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Table of Contents

Lead Story

The payments journey: From point of sale to points of commerce - Part 3

Dale S. Laszig

News

Industry Update

New Briefs

Views

ACH volume tops 25 billion, faster payments advance

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
Finding the right ISO partner

Aaron Nasseh
Finical Inc.

Keep customers happy, improve your bottom line

Mike Ackerman
DigiPay Solutions Inc.

One. Thing. At. A. Time.

Jeff Fortney
Clearent LLC

Help merchants keep travel sales sky high and fraud grounded

Don Bush
Kount Inc.

Company Profile

Platinum Choice Bancard LLC

New Products

EMV-certified, semi-integrated mobile payment solution

Infinea
Infinite Peripherals

Inspiration

Persist, but pay attention

Departments

Letter from the editors

ReadersSpeak

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

May 08, 2017  •  Issue 17:05:01

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Keep customers happy, improve your bottom line

By Mike Ackerman

Competitors may try to copy your business model, products and pricing, but they can't copy you and your unique style of doing business. That's why it makes sense to cultivate your customer relationships. It's well known that it costs more to acquire new customers than to keep existing customers happy. It's also true that customer loyalty is directly tied to customer longevity. Simply put, the longer customers stay with you, the more loyal they become, making it less likely they will leave when your competitors try to lure them away.

When you continuously delight your customers, they will keep coming back. When they are really delighted, they won't think of you as a vendor; they'll think of you as a partner.

Tips to foster longevity

Here are additional ways to foster long-term relationships with customers:

Remember, it's harder to sell a new merchant than to retain one. And your existing merchants are already bringing you residuals ­­– something to always think about.

Mike Ackerman is President of DigiPay Solutions Inc., which specializes in high-risk, high-volume, card-not-present and business-to-business merchant services. Contact him at mike@digipaysolutions.com.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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