A couple weekends ago I attended a local Vintage and Antique Show. About 60 vendors set up their “storefronts” displaying their merchandise. As I was walking thought the show, I realized I didn’t stop for cash. I thought to myself, “It should be ok, everyone has access to mobile credit card processing systems like Square, PayPal, Spark…SOMETHING. So my panic subsided and I proceeded to shop. As I approached the storefronts, I realized only about 25%-30% of the vendors accepted credit/debit cards. Really people?!?
A young family had a booth set up to sell their Handmade Soy Candles – they offered 3 sizes. As we approached the booth, the young mom explained that she was having a sale on the large candles, reducing the price from $18 to $15 because she didn’t have change. As a small business owner, I started to do some math in my head. Square charges a 2.75% processing rate. On an $18 candle, that is $.50. Wait, what!? She was willing to reduce her price by over 15% because she didn’t have a credit card processing method and she didn’t have change!
I loved the scent of 3 of her candles, but she lost this sale because she didn’t accept credit cards. I am a huge proponent of supporting local, independent small businesses – g2 media pros falls into this very same category, but today, small businesses must be customer friendly. Her personal time and money was invested in her product and the show. I would have spent $54 on the 3 candles that I liked. That would have resulted in $1.49 in processing fees vs. $9.00 she was discounting because she didn’t have change. The worst part, is that she didn’t make a sale at all because her business was not customer friendly by offering to accept credit cards in a shopping environment. Customer service goes far beyond a “Thank you for stopping by” and a smile.
Moral of the story: Make sure your business is customer friendly. Keep up with technology conveniences, maintain an updated, optimized website, engage on social media, post fresh content on your site and your social channels. If you don’t have time to put these important things in place, g2 media pros can do this and more for your business.
The world is your oyster…