Unlocking Market Success: The Real Challenge After Developing Your AI Tool

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You’ve finally decided to take your side hustle to a full-time gig. After years of false starts, you’ve made a few inroads into the local market and are ready to expand your footprint beyond your region.

The great news is that you’re on the right track. Selling digital products such as AI tools requires no overheads, inventory, or shipping logistics, according to Fast Company.

Ok, so you’ve created a tool that could help scale a business or poured your heart into a potential “game changer.” But, no matter how good your product is, how to sell it counts.

Like selling SaaS software videos or SaaS software video games, the end goal of selling an AI tool is to increase revenue streams.

Below, we’ll provide valuable insights for reaching customers around the globe.

#1. Choose the Correct Selling Platform

Many first-time sellers opt to sell their digital products via a third-party platform. They make it easy to set up your store and provide access to thousands of customers.

However, nothing comes for free and online marketplaces are paid a commission for every sale, eating into your precious revenue.

The next option is building your website and eCommerce store. This gives you full control over your branding, pricing and the purchasing process.

Invest in a global payment tool to ensure a seamless buying journey for your customer. Choose a management system that handles global tax, compliance, and transactions, advises PayPro Global.

#2. Leverage Other AI Tools to Expand Reach

Tools powered by AI can be used to your advantage. What counts in your favor is that they aren’t in short supply.

Forbes says searching beyond mainstream platforms can give you a competitive edge. For instance, some tools take a deep dive into data insights and analytics, giving you the power to make smarter decisions.

Leveraging adaptive software can help with your marketing strategy and predict customer behavior.

#3. Accept Worldwide Payments

Many startups make the mistake of utilizing a restricted payment gateway. This causes major headaches for customers, forcing them to take their business elsewhere.

Once again, it comes down to choosing the correct selling platform. Accept payments from international clients using their preferred local payment method. Expand payment options by enabling credit cards, digital wallets, QR codes and secure EFTs.

An excellent idea is allowing in-game or in-app purchases. Customers can purchase your product directly via their preferred application.

#4. Customer Retention

You don’t want to fall victim to the dreaded customer churn. According to Exploding Topics, strong customer retention rates are a necessity for any company.

The trend-spotter says email remains the top delivery method for retaining clients, accounting for 89%. Also, worth noting is that 60% of clients believe good customer service is key to gaining and keeping happy customers.

MarTech notes that despite the stats, B2B marketers only spend about 15% of their time and effort to retain valuable customers. The admission is at odds with a company’s primary objective: acquiring and retaining customers.

#5. Streamline the Checkout Process

A developer-friendly API (Application Programing Interface) allows for easily-transferable data and services from other software applications with minimum downtime.

To enhance the customer experience, customize the checkout process to match your branding, allowing for a cohesive customer journey. This is especially important as an eCommerce store.

Enhance the customer experience by customizing the checkout process to align with your branding, creating a cohesive journey.

A seamless, efficient checkout boosts satisfaction and reduces abandoned carts. Simplify the process with single-page checkout, request only essential information, enable auto-fill, and offer a guest checkout option.

#6. Avoid Global Compliance Challenges

The biggest challenge of global expansion is ensuring compliance with international laws and regulations, which requires thorough research.

Some payment solution gateways utilize the MoR (Merchant of Record) model. The system simplifies the process of selling digital goods online.

The MoR is responsible for the legal and financial aspects of international transactions. It handles calculating, remitting, and complying with global tax regulations.

Parting Words

That famous saying “Rome wasn’t built in a day” rings true when scaling your business. It takes time, patience and hard work.

But, you can reach customers by implementing a unified payment system that supports you and your customer’s needs. Start on the right foot by accepting payments using your customer’s preferred payment method and local currencies.

Allow them to purchase your AI tool via an in-game or in-app store with minimal fuss. Optimize the checkout process by ensuring a fast, seamless purchasing journey. Decrease customer churn rates with top-notch customer service. And, always comply with global tax regulations.

Last but not least; retaining customers is more than an efficient payment gateway and having a stellar digital product. Always maintain your relationship with clients, and listen to their concerns to create a trusted and loyal brand.

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About the Author: Lenora Singh