanced fraud protection
- Easier to manage systems
We know that understanding your sales and payments is the most important thing you need to be across in your business, and we also know how much time and effort it can take to reconcile and report on payments.
Whether you sell something online or offline, ROLLER Payments will provide a central, unified solution that saves you time and money.
Instead of chasing down reports from your incumbent payment processor's portal and reconciling them with what's in ROLLER, everything is already in one place.
We currently offer terminal tipping, and we're in the process of rolling out tokenized tipping. As we roll out these further developments, it will also open the door to being able to offer things like table ordering of food and beverage.
As mentioned, ROLLER Payments offer an omnichannel solution by connecting both online and offline payments, creating a seamless experience for your guests.
Adyen has crunched the numbers on what unified commerce means for your business, and it delivers a 9% increase in business performance.
Read this next: Making Sense of Point of Sale (POS) Reports
Flexible payment methods
Earlier, we shared what people valued most in their customer experience, and if you recall, the most important features that people were willing to pay for were:
- Friendly service
- Knowledgeable service, and
- Ease of payment
Think about those top five for a moment. Two of the top five are related to service, and three are related to doing things easier and faster. When you look at those, it should be no surprise that 41% of Americans have used Buy Now, Pay Later services, and 24% of people globally have too.
With ROLLER Payments, you'll be able to provide all major payment options like:
- Apple pay, Ali pay, and credit cards,
- Cashless wallets, and
- BNPL like Afterpay and Zip,
Guests can easily pay how they like, increasing sales conversion rates and higher transaction values.
Using a service like BNPL also reduces business risk as BNPL manages the ongoing payment relationship while the funds are transferred to the venue.
Finally, we have optimized our online checkout to be, as much as possible, a 'one click' checkout, which reduces sales cycle time and increases conversion rates too!
Advanced fraud protection
Fraud looks very different for leisure and attractions businesses compared to other industries. It is rampant with chargebacks resulting in income loss and time spent trying to chase payment and reconcile accounts.
Most payment processors service multiple industries, which means they don't have the level of protection that ROLLER Payments provide.
ROLLER uses 3DS 2.0 and SCA (strong customer authentication) to protect our customers. 3DS, having such strong authentication, is more secure and can more reliably ascertain who is making a purchase. Because of this capability, transaction authorization rates increase.
Our payment processing is backed by Adyen. If you haven't heard of them, they're the payments processor that major tech companies like Apple, Spotify, and Uber use. The difference is we are their partner in the leisure and attractions industry.
Any fraudulent activity arising from one vendor in this space is then utilized for all other vendors in the industry. We collect key information from the fraudulent attempt, like unique identifiers such as email, IP, device information, etc., and can automatically decline any further attempts for any other vendor.
Intelligent membership payments
Next, we have what we call intelligent membership payments.
If you're not already utilizing memberships, then consider this your notice to start. Memberships are a massive driver of repeatable, predictable income for your business that can help through the seasonality many operators stress about.
If you are using memberships, let us explain how ROLLER Payments can take them to a new level by increasing your conversion rates and saving you revenue.
First, ROLLER Payments is seamlessly integrated with your ROLLER online checkout. That means that as soon as someone purchases online, a representation of their payment details is securely stored as a token.
That token can then be used for all subsequent purchases, such as a membership, without you having to collect their payment details again.
Exactly how you can easily purchase goods from Amazon with a click of a button; you can now do this in your ROLLER platform!
Tokenization makes purchasing convenient and takes far less effort, resulting in much higher conversion rates.
Next, let's look at how you can better recover failed payments. Memberships are a fantastic way to develop repeatable revenue, but there's the inevitable problem of failed payments when cards expire, run out of funds, or for any other reason.
This process of trying to collect failed payments is called dunning, and it usually involves several automatic retry attempts to try and recover those funds over time.
ROLLER Payments take dunning a step further by utilizing Adyen's global network that processes billions of transactions and its machine learning algorithms.
When combined, Adyen's functionality provides a smart dunning solution that significantly increases your success in recovering payments and retaining members.
Rather than just using fixed intervals, such as three, seven, and thirty days after a failed payment, smart dunning will use machine learning to attempt the collection when it's most likely to be successful.
Key benefits of ROLLER Payments
Finally, we thought we'd touch on a few key features our ROLLER Payments customers have told us they love and benefit from.
1. Optimization of business processes
Features such as integrated refunds ensure that refunds are processed faster and more efficiently, saving customers a tonne of time!
2. Anti-fraud measures
SCA and 3DA 2.0 tools bring greater peace of mind to operators, knowing that we are working together as an industry to combat fraud.
3. Advanced payment processing
State-of-the-art payment processing systems which are intuitive and easy to use make for better staff and guest experiences.
4. Flexible payment methods
More payment options allow vendors to cater to more customers and boost authorization rates.
5. Being a leisure and recreation industry-focused payments processor
ROLLER Payments, being purpose-built for the industry, provide operators with customization that other processors just can't offer.