1. Increased Business
This is the most obvious case for expanding the types of payments that you offer, and for good reason. As a business, you want to give people as many ways as possible to pay you so that you remove barriers to purchase. This is why most online stores accept all four major credit cards, and you should too!
I typically carry about $20 on me and I never have my check book on me unless I know I’m going to need it, which means that if you don’t accept credit cards, you better be my first stop at the farmer’s market and be selling something that no one else is offering that day, otherwise I’ll just go down the line to the next vendor that sells the same thing and accepts credit cards. And I’m not alone! You’ve probably witnessed this yourself, although you may not have realized it at the time. The vendors at popup locations like a farmer’s market that use Square typically have the biggest crowds and are generating the highest order totals. Why? Because everyone has a credit or debit card and people that pay by card tend to spend more! It’s simple psychology – people are more frugal when they have to count out their dollars to make a purchase than if they can just swipe and look at the order total on the receipt later.
And speaking of receipts, using Square means that you can automatically send a branded receipt to your customers. When you just offer cash or check as payment options, you have to write out a receipt by hand, and almost no one uses customized receipt slips. Not providing a branded receipt is a huge missed opportunity because it greatly reduces the likelihood that someone will remember your business name later on. Sure, at a farmer’s market you may see the same few vendors every week and get to know their names, but most people just remember what they bought and not who they bought it from. This doesn’t help after the sale when your customers get home and try to find your business online.
Businesses that use Square, however, are able to remind their customers of who they are in a place that they’ll have access to later. So when they run out of honey or corn and want more, they can go into their email, pull up the receipt, see your name, and then go online to find your website. This makes them more likely to come visit your farm or roadside stand in the future to make additional purchases. Basically, a receipt generated by Square is the fastest and most effective way to bridge the gap between your offline and online marketing channels.
3. Customer Feedback
Square lets users provide feedback about the merchants that they’ve done business with, which is a great way to learn how to improve your business. Shoppers are sent a receipt with a link to provide feedback and that feedback consists of three easy steps. First users click a smiley face or frowning face, then they check boxes that describe which factors were responsible for their positive or negative experience (like customer service, wait time, etc.), and lastly they’re given the option to type an explanation in a free response text box. That’s it. Because the request for feedback is so fast for consumers to complete, the response rates tend to be very high. The honest feedback that businesses can get through Square is a great way to improve your product offerings, employee training, pricing strategy, and so much more! Typically, this type of customer feedback is much harder and more expensive to acquire, but with Square it’s included!
Full disclosure: We were not paid or otherwise compensated to write this glowing review of Square. We just love it. We love the way Square has opened up business across so many different industries – making accepting payments anywhere a reality. We love buying fresh produce and handmade local foods with it. And we love its clean, tiny, adorable, modern look.
Kate Pierce is the owner of LionShark Digital Marketing LLC, a West Michigan internet marketing company. Her areas of expertise include Paid Search, Search Engine Optimization, Business Blogging and Web Copywriting. She lives in the Grand Rapids area with her husband and son and enjoys cooking, watching sports, and spending time together as a family. Like a true digital marketing expert (i.e. geek), she loves talking about current marketing trends… so don’t say you weren’t warned!