Enhance Your Credit Card Processing Service With Social Media

Social media is constantly growing, changing and becoming a larger part of how people and companies interact with one another. It’s a way for businesses to really get to know and understand their consumers and how they can help give them the best experience possible. When it comes to merchant service providers, it’s important to build that relationship with business owners and show them you can provide reliable small business credit card processing. A recent report from the Nielsen Company found a few promising statistics about the use of social media.

 

• About 4 out of every 5 active Internet users frequently visit blogs and social media websites.

 

• 23% of the total time Americans spend online is spent visiting these sites. 

 

• Approximately 40% of social media users gain access via their mobile phones.

 

• Accessing social media via the mobile phone is rapidly growing for those ages 55 and up.

 

Because social media is becoming a larger part of American culture, it’s important that companies offering credit card processing services have an online presence, where their merchants are located. The majority of customers want to know that they are being heard and can rely on companies to respond to their concerns and offer more information about their services and small business credit card processing in general.  

 

Although it’s important to provide small businesses with information about your credit card processing service, it’s also necessary to not overwhelm consumers with only facts and product information. Here are two great tips to using social media to enhance your small business credit card processing company. 

 

1. Keep it Conversational

 

Don’t always be trying to hard sell your products and services to everyone you reach online. Instead, try listening to consumers about what they especially like and dislike about your services. Think of it as a way to build relationships and loyalty, rather than just push product information. 

 

 2. Share Good Content

 

Social media has completely transformed the way that people are sharing information, however it hasn’t quite changed what people are sharing. People are still sharing things that are “awesome”, or in this case, information that is useful and relevant to your specific audience. If you publish content that is meaningful to your consumers, it is more likely that they will share with their friends, start to trust your company and look at other services you offer. 

 

When used correctly, social media can be an important tool in enhancing small business credit card processing companies by helping to foster relationships with merchants. The fact is, people are using social media every day and it’s important to be available to answer questions from your customers and provide useful information in a more conversational online atmosphere. It’s time to spread the word about your credit card processing service.

 

About The Author

As Vice President of Business Development, Kate Root is focused on helping Clearent expand its strategic ISO partnerships, as well as growing financial institutions’ merchant services programs. Kate’s 25 years in merchant services spans senior management roles in both issuing and acquiring, supporting financial institutions and ISOs. It is our mission to build trust-based working relationships with our merchants through our credit card processing service. Learn how our interactive online reporting tools can benefit small business credit card processing. 

 

New Goals for Your Credit Card Processing Service

As we embark on another year, New Year’s resolutions are in full swing for consumers, as well as companies, everywhere. Now is a better time than ever to evaluate your previous successes and areas for improvement within your credit card processing service.

When re-evaluating your business in preparation for a new year, it’s important to stay completely focused. Coming up with a generic statement or goal won’t be of much use to you. Try to think of specific areas that need improvement and come up with a few very specific and realistic goals for the future. Both large and small business credit card processing companies can only improve if objectives are set in place.

This is especially true in the world of payments. In order to identify true success and failure, it takes a detailed analysis of those factors that will directly impact your income. It’s best to think specifically in terms of ROI. Ask yourself if you made the returns you expected to make from your merchants.

When returns are less than you expected, it boils down to two main reasons: The actions taken by your credit card processing company and your own actions. Here are a few areas to evaluate so you can get your credit card processing service back on the path to success.

First review your profitability by merchant and identify those who are adding modest profits to your bottom line. Now think about why you priced those merchants they way you did. There may be an obvious reason why they’re underpriced. For example, perhaps you anticipated the merchant processing a lot more volume, and that’s unfortunately not the case. If so, take steps toward success by adjusting the merchant’s pricing.

Next analyze your credit card processing company and keep in mind the actions of your credit card processor as they may be impacting your returns. Examine these items with your current small business credit card processing partner.

1.    Review your pricing specifics

Your pricing may not actually be as good as you thought at the beginning. Fees may be starting to stack-up, there might be higher monthly costs than you imagined or lower splits. It’s good to get a firm grip on the financials as you move forward into a new year.

2.    Make sure you’re getting the support you need

Your credit card processor is your partner and they should be acting like one. They should be available to provide support and guidance that sufficiently meets your needs.

Remember, it’s never too late to dig into these areas. After all, you just might find that you’ll be on your way to a more profitable 2012.

About The Author

Nick Karcher is a Relationship Manager who supports both current bank partners as well as those institutions that want to know what makes Clearent a different kind of payment processor. Offering some of the best credit card processing services, Clearent provides the kind of passionate service that others can’t. With an abundance of technology at our disposal, we offer small business credit card processing solutions that can provide clients with the necessary tools to really make a difference.