February 2024 Issue
Welcome to the February issue, where we’re diving into “Buy Now, Pay Later” (BNPL). It’s changing the way we shop and sell. We’ll tackle common misconceptions and show you how BNPL can boost your business. 🚀
And get ready, Kajabi Payments is gearing up to launch to Heroes in Canada 🇨🇦 and Australia 🇦🇺. If you haven’t already signed up for the interest list, drop your email here to be among the first to get access!
Buy now, pay later (BNPL) services are projected to reach 900 million users by 2027 due to easy credit access and online shopping growth. BNPL enables installment payments for customers, while sellers get immediate payment minus fees. The BNPL provider manages collection for any defaults, reducing your risk as the seller. This makes BNPL an attractive option for Heroes looking to boost sales and improve customer satisfaction by offering flexible payment solutions.
Unlock Afterpay with Kajabi Payments
Kajabi Payments lets you easily add Afterpay to your offers in just one click, boosting your sales strategy. Afterpay can increase the average order value by 40% and attract new customers, who shop 50% more frequently compared to non-users.
Already Using Afterpay?
Check out the Afterpay assets below to better market this payment option to your customers.
Introducing Manual Retries with Kajabi Payments! You can now instantly, manually retry a failed payment. This means no more waiting around for the scheduled attempt, and no more reaching out to support to request a retry.
And here’s the best part: Kajabi Payments now also automatically charges cards for past due subscriptions the moment a customer updates their payment method on file.
[Helpful Hint] Check out Failed Payment Reasons to learn why a payment failed and how to fix the issue.
🧪 QuickBooks Online Integration in Labs: With Kajabi Payments QuickBooks Online Integration you can keep track of project profitability, view financial reports, and easily manage your cash flow. Want early access to this feature? Head over to Labs and turn it on for your account!
✏️ Kajabi Payments Statement Descriptor: You can now edit your Statement Descriptor directly through your Settings without submitting a request to support. Remember, this is the line of text that appears on your customer’s bank or credit card statement. Keep it simple and clear to help prevent chargebacks or disputes.
❌ Fiction: I can’t use Kajabi Payments since I have a bookkeeper.
✅ Fact: Kajabi Payments and your bookkeeper don’t compete, they collaborate. Together, they amplify your business’s financial management, ensuring seamless operations.
With Kajabi Payments, you can easily export payout details, whether it's a summary or a detailed breakdown, perfect for your bookkeeper's needs. Plus, seamless integrations with accounting software like Xero and QuickBooks Online ensure smooth collaboration.
Using both a bookkeeper and Kajabi Payments boosts efficiency and makes managing money easier and more accurate. Learn more about exporting payout details here.
Are you using the right kind of metrics to shape your business strategy? Let’s make sure you are looking at the data that really matters.
Focus on data that guides growth and decision-making. Avoid misleading vanity metrics, such as social media followers, that don't always reflect performance. Choose metrics that provide real insights into business strategies.
Actionable Metrics
✅ Revenue
✅ Conversion Rates
✅ Customer Lifetime Value
✅ Customer Acquisition Cost
✅ Active Paid Subscriptions
Vanity Metrics
⚠️ Impressions
⚠️ Views
⚠️ Followers
⚠️ Subscribers
⚠️ Clicks
Learn more about how to use data analytics for your business strategy.
“You might think I'm biased (because I worked on bringing this to life!), but Manual Retries is a game-changer. When a customer's payment fails, it kills your momentum, especially when an automatic retry is days away - but now you can recapture a payment instantly.
And get this: when a past-due customer updates their payment info, we now charge their card immediately, saving you even more time."
Name: Ieva
Job: Senior Product Manager
Favorite Feature: Manual Retries
- Xero has extended their special offer for you: Enjoy a free 3-month trial of Xero. Take advantage of Kajabi Payments' direct integration with Xero to simplify your finances.
- Check out our State of Creators ‘24 Report: We examined over 2,000 creators to uncover the strategies, behaviors, mindsets, and demographics that set six-figure creators apart.
Curious about what unfolded in January? Dive into the previous edition of The Payments Pulse to catch up on all the highlights and developments from last month here.
