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A blog about entrepreneurship, technology and big data » Social Media

A blog about entrepreneurship, technology and big data - Payment Analytics, Social Media Management & Marketing

Social Media Archive

BuyFi partners With Facebook to Offer Local Ads That Can Be Measured

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 fb_localads_logocan 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.


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BeSocial is out on Clover POS

Yay!…. the BeSocial app is now out on Clover POS. BeSocial helps merchants keep track of all their social media sites like facebook, twitter, foursquare, yelp and G+ accounts from a single dashboard. If one were to tweet or post to facebook manually, you would have to be relentless, systematic and very disciplined so your messages arrive when your customers are online. With BeSocial merchants save a ton of time by scheduling their posts ahead of time. BeSocial puts Social Media on Auto Pilot!

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Small Business CRM systems are not effective

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

ISOs: Adapt or Die?

A merchant starting a new business and needs to accept credit cards usually starts with their bank for guidance. The banks either directly offer the processing service or will guide the merchant to a regional or national ISO (Independent Sales Organization). ISOs have become the de-facto way for most small and medium sized businesses to gain the capability of accepting credit cards. ISOs generally offer better rates and greater personalized support than available from the larger banks. So the benefit of ISOs to the small or medium business owner was always clear and unambiguous. Over the past few years, though, that has been changing steadily, and ISOs should see the need to adapt to changing times or risk dying off completely.

It began with Square, Inc., a Silicon Valley startup that pledged it could provide credit card processing to anybody with a smartphone, whether it was for a business or just an individual. By plugging in the small white square-shaped reader to the headphone jack of a smartphone and installing a small app, a person could turn their cell phone into a mobile POS system. PayPal, Groupon and other technology companies also have a deep interest in disrupting the local payments business. The technology companies are able to add value to the merchants business beyond payment acceptance. Groupon for instance can help the business attract new customers through its daily discount marketing program. So where does all of this new competition mean for the ISO business?

It means ISOs must change their conversation with merchants from cost of credit card processing to one of driving greater business value. And there is significant new revenue opportunity to ISOs that are able to make this transition from selling cost to selling value.

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The Importance of Data for Small Business

The “Mom and Pop” shops of yesteryear are dying off, or rather, being killed off by national retailers such as Wal-Mart, McDonald’s, and other national chains. On the surface, it might seem that this death is because of name brand recognition, but is this really all that is happening? After all, our neighborhoods still have the older generations who know and recommend these small businesses, and yet the larger merchants get the majority of the business. Much of this comes down to one crucial detail: the big merchants know their customers better. Read More