RESOURCES
Leveraging LinkedIn: Tips for Agents and Resellers
Michael Gavin
May 8, 2013
Having been in the payments industry for over a decade now, I admit that I was originally a social media skeptic in terms of leveraging these networks and platforms to support business objectives, whether for networking, marketing or sales. But, there’s no question that social media is here to stay - Facebook now boasts over one billion users worldwide with an astounding 618 million daily users – Twitter, recognized as the fastest growing social platform, with over 200 million active users – and, LinkedIn, the leading business oriented social networking site in the world, with over 200 million members. While all three of these platforms make cases for professional use, personally, I have found that the most useful, practical and easy to use is LinkedIn, especially for the vast number of...
10 Social Media Time Management Tips for Agents and Resellers
Michael Gavin
May 7, 2013
Social media is one of those things that small business owners know they need to do, but I have heard that a vast number of agents and resellers are not quite sure how to find the time to do it. Social media can be an effective outlet to network and generate leads, but it is important to effectively manage your time. Below are ten social media time management tips that I have seen to be effective in spending your time wisely to generate conversations and leads. 1. Have a plan. Find out where your customers and prospects are having conversations and where your business can add value. Google alerts can be used effectively for this purpose. 2. Don’t worry about perfection. Start by listening and learning from others. Humility is something that is always exhibited on social media...
Merchant Services: Redefined
Michael Gavin
March 18, 2013
Merchant services. What does that encompass? Has the definition changed over the past several years? Merchant services are loosely defined as a broad range of financial services used for (and by) businesses, but more often than not the definition is narrowed to a group of specific services around the ability for a business to accept and process consumer credit and debit card transactions. Within the more succinct definition, services typically include credit and debit payment processing, payment gateways, online ordering and processing, gift and loyalty programs and even point-of-sale (POS) system integrations. What has been the standard in merchant services for nearly twenty years is changing. Well, maybe not changing, but definitely expanding – all due to mobile. Mobile card...
Service Always Matters - Even During the Sale
Michael Gavin
February 14, 2013
The competitive landscape in payment processing and merchant services continues to grow with new entries, new payment technologies and increased pressure to deliver comprehensive, affordable solutions to merchant customers. In response to new expectations and demands, it’s critical that we remain continue to focus investments in our people and the training they receive as well as our approach in our conversations and initial engagement. Especially for new merchants, the first conversation around payment acceptance, credit and debit card processing and merchant services can be daunting, with lots of unfamiliar terms and questions. And typically time is of the essence as many new merchants are searching for an immediate need to accept credit cards, whether through a mobile card reader,...
Mobile, Mobile, Mobile … and Point-of-Sale
Michael Gavin
December 4, 2012
Mobile is the hottest topic in payments and its one of the most popular technology topics as well. From statistics relative to consumer smartphone purchases, which are reportedly up 47 percent year-over-year, to predictions around mobile device purchases, which IDC forecasts will exceed $1 trillion by 2017, the vast majority of tech-based conversations are centered around mobile. Regardless of the statistic, prediction, forecast or conversation, there is no arguing that mobile technologies are changing the way we do business and how we engage as customers. As new payment technologies enter the marketplace offering agnostic payment acceptance, including contactless payments via QR/2D barcodes and near-field communication (NFC) as well as integrated loyalty and gift programs, increased...
Daily Deals – Are they effective for SMBs?
Michael Gavin
October 10, 2012
There’s been an abundance of media attention around daily deals sites like Groupon and Living Social over the past several months. Sadly, much of the discussion has been about their business valuation with Groupon stock dropping approximately 80 percent since its IPO in November 2011 and Living Social, a privately held company in which Amazon has 29 percent ownership, posting net losses of nearly $100 million. With an onslaught of new players, like Fab.com, some Wall Street analysts even predict that the end of daily deal sites may be nearing. Regardless of the long-term fait, there is no denying that consumers today value and take advantage of deals. According to a recent report from BIA/Kelsey, annual sales from deals (daily deals, instant deals and flash sales) are expected to eclipse...
The Current State of Loyalty and Rewards
Michael Gavin
August 21, 2012
Customer loyalty and rewards programs are far from a new concept. Airlines and the hospitality industry have been using them for decades to attract new customers and retain existing ones. Soon after, credit card companies caught on, offering both integrated programs and stand-alone ones, like American Express’ Membership Rewards. From retail outlets like Dick’s Sporting Goods and Subway to small local businesses, loyalty and reward programs are more prevalent than ever in the U.S. It’s estimated that the perceived value of points and miles issued in 2010 in the U.S. exceeded $48 billion. What’s even more astounding is that one-third of that total, or $16 million, remains unused. In addition, research from Colloquy notes that the average American household has 18 reward program...
Small Business, Big Opportunity – Credit Card Acceptance
Michael Gavin
July 30, 2012
According to a recent report from Intuit Small Business, an astounding 55 percent, or 14.85 million, of small businesses in the U.S. do not accept credit cards. It’s estimated that these businesses miss out on a potential 100 billion dollars in annual sales. These are amazing statistics that resonate both as an industry professional and a consumer. Consumers often select merchants specifically because they accept credit cards. It’s estimated by Intuit that credit card users also spend up to 50 percent more than their cash using counterparts. As a small business owner, credit card acceptance provides opportunity to attract more customers and increase sales from both new and existing customers. Why would a small business not accept credit cards? Historically, small businesses have shied...