RESOURCES
PCI Compliance: It’s Required and We’re Here to Help
David McSweeney
May 2, 2013
PCI Compliance continues to raise questions for a large number of merchants across the U.S., especially smaller, independent merchants. Am I required to be in compliance with PCI DSS? How do I go about getting compliant or demonstrating that I am compliant? Is there a resource to help me achieve compliance? Who overseas compliance and what are the penalties for non-compliance? Last fall we partnered with ControlScan, the industry’s leading provider of PCI compliance and security solutions for small merchants and the businesses that serve them, on a merchant survey and we were astonished to learn that nearly half of those surveyed were not clear on the specifics around PCI DSS and more than three-quarters (79 percent) felt that their company was at little or no risk for data compromise....
Customer Service and Twitter
David McSweeney
April 12, 2013
For decades the fundamental medium for providing customer service and support has been the telephone. Companies have and continue to invest significantly in building out – or for some, sourcing – support teams dedicated to delivering immediate customer service to individuals via telephone. Over the past ten years technology advancements have opened numerous doors and provided additional options via new mediums including enhanced interactive voice response (IVR) systems, online self-service portals and live chat. And, more recently, businesses have been leveraging social networks as well - specifically Twitter. Twitter, which launched originally in 2006, is a social networking service that boasts over 500 million users worldwide, of which some 200 million plus are considered ‘active...
Customer Loyalty Starts with Service
David McSweeney
January 8, 2013
Customer loyalty is defined as, “attracting the right customer, getting them to buy, buy often, buy in higher quantities and bring even more customers.” As companies develop and refine their respective plans of attack for loyalty, the focus is typically centered on rewards and offers, breadth of product offering and unique services or customer benefits. Executive level concerns loom around costs and ensuring that any monies dedicated towards driving consumer loyalty yields an incremental return on investment. Focus is typically on net new strategies; the investment, the offer, the plan/campaign, and the results, but isn’t customer service the foundation of any customer loyalty initiative? Developing and cultivating loyal customers begins with service. Whether you have a brick and mortar...
Three Keys to Retaining Customers
David McSweeney
December 12, 2012
Many small and mid-sized businesses (SMBs) focus primarily on new customer acquisition versus customer retention, but what is sometimes forgotten is that the cost of acquisition far exceeds the expenses associated with retention. Research from Flowtown estimates that it is six or seven times more costly to acquire a new customer compared to retaining an existing one. And, in the same survey, it is noted that by increasing retention rates by as little a five percent, businesses can yield anywhere from a five to 95 percent lift in profits. For SMBs, retention programs may range from a targeted offer, for example, an exclusive coupon the most loyal customers, to a more formalized, points based program, where customers receive points or money back for every dollar they spend. Whether you are...
Five Keys to Delivering Superior Customer Service
David McSweeney
August 6, 2012
Providing award-winning customer service is not an easy task. Customer expectations continue to rise and businesses strive to deliver unparalleled service and support. Additional investments in personnel, processes, technology and training – are they making a difference? Not according to statistics. Forrester’s Customer Experience Index, 2012 reports that only 37 percent of brands received ‘good’ or ‘excellent’ customer experience index scores, while 64 percent of brands got a rating of ‘ok’, ‘poor’, or ‘very poor’ from their customers. And sadly only 26 percent of businesses have well-developed strategies for improving customer experience. Providing excellent service and support directly impacts the bottom line. As customer acquisition costs continue to rise, keeping existing customers...
Four Keys for Merchants in Choosing Next Generation Payments Technology
David McSweeney
June 19, 2012
In part one of this series, we examined the four major technological pain points that merchants are experiencing today. Part two will provide four tips that merchants can use today to end the confusion and difficulty involved in emerging payment technologies. From determining business value to assessing competition, choosing the right technology for your business will take some time and effort. Like most things in life, having the patience to not rush out for the shiny object will have a major impact on your plan’s ability to sink or swim. Research It’s easy to look for the quick fix or flashy platform, but to repeat: do your homework! You should understand clearly the business value that any payment solution delivers. Is the solution a nice to have or is it a must have? Is the...
Four Tech Issues Holding Merchants Back
David McSweeney
June 12, 2012
It’s hard to believe that online retailing has grown from a novelty to mainstream in the past 15 years. Years from now, when merchants look back at 2012, they’ll view many of today’s emerging technologies the same way. One thing is clear as of now: technology continues to change the way people shop. While developing Merchant Warehouse’s next generation services, we set out to identify the key technological pain points merchants are experiencing today. In part one of this two-part blog series, we’ll address the confusing disruption around new shopping trends as a starting point to help merchants eliminate their most prevalent technology struggles. After connecting with our merchants and partners to discuss the technology issues holding back their retail efforts, we...