If you want to successfully launch a product, one of the most important things you can do is to make buying it as easy as humanly possible.
So advises Mark Nelsen, Chief Consumer Product Officer at Visa. Over the course of his career working with consumer cards, digital wallets, and token and checkout solutions, Nelsen says that never before has ease of payment been such a deciding factor for small business growth.
Related: 5 Strategies to Make Your Next Product Launch a Success
Here are his insights into how streamlining your selling process boosts not only your sales figures but also your confidence as a business owner.
How has the landscape for startups and small business launches changed in the last few years?
The payments landscape is significantly shifting and we’re now seeing businesses of all sizes, including small businesses and even micro-sellers, having access to the same digital tools that the world’s largest retailers use, like our Tap to Phone technology. And we’re seeing more confident small business owners as a result.
What do you mean by “confident”?
Confidence comes from three things. One is that the new tools are more seamless, which creates operational pride. Two, new tech helps identify risk and reduce fraud, giving emerging companies the confidence that the mechanics are taken care of — consumers typically view app-based digital payments as more secure than any other payment method. And three, even just that ability to talk confidently about security and authorization rates further boosts the confidence of a small business — we’re seeing that security is a domain small businesses realize has an outsized impact on them.
Related: The Role of PR in Successful Product Launches
What else can entrepreneurs do to ensure a strong product launch and customer loyalty?
With each product launch, aim to enhance your readiness for the next one. Experiment with new marketing approaches or tools each time and set realistic KPIs to train your “launch intuition.” Consider which channels will drive the highest engagement, which regions will see significant adoption, and which messages or features will generate the most conversation.
Product success also relies on education. This includes properly training employees who will be using the product with videos, training guides, step-by-step walkthroughs, and educating consumers about why the product is essential. Engaging with customers post-launch is crucial. Ask your customers for feedback. Show your interest in their experience and incorporate that into how you talk about your products.
What are some baby steps entrepreneurs can take to use AI to make smarter decisions?
Baby steps for entrepreneurs and their businesses begin with learning and experimenting and encouraging your teams to do the same. We encourage all of our employees from every department to experiment with the technology. You’re never too small or big for a hackathon. Our recent AI Hackathons have received submissions from thousands of employees across the company. And when hiring for the full range of roles and exploring partnerships, it’s critical to look for talent who embrace innovation and are already exploring the AI universe. A lack of specialized talent and expertise could slow down the development and deployment of gen AI solutions as they make their way through all the different functions.
What are the signs that it is time to scale, and what are the signs that you are trying to grow too quickly?
For any growing company, your North Star has to be smooth customer offering and experience — you never want to sacrifice this — and then you want to ensure that you’re always onramping new elements of scale with proper time to integrate in such a way that the transition isn’t visible to the customer. We see this every day in payments — a smooth payment experience is core to customer satisfaction. Make sure your level of technology infrastructure can support your team and vice versa.
What areas/industries are seeing the most growth in 2025?
Global e-commerce is flying in the retail sector. Retail, hospitality, services, and events are buzzing. We believe creators are the next generation of small businesses — they are massively powering the digital economy.
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