As millennials continue to come of age, and claim their share as the biggest-spending cohort, attention is shifting to figuring out what that means for the small businesses hoping to make their payment processing fit for them. There is much ado about what makes a millennial’s approach to shopping and payments different, and what the best credit card processing companies for small business can do to cater to their unique views, their association with technology, and what that means for both online and in-store shopping.
Possibly from growing up in a hyper-connected world where opinions and reviews are easier than ever to come by, it’s important to make sure that your products and your store is able to accommodate the average millennial’s skeptical inquiry into the “rating” of products. Naturally, this comes into play with eCommerce. If you’re selling things, be sure that your website displays ratings in an easy-to-find way.
For in-store purchases, run with this hunger for ratings and info. If, for example, you sell something that is highly rated online, put up a sign that shows it! “2,000 5-star reviews on Amazon!” for example. This validation may be the thing that pushes a person to buy. You can even go all-out with QR codes on prominent products, which most people will know what to do with. These can link to in-depth descriptions on your website, for a truly interactive shopping experience!
Likewise, when a product is loved by a millennial, they share it (or talk about it) in some fashion, whether that’s in real life, or online. In order to reap the benefits of this tendency of millennials to speak their mind about the stuff they love, make sure you give easy opportunity to share. Up your website’s share game with quick, easy social sharing integrations, with snappy messaging: “look what I just bought!”
In store, you can bump up the social aspect of your shopping experience with cool, simple referrals: a 5% off for a friend card, for example, that bags them a free gift of some kind. Some of the best POS systems go further, enabling you to ditch the card for e-referral systems, that carry the added benefit of making the whole referral transaction faster.
Last of all, if you want to speak the language of your millennial customers, that you go with the added flow of technology. New ways of paying mean that you’ll have to accept a wider variety of payments, from NFC payments, to the standard payment cards, and more. This means that you’ll have to have the best credit card processing company for small businesses, in order to have the tech to accept what comes at you. Moolah understands this, and integrates with the hardware and software you want to use. It’s the millennials’ world. Maye sure your tech is speaking to them!