Ways to Improve Your Online Retail Business

Mar 29, 2016

Retail is hard, regardless of whether you have a brick and mortar store or an online-only business. Online only businesses have extra challenges, thanks to increased chargeback risks and the uncertainty of operating exclusively online. Marketing can also be tough, and while your online retail merchant account can guide you, some ideas of marketing are truly off the cuff.
First off, utilize social media. While you may already do so, you need to hit your targeted areas. Watch who views, shares, and likes your postings, as well as which type of postings garner the most attention. Also, if you purchase social media ads, be sure to choose the demographics you want to target. If you do not do this, the ads will be visible to everyone, which can end up costing you valuable views.
Yelp is also a great source for all businesses – even online-only businesses. Instead of listing an actual address (if you are home-based), list your city and state, as well as your email and website. Post pictures of your offerings, and pricing (if available). Be sure to ask your customers at checkout to review their purchase on Yelp. It also doesn’t hurt to include a reminder on your receipt when you ship their purchase.
Meetup.com is a great way to meet local entrepreneurs. Most of their events are free or low-cost, and the mingling can bring you valuable local business allies as well as new customers. If you have a sign printing business, you can gain a lot of business from local brick and mortar merchants. With the low cost of these events, what do you have to lose?
SuddenlySenior.com is also another great online avenue for marketing. If your goods can benefit senior citizens, post away! Senior citizens are internet savvy, and more and more are choosing to shop online, versus shopping in store. You can gain a very valuable customer base when you hit it off with the senior crowd.
Marketing is hard, but there are ways to improve your online business. While the above ideas have worked for many, do what works best for you and your business. You know your demographics, and there are many low cost ways to target your customers online and in-person.

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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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