“Business Tips” Posts

How MCC and SIC Codes Impact Credit Card Processing

How MCC and SIC Codes Impact Credit Card Processing

It’s no surprise that there are various types of businesses. However, you might not know that there’s a formal classification system for businesses that can impact their credit card processing. Businesses are mapped to their respective industries through an Standard Industrial Classification Code (SIC) and Merchant Category Code (MCC). SIC codes are managed by the U.S. Department of Commerce and used by the IRS and processing banks, while MCC codes are issued by the credit card brands (Visa, MasterCard, Discover and Amex). While these four-digit numbers sometimes overlap and sometimes differ, they both categorize a business by…

How to Successfully Map Your Customer Journey

How to Successfully Map Your Customer Journey

Previously, we’ve discussed the importance of understanding the customer journey. Simply put, the customer journey is the set of experiences a potential customer has as he builds a relationship with your brand. The journey spans the following stages: Awareness: Encountering your brand’s products, services and values Engagement: Interacting more deliberately with your company Transaction: Becoming a paying customer Retention: Developing brand loyalty for your business Brand interactions that could move customers through these stages are called touchpoints. Businesses need to understand how their customers move through this process (or why and where they stop) to develop an actionable…

How to Leverage Graphic Design to Grow Your Business

How to Leverage Graphic Design to Grow Your Business

If you run a business, you already know the importance of constant improvement. Finding ways to better serve your customers, stand apart from the competition and increase sales are all top priorities. However, you may be surprised to hear that graphic design can do all these things for your business. While many people think design is simply about making things look visually appealing, effective design goes beyond aesthetics. In this article we’ll go over concepts that can transform your designs from simply looking good to serving as effective growth tools. How Honest Tea Used Graphic Design to Grow Its…

4 Stages of the Customer Journey for Your Small Business

4 Stages of the Customer Journey for Your Small Business

If you’ve never heard of a “customer journey,” you’re not alone. Understanding this concept is crucial, however, to develop a seamless experience that ensures that your customers are not only being found but retained long-term. So what is the customer journey? In essence, figuring out your customer's journey through the sales pipeline is understanding their experiences and being aware of their interactions with your business both geographically and across a number of other mediums. Understanding the customer journey as a business owner is the first step toward fostering the flow of customer experiences and gaining a deeper understanding…

Does Your Brick-and-Mortar Business Need an Online Presence?

Does Your Brick-and-Mortar Business Need an Online Presence?

Small businesses have limited time and resources and are often stretched thin in multiple departments. Business owners need to be sure that they’re investing in valuable strategies and not getting caught up with the latest fad. Concerns over cost and the true necessity of an online presence top the list of reasons why almost half of small businesses haven’t set up a website. Does a small operation really need to go digital? The short answer is yes. The internet and social media are here to stay, and ignoring them means walking away from significant marketing power. Here are…