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The small business community is always faced with challenges, but many of the most successful ones have found ways to stay flexible and adapt to an ever-changing marketplace.
PHOENIX, AZ, January 02, 2014 /24-7PressRelease/ -- Capital Processing Network, a nationwide credit card processor, today announced a list of small business success tips for 2014. The list is based on input from several of the company's ten thousand-plus customers. The Phoenix-based company maintains its own customer support department and also works one-on-one with clients to reduce the cost of electronic transaction processing.
"Because we have representatives all over the country, we are able to see firsthand what works for our clients," said Patrick Hare, Digital Marketing Manager at Capital Processing Network. "The small business community is always faced with challenges, but many of the most successful ones have found ways to stay flexible and adapt to an ever-changing marketplace."
Some recommendations from out in the field include:
- Update Your Local Search Engine Listing - Google, Bing, and Yahoo all make it possible to "claim" your business description on map results, which often are prominent when people search for nearby companies and services. You can dress up your listing with pictures, store hours, and a more accurate description of your company's offerings. If your business isn't properly listed, location-based services for tablets and smartphones might not suggest your company when customers are in the neighborhood.
- Cut Costs Everywhere - Thrifty business owners know how to create a culture of savings by showing how small costs add up fast. By training employees to take a second look at even the tiniest expenses, companies are able to pad profit margins year-after-year. In the field of credit card processing, shaving a few tenths of a percentage point, and a few pennies, off the cost of each transaction may create thousands of dollars in annual savings.
- Get on Social Media - It may be strange to suggest this in 2014, but older small business owners often don't understand the appeal of (or need for) profiles on Facebook, LinkedIn, Twitter, and Foursquare. Younger consumers with disposable income may miss out on your business if you aren't present in these channels. Aside from creating visibility, social media may be used to resolve customer complaints and demonstrate commitment to good service. A company may garner a lot of negative publicity if it appears to be unresponsive on social channels.
- Prompt Customers to Enter PIN Numbers - In 2013, checking account card and prepaid debit usage surged among consumers, but many SMBs still swipe all cards as "credit." If your credit card machine has a PIN pad accessory, you can realize big savings on many transactions. Credit card swipe costs are measured in percentages, while debit card authorizations often cost pennies when PIN data is entered.
- Get More Attention - Sometimes the simplest things drive sales. One local oil change shop has an employee spin a sign outside the store when service bays are open. Many organizations we work with sponsor charity events, or give talks at local chamber of commerce meetings. Asking satisfied customers to give positive reviews on sites like Yelp and Angieslist can create "word of mouth" credibility online. Getting into the habit of self-promotion costs almost nothing, and creates interest and goodwill.
"Some of the most resilient small businesses thrive because their owners know how to run a tight ship and grow a good base of customers," said Hare. "While our focus naturally gravitates toward payment processing, we have a vested interest in the success of our small business customers. By sharing these tips, we hope that more small companies everywhere will have a positive experience in 2014."
Capital Processing Network is a merchant services provider with US based in-house support. The company offers a full range of services including credit card processing, credit card terminal leasing, credit card tokenization, and solutions such as gift cards and payment gateways. Capital Processing Network has representatives in major cities nationwide. For more information please call 1-877-456-9747 or visit http://www.capitalprocessingnetwork.com.
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