The Card Association’s Post

Did you know NFC tags can make your business more profitable? NFC tags are a cheap but underrated technology.   You can buy 30 tags for £15 quid on Amazon, but the value they can add is immense. Here’s 3 ways you can implement in your business: 1. Online Menu to make ordering easier Food businesses can use NFC tags to link to an online ordering system. By placing a tag on the counter, all the customer needs to do is just tap to be taken to the online ordering webpage. A small change which can free up staff from taking orders so they are able to focus on food production quality and efficiency. 2. Build your mailing list Direct marketing to customers through a mailing list can improve sales. With a direct mailing list you can market straight to your customers without having to tackle social media algorithms. Studies show that simplifying sign up processes can increase sign ups. NFC tags can be used to make signing up for the mailing list simpler for customers. With one tap they can be taken to the sign up page in seconds. 3. Build a loyalty card system Retain customers by building a loyalty system. A loyalty card system can improve sales value and frequency. But that's not all. A loyalty card system has been shown to help attract new customers by enticing them with the benefits gained through having the card. NFC tag cards can be used to set up your own loyalty card system. A simple tap of the card from the cashier can add loyalty points to the customer account. All these NFC tag uses don't cost much to implement but can help improve your businesses productivity and sales. If you're interested in implementing the above uses or would like to discuss other ways to use this technology, we can help. DM us to set up a call to discuss how we can help your business. 

Optimize your merchant services with these tips: 1. Embrace a Hybrid Approach: Contrary to popular belief, optimizing merchant services is not just for online businesses. Small brick-and-mortar stores can also benefit from integrating payment processing with their existing business software. For example, a small boutique in a healthcare industry can streamline their operations by connecting their payment processing system with their inventory management software. This allows them to track sales, manage stock levels, and generate insightful reports all in one place. 2. Simplify Setup Processes: Many small business owners fear that improving payment processing services will lead to unexpected technical issues and disruptions. However, by choosing a user-friendly payment processing solution, businesses can simplify the setup process and minimize potential disruptions. For example, a chiropractic clinic can opt for a payment processing service that offers easy integration with their existing practice management software, allowing them to start accepting payments seamlessly. 3. Utilize Analytics for Business Insights: Optimizing merchant services goes beyond just processing payments. By leveraging the analytics and reporting capabilities of payment processing software, small businesses can gain valuable insights into their sales patterns, customer behavior, and overall business performance. For instance, a wellness center can analyze their payment data to identify popular services, peak hours, and customer preferences, allowing them to make informed business decisions and improve their offerings. By challenging common beliefs and taking a contrarian approach to optimizing merchant services, small businesses can unlock new opportunities, enhance security, and improve their operations for greater success.

How to Reduce Shipping Costs: Challenges and Strategies for Small Business Owners

Running a small business comes with many challenges, but managing it shouldn’t be one of them. SokoWise is here to simplify and supercharge operations for small businesses with powerful, easy-to-use tools that help business owners manage and grow their businesses. What SokoWise Offers: - E-commerce solutions to sell online seamlessly - Point of Sale (POS) system for in-store transactions - Email & SMS receipts - Loyalty & referral programs to keep customers coming back - SMS & email marketing to reach your audience effectively - Online orders processing for smoother fulfillment - Quotations, invoicing, & payments collection - Accounting & inventory management - Customer management for personalized service - Bulk SMS and feedback collection With over 25+ integrated tools, SokoWise seeks to be a partner for success to small business owners! #SokoWise #SmallBusiness #BusinessGrowth #Ecommerce #BusinessTools #Entrepreneurship

There are some great nuggets of advice here when it comes to optimizing your purchase-to-pay system. E-comm businesses, take note! #ecommerce #ecomm #p2p https://lnkd.in/ghRdpuCP

Mismanagement of cash flow is the biggest reason small businesses fail 😱 In this guide, we will explore what it means to be a cash flow positive eCommerce business, how to calculate it, and strategies to ensure a healthy eCommerce cash flow 💸 Full Story Here: https://ow.ly/5pBc50QMMh8

eCommerce KPIs allow you to make decisions based on real information, not just guessing. Based on the results of your KPIs you can take strategic actions on customer service, sales strategies, marketing, that are based on facts.

𝐓𝐡𝐞 𝐄𝐍𝐓𝐈𝐑𝐄 𝐭𝐫𝐮𝐭𝐡 𝐚𝐛𝐨𝐮𝐭 𝐝𝐫𝐨𝐩-𝐬𝐡𝐢𝐩𝐩𝐢𝐧𝐠 The "𝐞𝐚𝐬𝐲" way to make money online. The "𝐬𝐡𝐨𝐫𝐭𝐜𝐮𝐭" to success. 𝐁𝐮𝐭 𝐢𝐬 𝐢𝐭 𝐫𝐞𝐚𝐥𝐥𝐲 𝐚𝐥𝐥 𝐢𝐭'𝐬 𝐜𝐫𝐚𝐜𝐤𝐞𝐝 𝐮𝐩 𝐭𝐨 𝐛𝐞? The truth is, drop-shipping isn't a get-rich-quick scheme. It's a real business model that can work if you're doing it right. Today, I'm going to break down the good, the bad, and the ugly of drop-shipping. And by the end of this post, you'll know if it's the right path for you. 𝐋𝐞𝐭’𝐬 𝐠𝐨! 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐝𝐫𝐨𝐩-𝐬𝐡𝐢𝐩𝐩𝐢𝐧𝐠 𝐚𝐧𝐲𝐰𝐚𝐲? First things first. Drop-shipping is a business model where you sell products without holding inventory. 𝐇𝐞𝐫𝐞'𝐬 𝐡𝐨𝐰 𝐢𝐭 𝐰𝐨𝐫𝐤𝐬: 1. You set up an online store 2 . The customer places an order 3 . You forward that order to a supplier 4 . The supplier ships the product directly to your customer The good? Low startup costs and minimal risk. The bad? Lower profit margins and less control over the supply chain. 𝐓𝐡𝐞 𝐠𝐨𝐨𝐝 𝐭𝐡𝐢𝐧𝐠 𝐚𝐛𝐨𝐮𝐭 𝐝𝐫𝐨𝐩-𝐬𝐡𝐢𝐩𝐩𝐢𝐧𝐠 Low initial investment: You don't need to buy inventory upfront. This means you can start with minimal cash. Location independence: Run your business from anywhere with an internet connection. No need to be tied to a physical store. Wide product selection: Test different products without the risk of unsold inventory. Scalability: Easily scale your business as demand grows. No need to worry about warehouse space. Flexibility: Change your store's direction quickly based on market trends. 𝐓𝐡𝐞 𝐧𝐨𝐭-𝐬𝐨-𝐠𝐨𝐨𝐝 𝐭𝐡𝐢𝐧𝐠 𝐚𝐛𝐨𝐮𝐭 𝐝𝐫𝐨𝐩-𝐬𝐡𝐢𝐩𝐩𝐢𝐧𝐠 Lower profit margins: Since you're not buying in bulk, your cost per item can be higher. Intense competition: A low barrier to entry means lots of other drop shippers selling similar products. Limited control: You're at the mercy of your suppliers for product quality and shipping times. Complex returns process: Handling returns can be a hassle when you don't control the inventory. Customer service challenges: You'll need to handle customer queries about products you've never physically seen. Here's the good news, though: With the right strategies, you can tackle these challenges 𝐡𝐞𝐚𝐝-𝐨𝐧. 𝐇𝐞𝐫𝐞'𝐬 𝐡𝐨𝐰: 📌 Implement pricing strategies to maintain healthy profit margins. 📌 Differentiate your brand to stand out in a competitive market. 📌 Develop systems to ensure quality control and timely shipping. 📌 Create efficient processes for handling returns and refunds. 📌 Build a knowledge base to provide excellent customer service. 𝐈𝐬 𝐝𝐫𝐨𝐩 𝐬𝐡𝐢𝐩𝐩𝐢𝐧𝐠 𝐝𝐞𝐚𝐝 𝐢𝐧 2024? Hell no. But it has evolved. The days of throwing up a generic store and making a bank are over. To succeed in drop-shipping today, you need to: 📍Build a real brand 📍Optimize for mobile 📍Use video marketing 📍Leverage social proof Hope You like it please Share with Loved ones ... #dropshipping #digitalmarketing #money

Dive into Drop shipping: A look at advantages, challenges and top tips   Diving into Drop shipping: A Look at the Advantages, Challenges, and Top Tips Drop shipping has become a popular entry point for aspiring entrepreneurs in the e-commerce world. But before jumping in, it's crucial to understand both the exciting opportunities and the hurdles you might encounter. The Allure of Drop shipping There's a lot to love about drop shipping. Firstly, it offers a low-cost entry point. You don't need to invest in inventory upfront, freeing up capital for marketing and website development. This makes it easier to test product ideas and find your niche market. Additionally, drop shipping eliminates the hassle of managing storage and fulfilment. Your suppliers handle those tasks, allowing you to focus on growing your online store. Challenges to Consider However, drop shipping also comes with its own set of challenges. Profit margins can be tight because you're competing with other drop shippers selling similar products. You also have less control over product quality, shipping times, and branding since you rely on your suppliers. Additionally, drop shipping often means longer delivery times for customers, which can impact their satisfaction. Optimizing Your Drop shipping Journey Despite these challenges, success in drop shipping is achievable. Here are some key practices to follow: ·      Prioritize building strong supplier relationships. Finding reliable suppliers with high-quality products and fast turnaround times is crucial. ·      Focus on exceptional customer service. Since you might not have direct control over fulfillment, exceptional customer support becomes even more important to build trust and brand loyalty. ·      Transparency is key. Be upfront with customers about potential longer shipping times. Clear communication builds trust and avoids unnecessary frustration. By carefully navigating the world of drop shipping, you can leverage its advantages to build a thriving online business. Remember, success hinges on choosing the right products, building strong partnerships, and prioritizing customer satisfaction.  

Navigating the World of Drop shipping: Pros, Cons, and Best Practices by Suharshit Singh Reg: 12306340 section: K23ST Group: B In today’s world full of money making ideas, Drop Shipping is one of those ideas. It is best for those people who want to launch an online store with minimal upfront costs and manage it without worrying about inventory. Or for those who want to check if there product is market fit or not? Sounds like a Dream! but before jumping in, we need to understand the full picture. by navigating through the world of drop shipping exploring there Pros, Cons, and The Best practices out there for drop shipping. Pros: 1. Low Staring Cost: In Drop shipping we didn’t need to worry about the warehouses and bulky inventories. our supplier stores and ship the product which allows us to start at small and scale as we grow. 2. Wide range of Products: In Drop shipping, we can offer customers a vast range of products by tieing-up with multiple suppliers, and without worrying about the managing of physics stoke. 3. Flexibility: Drop Shipping allows us to work from anywhere with internet on any device. It offers freedom and location independence. Cons: 1. Low Profit Margin: In Drop shipping, we are not buying in bulk so there is very low scope of negotiation on product price. therefore less profits then traditional Retail stores. 2. Limited Control: We rely on your supplier for product quality, packaging, and shipping. Delays or issues with the supplier can impact your customer experience. Best Practices: 1. Do Research: Choose reliable suppliers with high-quality products and good reputations. Negotiate for profit making prices and clarify shipping times. 2. Focus on Branding & Marketing: Brand is what differentiates the business. Invest in a user-friendly website, compelling product descriptions, and effective marketing strategies. 3. Prioritize Customer Service: Excellent customer service is essential to build trust and loyalty. Respond quickly to inquiries, find out issues efficiently, and be transparent about shipping times. Drop shipping can be a fantastic way to launch your e-commerce journey, but remember, success requires dedication and effort. By understanding the pros and cons, and implementing these best practices, we can really see growth in these businesses. End