Today we discuss the impact different methods of payment have on customers and the way we do business.

Methods of payment and the experiences around them

We admit payment methods aren’t a sexy topic like unboxing or social media engagement. And that’s why this part of the customer experience is so often overlooked! But trust on this one: It’s huge.

So how does method of payment fit in, and how much of an impact does it have on your customer experience? Would you know? From those holding up the line writing old-fashioned checks to those throwing a fit because they can’t use their AMEX, it’s typically your front-line staff that takes the heat. Have you thought of your payment methods as a driver for attracting or losing your best customers?

For larger companies, it’s easier to provide numerous payment options to help provide the best experiences for everyone. But many smaller and growing companies need to choose. It means striking the right balance between customer demands and making a realistic assessment of the resources you have to deliver. You also need to consider how it affects your staff, especially in hospitality-based businesses where employees thrive on tips.

Is it worth the time, resources and risks involved to continue accepting cash, checks or special cards? And how can you keep customers happy if you decide to make changes? Maybe there’s an app that will help eliminate some of your biggest challenges around payment.

Listen in and decide (carefully) for yourself!

Related Content

• 360Connext® post, How Stripe Features the End-User Experience to Enhance B2B Sales
• Customers That Stick® post, On Keeping the Customer but Losing the Business
• Episode 115: Do Loyalty Programs Still Work?

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Take care of yourself and take care of your customers.

 

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