Don't have a bad check problem? Good! Want more sales? Of course you do. If you've read any of my previous blog posts, you know that one of the main reasons I look forward to Market each year is the opportunity to interact with current and future clients. (Free waffles don't hurt, either!)
Sometimes these interactions with home furnishing retailers involve educating a business owner on what it is my company really does. See, there’s this misconception among some that all CrossCheck does is solve bad check problems. While our services do help businesses mitigate the risk associated with check acceptance, the primary goal of our check guarantee services is to help businesses increase sales and improve cash flow.
Here are three ways we do that:
Accept more checks and you'll make more sales. Does this situation sound familiar? A business owner turns down a check from someone who is unfamiliar. Maybe the customer is from out-of-town or out-of state. Each time a decision is made to not accept a check as a form of payment, a sale is potentially lost. In addition, the check writer may choose to take his or her business elsewhere; maybe even to a direct competitor. (Ouch!) With a check guarantee service in place, you don't need to turn customers away. Checks from unfamiliar customers can be guaranteed in seconds. Welcome checks and you'll keep customers from walking out the door.
Electronic check processing saves time and that saves your business money. Here's another way where a check guarantee service really helps a business. With electronic check processing, such as a remote deposit capture service, checks are accepted, converted into electronic funds and deposited into your business account with no trips to the bank. For usually less than the cost of credit card processing, you get the convenience of desktop deposit along with check guarantee. This saves the cost of sending someone to the bank, adding up deposit slips and reconciling accounts from different branches or banks.
With check guarantee, offer your customers payment flexibility. Another tool that can increase sales is a 90 Day Multiple Check option. This is a great alternative to traditional financing for customers who are credit challenged or just need some extra time to gather funds. This non-credit based solution allows a customer to pay over an extended period of time by letting them write 2 - 4 checks to deposit over 90 days. This is a great solution for the business and the customer as they don't need to wait to take their purchase home.
So think about a check guarantee program as an important part of your sales strategy. We have lots of ways to help your business and if you're at the Market this week, stop by and see me in the Retail Resource Center. If not, send me a note and I'll provide a free consultation.