December 2023 Issue
Hi Heroes! 👋 I’m Steph, Head of Commerce here at Kajabi. Remember back in May when we launched the Kajabi Payments waitlist? The goal was to provide a customizable all-in-one payment solution designed for creators like you, aimed at accelerating revenue.
I'm thrilled to share that since May, 16% of you have welcomed Kajabi Payments into your businesses and have processed over $60M. Thank you for trusting us with such a critical part of your business - it’s a big deal, and we don’t take it lightly 🙏.
What’s next? We’ve got big plans for 2024. We're excited to expand Kajabi Payments globally, beginning with Australia 🇦🇺 and Canada 🇨🇦. More regions are on the horizon, along with many other exciting developments!
So here’s to you - thank you for being the heart of this journey. Here's to growing together and making 2024 an incredible year!
Cheers,
Steph
2023 YEAR IN REVIEW
2023 was a year of breakthrough innovation for Kajabi Payments. We launched Apple Pay, Google Pay, Afterpay and the Xero integration. Next up? Launching our new Sales Tax feature and taking Kajabi Payments global in 2024!
COMING SOON
💵 Sales Tax Feature: Sales Tax is coming very soon to Kajabi Payments! Automate precise tax calculations by location, send tax-friendly receipts, simplify tax reports with detailed insights, and transparent, pay-as-you-go pricing.
🌎 Kajabi Payments Going Global: We are in development to bring Kajabi Payments to Australia and Canada, with more regions to follow.
PRODUCT UPDATES
🧾 Enhanced Receipts: Our receipts now feature a new design with added customization options, including editable titles, to enhance the post-purchase process. The Member Portal has also been updated, allowing your members easy access to modify their contact information and tax ID, as well as to view and download receipts.
Hero Highlight
Meet Justin Welsh of The Operating System! Justin is a former startup executive who helped build two startups past valuations of $1B, teams of 150+ people, and raise over $300M in venture capital. Now he’s building his one-person knowledge business toward $5M in annual profit.
A key to his success? Efficient tools like Kajabi Payments.
"Kajabi Payments has worked wonders for me. More payment options have led to stronger conversions, more (happy) students, and increased revenue. Plus, it's nice having all of my payment data in one place. Highly recommend."
FACT V. FICTION
❌ Fiction: Kajabi Payments is more expensive than Stripe.
✅ Fact: Despite some clever marketing, we recommend looking further down the fee pages of other payment processors. 😉 Kajabi Payments fees are inline with standard processing fees, and actually the exact same as Stripe!
Pro Tips
Your conversion rate is one of the most important metrics because it gives you a number to express how well your marketing is working. Here are 3 things you can do right now to increase your conversion rates:
✅ Make It Simple: One of the easiest ways to improve your conversion rate is to simplify the customer experience. As an example, consider the checkout page. When Elastic Path changed theirs from two pages to one, their conversion rate rose by 21.8 percent.
✅ Remove Distractions: You should have one goal for every page and remove anything that interferes with that goal. To reduce distractions, follow the Rule of Noise. It’s your job to direct your customer’s attention on the next step.
✅ Adopt A Mobile-First Design Approach: On most websites, mobile users outnumber desktop users. So your website needs to be designed for mobile first. When Walmart optimized their website for mobile users, they boosted their conversion rate 20%, and mobile orders went up 98%.
To learn more, check out 16 Ways To Effectively Increase Your Conversion Rates.
Feature Spotlight
Meet Amy Lu, a Product Designer here at Kajabi. Her focus on user experience and design makes her favorite feature an easy decision:
"Since introducing currency conversion in Kajabi Payments, it's become a favorite of mine. Just check the Purchase Information page for settlement currency and exchange rate details. It simplifies transaction breakdowns, eliminating manual calculations. This is about more than numbers; it's about making commerce easy and accessible for everyone."
Reminders
⚠️ Attention Heroes Using PayPal: PayPal has rolled out updates to their API, which requires you to upgrade your PayPal account to the latest version by Jan 31, 2024.
💻 Xero Webinar: If you weren’t able to attend the Xero webinar hosted by our Hero Katie Ferro, we’ve got you covered! Check out the recording of Xero Explained: Unlock the Power of Bookkeeping. Please note, you will have to “register” to access it.
👀 1099 Forms Coming Soon: Be on the lookout for the 1099 forms sent via email in January if you meet the IRS threshold. Not sure if you qualify? We can help you understand the IRS guidelines, contact [email protected] for assistance.
Curious about what unfolded in November? Dive into the previous edition of The Payments Pulse to catch up on all the highlights and developments from last month here.
