How Predictive-Marketing Tools and An eCommerce Merchant Account Can Keep You in the Game

Feb 24, 2016

In today’s market, collecting and interpreting consumer data is extremely important to a business’ survival. But hiring a data specialist is an expensive option that many small or medium-sized companies simply can’t afford. That’s why predictive-marketing analytics tools are a hot commodity that many businesses are utilizing. These tools help companies study data to predict future shopper behavior, the things they may purchase, how much they will buy and how much they will spend. The following are a few advantages to using predictive marketing tools.

5 Reasons to Use Predictive Marketing Tools

Boosts Customer Engagement and Revenue: Predictive marketing can increase revenue by filtering and organizing data, so that companies know which campaigns resonate with shoppers. Successful analytics will lead to well-targeted marketing campaigns that predict what customers may want based on their purchasing patterns. This converts shoppers into buyers.

Fosters Competition: Merchants help smaller ecommerce merchants compete with larger chains. Predictive marketing tools enable small companies to create product recommendations to consumers. Affordable SaaS solutions can generate algorithms to provide real-time, personalized offers for individual customers.

Predicts Shopper Responses: Algorithms by predictive marketing tools can predict shopper response to communications, and the impact of messaging. These algorithms allow marketers to find the most successful messages for campaigns.

Save Marketing Dollars: Once a company knows what messages work, they can avoid wasting money on random prospects. As a result, companies can save advertising dollars.

Betters Lead Scoring. Increased lead scoring ranks prospects on their perceived value. This prioritizes leads for companies and helps them funnel their dollars to the sales department to find more profitable contacts and follow up. Other measurements that predictive tools can unearth are promotion response, customer lifetime revenue, and profitability.

EMB has helped many types of merchants expand their customer base and drastically increase sales. Now ecommerce merchants can find a credible payment processor that offers long-term solutions and support in the era of predictive tools. Call us at 1-800-621-4893 to open your new ecommerce merchant account. Your company must have progressive payment processing to stay competitive in the coming years.

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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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