Cash discounting from North American Bancard? Here’s What We Will Do: You go to the merchant and tell him that you will reduce his credit card payment processing fee from $300 to zero or almost zero. And you will do that by telling customers that they will get a discount if they pay via cash, but if they pay via credit card, they will have to pay full price. However, with this approach, you are losing 50% of your profit and only getting $50 out of the total profit of $100. This approach might win you “salesman of the year” award, but it won’t let you buy that Mercedes you’ve been eyeing for some time.
How Surcharges Work? Many entities, including governments, businesses, and service professionals assess surcharges for goods or services. For example, taxi drivers may add a fuel surcharge of $1 when gas prices increase. The cost of some products and services do not include the added surcharge. Instead, the calculated fee will be assessed upon acceptance or purchase of the item and appears in the contract or purchase agreement. Surcharges may be set at specific dollar amounts, such as $5 per transaction, or based on a percentage of the total price. A surcharge is an extra fee, tax, or cost added to the already existent cost of a good or service.
Subscriptions are all about relationships. Customers are buying something once and then forgetting about; they are spending money on your product on a recurring basis. Whether it’s the beginning of the customer cycle, or throughout, you must build trust with your customers in order to successfully sell them your product/service, and to ensure retention and renewal. But how do you build trust? It begins with developing a rapport, asking questions and truly listening. You can connect with prospects on business-centric social media sites like LinkedIn. Make sure to follow-up and stay engaged. Show the customer you genuinely care.
Cash Discounting and surcharging are two different things that you might have heard about. When you are doing any of the credit card transactions, you might have seen both of these. We will be seeing everything you should know about both of them. Many people are confused when it comes to Cash Discounting vs Surcharging. We will clear all your doubts here. Discover even more information at Best Cash Discount Program.
Convince buyers you’re the best choice: Fear and risk play a significant role in financial services sales. You need to convince buyers that you’ll help them minimize risk. Do this by sharing stories of other clients you’ve helped. Share the roadblocks they faced and how you helped them overcome those obstacles. Share your plan for helping your client minimize risk. All of these stories demonstrate that you can deliver on what you say you can. They help to substantiate your claims and convince buyers you’re the best choice.