Researching and targeting audiences with marketing has become easier for small businesses. With the help of Facebook, businesses with small budgets can reach more people with their message. Just like with other marketing methods, there are ways to optimize the return on investment using Facebook marketing. There are also methods businesses can use to track the performance of social advertising. A/B Testing Ads A/B testing is the testing of two similar ads. In this case, A/B Testing is … Read More
Social Media Changing Customer Service: What You Need to Know
Social media has, without a doubt, changed how businesses interact with their customers. Companies who take advantage of social media generally experience increased customer satisfaction. According to Nielsen’s “State of the Media – The Social Media Report 2012“, almost half of U.S. consumers use social media to ask questions, express satisfaction or address problems with products or services. One-third of social media users prefer “Social Care” to the phone. Social media should be considered a major element of … Read More
Are You Covering the Basics with Chargebacks?
According to Nielsen, merchants lost $16B in revenue to fraud in 2014. That’s a big number. With all of the data breaches lately it seems to make sense, but that’s a poor assumption to make. Lexis Nexis was able to uncover in their 2014 True Cost of Fraud Study. Turns out only 16% of fraud is attributable to identity theft. 14% was not clearly definable by merchants which leaves 70% of fraud or $11.2B in 2014 needed to be prevented by addressing … Read More
Even Soulja Boy Experiences Chargebacks
Chargebacks can happen to anyone. In the case of Soulja Boy, rapper/merchant of hoverboards, fraudulent chargebacks occurred to the tune (pun intended) of about $174,440. That’s some pretty serious dough. In most cases of chargeback fraud, merchant processors typically refund the cardholder their money with little evidence of fraudulent intention from the cardholder. For merchants, this can cause some serious headaches. via GIPHY Not all fraudulent transactions are intentional. However, in some cases, credit cards are legitimately … Read More
Shipping Rates Set to Rise, Here’s What You Need to Know
UPS Shipping Rates Increase in 2016 As of December 28, 2015, UPS has updated their shipping rates. Merchants can now expect to pay a little more for their shipments. UPS has stated that the increase in shipping rates will support the ongoing expansion and maintenance of their service for 2016. They are planning to expand their Next Day Air® Early service to 4,500 new zip codes. This enhancement follows their recent expansion of UPS Worldwide Express by … Read More
What is a CRM (Customer Relationship Management) System?
Ok, so your business is growing. Your need to track and manage your clients is increasing and the spreadsheet you’re using is becoming more of a time-consuming, error prone hassle. If this sounds familiar, chances are you’re in need of a Customer Relationship Management System (CRM). What is a CRM? Simply explained, a CRM allows you to store contact details and interactions between your business and your customers. A lot of a CRM’s value is derived … Read More
Scott Stone: A Relationship Creator
We come in contact with numerous people throughout our lives, and one of the key aspects of ensuring you’re successful in your work life is developing good relationships with the people you know. And nobody knows that better than Scott Stone. As Chargeback’s CMO, he knows it all boils down to relationships. His focus is creating and maintaining good customer-client relationships as well as internally with his co-workers. Stone has been in sales and marketing for … Read More
Visa Chargeback Monitoring Program
Prior to January 2016, Visa provided two programs for high-risk merchants who experience a high volume of chargebacks, the U.S. Merchant Chargeback Monitoring Program and the Global Merchant Chargeback Monitoring Program. Those two programs have been combined into a single program that adopts the stricter elements among the two. Here’s what you need to know. U.S. Merchant Chargeback Monitoring Program The first program was focused on merchants who operate within the United States. This program was known as U.S. Merchant Chargeback … Read More
Average Chargeback Rates: How Does Your Business Compare?
Your chargeback rate can enhance or diminish your business. It’ll depend if your rate is near the ‘high-risk merchant’ benchmark. That affects how many credit card processing companies will work with you. It even affects the charges you receive from these companies. In addition, it gets worse if you don’t manage chargebacks well. One solution is equipping merchants for real-time dispute resolution. That’s one of several features the Chargeback App provides to merchants. Another solution is knowing … Read More
Top 10 Reasons for a Product Return
Let me first say this: a product return isn’t necessarily a bad thing. I say that with confidence…and it’s based on a six-year study from the University of North Carolina’s Flagler Business School. The study was done in 2009, but it’s still groundbreaking today. After all, the school looked at the return rates from various companies. And it turns out that there’s actually a “sweet spot” that equates to higher profits per customer sales. One company … Read More