How can the human body run without sustenance? Well, it cannot run for long!
That goes for your business as well, how long can it live for without sustenance in the form of customers, business transactions, and money. You need customers to come to your business, purchase your goods and then use that money to run your business so that you may break even.
If your business doesn’t have custom, or money coming in – it can be hard to budget for the future and eventually, the business might close down. You must promote your brand to get people in the door and buying your goods.
When they are in the store, there’s one thing you should be offering them above all: options.
Choice is an amazing thing, and we like to have choice in our lives. We enjoy choosing how to live, what to watch, when to eat. If you restrict your customers, then they may get frustrated depending on where their choices are limited. Today, we are going to focus on ways your customers can pay for your goods. Offering more ways to pay? It’s going to lead to more money in your bank accounts. Customers need options when they pay – if all their money is on a card and you don’t accept cards, then you’re bang out of luck.
But you could have prepared for that!
If you can offer card payment facilities, contactless options for NFC cards as well as Apple Pay and Android Pay you’ll be doing well. If you can extend that and offer PayPal, Bitcoin and Wepay payment options in store, you’ll be doing even better. That’s an abundance of choice and while you might not see them get used as much as cash (especially in the case of Bitcoin) you’re still giving people the option.
All of the above methods should be integrated into your online store with ease (apart from the physical methods) and will secure more sales for you. People prefer paying with options like PayPal as it is easier for them to part with their money for your goods. Just make sure you have web security so these transactions can be carried out safely.
You can go a step further and offer two more payment options. It does depend on the type of product you’re offering. Subscriptions are a great deal for recurring customers and can make shipping a lot easier as it’s a recurring order for as long as the subscription between the customer, and you is paid monthly (or whenever) through a direct debit. It makes life a lot easier for all parties involved and you might even look to throw a discount towards your customer as a loyalty option. If you are selling products that are more expensive, you might look towards offering financing plans with something like the Vyze platform. Some people might not be able to afford your products there and then – or might just prefer to pay in increments. Give them the choice.
The more payment options you offer to your customers, the more ways they have to pay! The more payment you get – the more money that will come in!