How a Mobile Credit Card Reader Helps to Sell Videos
(We just returned from another 6 week speaking tour like the one I reported on this past January. Like the last tour, we sold several hundred books and DVDs using the Square card reader so this article by Dean Cope is very timely. Read on..)
The technology and research company Forrester predicts U.S. mobile payments will surge to $90 billion by the end of 2017. Though mobile card readers were once novelty devices used by individuals and small vendors, big retailers like Starbucks now use them at their stores.
But why should you use them to sell your videos? Here’s a roundup of how mobile credit card readers can help streamline your business and increase sales.
Easy Transactions at Conferences and Vendor Shows
Conferences and vendor shows are a great place to start selling your videos, even though you may be too intimidated to process the sales. Forget about packing up a clunky credit card system.Most mobile card readers have a small attachment that slides on your phone or tablet. Set up your vendor table with your videos, run a sample off your tablet and launch your mobile card reader. You’re up and running and ready for a sale.
Quick Sales and Impulse Buys
What happens if you’re at a coffee shop and start chatting up someone who wants to know about the video camera you’re carrying? Instead of giving him a business card and enticing him to purchase a video from your site, you can sell him on the spot. Explain what your videos do and offer to show a sample on your phone or tablet. Next, get out your mobile mobile credit card reader and make a purchase.
Potential customers are everywhere. You need to be ready to close a sale or risk losing out on business by redirecting them to a site once they get home. You also don’t have to rely on cash or check with an impulse sale.
Low Service Fees
When is the last time you got hit with hidden fees from your bank or paid an annual fee for a business credit card? Unlike banks, most mobile card reader services like Square offer a flat fee per transaction. Rates are typically 1 to 3 percent per cost of the sale. Small fees may be added for punching in credit card numbers manually instead of swiping a card. Flat fees and low rates keep everything transparent and you can automatically figure out how much you owe per sale.
Keep Track of Sales
Mobile credit card reader apps typically offer an online dashboard to keep tabs on sales data. Log in and check how your video sales business is doing over the week and months as needed. You also can set up a reward program for loyal customers. Other apps like Intuit GoPayment offer location-based sales tax calculations and can hook up to QuickBooks if needed.
No Annual Contracts
Unlike traditional credit card processing systems, mobile readers generally don’t impose annual contracts. Service is offered on a month-to-month basis, which creates a low commitment to try out a reader. Not being tied down to a contract gives small business owners the freedom to step into a new sales arena without worrying about sales for six months. Schedule conferences and vendor sales in a two-month block to make the most out of your service. See how it goes and decide if you’re ready to convert to mobile sales.
About the Author
Dean Cope develops apps to fund his snowsports addiction. He got 78 days on the slopes last year.