The retail game is ever-changing. Online and mobile shopping has certainly caused many retailers to adapt their marketing and sales strategies, but there’s even more to consider these days. Going beyond the current need for a web presence, retailers are having to take into consideration how people are paying for their products.
This is bigger than accepting major card brands, retailers are facing questions of accepting cryptocurrency, loyalty programs, and omnichannel experience. The best tool you can have in your arsenal when facing these concerns is an educated payment processor. That alone can add a tremendous value to your marketing strategy.
Omnichannel experience–denoting or relating to a type of retail that integrates the different methods of shopping available to consumers (e.g., online, in a physical store, or by phone).
Maybe you’ve heard of cryptocurrency, maybe not, but you’ve certainly heard of Bitcoin. Some companies have already jumped on board with accepting Bitcoin. There are definitely some perks to accepting cyrtocurrencies, like less bank fees and decreased risk of fraud. The most intriguing aspect, though, is the marketing potential. Accepting cryptocurrency can reach people across varied socioeconomic backgrounds and regions. Wise marketers will want to consider what the acceptance of cryptocurrency can mean for the future of their business.
Omnichannel Experience and Loyalty Programs
When you provide a consistent transaction experience across all channels, you can improve customer satisfaction and retention. This puts the payment processing at the top of your marketing efforts. Today’s payment processing offers internal loyalty programs, collecting important consumer data even in brick and mortar retail stores. Combining the e-commerce and in-store payment solution, you can know your customers in the store as well as you know your online customers. This tracking gives your business the chance to reward loyalty.
Time to Get Ready
Anything that add convenience and value to your customers is something that will certainly grow in support. The best thing you can do to prepare for these marketing opportunities hidden in your payment processing is to update your current payment technology and tie in processing with loyalty and the ominchannel experience to boost your customer’s experience across the board.