You’d be forgiven if you thought “domains” when you heard GoDaddy. It is the world’s largest registrar and web-hosting provider after all.
But GoDaddy is changing. It’s rebranded the company and redesigned its website, and has churned out impressive turn-key products and services specifically for small businesses. Matter of fact, GoDaddy has over 12 million hard-working solopreneurs, startups, and mom & pop shops trusting the Internet company to run everything from email marketing to logo design, invoicing to IT infrastructure to office software, et cetera.
GoDaddy is helping small businesses start, grow and run their businesses, connecting them with their customers and saving time and money on crucial business operations, by giving them the tools and resources needed to compete with the big boys.
Listening and Delivering to Small Businesses
When GoDaddy spoke to customers about its Online Bookkeeping platform and the general challenge of SMBs, the findings from small businesses were pretty straight-forward:
- Paper checks are universal, but are outmoded. Issuing and accepting paper checks may benefit from its general familiarity, but the hundreds-year-old payment handcuffs small businesses and adds unnecessary layers on operation costs, like administrative errors, time delays, environmental concerns, and delayed payments. They are a shrinking payment method that on average costs around $7.15 per check, according to Aberdeen Group.
- Existing online alternatives are expensive. At 2.9% (plus 30 cents) per transaction, the fee paid on $1,000 invoice could pay for a business lunch or new monthly service. But what if you’re doing fifty invoices a month at $1,000 with the existing service? That’s not only 119x more expensive than Dwolla, it’s the salary of a potential part-time employee.
- Friction and anxiety trump savings. The thought of requiring an invoice recipient to register or migrate to a third-party payment platform seemed daunting, confusing, and time-consuming.
- Change is scary. Businesses didn’t want to leave or interrupt the existing accounts payable and receivables flows they loved so much with GoDaddy’s Online Bookkeeping platform.
Bottom-line: they wanted a simple, no hassle, and low-cost way of getting paid, but without stressing business relationships or existing processes. Dwolla, with its user friendly interface, low-cost, and guest payments, can easily address #1 and #2 on its own, but solving #3 and #4 could only be done by GoDaddy and its inventive product team.
What they created was pretty cool. Be sure to check it out on “GoDaddy Online Bookkeeping and Dwolla Team To Deliver Quick, Easy Online Payments for SMBs.”