Venmo Enhances Business Profiles to Drive Discovery

February 7, 2024

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Written By: Small Business Exchange

Photo credit: Venmo

Venmo has enhanced its business profiles offering to make it easier for local businesses to be discovered and serve customers. Although the new experience is currently piloting in Seattle, it will be rolled out across the U.S. in the coming months. New features include:

Discovery

Venmo users will be able to subscribe to local business profiles so they are notified when cash back deals are available. Once redeemed, customers can choose to share that purchase with friends in the Venmo feed. Businesses can improve their placement in the feed via in-app carousels, which will serve as a real-time marketing vehicle.

Promotions

Businesses can create promotions for customers at no up front cost. They will only pay for a given offer when they make a sale.

Profile Ranking Badges

Businesses can build trust and stand out from the competition with profile badges that showcase how they rank against other businesses in their area.

Business Insights

Business profile users will be able to dig into weekly insights on the number of views their business gets on Venmo, including the main feed, their business profile and anywhere promotions are pushed. Users also will be able to dig into revenue trends based on their visibility so they can improve and optimize their strategy.

Posted in: Acquisition & Retention Techniques , Brand & Business Planning , Commerce Channels & Trends , Customer Experience

Tags: business discovery , customer experience , small business growth , Venmo , Venmo business profile