Free Trials Can Help Your Business

Feb 13, 2015

Offering free trials is something that many businesses do not do. They think that it costs money in the long run, and that it is wasteful. However, while not everyone will purchase from you, there are ways that you can make sure that your free trial offers are successful.

First off, make sure that you have adequate contact information for those ordering trial offers. Contact them before the trial offer is up. Personal attention helps keep customers, and this step can be done quickly, with few staff participating in the calls. While most think that email is quicker – and it is – a call is more personable, and can lead to better customer knowledge. Many times, with personal attention, the free trial is prolonged into a paid subscription or product.

Also, you need to make sure that your cancellation plan is clear. Many times, people do not pay attention to the automatic billing dates, and in return, they can call their bank or credit card company and claim it to be a fraudulent charge. These charges can damage your company to the point of bankruptcy, if you are not careful. Fraudulent charges carry high fees, and these fees can lead merchant account providers to close your account.

You need to make sure that your merchant account is handled by someone who is experienced in dealing with free trial merchant accounts. Not all providers are, and many who say they are really are not. This can be complicated to figure out, but your best bet is to locate a “high risk” merchant account provider, such as EMB. With EMB, you get the amenities of traditional merchant accounts, along with the specialization of the “high risk” industry. This specialization does not come at a higher price; in fact, EMB charges industry-standard rates to all of its “high risk” clients, including free trial merchants.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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