Every decision matters, especially when you are a small business owner. Who to hire, what marketing strategy to deploy, what location to choose to name a few, all have an important impact on your potential for future success. You want to maximize your chances of making a profit so you can build a thriving business. But even with the perfect location, great website, trendy Facebook page etc. in place are you truly ready to maximize the chances of making sales?
If you want increased profit then you really need a gift card program. Getting a gift card program is in fact instant and easy. If you do not know this then you may be missing out on the substantial business that gift cards generate.
With mobile payments, Apple Pay and Bitcoin being hot topics of discussion both online and offline, the present and future of payments is getting ever more attention and interest. The global payments industry is one that is innovating, evolving and adapting at a rapid pace.
Here we go through the top payment industry trends for 2015 so far.
All business owners alike need to know the latest technology, business developments, and trends to make the best decisions for their businesses.
Keeping ahead of industry changes and developments is a smart move as it also keeps you ahead of your competitors.
Now the latest change to watch out for is in regards to your POS.
As you may already know your POS is at the heart of your business, where the sales are and at the point of customer contact.
But now you should see your POS as more than a piece of hardware at the till or a limited-capability app on an un-secure tablet.
Instead for maximum profitability and operational efficiency you should see your POS as a platform, one which works seamlessly to get you the information and capabilities that really matter. Think of your POS as a platform of different applications and components working together to grow your business.
The threat to credit card and other information stored on a POS is always present and always evolving.
Know that your POS is an especially attractive target for cyber thieves. Stolen credit card info has a limited shelf life as credit card companies quickly identify suspicious spending. As such, thieves are always on the lookout for new numbers and a POS is an optimal place for them to mine.
In fact a 2015 report stated that the estimated financial loss from 700 million compromised records was $400 million.
The next business hit by a POS malware could very likely be yours. Don't think you are immune — small, medium and large businesses have all been targeted in the past.
For large businesses there is a huge loss of reputation and loss of sales, while many small businesses do not recover from the cost of this type of hack and can even go out of business. Remember that it's a business owner’s responsibility to ensure that they provide their customers with a secure shopping environment.
Social media and how users interact with it is always in a state of flux. It can be hard for businesses, whether big or small, to keep up with the latest developments and trends in regards to B2C social media.
You want to use social media to reach your customers and consumers in general and get your message out there effectively. And your instinct is not wrong.
In 2015, 46% of web users look towards social media when making a purchase. Also note that 3 in 5 small to medium businesses say they have acquired new customers via social media. Big businesses are also trying to reap the benefits of big business marketing. For example 83.8% of big luxury brands have a presence on Pinterest. Marketers are firm believers in the power of social with 70% of business-to-consumer marketers revealing they have acquired customers through Facebook.
All this points to how social media brings in new customers and sales. Here we go over the major B2C social media trends which have emerged so far in 2015.