Payment Processing Basics

Written by John Calder


© 2004, John Calder http://www.TheEzine.net

If you want to sell your own products online, you will need to choose a means for your customers to pay you. Otherwise, you won't be in business very long! If you have regular office hours and employees, or want to hire a service, you can offer to let your customers phone in their orders and/or credit card number.

But most marketers want total automation of their ordering and payment process. They understand that without automation, they can't haverepparttar time freedom thatrepparttar 127126 Internet marketing lifestyle can bring. And many of today's Internet shoppers are used to ordering online, without having to phone anyone. They expect to be able to add their items to a shopping cart, then completerepparttar 127127 checkout process smoothly. If you don't offer that to them, they may choose to shop at another site that does.

For automated payment systems, there are just two basic choices. You can either get your own merchant account and do allrepparttar 127128 payment processing from your site, or you can choose a third-party processing service. It really is that simple - everything else is detail. Of course,repparttar 127129 devil's inrepparttar 127130 details, so let's take a look at each.

For high volume or high dollar sales, having a merchant account is almost alwaysrepparttar 127131 best option. There's a certain break even cost point where it makes sense to payrepparttar 127132 monthly fees and processing charges of a standard merchant account. Not so long ago, it was difficult for online merchants to even get an account, because ofrepparttar 127133 extra risk associated with Internet payment processing. And when you could find a bank willing to offer you an Internet merchant account,repparttar 127134 monthly fees were much higher than for standard accounts, enough to make them out ofrepparttar 127135 financial reach of many small businesses.

Today, it's relatively easy to get approval for an Internet merchant account. In fact, it's a very competitive field inrepparttar 127136 search engines, and search results are often filled with a mixture of legitimate offers, spammy sites, ripoffs, and outright fraud. So if you choose to go this route, be very careful in giving out any of your financial information. Try to get referrals from fellow marketers if you can, and investigate any companies and their offers thoroughly. One caution on having your own merchant account - if you get too many consumer chargebacks, your account could be canceled, and you may find it difficult to get another one.

The Fundamentals of Growing Revenue

Written by Jim Logan


If you want to grow your company's revenue,repparttar most critical thing to get straight in your mind is that there are in fact only three ways to grow revenue - you can get more new customers, you can increaserepparttar 127125 value of your average sale, and you can get more repeat business. That's it...there are no other ways.

This sounds simple enough - and it is!

You need to keep this reality onrepparttar 127126 forefront of each marketing and sales activity you undertake and target one or more of these ways to grow revenue in each campaign you undertake to seek more business. Use it as a "litmus test" for each prospective customer interaction and communication.

Get More New Customers Getting more new customers is a result of successfully executing on two broad objectives - increasing your prospective customer's awareness of your offering and communicating with your customer from their perspective ofrepparttar 127127 benefits of your product or service. If you can achieve these two things, you can increase your number of new customers.

Increase Your Prospective Customer's Awareness of Your Offering More than just simply creating leads, creating awareness is about establishing a brand. You have to be known for something, you need a message, and you need a "voice" that speaks consistently about your benefits and why customers should want to do business with your company. By consistent, we mean your "voice" should be heard from your web-site, presentations, tag-line, mailers, sales letters, demonstrations, etc.

Communicate From Your Customer's Perspective Put yourself inrepparttar 127128 shoes of your customer for a moment. Looking at your offering from their sole perspective, what exactly does your product or services do for them? Forgetrepparttar 127129 products and services you provide, these are justrepparttar 127130 things that enablerepparttar 127131 benefits you provide your customers. Think instead aboutrepparttar 127132 solutions you are providing,repparttar 127133 use of your products and services,repparttar 127134 "things" within their business that you're enabling. These arerepparttar 127135 "things" that your customers are really buying.

A huge mistake many companies make inrepparttar 127136 presentation of their products and services is made in their initial contact and meeting with a customer. The initial contact isrepparttar 127137 encounter wherebyrepparttar 127138 customer is first introduced torepparttar 127139 products and services your company offers. The mistake is most company's introduction of their offering focuses on their products and service, not onrepparttar 127140 benefits they offer their customers. What happens in this case isrepparttar 127141 prospective customer has to interpret everything they are being told aboutrepparttar 127142 features and functionalities of a product or service into something that is meaningful to them. This interpretation is where many sales opportunities are lost;repparttar 127143 customer doesn't understand what they gain by employing your offering.

The main point here is that you need to be sure you're presenting your products and services inrepparttar 127144 context your customer is thinking: "What do I get from using your products and services?"

Increaserepparttar 127145 Value of Your Average Sale You can likely sell your current products and services at a greater price than you are today. We've found time and again opportunities to actually increaserepparttar 127146 price of an offering or stay out of a "price-discounting" discussion with a prospective customer, even in a highly competitive sales environment.

"What'srepparttar 127147 secret?" The "secret" is to sell from your customer's perspective and getrepparttar 127148 buying criteria focused on your "orange."

Selling from your customer's perspective means you forgetrepparttar 127149 speeds, feeds, features, and functionality of your offering. Instead, you communicate fromrepparttar 127150 benefits your customer is most likely to value as a result of using your product or service. This point could never be over stated, you need to communicate fromrepparttar 127151 perspective your customer brings torepparttar 127152 conversation.

The greatest sales "mistake" you can make is to be so rapped-up in your own offering, all you do is talk, present, and demonstrate endlessly about how great your product or service is...speaking tirelessly aboutrepparttar 127153 wonderful features and functionality you offer. All this does is leaverepparttar 127154 real selling up to your customer, making them interpret your features and functionality into benefits they value.

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