One of the quickest ways to expand your business is to let your customers use a credit card. With something like $2.5 trillion in credit card transactions a year, that’s a lot of business that you could be tapping into.
Know Your Numbers: The most important element in any direct marketing business is to know your conversion rate. In other words, how many visitors out of 100 make a purchase? This is critical because it allows you to see what a visitor is worth.
And trust me; I know what I’m talking about. I sat down at the computer and did some research about ecommerce merchant account services. More than 80 percent of everything bought online is paid for using a credit card. So if there are billions of dollars just do the math. You take 80 percent of billions and that translates into a lot of money, some of which I want to end up in my pocket.
Your domain name will be measured in feet and will tell nothing or very little of your business. This obviously results in low traffic scores, as your visitors won’t be able to remember your URL. Can you rely only on search engines, linked sites and people bookmarking your web site? If yes, at least consider the fact that in the age when companies try to create a personalized image, your web site will be condemned to be just another subdomain of your free host.
The web marketplace is scoured with a number of Credit Card Processing companies that also function as a MSP. So you should choose a trusted name to begin with. The company should be in the market for years offering reliable merchant payment processing services and credit card terminals. When you become a merchant account reseller of such a company, your income is sure to be good as merchants will want to join this company.
Not listing prices – the second question all prospects ask after “have they got what I’m looking for” is “how much is it?”. If you can give straight pricing, do so. Prospects are looking for value, not necessarily the lowest price. Value = offer/price. If you have a strong offer and your prices are reasonable you will represent value to your prospects. If you don’t state your prices then the value can’t be calculated. If you charge by the hour, state your rates for the type of work you do and a typical project cost.
This should go without saying, but many people try to save a buck by going with an unlicensed company only to later regret it. The companies that are licensed work with the federal government and will have a more established practice. They have experience with these moves and are far less likely to be a shady company. By choosing licensed companies, you can help reduce your risk to a number of issues.
It isn’t a perfect site, however. Like other sites, you can only browse listings in very specific sub-categories. From the home page, you must first click on Movies and DVDs, then on standard DVDs, and then you must click on a genre like action or romance to finally see listings. Allowing browsing of all items under movies (which would include VHS) may be too broad, but it would be nice to see listings of all DVDs. What if a movie is listed under a wrong category? It’s a minor flaw, but it could affect sales.