New marketing strategies create a growing need for payment integration
December 04, 2013

Integrated payment systems are a valuable complement to multi-channel marketing strategies in the U.S. small-business sector. Retailers, restaurants, in-home service companies and other enterprises in a wide variety of industries are experimenting with efforts to expand the scope of their traditional operations more than ever before.

The online marketing company Constant Contact recently announced its top three trend forecasts for small and medium-sized enterprises in 2014. No. 2 on the list was the expectation that mobile commerce will become make the move from a innovative business strategy utilized by only a small handful of risk-takers into an industry given. Changing consumer behaviors have made it increasingly necessary for stores and service providers to incorporate additional marketing channels into their long-term strategies.

"2014 is the year the mobile commerce becomes standard for small businesses," Andy Miller, director of innovation at Constant Contact, stated in a press release. "Small businesses will need to react quickly to the shift in consumer expectations, as consumers will demand mobile [point of sale] and payments in droves from businesses large and small. The good news for small businesses is that the technology driving mobile POS has come a long way in the past few years, and 'going mobile' with POS is not a behemoth task to accomplish."

Data compiled by the professional services firm BDO USA said the growing popularity of shopping on smartphones and tablet devices among consumers will also lead many businesses to focus on offering mobile coupons in 2014. In fact, 28 percent of responding retailers said their marketing budgets focused on these initiatives in 2013 as opposed to only 20 percent in 2012.

As small and medium-sized businesses open up additional marketing channels, integrated payment systems can help store owners and employees keep better track of financial information. The ability to manage data in one centralized system can result in long-term cost-savings as well.

Nexus: G-WEBCD1