Innovative E-commerce Upgrade Program Allows Magento 1 Operators to Upgrade to the Magento 2 Commerce Cloud Platform With No Upfront Capital Expenditure
NEW YORK, September 6, 2019 (Newswire.com) –McFadyen Digital, a leading global e-commerce agency with over 20 years of experience, and Clearbanc, the fastest, most affordable way for founders to fund their business, have announced an innovative new funding option for the Magento 1 e-commerce platform. Operators who are seeking to migrate to Magento’s newest offering, Magento 2 Commerce Cloud, are now able to receive a preferred rate to fund their shift to the updated site.
This initiative, dubbed the M2-FOR-$0 (M2 for Zero) program, enables these online merchants to upgrade from their current Magento 1 platform, which is no longer officially supported after June of 2020, without tying up capital by paying for the migration project. Instead, Clearbanc offers funding to upgrade the site, then operators pay back the cost of the migration while the new site earns increased profits. With the average Magento 2 upgrade resulting in up to 39% growth in conversion and a 10% higher average order value, the upgrade process is a much safer bet.
McFadyen Digital, a recent winner of the Magento Imagine Excellence Award for Most Innovative Customer Experience for The Albertsons Marketplace, handles the technology and e-commerce strategy piece of the program. With pre-written, pre-defined migration project scopes, the upgrade process is greatly accelerated as those stock specs are customized to meet each merchant’s needs. Built-in accelerators for catalog migration, image migration, data migration, and extension analysis further hasten the process. With User Experience options ranging from stock templates to headless content management or progressive web applications, the guts of the site aren’t the only thing that received an upgrade.
“A funding program like M2-FOR-$0 is completely aligned with our mission to level the playing field for entrepreneurs, especially modern e-commerce companies,” says Andrew D’Souza, CEO and Co-Founder of Clearbanc. “Clearbanc has invested in 1,000+ companies this year using data science to identify high-growth funding opportunities, and this program allows any Magento 1 operator leveraging Clearbanc to elevate their technology and customer experience and, ultimately, grow faster.”
In addition to financing the Magento 1 to Magento 2 upgrade, this program allows site operators to finance the digital marketing services and digital advertisements necessary to supercharge their new Magento 2 site’s growth. With optional inclusions, such as email marketing services and technology implementations, social media management and advertising, SEO, or search advertising, the financing can include both the services to power those customer engagement measures and purchase the necessary advertising.
“We teamed up with Clearbanc on the M2-FOR-$0 program because we see this need in the market every day,” said Thomas Gaydos, CMO and Marketing Practice Lead of McFadyen Digital. “The combination of a Magento 2 upgrade along with a proper investment in digital growth marketing is the perfect combination to rapidly and reliably scale profits. This program allows site operators to improve their customer’s online shopping experience, then drive more shoppers to that experience. We’re looking forward to seeing how many merchants this can help.”
About McFadyen Digital
McFadyen Digital is a global commerce agency focused on delivering award-winning e-commerce and online marketplace strategies, technologies and ongoing innovation. For over 30 years, our clients have sought to delight their customers with innovative digital experiences that drive revenue. We deliver those results on-time and on-budget from our offices in North America, Brazil and India.
About Clearbanc (A Magento Technology Partner)
Clearbanc is the fastest, most affordable way for founders to fund their business. Clearbanc invests $10K-$10M in thousands of companies using data science to identify high-growth funding opportunities in less than 24 hours. This data-driven approach takes the bias out of decision making and helped Clearbanc fund 8x more female founders than traditional VCs and invest in companies in 43 states this year. Clearbanc’s portfolio spans small businesses across the United States, Canada, and the U.K. to some of the fastest-growing consumer brands today, like Le Tote, Leesa Sleep andPublic Goods.
Founded in 2015 by Michele Romanow of CBC’s “Dragons’ Den” (Canada’s “Shark Tank”), Andrew D’Souza, Ivan Gritsiniak, Charlie Feng, and Tanay Delima, Clearbanc is headquartered in Toronto, Canada. The company has raised $420 million to date and investors include Highland Capital, Emergence, Founder’s Fund, and Inovia.
Chief Marketing Officer, McFadyen Digital
Head of Communications, Clearbanc