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ARTICLES

4 Tips for Significant Business Growth within the Year
4 Ways to Speed Up Payments in Your Business
Why is it Vital for New Businesses to Have Multiple Payment Channels?
5 Reasons Why Accepting Credit Cards Helps Businesses Flourish In 2018 and Beyond
Here’s Why Your Company Should Accept Credit Card Payments

4 Tips for Significant Business Growth within the Year


In today’s slow-growth and lackluster economy, most business owners find it incredibly hard to expand their business and achieve growth. Sustainable growth is indeed one of the biggest challenges business owners face today, but the problem can be catered with the right strategy.

Even through circumstances have changed, the fundamentals of business growth are still the same. For those business owners who wish to achieve significant growth this year, we’ve compiled a few most important tips that’ll map the roadway to success.

1. Establish an Online Presence
In the electronic era of today, most people prefer using the internet to search for products and services. Ignoring the online platform for business is like saying, “I do not want to grow my business”. Most business owners think that a website with cool graphics, text and contact information is enough for online presence, but that’s not true. Now, you must sell your products and services through the internet, if you wish to achieve growth as many people are now shopping through online platforms.

2. Offer Multiple Payment Options
Many small businesses fail to provide multiple payment options which not only lead to dissatisfaction of customers, but also affect their overall sales.  For example, if your business doesn’t accept credit cards and only takes cash, you’ll drive away all those customers who prefer using credit cards for purchase.

When you’ll offer multiple payments options, customers will be more interested in buying from your business and your sales will increase. More sales mean more growth. If you’re not offering multiple payments options, start by first enabling your business to accept credit cards as many Americans prefer plastic money for purchases. For assistance in setting up merchant account for credit cards, contact Empire NAB or visit www.MerchantAccountSaver.com.

3. Advertise
Arguably the most important tool you’ll need for significant growth this year is advertising. Your business won’t grow if you are unable to draw in customers and increase your sales and that can only be done through properly advertising your business.

Online advertisement is the right way to go these days and if you haven’t been using online platforms for advertisement until now, it’s time to get started. Set up social media accounts for your business on active platforms like Twitter, Facebook and Instagram. List your business on Google as it is a great way to attract local customers. Ask your loyal customers to give you positive reviews on the online platforms as it will help in attracting more customers.

Brush up your online advertisement techniques and see what works best. Once you’re in the game, you’ll be to attract more customers to your business, increase sales and achieve growth.

4. Leverage Technology
It’s 2018 and many successful businesses are leveraging the latest technology to optimize their operations and achieve growth. So, what’s stopping you? Transform your business operations with latest software, chatbots and artificial intelligence. When you’ll leverage technology, you’ll be to optimize your operations to increase profits which you can then invest in growing your business.

These tips are simply to follow, but their effect on the growth of your business can be endless. So, don’t wait anymore! Start concentrating on these fundamentals and you’ll surely see significant growth over the next twelve months.

 

4 Ways to Speed Up Payments in Your Business


Whether you’re starting a new business or have an already established business, cash flow is extremely important. Getting your clients to pay for services rendered is not just about increasing profits; revenue from the clients is what allows you to pay vendors, make payrolls and keep the fans running.

Failure to collect payments on time can disrupt all of the above mentioned activities and limit your business’s flexibility to expand production, hire new employees and increase advertising activities. However, there are certain ways to speed up the process of payments and keep the cash rolling. We’ll enunciate four ways you can ensure prompt payments by clients.

1. Expand Options of Payment
In the business environment, every cent counts and if you fail to provide multiple payment options to clients, you’ll lose your sale and valuable revenue. Some businesses only accept cash for payments which makes it hard for customers to make a purchase as many Americans now prefer credit cards for buying products or paying for services.

Although when you accept credit cards payments, you need a merchant account and pay the processing fee, but it will provide more flexibility to your customers and decrease the time for billing and receiving payments. In front of all the benefits, the processing value holds little importance. Additionally, credit card processing through a merchant service provider allows you to hold record of customers and you can bill them each time they avail your services.

Once you’ve set up your business to accept credit cards, you should consider other options of payment, such as personal checks, PayPal, mobile payments and money orders.

2. Up-Front Payments
Another effective way to manage payments of customers and decrease the payment time is by demanding customers to pay up front, before services are rendered. Receiving payment before providing services to clients ensures that you get all the payments on time and there is no bailing out.

3.   Communicate with Customers
Make sure that customers are aware of what you’re charging for your services. If the bill is exactly what they expect, they’ll pay without a second thought. However, if it comes as a shock to them, they’ll procrastinate and your cash flow will suffer.

Create a contract with the client that clearly states the price, schedule of service and payment terms. This way you’ll have evidence and clients won’t be able to claim that they were not aware of the charges.

4. Deal with Late Payers
No matter how many payment options you provide and how much you improve your systems to facilitate payments, some customers will still not willingly pay on time. To address the issue of delinquent payments, consider establishing a system that rewards early payments and penalizes late payments.

For instance, if customers pay full on time, consider giving them discount for rendering your services in future. Conversely, charge those who fail to pay on time with late fees. This way you’ll be able to minimize late payments.

Now don’t hold your business from growth because of an inefficient cash flow, start working on these tips and see how you’ll get the results and improve your cash flow for significant growth.

 

Why is it Vital for New Businesses to Have Multiple Payment Channels?



Whether you’re starting a new business or have an already established business, cash flow is extremely important. Getting your clients to pay for services rendered is not just about increasing profits; revenue from the clients is what allows you to pay vendors, make payrolls and keep the fans running.

Failure to collect payments on time can disrupt all of the above mentioned activities and limit your business’s flexibility to expand production, hire new employees and increase advertising activities. However, there are certain ways to speed up the process of payments and keep the cash rolling. We’ll enunciate four ways you can ensure prompt payments by clients.

1. Expand Options of Payment
In the business environment, every cent counts and if you fail to provide multiple payment options to clients, you’ll lose your sale and valuable revenue. Some businesses only accept cash for payments which makes it hard for customers to make a purchase as many Americans now prefer credit cards for buying products or paying for services.

Although when you accept credit cards payments, you need a merchant account and pay the processing fee, but it will provide more flexibility to your customers and decrease the time for billing and receiving payments. In front of all the benefits, the processing value holds little importance. Additionally, credit card processing through a merchant service provider allows you to hold record of customers and you can bill them each time they avail your services.

Once you’ve set up your business to accept credit cards, you should consider other options of payment, such as personal checks, PayPal, mobile payments and money orders.

2. Up-Front Payments
Another effective way to manage payments of customers and decrease the payment time is by demanding customers to pay up front, before services are rendered. Receiving payment before providing services to clients ensures that you get all the payments on time and there is no bailing out.

3.   Communicate with Customers
Make sure that customers are aware of what you’re charging for your services. If the bill is exactly what they expect, they’ll pay without a second thought. However, if it comes as a shock to them, they’ll procrastinate and your cash flow will suffer.

Create a contract with the client that clearly states the price, schedule of service and payment terms. This way you’ll have evidence and clients won’t be able to claim that they were not aware of the charges.

4. Deal with Late Payers
No matter how many payment options you provide and how much you improve your systems to facilitate payments, some customers will still not willingly pay on time. To address the issue of delinquent payments, consider establishing a system that rewards early payments and penalizes late payments.

For instance, if customers pay full on time, consider giving them discount for rendering your services in future. Conversely, charge those who fail to pay on time with late fees. This way you’ll be able to minimize late payments.

Now don’t hold your business from growth because of an inefficient cash flow, start working on these tips and see how you’ll get the results and improve your cash flow for significant growth.

 

5 Reasons Why Accepting Credit Cards Helps Businesses Flourish In 2018 and Beyond

Credit Cards

Many people who start a new business find it extremely hard to achieve lasting success due to limited resources and budgetary constraints. According to statistics of the U.S bank, one of the major reasons for 82 percent of failing businesses is that they adopt improper cash flow practices.

Sixty-six percent of American consumers today, prefer to make payments through credit cards. This means that if a particular business does not accept credit-card payments, it will definitely lose its sales and in turn lose the profits.

 Business can optimize cash flow by accepting credit cards. To further enunciate the importance of accepting credit cards, we’ll highlight five ways businesses can benefit by processing credit-cards.

1.     Decreasing Transaction Time
Most customers don’t prefer using cash to buy goods. A credit-card as a modern of payment cuts down the transaction time to seconds which makes it beneficial for not only the customer, but the merchant as well. Merchants can enhance customer service and reduce wait times which are important for customer satisfaction and uninterrupted cash flow.

2.     Increase Sales
Cash has a concrete value while credit cards provide flexibility. A survey shows that five out six Americans admit that they make impulse buys. Consumers spend about 12-18% more when they are using credit cards instead of cash. Merchants can boost sales by accepting credit cards as consumers feel more relaxed in making payments with credit cards.

Credit cards make online payments simple and businesses can easily sell their products online, allowing customers to purchase goods from anywhere, any time.

3.     Increase Security
Processing credit cards is more secure and quicker with merchant service providers. Tokenization and encryption keeps the data of the card and information of customer’s account protected. Moreover, merchants can process credit cards without worrying about hackers and fraudsters getting a hold of their confidential data.

4.     Growing Customer Market
When businesses only accept cash payments, it limits their reach to smaller markets. According to data from the Federal Reserve, seventy-two percent of consumers have a credit card. Accepting credit cards opens doors to more customers and allows businesses to access wider markets. Processing credit cards payments makes the business more credible. By simply displaying logos of credit cards on a website, businesses can build trust with their customers and encourage them to buy their products or avail their services.

5.     Save Money and Time
When businesses accept credit cards, it saves them money and time. Several merchant service providers have online gateways through which they can process all transactions virtually. Furthermore, some payment gateways integrate with accounting software for accelerating and simplifying the process of credit card payments. With payment software, merchants can electronically settle batches and receive funds within forty-eight hours. 

Even if you are on a shoestring budget, it is easy to set up to accept credit card payments. Simply visit www.MerchantAccountSaver.com for a simple step-by-step guide and set up to accept credit card payments. The live support will assist if you have any questions regarding credits cards. 

-By Mark B., 2018 

 



Here’s Why Your Company Should Accept Credit Card Payments

“Can I use my credit card to make the payment?”

As a small business owner, your reply to this question should never be a ‘no’. Set up your business to accept credit cards to ensure that you never disappoint your customers and lose a sale.


Why Accept Credit Card Payments?

Many small business owners don’t know the importance of accepting credit card payments. We’ll share the top six reasons why it is important for your business to accept credit card payments.

1.     You Won’t Lose Sales
The society has not gone cashless yet, but most people avoid carrying paper money now and prefer credit cards. In America, there are about 174 million adults who have at least one credit card.  Many Americans believe that soon, U.S will become a cashless society and all purchases will be made through credit cards. If your business doesn’t accept credit cards, you’ll lose out on all the sales from customers who only carry credit cards with them.

2.     Your Cash Flow will Improve
Credit card payments through a merchant service provider are secure and fast as within one-two business days, these payments are directly deposited to your account. This means you’ll have the money to reinvest in your growing business.

3.     Attracting More Customers
Customers prefer convenience. Imagine yourself in place of your customers; would you want to go to the ATM machine for withdrawing cash to make a purchase? Obviously not! If you can save your customers from that trip for cash withdrawal, you’ll not only make a good impression, but your business will become their first choice for all the convenience purchases (like a morning coffee).

By processing credit cards, you’re providing the best customer service, which means that your customers will always return and also tell others about your business.

4.     Customers will be Spending More
Studies show that when people use cards, they spend twelve to eighteen percent more than usual. Perhaps it is because of the fact that they don’t see the exchange of money, whatever the reason, it promotes impulse buying. This means when you’ll accept credit cards, your customers will make more purchases and spend more money.

5.     Building Trust
Accepting fast, integrated and secure credit card payments establishes legitimacy of your business. If you’re revealing the major credit cards you accept (be it MasterCard, American Express or Visa) it will foster trust as customers value these brands for their safe and secure transactions.

6.     Easy To Start
You might think that setting up credit card processing is costly and that processing fees charged by merchant service providers will come as a loss towards your business. But, that is not the case as credit card payments can be easily set up with assistance from Empire NAB and that transaction fee holds no value in front of all the benefits that’ll come from accepting credit cards.

Don’t hold the growth of your business by not accepting credit card payments.

It’s time to make a move and enable credit card payments on your business to reap the benefits of accepting plastic money. Visit www.MerchantAccountSaver.com now to set up your business to accept credit cards.


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