The most obvious reason why your company should accept credit cards is that it will increase sales. If a customer doesn’t have cash or checks handy, he or she won’t be able to make a purchase no matter how badly he or she wants your product or service. By accepting credit cards, you give your customer more flexibility to buy on that person’s terms and are more likely to drive more sales and make more money.
Do Business From Anywhere
If you run a small business, accepting credit cards means that you can do business from wherever you happen to be. For instance, you can attach a card reader to your phone or tablet and sell products on the sidewalk or at a booth by the beach. You could also take orders online or allow customers to checkout from wherever they are in your retail establishment. Customers love not having to stand in line, so allowing them to find a salesperson and cash out where they happen to be is a winner from a customer service standpoint.
Get More Information About Your Customers
You can get a lot of information about your customers by getting them to pay by credit card. For instance, you get names, email and home addresses and phone numbers just by getting a customer to swipe his or her credit card into your point of sale system. This information may be used in future email, direct mail or phone marketing campaigns to target your most loyal customers or those who spent the most money with your company.
It can also be used to provide targeted coupons or special offers to those who are most likely to use them, which can drive sales while also creating a stronger bond between your brand and its target audience. In the event of a recall, you can contact individuals who have bought products that are involved in that recall. This allows them to return contaminated food or medical supplies before they get sick or get others in their families sick.
If your company is not accepting credit cards, it should do so as soon as possible. While you may be concerned about credit card processing fees, they are more than negated by the extra sales as well as the increased customer satisfaction with your brand. For more info, visit the resources at Collective Point of Sale Solutions.