Customer relationship management (CRM) software is a tool businesses use to manage and improve their relationships and interactions with existing and potential customers. There are four fundamental types of CRMs: operational, analytical, collaborative, and strategic. Here, we outline the features and benefits of each type of CRM system, including their best use cases and examples,…
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What Is a Convenience Fee & Where Is It Legal?
Convenience fees are charges imposed by merchants on credit card transactions that pass on the cost of accepting credit card payments to customers. However, only merchants whose primary method is anything other than credit cards can impose convenience charges. Some examples are accepting payment for bills, taxes, and event tickets purchased online instead of at…
What Is Deinfluencing? A New Age of Marketing Explained
We all know what influencers are—but in an age of consumer distrust, deinfluencers might hold even more sway.
At the start of the New Year, my social media feeds took a turn toward anti-consumerism as established influencers and new creators alike began “deinfluencing” me. As you might have gleaned from the name of the phenomenon, deinfluencing is when online creators try to convince you not to purchase certain products, exposing why they don’t…
Types of Commercial Real Estate Loans & How They Work
Commercial real estate (CRE) loans are offered as a lending product from banks or other financial institutions to assist in the acquisition, renovation, or construction of commercial properties. CRE is defined as a property that will be utilized for business purposes, such as office spaces, restaurants, retail stores, investment properties, industrial facilities, and more. Who…
What Is Bartering Income? Calculating & Reporting Examples
Bartering income is the value of goods or services received in exchange for goods or services you provide. The value of the property or services received is treated like cash and is subject to tax. An example of bartered services would be rent reduction in exchange for repairs or improvements to the rental property performed…
Retail Mobile Marketing: Create a Strategy to Drive In-store Sales
Retail mobile marketing is targeted campaigns and promotions delivered to customers on their mobile devices via push notifications, SMS messages, and branded apps. The idea behind mobile marketing is that it meets consumers where they already are—on their phones—getting products in front of them, incentivizing them to buy, and even driving them into your store….
What Are Omnichannel Payments & How Do They Work?
Omnichannel payments allow customers to complete their purchase (or even request a refund) on any one of a merchant’s selling platforms—in-store, online, mobile, or over the phone—regardless of where they started their buying journey. Omnichannel payments are a key component of omnichannel sales. The omnichannel sales strategy, including omnichannel payments, focuses on improving the customer…
What Is Agile Supply Chain? Benefits & Strategies for SMBs
An agile supply chain is designed to be flexible and responsive to ever-changing consumer preferences, market trends, and logistics challenges, ensuring the entire product lifecycle—from production to delivery—is efficiently managed. This approach allows small businesses to optimize supply chain resilience, sales, resources, profit, and growth by staying adaptable in a dynamic landscape. Agile Supply Chain…