Your customer base is the heart of your business success. By appealing to as many demographics as possible, you expand your potential and make it possible to pursue your aspirations for success and growth. Depending on your products and services, your business may be specifically targeted to an older audience. If your niche is broader, however, it is important to recognize the buying power of younger consumers and do what you can to appeal to them so you can take advantage of their influence.
Today’s consumers between the ages of 18 and 24 are making more purchase decisions that ever. They are more affluent than in previous generations and also more independent, meaning they are purchasing more products and services on their own. This matters to you not just because these young consumers are potential customers to add to your base, but also because they can influence the way you market and sell your products and services.
One of the most important issues to consider when it comes to young consumers is the way they view payments. Studies have shown they are far more willing to try new types of payment options than older buyers. This not only makes it possible for you to expand with the knowledge that your younger audience will follow you in this new technology, but gives you the obligation to keep up with these new technologies. Young consumers expect the companies they do business with to stay current. If you want to appeal to them, you need to show them that you are contemporary, versatile, and doing what you can to make purchases as easy and convenient for them as possible. Wireless credit card terminals have simplified the task of processing debit and credit card payments, but there are many other options for encouraging younger customers to see you as a relevant and modern business.
Mobile payment processing takes advantage of the pervasive cell phone culture by allowing consumers to make purchases right from their phone or tablet. Cell phone credit card processing is easy to implement in your business using an online merchant account and gives your customers the sense that you are always available when they find themselves in need of the types of products and services you have to offer.
Even “older” payment methods can be constantly updated. For example, when it comes to checks, one of the simplest forms of advanced payment options is check by phone. This method lets you process check payments from your customers without them actually having to bring you a physical check. This is ideal for accepting payments from services or down payments that do not necessarily require direct interaction with your customers. This type of payment, however, only appeals to customers in very specific situations and may actually have very little influence on younger consumers since many of this generation do not even have checks.
Call 800-719-9198 to discuss changing up your payment options; and how we can help you start building a business that appeals to all generations.