Cash discounting and selling tips? Paying with plastic will be a slightly different process than before. To encourage consumers to use cash and offset the costs of accepting cards at the merchant’s place of business, a surcharge will be imposed upon the customer at checkout, increasing the cost of the purchase for the consumer. In this situation, the consumer is able to use the convenience of plastic and the merchant is able to offset the fees that are incurred when accepting cards to help their business and increase their margin.
Highlight your strengths and differentiators that set you apart from the competition. Motivate prospective customers to learn more. Your value proposition should be comprehensive, yet brief, and solve specific pain points for the customer. When possible, quantify value for your customers—provide a concrete and tangible ROI. And of course, continually reinforce your values to the customer.
Are you tired of losing 2 -4% of your credit card sales to the credit card companies? That’s the cost of doing business, right? Where do you draw the line, though? When does it become too expensive to allow customers to pay with credit cards? You can’t just turn credit card paying customers away – that’s bad for business, so what should you do? Try the Cash Discount Program. It helps ease the financial stress on merchants while rewarding cash buyers with a discount. It’s a win-win for everyone. Read additional details on Cash Discounting Program.
Ask for referrals: Too many financial advisors and bankers assume that their clients, friends, family, and network will refer them to others without prompting. If you do this, you might get a few referrals, but you’ll miss out on a huge opportunity to generate new conversations. Start by being more proactive and request referrals. Most people don’t think about the connections they have. It’s as simple as asking, “Do you know anyone else who might benefit from something similar?”
Perhaps one of the easiest places to find a senior discount is at your favorite restaurants. Though most chains offer discounts across the board, many smaller locations will as well. Be sure to ask about special event savings days or early dinner discounts available. Restaurants typically will advertise these discounts. Alamo Drafthouse: Moviegoers ages 60-plus can view weekday shows before 2pm for only $6, less than half of the general admissions price of $13.75. That special low pricing applies all day on Wednesday for the chain’s Senior Day. See here for locations. Amtrak: Travelers ages 65 and over can receive a 10% discount on most rail fares on most Amtrak trains. Kathy Levine, 70, of Long Beach, N.Y. uses the discount frequently to visit her daughter and granddaughter 200 miles away. “I prefer not to drive the four hours it takes,” says Levine. “The Amtrak discount allows me to see them more often.”
Don’t let the last tip discourage you; there are many other businesses out there that are perfect candidates for the program. Make a list, approach them and tell them how you can take down their credit card payment processing fee to zero dollars, they’ll be hooked from the start. Selling a cash discount program is challenging for those who don’t know how to approach businesses; however, with the selling process mentioned above, you should do just fine. But what they don’t know is that the full price is actually the original price of product + processing fee. So, in the end, the merchant just deducts the fee from the original price and use it to pay for the credit card processing. Find even more information on https://www.shawmerchantgroup.com/.