Here in the mid-west, the temperatures are starting to cool and the leaves are beginning to show their colors. It’s a time of transition that is welcomed by some and others simply dread what is to come. It’s also a time of year when merchants tend to see a bit of a slowdown in their business because it’s one of those in-between times of year. It’s been my experience over the years that it is a time that merchants, whether restaurant or retailer, tend to have a bit more time on their hands to do some analyzing. How can I reduce my costs, spruce up the business or find new ways to generate more sales. Let’s talk a bit about those ideas.
First, let’s address reducing costs. Well, you could let a few employees go but that means you just have to work more…probably not your best alternative. How about turning off some of the lights to reduce the electric bill? Nah, not a good plan either as I’m sure you’ll agree. One area in which you could probably find some savings that could add up to thousands a year, is in your credit card processing services. If you’re like the majority of merchants I have worked with over the years, it’s not one of the most pleasant tasks for you to consider. When you open up your merchant services statement (if you bother to open them at all), do you even understand all your fees? But, nonetheless, this is a worthy endeavor, especially if you can find someone ( like me…) that is truly interested in educating and building long-term relationships. Now is an excellent time of the year to approach this subject because it’s one of two times each year that Visa and MasterCard, make adjustments to Interchange Rates. April and October are the traditional months for these “adjustments” to take place. And, many processors out there use it as an ideal time to pass on “increases” to their merchants for their own increased profitability. So, what I’m saying here is that now is the time to be really aware. I’m frequently amazed at merchants that are still on a tiered pricing model or are being charged on a “bill-back” type format. And, many that I assist are still paying way too much for debit transactions (you’re processor loves you for this). All of my contact information is available on this site if you desire to have me take a look at one of your statements….no obligation of course.
Now, in the original paragraph of this article, I referenced reducing costs, sprucing up the business or finding ways to increase sales. We’ve already spoken briefly about reducing costs. As for sprucing up the business, well, let’s just say you’re on your own there because I’m not going to be of any help to you there. But, increasing sales is an area that I think I can be of some assistance. You see, I work with all kinds of merchants and I am privileged to see how they do things. Some things that work really well and then again, things that don’t work well for increasing sales. I’m not going to go into great detail here but let me simply say, if you’re not doing anything to capture customers email addresses or utilizing SMS text messaging and having customers opt-in for future marketing…..THEN YOU’RE MISSING THE BOAT. I’ve seen businesses literally transformed by their increased sales as a result of this “direct marketing” to drive sales in comparison to “splash” type marketing in print or other media formats. Really, if you can start to utilize an auto-responder or a SMS text marketing platform, you’ll be amazed at how simple it can be and how sales will rise. Give me a call or shoot me an email and let’s talk before your competition makes the move.
Well, that’s it for now. Guess it’s time to take the dogs for a walk and enjoy the great fall air….before the snow starts to fly.
