When it comes down to it, business owners all have one thing at the forefront of their mind – profit. Sure, you may be deeply invested in the products your company is selling. Sure, you may genuinely care about your customers and meeting their needs. But at the end of the day, there’s one aim to the game – and that’s to make as much money from your venture as possible! Profits are what keep your business afloat, what provides you with an income and what you need to secure in order to be successful. Now, there are various things you can do to maximise sales and to make this money. But one option that many people completely neglect is offering customers as many different payment methods as possible. The more limited your payment methods, the more likely you are to cut off potential customers. Here are just a few of the options available that you might like to make use of!
Let’s start with the most traditional payment method – cash. Now, if you run a completely online business in the realm of E Commerce, this isn’t going to be an option. But if you run a traditional brick and mortar store, cash can be a great option! Just make sure to have somewhere safe to store it until you can bank it! Also, consumers and businesses can also take advantage of this shopping guide when taking the leap to buying and selling from or as local businesses.
Next, card payments. If you’re running your business online, this will be your primary form of payment method. Your business should be accepting as many different types of card payment as possible – from debit cards to credit cards to visa corporate cards. If you have a traditional brick and mortar store, you should have a card reader. You should also, where possible, accept contactless payments. This makes paying quicker and easier for your customers.
Pay With Paypal
Paypal is now universally known and it’s a great payment method to be used online that can really maximise sales. Essential, users simply log in to their account, which already has their card details connected, and then click pay. It’s quick, it’s simple and it means they don’t need to have their card at hand to make a purchase. This can secure more sales, as customers can check out quickly anytime. If they have to wait until they have their card on them, they may change their mind rather than going ahead with an impulse purchase.
Pay With Credit
If you like, you can offer your customers some kind of credit or finance plan with payments. Essentially, they buy now and pay later, or buy now and then pay you back in installments. Generally, you can make more money this way, as you add a little interest to the cost in exchange for the flexibility in when they pay. There are also third parties like Klarna who you can use to provide this service!
These are just a few different payment methods you should offer to your customers. Each has its perks and the more you have available, the better!