Mail Chimp has grow into a nicely profitable huge business…… without taking a single dollar of venture capital over a 15 year slog. This is a unique characteristic of the SMB space, you can take your time to figure out the business and not be too overly concerned of being crowded out by a better funded…
Facebooks newest ad format “Local Ads” are a great way to reach people when they’re near your business, whether that means walking distance or a few miles. But there is one big problem. The ads are not measurable. Facebook cannot provide ROI numbers. So how does a business know if the ads are working to grow revenues? How do you calculate the Life Time Value of customers who are acquired because of Facebook Ads?
We released a Local Ads app on Clover to solve this problem, and can now prove that your Facebook ad campaign really makes people walk into your store and buy stuff. We do this by analyzing purchasing patterns and matching them to your Facebook advertising. You will know if your Facebook ad spend is bringing you valuable customers. It is simple to get started. Connect your Facebook page to our app and create ads in our app. It is very simple – set a budget, choose a photo and then create an engaging offer for the people in your area. We will push the ad to Facebook, and provide the coupon tracking code for Facebook to distribute to customers in your neighborhood. And, we do the rest to prove (or disprove) if the ads are working.
We finally launched the referral rewards program on Clover, now available to all First Data merchants on the Station device and the Mini/Mobile terminals. The response in the first couple of weeks has been phenomenal. It is still early days for our app, but we hope to educate and get the local merchants successful with a type of rewards program that has allowed large Internet companies such as Uber and Dropbox acquire millions of customers virally.
A study by The Wharton School of Business shows that a referred customer is 18 percent more likely to stay with the business over time than the average customer. Description below.
We turned our attention to online merchants this month and released our marketing automation/loyalty/analytics app on two e-commerce platforms. While e-commerce has matured considerably over the last decade, there is still an opportunity for us to make a dent with fully automated and reasonably priced service which will allow merchants to easily personalize the customer shopping experience and…
Video game designers use established techniques to engage players and motivate higher degree of participation. Business owners can apply similar techniques to motivate their customers to act in ways that adds value to their business i.e. increased sales, greater loyalty, word-of-mouth, etc. Some of this can sound complicated and outside the realm of a small business focus….
Over fifty-percent of customers to a retail business visit once and never come back. There is a need to turn these single-visit customers into multi-visit loyal customers. But lacking investment in technology and skilled marketing talent, the average business does not understand how to market to these customers.
BuyFi helps businesses by tapping into customer purchase data within their point-of-sale systems and payment gateways, and use that information to automatically market to customers who have already made purchases from the business by sending messages, offers and promotions to the right customers at the right time. A series of automated campaigns turns single-visit customers into returning customers, and returning customers into multi-visit loyal customers. Businesses retain more of their valuable customers without the need for expensive talent or technology.
Check out @buyfi at the Disrupt SF 2014 Startup Alley! #TCDisrupt http://shar.es/11AfDy
Everywhere you look, someone is peddling a customer loyalty scheme it seems. The most widespread of the loyalty programs has to be airline miles, where you join and grind it out to a questionable reward with black out dates and undesirable routes. The miles have also become a currency for so many other transactions. You get miles…
We have come across several small businesses in the last 30 days that have invested in a CRM system, but don’t really understand them. Small businesses are seeking to mimic large businesses in leveraging technology such as a customer relationship management software system. Their goal is to automate sales and marketing functions, and efficiently manage customer interactions with the business. The good news is that such software has become more affordable and more easily available with the advent of cloud computing. The problem is.. it does not work for most small businesses. Why? Let us break down the problem a bit. The first thing you need to do when you turn to a CRM system is to create a list that is segmented into leads, prospects, customers, and super loyal customers. This is a great start, but just a start. Now you need to wrap a sales process around these customers Read More
Albert Einstein once said, “Strive not to be a success, but rather to be of value.” This mantra is as American as apple pie and baseball, and summarizes the key to how all small-to-medium-sized businesses should be operated. It also summarizes BuyFi’s goal to help these businesses achieve success, because if a business is of value to its customer, success will follow!
To achieve value as a business, you first have to know what your customers value and want, then you have to make sure your business offers that. Next, you need to know how to most effectively let customers and potential customers know that you offer all of that and more. This will help your business achieve success, because customers seek out their values and remain loyal to any business that can fulfill their needs and wants.
Through payment analytics, you can evaluate what your existing customers value, and then make sure to offer more of what they value. With our cloud analytics system, you unlock all of the critical data from your customers’ credit card purchases that helps you understand what it is you’re doing to be of value to your customers, and where you need to improve. You’ll also quickly learn what products your customers don’t value, and can reduce your time spent on these products so you can focus more on what the customers do value. This will help your business be more successful, once you make sure your customers know how much value you offer them because they can turn to you for what they want and need.