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Covid-19 Solutions - How to Save and Thrive in a Down Economy

Many small businesses are concerned about how to make it through this pandemic. National Processing has a few ideas about best practices that can give them a thriving boost.

Building Consumer Trust

Business in the post-COVID world will thrive by building on a foundation of consumer trust. This has always been important in business, but the pandemic has required greater degrees of transparency with health concerns and supply chain shakeups. Consumers have looked favorably on businesses that have shown a genuine interest in their customer base. Having a credit card processing company that provides secure payment processing solutions is a key component of trust-building, especially in online retail.

Excellent Customer Experience

Customer experience will also be a huge factor in terms of emerging successfully into the post-COVID world. Many small business owners have typically focused on their brick and mortar operation and ignored their look online, especially if they run a food-related business. But businesses emerging from the pandemic will need to provide a solid customer experience on their website and social media channels. Part of this positive customer experience is creating good mobile sites, as mobile usage and mCommerce is the fastest growing area within eCommerce—whether customers are buying clothes or ordering pizza.

Cash Discounts for Online Customers

eCommerce has steadily been eating up a greater share of retail revenue year after year, but the COVD-19 crisis has really given the online economy a huge boost. This is a great opportunity for any small business to revamp their business strategies and tap into a broader market, especially if they have previously been reluctant to sell online. Part of their marketing and customer loyalty strategy can derive from a cash discount option, which will give them a competitive edge against other online retailers—especially if those other retailers have higher prices to cover interchange fees.

These points are important for sales agents to discuss with businesses as part of a broader conversation on how to emerge successfully from COVID-19. Many business owners will be concerned about how to thrive through the pandemic and beyond, and these concerns might be expressed in a dialogue about their current business practices. But as you can see, there are a few simple tips they can leverage to move forward and build a solid connection with their customer base, one of which involves a solid payments partner like National Processing.

If you’d like to learn more about payment processing solutions that National Processing offers to support you customers, please contact us at partner@nationalprocessing.com.

Posted in Cash Discount, online payment processing, Online Payment Solutions on Aug 21, 2020