Trade Associations Can Help Boost Your Small Business

February 14, 2013

Trade Associations Can Help Boost Your Small BusinessSmall business owners are always looking for a competitive edge in the marketplace. For many, trade associations may be just the ticket because they offer many benefits to their members that are not available elsewhere — and they are often free or low cost!

Trade associations (sometimes called industry trade groups, business associations or sector associations) offer businesses involved in a given industry the opportunity to interact on a various levels and to the mutual benefit of all involved parties. The organization strives to enhance the public image of a particular industry and gives its members more political clout than they could muster individually. [Read more...]

Theme Parks Enhance the Customer Experience by Incorporating Cutting-Edge Technology

February 13, 2013

Theme Parks Enhance the Customer Experience by Incorporating Cutting-Edge Technology Payment wristbands using RFID (radio-frequency identification) technology are components of new contactless-payment solutions being tried in some of America’s biggest theme parks. RFID employs a wireless non-contact system that uses radio-frequency electromagnetic fields to transfer data from a tag attached to an object (such as a wristband), for the purposes of automatic identification and tracking.

In 2012, Hersheypark made an effort to allow their guests to keep their hands free during visits with RFID-enabled wristbands. Each wristband’s tag was encoded with a unique ID number and when tapped against a reader would offer visitors access to a specific unused locker to store their personal effects. [Read more...]

Identify and Avoid Spam to Help Protect Personal and Sensitive Data

February 12, 2013

Identify and Avoid SpamSpam is defined as unwanted online communication or unsolicited email. Spam that tries to sell you something is annoying — but spam that includes viruses or malware can cause your device to crash or be used to monitor and control your online activity.

Scammers use malware and phishing techniques to acquire your sensitive information — putting you at risk of identity theft and fraud. As an individual your money may be stolen and fraudulent accounts could be opened in your name. As a business owner, a security breach can have devastating financial consequences, destroy your credibility and potentially put you out of business. [Read more...]

Deal-of-the-Day Websites: Can They Work for Your Business?

February 11, 2013

Deal-of-the-Day WebsitesDeal or no deal?

That is the question many small business owners need to ask themselves when considering their participation in a deal-of-the-day website.

Can sites like Groupon, LivingSocial, Google Offers and Yipit really pay off for your business, or are they hit-and-a-miss marketing opportunities that you should avoid? [Read more...]

Gift Cards Have Benefits for Small Businesses

February 8, 2013

Gift Cards Have Benefits for Small BusinessesGift cards are everywhere these days, and it seems like everyone is buying them, using them, gifting them or asking for them. They’re not just for holiday giving anymore, and they’re not the sole domain of Big Box stores and retail chains.

If you own a small business and you’re NOT dealing in gift cards, you’re missing out big time! According to the National Retail Federation’s 2012 holiday consumer spending survey conducted in November of last year, 81 percent of shoppers planned to purchase at least one gift card and to spend an average of $156.86 on them. That’s the highest amount in the survey’s 10-year history.

The NRF predicted that total spending on gift cards would reach $28.79 billion.Consumers like gift cards for a variety of reasons.

“Savvy shoppers know they can purchase a much appreciated gift card with ease either in store, online or through their mobile device, and give their loved ones the option to buy something they really want or need,” noted NRF President and CEO Matthew Shay in a prepared statement announcing the survey results.

Gift cards offer many benefits for the merchants who sell and process them, too. They’re an excellent way to meet the expectations of loyal customers and attract new customers as well. Whether you run a retail operation or provide specialized services, gift cards customized with your company name can be a relatively inexpensive way to market your business that can more than pay for itself over time in increased sales revenue.

Some benefits of offering gift cards to your customers include:

  • Expanding your offerings at minimal expense. Chances are you already accept credit cards, so adding gift cards to your repertoire couldn’t be easier since you process them using the same hardware and software solutions you use for credit and debit cards.
  • Increasing your brand awareness. Custom-designed gift cards — like those offered by Merchant Express® through our alliance with a leading provider of gift card services — feature your company logo, name and any other marketing information you choose to include. Cards purchased as gifts can serve as an introduction to your business for their recipients, particularly if they weren’t previously familiar with your products and services.
  • Improving sales. Not only do gift cards generate more sales by encouraging new and loyal customers to “cash” them in by shopping with you, but it’s been demonstrated that shoppers using the cards often spend more than their face value. This “uplift” is additional profit for you, and the customer leaves believing they received real value for their money, making them more likely to return in the future.
  • Additional profit from unspent balances. Close to half of all gift card recipients fail to spend the full amount on their cards. This partial redemption phenomenon, known in the industry as “breakage”, amounts to billions of dollars of pure profit every year for the merchants who sold those cards.
  • Repeat customers. Some merchants issue store credit on their gift cards, which ensures the customer will return and spend. It also limits their exposure on fraudulent returns.

When you’re ready to get serious about gift cards, talk to a Merchant Express representative to get the details about our gift and loyalty card programs.