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Navigating E-Commerce: Fintech, StartUps & Customer Experience With Glen Swindell

About THE SPEAKER

Glen Swindell is a distinguished Fintech and eCommerce executive renowned for guiding companies through their growth phases, from their inception to the complexities encountered in the mid-market. His extensive experience has established him as a fountain of knowledge in Sales & Revenue Operations, where he has significantly boosted revenue for startups, local businesses, and large enterprises through the application of pragmatic growth strategies grounded in real-world applicability.

With a rich background that spans over a decade in eCommerce, Payments, and SaaS, Glen’s approach to leadership and strategy formulation is deeply influenced by his experiences as an Army Veteran, where he adopted the principles of servant leadership. Specializing in crafting effective growth strategies, optimizing business processes, and addressing eCommerce churn and retention, he aims to serve as a trusted advisor in sales strategies and revenue optimization.

In his discussions, Glen shares insights from his journey, emphasizing the collective experiences, challenges, and triumphs. His mission is to transform podcast episodes into actionable playbooks for success, offering listeners a gateway to elevate their ventures with lessons from his extensive professional experiences.

What you’ll learn

Navigating startup growth stages and customer feedback
Power of storytelling for startups
Ecommerce payments & fintech latest trends
Integrating social impact into your brand story
And much, much more!

Resources Mentioned

OrangeCore Website
Glen Swindell's LinkedIn
RetainUP Email Marketing Agency
Rahi Jain's LinkedIN

In this episode…

  • 00:00:00 In this section of the podcast, Glen Swindell, founder of Orange Core Group and fintech and e-commerce expert, discusses the importance of storytelling for startups and common mistakes in prioritizing e-commerce solutions for internal processes rather than focusing on the consumer experience. Swindell, a former Army veteran, shares how his military background prepared him for the fast-paced world of technology and emphasizes the significance of adaptability. Looking ahead to 2024, he predicts that e-commerce will continue to scale up and that fintech will open new avenues within the technology and payment solutions realm, including open banking and merchant of record solutions. The conversation also touches on the rising popularity of buy now pay later features in the fintech industry.
  • 00:05:00 In this section of the YouTube video titled “Navigating E-Commerce: Fintech, StartUps & Customer Experience With Glen Swindell #ecommerce,” Glen discusses the current state of buy now pay later (BNPL) financing and its potential benefits for consumers. He previously worked for an organization that offered BNPL solutions and acknowledges the positive aspects, including increased purchasing power for middle and low-income families. However, he stresses the importance of governance, sustainability, and customer service as the industry grows. Glen also briefly touches upon Open Banking and the Merchant of Record solution. Open Banking is a relatively new concept that enables merchants to expand globally by providing all-in-one payment, fraud, and tax compliance services. This allows businesses to sell products in various countries with ease. The Merchant of Record solution has gained popularity among merchants, with many e-commerce brands predominantly relying on solutions like PayPal and Stripe for payment collection. However, opinions on the Merchant of Record solution vary; some consider it a game-changer for global expansion, while others believe it may soon become obsolete.
  • 00:10:00 In this section of the “Navigating E-Companies: Fintech, StartUps & Customer Experience With Glen Swindell” YouTube video, Glen discusses the use of Stripe for e-commerce transactions and tax obligations. He refers to Stripe as an “all-in-one menu” for payments, invoices, and tax calculations. However, Stripe does not currently handle global tax remittance. For smaller startups, this may not be a major concern, but as businesses expand globally and conduct 40% or more transactions abroad, it becomes essential to utilize platforms that can calculate and remit taxes to local entities. Glen advises e-commerce brands to optimize their payments process by implementing a one-page checkout, providing popular payment methods such as PayPal, Apple Pay, and Google Pay, and using geolocation to offer local payments to global consumers.
  • 00:15:00 In this section of the YouTube video titled “Navigating E-Commerce: Fintech, StartUps & Customer Experience With Glen Swindell #ecommerce,” the speaker discusses the importance of simplifying checkout processes for e-commerce brands to improve conversions. He mentions how platforms like Shopify have introduced solutions like Shop Pay to streamline payment processes, but notes that new technologies and players are constantly emerging in the fintech space. The speaker also touches on the consulting services he provides for startups and e-commerce businesses, focusing on business optimization, sales leadership, and e-commerce expertise to help improve conversion and retention rates.
  • 00:20:00 In this section of the “Navigating E-Commerce” YouTube video with Glen Swindell, the focus is on optimizing the consumer experience in e-commerce to ensure conversions and retention. The common trend among startups before getting this mindset is to prioritize getting as many customers as fast as possible. However, Glen suggests that startups need to step back and look at the flow from the customer’s perspective, ensuring a streamlined checkout process and comfortable information-sharing experience. Common mistakes include prioritizing internal processes over the consumer experience, and Glen recommends addressing these mistakes to enhance sales and customer lifetime value. Additionally, proper balance between short-term and long-term strategies, such as AB testing and prioritizing packages, can be utilized for optimal results.
  • 00:25:00 In this section of the YouTube video “Navigating E-Commerce: Fintech, StartUps & Customer Experience With Glen Swindell #ecommerce,” Glen Swindell discusses the importance of subscription-based business models for direct-to-consumer (D2C) brands. Swindell explains that subscriptions make software services more accessible for consumers by breaking down large payments into smaller, monthly installments. For businesses, subscriptions provide long-term revenue and help with scaling. However, reducing churn and retaining users is a challenge in the subscription business. Strategies for handling churn include providing an annual subscription option with a discount, making the annual option the default choice in checkout, and consumers often preferring the annual price once they commit to the product. Swindell concludes that subscriptions are a significant portion of businesses in the startup world and can bring in one-year commitments rather than dealing with the higher churn associated with month-to-month payments.
  • 00:30:00 In this section of the “Navigating E-Commerce: Fintech, StartUps & Customer Experience” YouTube video with Glen Swindell, the focus shifts to the use of subscription-based models and free trials in e-commerce, specifically for product-based businesses. Swindell emphasizes that offering a free trial can increase conversions by allowing consumers to test the platform before committing. He also talks about howAmazon has successfully turned one-time purchases into subscriptions by incorporating Prime costs into orders. For product-based businesses, Swindell suggests utilizing subscription-based platforms to manage packages, plans, Geo-based location for taxes, and pop-up discounts. He also mentions the impact of AI on e-commerce and fintech, with many services offering AI credits in subscription packages, leading to the need for usage-based subscriptions. Overall, Glen Swindell highlights the significance of subscriptions, free trials, and AI in modern e-commerce and how brands can effectively implement them.
  • 00:35:00 In this section of the “Navigating E-Commerce” YouTube video, Glen Swindell discusses the role of AI in e-commerce and the importance of improving customer experience. He notes that some organizations are merely adding AI solutions to compete, while others have transformed their platforms and markets by providing exceptional AI functionality. Swindell also emphasizes that standardization is insufficient when it comes to designing effective customer experiences, as strategies need to account for individual consumer behavior and preferences. He suggests using testing methods to optimize the customer journey and understand what works best for specific businesses and their products. Swindell highlights that while there are similarities in the customer journeys for SAS businesses, the key difference is the product being offered. For some brands, the product may require an expansive story to get consumers to convert, while others may feature self-explanatory offerings that make the buying process easier. Overall, personalized approaches to improving the customer experience are crucial for e-commerce success.
  • 00:40:00 In this section of the YouTube video titled “Navigating E-Commerce: Fintech, StartUps & Customer Experience With Glen Swindell #ecommerce”, the speaker Glen Swindell discusses the importance of storytelling in the e-commerce sales process. Swindell explains that both startups and established brands need to tell a story, but the focus and execution are different. Startups need to tell their story to differentiate themselves in a crowded market and increase conversions. Those with a larger market presence can rely more on features and benefits to drive sales. However, Swindell warns against overcomplicating the story and repeatedly telling it, instead suggesting letting the story speak for itself. Swindell also touches on how sustainability and other trends have become part of many modern startup stories to connect with customers and echo their values. Ultimately, Glen Swindell emphasizes the importance of utilizing storytelling effectively to enhance brand awareness and business success.
  • 00:45:00 In this section of the “Navigating E-Commerce” YouTube video, Glen Swindell discusses how various trends, such as sustainability, gluten-free, and vegan labels, impact brand building and storytelling in the e-commerce industry. He notes that while symbols like gluten-free certifications explain themselves, more significant storytelling is necessary for vegan products due to the broad nature of the “vegan” label. Swindell also emphasizes the importance of sustainability for both enterprises and startups in e-commerce, mentioning renewable energy, social impact, and the long-term sustainability of software and products as key factors. The conversation transitions into the role of fintech in e-commerce, with Swindell highlighting the sustainability benefits of phone payments as a game-changer for the industry.
  • 00:50:00 In this section of the YouTube video titled “Navigating E-Commerce,” Glen Swindell discusses the importance of sustainable revenue generation for startups and businesses. He advocates for a responsible growth mindset rather than a “grow at all costs” approach. Swindell emphasizes the significance of remembering the consumer, staying true to the product story, and maintaining a substantial revenue flow. He also emphasizes the potential influence of loyal customers on the brand’s product roadmap and strategies. Swindell warns against being overly influenced by them, but stresses the need for identifying how to effectively incorporate their input.
  • 00:55:00 In this section of the “Navigating E-Commerce” YouTube video, Glen Swindell emphasizes the importance of a customer-centric approach for businesses, especially in the e-commerce industry. Swindell notes that customers ultimately pay the bills and keep businesses running, making it necessary for companies to listen to consumer needs. However, Swindell advises transparency and realistic implementation rather than bending over backwards for every customer demand. For startups, Swindell encourages maintaining a distinct story and focusing on creating a healthy business core for long-term growth. Glen Swindell is with Orange Core Group and offers business optimization, practical consulting, fractional leadership, and e-commerce optimization solutions. The overarching message is the significance of creating a strong and healthy business foundation while prioritizing customer needs.

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