5 Tools Every Merchant Should Be Using
As a merchant, you want to take advantage of different tools, systems, and technologies as a means of staying competitive. After all, the merchants that consumers choose to do business with depends on the overall buying experience.
Five Critical Tools
- Loyalty Program—The reality is that without customers, you have no business. To gain loyal customers who gladly tell others about your store, you need to offer a seamless transaction and high level of professionalism. However, to ensure ongoing satisfaction, consider some type of loyalty program in the form of a monthly drawing, promotional give-away, or punching a card with each purchase for an ultimate discount.
- Gift Cards—Another tool that you need as a merchant is a gift card for the products and/or services sold. When a customer purchases one of your store’s gift cards and passes it on, you are almost guaranteed a new customer. Typically, people who redeem gift cards spend more than the card’s monetary value, so this is a great way to make money while also allowing you to highlight what you sell.
- Financial Software—Regardless of the caliber of products and/or services that you sell or the level of professionalism provided to customers, if you don’t you have your finances in order, it becomes challenging to succeed. You have a choice of many affordable software programs and professional services for keeping track of inventory, logging sales, making payroll, and running critical reports.
- Credit Card Processing—In addition to customers paying for purchases in person, be sure you offer mobile credit card processing as well. An increasing number of people prefer mobile payment options, especially with the launch of EMV. Whether selling products and/or services at a brick and mortar store or through a website, you need a credit card processor that makes mobile payments easy, convenient, and safe.
- Check Payment Services—Although most consumers use debit and credit cards, some still prefer to write paper checks. Therefore, along with credit card processing, be sure to provide your customers with check processing services. You can have the system set up to electronically deposit checks into your bank account. Accepting checks makes the customer happy, and going through a reputable processing company means you have protection against bad checks drawn on accounts with insufficient funds or those used fraudulently.
Getting Professional Assistance
While you have a number of viable options when it comes to credit card processing and check payments, one company stands out. Chosen Payments is far more than a credit card processor. This company offers years of experience and a high level of expertise in marketing, merchant cash advance and loans, e-commerce integration, and more. In fact, Chosen Payments is an excellent choice when setting up mobile payments and customer loyalty programs.