With gas prices at their lowest in a decade, many consumers are finding themselves with a much-appreciated boost in expendable income. While this translates into bad news for the oil and gas industry, retailers and other businesses are enjoying a season in which their customers have more money to spend. Those extra dollars affect businesses of all types, including restaurants, retailers, and home improvement. As a leader in merchant account solutions, AVPS wants our clients to make the most of this trend, and capitalize on a customer base with a little bit more money in their pockets. Here are some ideas for making the most of those low gas prices:
- Amp up advertising efforts. During the post-holiday season, we often see a drop in small business advertising. However, now your customers have more time and money, and you want them to keep your business in mind. You can even be direct and base your ads on the premise that with low gas prices, now is the time to take advantage and make that purchase.
- Offer specials or sales. For a customer on the fence about a purchase, a perceived deal in conjunction with extra money will likely tip the odds in your favor.
- Understand what’s on the horizon for your customers. Spring is just around the corner, and its arrival ushers in a season of activity, especially for home and garden, weddings, graduations, new wardrobes, and more. Market the products and services which are most likely to capture your customers interest at this time.
- Make sure your operations and inventory are always at top notch, making your business look and perform its best.
While these are just a few ideas for making the most of current economic trends, you should treat each and every season as an opportunity for growth and improvement. As a company specializing in business merchant services, we truly want to support our clients in the journeys to success. Remember that we are here to help you make the most of your merchant bank account, and we are the go-to source for payment processing solutions.