The average credit card processing fee for in-person transactions is around 2%. For online and card-not-present payments, the average fee is closer to 3%. Larger businesses are able to negotiate or qualify for volume discounts, so their rates are typically lower. Small businesses, on the other hand, could pay rates that are slightly higher. For…
POS Reconciliation & How It’s Done in 6 Steps
POS reconciliation is the process of manually checking your POS sales records against your cash on hand and credit card processing statements to ensure there are no discrepancies. POS reconciliation can be done anytime, but more frequent audits ensure any disparities are identified and fixed right away. For most businesses, the best practice is often…
Calculating Customer Retention Rate & 7 Driving Strategies
Customer retention rate is the percent of current customers you are able to keep over a certain period of time. In a classic report from Bain & Company and Harvard Business School, they found “increasing customer retention rates by 5% increases profits by 25% to 95%.” Not only that, but repeat customers spend more per…
14 Effective POS Marketing Tips for Driving Sales
Point-of-sale or POS marketing refers to the merchandising and promotional efforts around the register or the online cart and checkout pages. It seeks to influence customers by positioning small, low-cost items around the checkout area to drive impulse buys. This marketing strategy not only catches customers when they are poised to make a purchase, but…
How to Sell Products on Facebook in 6 Simple Steps
To sell products on Facebook, you first need a dedicated Facebook page for your business (not your personal page). Next, either connect your ecommerce platform to Facebook or build your Facebook Shop manually. You have the option to sell in Facebook Marketplace or Facebook Groups. Finally, you’ll want to market your products and your Facebook…
ShipMonk 2021 Review: Fulfillment Services, Pricing, and Alternatives
is a third-party logistics company (3PL) for small and medium-sized businesses that provides warehousing, order fulfillment, and shipping solutions. It enables business owners to focus on achieving scalable growth by outsourcing labor-intensive tasks to a specialized provider. ShipMonk’s tech-forward platform aims to reduce fulfillment costs and increase operational accuracy through robotic automation and advanced WMS…
7 Best Virtual Terminals for Small Businesses in 2021
While ecommerce and online ordering has stolen the show, there are still instances where you’ll need to accept an order over the phone or by mail. A virtual terminal lets store owners manually key in credit card numbers when they receive phone or invoice orders. Secure virtual terminals are available from almost any payment processor,…
Red Stag 2021 Review: Fulfillment Services, Pricing, and Alternatives
is a third-party logistics (3PL) company for online merchants and internet retailers. It provides warehousing, order fulfillment, and shipping solutions to small and medium-sized businesses. The company’s unique approach to fulfillment focuses on special-handling needs to best accommodate oversized, heavy, high-value, or fragile products. Red Stag offers a 100% guarantee for receiving, inventory, and order…
6 Best Third-Party Logistics (3PL) Companies for Small Businesses in 2021
Third-party logistics (3PL) companies deliver various outsourced, end-to-end logistics services such as inventory management, order fulfillment, shipping, freight distribution, and import/export. And they aren’t reserved only for enterprise-level businesses with large budgets. Many startups and small businesses find it more efficient and economical to outsource fulfillment and freight logistics tasks to 3PL companies. If you’re…
How to Integrate WooCommerce With QuickBooks in 3 Steps
Although there is no native integration between WooCommerce and QuickBooks, there are third-party plugin solutions. Each plugin works differently—some offer two-way data transfer—and each supports different versions of QuickBooks, so you need to choose the right one for your business’ needs. The four most popular plugin options for integrating WooCommerce with QuickBooks are: We’ll walk…
GetSwift Review: Is GetSwift Delivery Right for Your Business?
is a browser- and app-based delivery management system for small to enterprise-level restaurant, retail, and courier businesses. Starting at 29 cents per delivery, GetSwift offers real-time managing, dispatching, and tracking capabilities. It integrates with several point-of-sale (POS) systems, and you can build additional integrations via the platform’s open API. When to Use GetSwift GetSwift is…
Imonggo Review: Is This POS System Right for Your Business?
Imonggo is a straightforward POS system for small shops that need strong inventory tools and a points-based loyalty program. It doesn’t offer as many features as the software on our best POS systems list, but it’s easy to use and has international sales features. It integrates with Shopify or offers a simple online store for…