According to a study by Gartner, 60% of consumers surveyed deliberately visited a retail store to view products and gather additional information with the intention of purchasing the product from an online outlet.

Technology products, including cellphones and laptops, as well as small appliances and home improvement products are among the products most often subject to this practice.

To counter the threat of showrooming, retailers can follow these tips:

Offer unique products- If your business prides itself on unique, exclusive products, customers will be more likely to purchase the product in your store. Having unique products will attract customers and make your retail business stand out.

Price match- An effective way to get customers to buy the product from your store is if you match the product price with other competitive stores. Customers are continuously looking for the lowest prices, therefore many big box stores have started using this tactic to keep their customers and continue increasing sales.

Offer excellent customer service- To attract repeat customers, retailers should focus on providing exceptional customer service. If they are able to kindly assist their customers and help them with their needs, customers will be more willing to purchase products from them. In-store representatives can also be trained to facilitate the sales process, leading the customer through the funnel rather than letting him or her browse and bounce.

Use marketing incentives to reward in-store shoppers- Use social media and other marketing platforms to offer incentives for customers who go into your stores. For example, if a user “checks-in” at the retailer using Foursquare, the retailer can offer that person a reward. Or, you can use couponing to offer discounts for in-store purchases only. By tracking customer information and spending habits, Harbortouch POS reporting technology can also help you provide incentives to your most loyal in-store shoppers or can help you target the customers who don’t stop in as often.

By focusing on the importance of business intelligence (BI), retailers can strengthen the core of their business. There are various ways retailers can improve BI and operate efficiently; this includes improvements in the following areas:

• Employee management
• Personalizing the shopping experience
• In-store technology
• Supply chain management & stock control
• Robust reporting

To learn about these common challenges and review a list of effective solutions, read “Harnessing the Power of Business Intelligence for the Retail Industry”.

To ensure your employees are delivering exceptional customer service, you need to train them to become brand ambassadors who represent your retail store in a positive way. Brand ambassadors deliver messages in an engaging manner to promote your brand and can be your best assets in convincing customers to buy. These individuals have the power to alter the way customers see your products and increase your overall business.

For an employee to become a brand ambassador they need to:

Have extensive knowledge about the product:  An employee must learn everything possible about their brand in order to promote the product offering. This knowledge will be beneficial when customers ask questions and are interested in the product.

Understand the company’s message: All employees must have the same clear, concise message about their brand. When asked, “What does your company stand for?” it is important that employees are on the same page and consistent with their answers. They need to embody the core brand values and be able to convey the right message to your customers.

Possess proper communication skills: A brand ambassador should ideally have powerful communication skills and enjoy interacting with customers. Since they are continuously associating with customers, they must be patient and helpful. To be a brand ambassador, individuals need to be enthusiastic, motivated and persuasive as they try to deliver their brand’s message.

Believe in what they are promoting: Employees who truly believe in their brand are essential for successful promoting. If an employee shows they are passionate about the product and present themselves as a trustworthy resource, then they have a greater chance of convincing their customers to make a purchase.

If you focus on these essentials, you can effectively train your employees to successfully represent your company’s brand and attract more customers to increase your business.

As you develop your brand ambassadors, you can gain insights who the top performers are using your Harbortouch POS system reports. View sales data by employee or department, track your best and worst selling products, and evaluate other sales patterns. From there, you can provide more recognition to your most valued employees and provide training support to those who need additional coaching.  Pairing great customer relations with smart data analysis is a winning combination for any business.

After the recent settlement on credit card fees, retailers are worried about the impact it will have on their business. Here’s what you need to know.

Lawsuit

In 2005 an antitrust lawsuit was filed alleging that the major credit card companies conspired with some of the largest banks to set the swipe fee charged to merchants when customers pay with a credit card.  The lawsuit claimed Visa, MasterCard and numerous banks set high interchange fees, violating federal antitrust laws.

Settlement

After seven years battling in court, an agreement was made in July 2012, said to be the largest antitrust settlement in U.S. history. According to NBC News, the $7.3 billion settlement requires MasterCard, Visa and several banks to pay about $6 billion to millions of merchants, reduce transaction fees, and give retailers the ability to surcharge or charge higher prices for transactions with credit cards.

How the settlement affects retailers

Retailers can charge more when customers pay with credit cards: The most concerning effect is that retailers have the option to surcharge if a customer uses a credit card. Though it does not apply to debit cards, retailers are able to charge 1.5 to 3% of the total purchase made with a credit card. If this option is considered, customers must be notified of the surcharge and provided details on their customer receipts.

Certain states aren’t affected: If you live in a state where credit card surcharging is illegal, then the fees will not apply to you. States including California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas all have laws prohibiting surcharges.

Temporary reduced transaction fees: According to NBC News, Visa and MasterCard agreed to a 0.1% discount on transaction fees for eight months. This would result in $1.2 billion in merchant savings.

What should you do?

Though the settlement has a big advantage for retailers, many do not wish to change their policy and enforce a surcharge because it may create an annoyance among loyal customers. On the other hand, some businesses are intrigued and wish to impose this surcharge for the use of credit cards.

Since the settlement has not been finalized yet by the U.S. district court, most retailers will not institute the surcharge.

Businesses need to have superior customer service if they want to keep their valued customers and obtain new ones. If customers receive excellent service, they may make recommendations and referrals, creating new business. Although, if customer service is poor, they are much more likely to tell people about their negative experience and discontinue shopping at the store.

To ensure customers are getting high quality customer service, follow these steps:

Answer customers’ phone calls personally- If a customer is calling in with a complaint, the last thing they want to deal with is an automated service. To help connect with your customers directly, have a service representative answer calls. This will allow you to communicate with your customers and personally turn a negative situation into a positive one.

Listen to your customers- Seek and analyze feedback from your customers. Customers will give you feedback and tell you whether you’re helping them or not. By listening carefully you can gain insight and incorporate the feedback to improve your customer service.

Throw in something extra- Customers love freebies, so surprise them every once in a while with something special. By using a POS system that tracks customers’ purchases and contact information, you can easily find your most valuable customers. Award bonuses to those who make big purchases or send out special offers. Customers will feel appreciated and connected to your business.

Track complaints- Be sure to keep a record of any complaints. Log the issue and how it’s handled to prepare for any future issues. This will allow employees to handle situations consistently and provide them with an efficient way of helping customers.

Hire mystery shoppers- Mystery shoppers have the ability to see your business through a customer’s perspective. Employees will treat this individual like an actual customer and the mystery shopper will provide constructive feedback based on their experience. The mystery shopper is trained to know what qualities to look for and can determine your customer service strengths and weaknesses.

Solve customer complaints quickly- If there is a complaint, be sure to address it in a timely manner. Handle the customer’s issue immediately to show that you genuinely care about them. Put the customers’ needs first and show them how important they are to your business.

Here are six ways small retailers can survive and profit against the big box stores:

1. Quality Customer Service: Go the extra mile when it comes to your customers. This is extremely important for small businesses. You need to build relationships with your customers and let them know who you are. Greet them by name and personally handle their calls or any concerns they have. By doing this, you can concentrate on small details and give your full attention to your clients. They will feel appreciated and become loyal customers.

2. Utilizing Social Media: Get on the internet! Create multiple social media accounts and a blog for your business. With status updates, news and blog posts, you can ensure your customers are constantly engaged and getting information about your company. By using social media, small businesses can market themselves to a larger audience and build loyalty.

3. Joining a Network for Purchasing Power:  Form an alliance with other small businesses to compete with big rivals. If you team up with several other small businesses, you can cut down your costs for basic supplies and get cheaper inventory. It can reduce the cost of items you may not be able to afford on your own, and assist you in other areas of your business. Also, you can enhance your reputation and reach new customers through networking.

4. Product Differentiation: Many big companies do not experiment with new or niche products. Small stores can test out exclusive new items and communicate directly with the manufacturers. Customers can test out these products ahead of time in the store as well, placing the business ahead of the competition. Take advantage of this. Emphasize the fact that you have unique products that big box stores do not offer.

5. Convenience: Many big companies are only located in certain areas and do not have stores in every town. Small businesses can benefit from this and provide customers with the product they are looking for closer to home. Rather than traveling a long distance, small businesses can fill the gap and become a convenient place to purchase items.

6. Use Data to Work Smarter: By evaluating sales data, you can make more informed decisions about your business operations. Harbortouch POS systems provide advanced reporting capabilities to view sales by product, department, employee, customer or vendor and filter this information by day, week, month or year. With Harbortouch’s comprehensive reporting, you can also track inventory and manage employees with a built-in time clock. To learn about obtaining a free Harbortouch POS System, contact us at 888-334-5210 or fill out our online form.

Post a comment below to share your tips for small business success.

For small businesses, this is an important decision that can have a substantial effect on your success. When choosing the most suitable merchant services company, you should consider the following:

Learn what processors offer - Small businesses need to learn what the credit card processing companies have to offer to see if they can fit their needs. Be aware of the major credit cards, debit card networks and various payments that are accepted. What types of payment does the service support and what other services are offered such as check processing or prepaid card services?

In addition to the payment options, make sure you select a merchant services provider that offers adequate support. It is important to select a processor that offers 24/7 customer service and technical support. Other things to look for are live chat support and support by email if you prefer those methods of communication. You also want to choose a company that will support you if you have a chargeback or fraud issue.

Determine the total costs - Costs vary by different processors, so small businesses should be aware of the various charges for payment processing solutions. Consider application fees, monthly minimums, monthly statement fees and any other additional fees. How much do they charge per month/ per transaction? What is the transaction fee?

Also be aware of the initial cost of equipment and the set-up fee. Some processors may charge less for equipment, but increase set up fees. One processor may charge hundreds of dollars more than another company for an identical piece of equipment. Don’t just pick the least expensive one. Find out the prices and compare it to the other companies out there so you can be sure to get the best value.

 For instance, if you are already accepting credit cards, First Merchant Services will match or beat your existing processing rates. If this is your first time processing credit cards, you can rest assured you will receive the best processing rates available along with a free POS system. We also offer free processing equipment including credit card terminals, cash registers and touch-screen POS systems.

Read the fine print - Make sure you carefully read the contracts and application forms presented to you. Certain details may be left out when evaluating a processor, but can show up in the contract. Some processors may hide their fees or fail to mention them. Be aware of termination and cancellation conditions, including any penalties that may occur. This will help you avoid problems or unresolved questions, as well as prevent any surprises.

By completing these actions, you will effectively be able to evaluate credit card processors and determine the appropriate service for your company.

To learn about obtaining a Harbortouch POS System with customizable software options for hospitality and retail, contact us at 888-334-5210 or fill out our online form.

How customers are treated from the moment they walk in will determine their perception of the entire restaurant and leave a lasting impression. To ensure your customers have a quality dining experience, you need to offer the best dining room service possible. Your hosts, servers and bus staff are your customers’ first impression of your business. When recruiting potential employees, you need to look beyond mere talent. Assess applicants’ personalities as best as you can and hire those who fit your concept and vision.

Upon hiring your staff, train employees through the same manner. Outline your customer service and dining room principles so employees are thoroughly trained with the same knowledge to represent your restaurant. Consider these fundamental customer service tips:

Listen to the customers.

Talking to the customers and listening to what they have to say will create a big impact for providing exceptional customer service. Give them the opportunity to provide feedback and ask questions by making brief stops at their table throughout the meal. Make eye contact with them often to give them a chance to wave you over if needed.

Timing is key.

Timing is one of the most important aspects of a dining experience. Customers hate having to wait long to be seated. To avoid this burden, utilize reservation software, such as Harbortouch Reservations. This software allows your host/hostess to manage incoming reservations more efficiently and provide customers with minimum waiting time with a table layout feature that shows which tables are open, occupied, and reserved at any given time. The software also sends text message alerts to notify customers when their table is ready.

Take orders efficiently.

When your customers are seated, provide them with a concise, organized menu. The appearance of the menu makes a significant impact on their opinion of the restaurant. Allow customers enough time to review the menu, as well as ask any questions.

It’s also important to take orders accurately. Through the use of POS software, servers are able to process orders more efficiently, reducing the chance of mistakes.

Be attentive.

While customers hate waiting for their food, you need to make sure there are not long intervals between courses. Servers should coordinate the timing so your customers can enjoy each course without feeling rushed or forgotten. Make sure all food for one table is served at the same time and each meal is at the right temperature. Once the food is served, the timing of clearing the table must be considered. When the meal has come to an end, express your gratitude for their patronage and provide them with the check.

You can obtain a brand new Harbortouch POS System customized with Harbortouch Reservations free of charge with our special offer!  As long as you maintain a merchant services account with First Merchant Services, all Harbortouch hardware, installation, and training costs are completely covered. To learn more, contact us at 888-334-5210.

Not only that, but customers are more likely to make impulse purchases when paying with a credit or debit card. Credit and debit cards allow the cardholder to make a purchase that he or she might not have anticipated when withdrawing cash at an ATM. Additionally, many consumers prefer to pay with credit or debit in order to earn rewards points or other benefits from their card provider.

At restaurants and retail stores alike, we are seeing a significant increase in customers choosing to pay the bill with their card, even on small purchases. The key lesson here is that as consumer behavior changes, so must your business. You don’t want to miss out on potential revenue by turning away a customer because you aren’t able to accept their credit or debit card, so make sure you are equipped to accept these transactions.

Once you decide to begin accepting credit and debit cards at your store or restaurant, here is what you’ll need to do to get started:

Set Up a Merchant Account – A merchant account establishes you as a verified merchant who can accept credit and debit card payments. Your merchant account provider oversees the flow of funds from the time a transaction is authorized until you get paid. You will want to sign up with a merchant account provider who is able to offer you competitive rates and fees as well as excellent customer service.

Buy or Lease Processing Equipment – Once you establish your merchant account, you will need to obtain credit card processing hardware from your merchant account provider. This equipment is typically sold or leased. However, First Merchant Services provides credit card processing equipment to business owners completely free of charge. As long as you maintain a merchant account with FMS, all hardware and implementation costs are waived!

To learn more, contact First Merchant Services at 888-334-5210 or fill out our online form.

Besides offering a quality product or service, the next best way to ensure repeat business is through targeted marketing sustained by strategic CRM (customer relationship management) practices.  Staying connected with your different customer bases, understanding each group’s buying behavior, and offering incentives all fall under the umbrella of a well-managed CRM system.

The secret to implementing a successful CRM program lies in data acquisition and management. Whether or not you know it yet, keeping track of every customer transaction ultimately provides your business with a vast amount of information that can significantly improve your marketing efforts.

For example, utilizing CRM software will allow you to store your customers’ contact information as well as monitor their purchase history. Not just knowing what they purchase, but how they purchase is equally important to your business.

Did they present a coupon at check-out?  Did they buy more items than usual because of a special promotion?  Knowing who your deal-savvy customers are will allow you to establish a more effective loyalty program because you can identify which customers are the most responsive to rewards and other promotions.  Opposed to wasting time and money trying to reach everyone, a loyalty program will allow you to target those who are likely to buy from you again.

With your customers’ contact information all in one place, adding e-mail or direct mail outreach to your marketing mix becomes easier than ever.  Sending out e-mail blasts or postcards to your customers about upcoming promotions and other relevant news is a great way to spread word-of-mouth and strengthen your business positioning.

CRM software can cost you hundreds of dollars – but with a Harbortouch Point-of-Sale System you can have all of the capabilities mentioned above and more features free of charge.  Harbortouch’s POS system provides your business with detailed sales reports and a comprehensive customer database, ideal for launching a customer loyalty program.  Contact us at 888-334-5210 or fill out our online form to learn how you can add a free Harbortouch POS system to your business!