Get smart with payments: how to keep things easy for your clients

Business can be difficult these days, especially for small business owners. Here’s a few ways to help with cashflow

In the UK, small businesses have experienced a 424% rise in fuel costs and 349% in electricity expenses since February 2021. With a looming threat of rising bills that are far from sustainable, many businesses have chosen to shut down in fear of paying even more in costs by the end of the year.

For small and medium business owners in Sussex, this problem may be a sign to change something so that the business can thrive and even attract new customers. While more small businesses are taking the digital and online route, this opportunity can still be paired with physical stores to establish brand identity, as well as product management.

One of the key aspects of going digital with business is making sure your customers don’t have a difficult time paying you. Today, we’ll discuss some of the things to focus on for smarter payments:

Tuning into digital customer preferences

Once you have a digital presence established for your business, it’s important to keep track of customer preferences — especially in regards to how they like to pay. Doing so will inform you of patterns in purchasing behavior, so you can strategize your business plans to reach more customers and boost growth in the future.

For those opting for online storefronts in addition to a physical store, pay attention to demands for guest checkouts (people don’t like having to sign up just to pay) or whether your digital space is simple enough to navigate or not. As more and more people pay digitally, it’s also important to ensure your payment methods are always secure, speedy, and reliable. This will ensure customers keep coming back, as they won’t need to worry about your business’ legitimacy.

Providing a variety of payment options

For small businesses looking to navigate these difficult times, having different payment options available can help customers who may have trouble paying in cash. Tourists, for example, can benefit from losing the hassle of converting currency if your business offers a digital solution, as they can charge purchases on their card. In fact, most people are going cashless nowadays, so accommodating this preference is key.

Fortunately, there are plenty of merchant services for small business that offer simple, affordable pricing plans so you can accept credit cards as well as online, mobile, phone, and email payment. From secure, reliable card machines in the store, to offering easy payment via links on an email invoice, choosing to provide your customers with this flexibility will pay off in the long run.

Diving into digital marketing/advertising

Going digital, even when you already have a physical store, can help enhance your business presence in the market while reaching new audiences and potential buyers. Some businesses opt for websites and online storefronts, which is a great way to establish an online presence for your products or services, but going above and beyond for digital ad space on reputable sites can boost traffic and engagement and boost your business down the line.

After all, investing in smarter payment options is half the battle — getting customers to see your store and products is just as important. This can come in the form of banners leading to your site, or a more long-term campaign to help drive organic traffic. Either way, it’s important to branch out and think beyond the physical store.