Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format. With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

Get it on Amazon (Kindle/Print)

Digital payments may be vital to small business growth

Cash sales cost SMBs 57% more than digital sales

The study, entitled 'Digital Transformation of SMBs: The Future of Commerce', was conducted to examine the opportunities and challenges that small and medium size business (SMB) owners face in an increasingly digital world.

The report aimed to provide a 'snapshot' of how SMBs can capture revenue opportunities and move to more technology-focused processes, and revealed a number of surprises.

Digital Payments Improve Profitability
One immediate opportunity for SMBs to go digital is by digitizing checkout and other business processes. Based on survey responses, Visa estimates that the SMBs' average cost of processing digital payments, inclusive of direct expenses and labor costs, is 57% less than that of non-digital payments.

Furthermore, 65% of SMBs agree customers spend more when they use cards versus cash. 78% of consumers surveyed rank a digital payment method, such as paying with a card or mobile device, as their number one preferred payment option.

Digital Presence for SMBs
According to the report, consumer purchasing behaviour is driven in part by websites and online experiences. More than half of consumers (51%) wish they could shop exclusively online. This has big implications for SMBs, given only 46% of SMBs surveyed have an online presence, such as through a business website or online marketplace.

Today, 38% of consumers' retail purchases are made online, but that number is expected to grow, as 61% of consumers plan to increase their online purchases in the next 5 years. As online purchases continue to increase, it could exacerbate a widening gap, given only 15% of SMBs' sales are conducted through digital channels.

Offers and Increased Loyalty
Only one in five SMBs surveyed offer a loyalty program, yet rewards drive consumer preference and digital programs can offer instant value and gratification. For example:

• 78% of consumers are more likely to choose a business that offers a loyalty program over one that does not and 65% of consumers surveyed said they examine loyalty programs prior to shopping at a store, visiting a restaurant, or trying out a service.
• 90% of consumers prefer a digitally based loyalty program compared to a paper-based stamp or punch card.
• Nearly 80% of businesses say loyalty programs have a positive impact on average ticket size, repeat customers and revenue.

"For small and medium size business owners, the perceived cost, time and tech-proficiency required for building a digital presence can feel like an insurmountable obstacle. But it doesn't have to be," said Jack Forestell, chief product officer, Visa Inc. "More than 80% of consumers surveyed say digital related benefits are motivating factors to shop at a business, yet our research shows SMBs are currently under utilising these preferred digital channels," continued Forestell. "This new report offers actionable ways for SMBs to bridge the gap between consumer expectations and current offerings, resulting in untapped profit and growth in this digital revolution."

The full report has been made available for free online viewing at https://www.visa.com/smbDigital

Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format.

With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

You'll learn to sell yourself, sell your products, and sell your brand on the internet, writing high-conversion landing pages, social media posts, and more. You'll start attracting customers you didn’t even know existed, and learn the top trade secrets for customer retention.

You'll become a lean, mean selling machine. See how the experts do it and learn to adapt what they've done for your own profit. You'll learn to write strong, powerful, effective sales copy, whether it's for a sales script, sales letter, flyer, insert, advert or just about anything else.

You'll learn how to sell whether you're selling by telephone, by mail, or even meeting prospects face-to-face. You'll find out how to size them up, present yourself, nail down their true needs, close the sale, and learn to tackle the tricky ones.

You'll discover the biggest secrets of successful direct mail sellers, sales letter writers, and how to segment and choose the right prospects for each campaign.

Get it on Amazon (Kindle/Print)