Credit card payments have become the norm in the business world. Therefore, you probably receive the bulk of your payments from customers that way. You also probably lose a lot of money in credit card processing fees. A cash discount might be the perfect solution for that.
What Is a Cash Discount?
A cash discount is an incentive for your customers to pay with cash as opposed to credit cards. What you’ll do is offer them a discount on their products and services if they will agree to pay you with money.
Many benefits come with offering a cash discount. For one, your customers will see it as an opportunity to receive a deal. That gesture alone will build loyalty for your company over time. Additionally, your business will save money every time one of your customers chooses to pay with cash. You won’t have to pay the credit card processing fees. The process is an overall win-win process that you should try immediately.
You can use several ways to implement your new strategy. One way is to offer it to each customer. You can send a mass email or text to all of your clients. In addition to asking those clients to refer to the cash discount offer to other clients and potential clients. We can help you market this idea to your clients and spread the word.
We at Premier Business Advantage have been working with business owners since 1998 to make them more profitable and productive. Our agents are always finding new ways for business entities to save money, build clients, and succeed in their ventures. Contact us today for business analysis and some information on the cash discount strategy and other techniques.