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Summary: Northern Leasing Systems
Information on leasing, POS and business issues for small and mid-sized retailers.
Government Contracting for Small Business: Part One
Government contracting programs have grown from $182 billion in 1998 to nearly $400 billion in 2008. In 2007, $83 billion of this went to small businesses This is the first in a series of blogs that will help you understand how to tap into this source of business.
How the Government Buys
Unlike private sector buyers, the Federal Government has an extraordinarily transparent purchasing system. All of the rules and regulations are clear to everyone from the beginning.
When any Federal agency buys products or services, it must follow Federal Acquisition Regulations (FAR), a standardized set of regulations that establish procedures for every step in the procurement process.
Commercial opportunities are posted at FedBizOpps, the Government's one-stop virtual marketplace. The website allows potential suppliers to identify contracting opportunities. Agencies are required to post buying requirements for contracts expected to exceed $25,000.
When a government office wants to purchase products or services, they frequently search the Central Contractor Registration (CCR) database of companies wanting to do business with the government. It is important to register your business on CCR.
Federal purchases above $3,000 but under $100,000 must be reserved for small businesses, All purchases of up to $3,000 are classified as "micro-purchases" and can be made without obtaining competitive quotes. These purchases are not necessarily reserved for small businesses, and, importantly, agencies can make these purchases using a government credit card.
Suppliers wishing to participate in these programs must provide a sealed bid, which is then opened in a public forum where the information is recorded.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Buy Online, Pickup In Store
A recent survey from eMarketer indicates that buy online, pick up in store is desired by consumers although few retailers can successfully implement it. This is an area where smaller, boutique retailers could provide a service that out-services the big box retailers.
Consumers desire convenience and security—if they buy online they want to pick up and return to the store. This can be a major inventory challenge for larger retailers. But boutique retailers, with smaller, more specialized inventory, can accommodate consumers.
For more information, read the eMarketer article Examining In-Store Pickup Options.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Defeating Credit Card Fraud
Credit card fraud is an issue that can threaten the very livelihood of a small retailer. Much of the credit card fraud occurs during face-to-face transactions, although many thieves have tampered with the actual POS systems to "skim" off credit card information as the cards are read.
In general, experts agree that the best ways to prevent credit card fraud are:
- Screen employees thoroughly before hiring
- Keep employees trained in the methods of fraud and insure they know what to watch for
- Keep equipment up to date, as newer methods of security are built into newer card processing software and hardware
For more information, read the white paper at the Northern Leasing Web Site.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Are Contactless Payments Secure?
Contactless payment, as implemented by industry leaders American Express, MasterCard and Visa, is very secure. The financial payments networks used to process contactless payments are the same networks that process millions of magnetic stripe transactions securely today. The primary difference is that the contactless payment device (card, fob or other form factor) uses radio frequency (RF) technology to send payment account information to the merchant’s point-of-sale (POS) terminal, instead of requiring the payment card’s magnetic stripe to be swiped. Contactless payment devices are designed to operate at very short ranges–less than 2-4 inches–so that the consumer needs to make a deliberate effort to initiate the payment transaction.
In addition, the financial payments industry has designed multiple layers of security throughout the traditional credit and debit payment systems to protect all parties involved in a payment transaction. Most of these protective measures are independent of the technology used to transfer the consumer payment account information from the payment card or device to the merchant POS terminal and are used for both magnetic stripe and contactless transactions. For example, online authorization, risk management and fraud detection systems are used to detect potential fraudulent activity for any credit or debit card payment transaction. Plus, the liability policies which protect consumers for traditional consumer credit and debit accounts also apply to contactless transactions.
Furthermore, information from a contactless payment device cannot be transferred to a conventional, magnetic-strip device, which virtually eliminates the incidence of manufacturing fraudulent cards. If a criminal tries to pay for any purchase using a magnetic stripe card programmed with illicitly captured contactless payment information, the transaction will be denied by the issuer authorization system.
For more information, read the white paper found at Northern Leasing Systems.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Contactless Payment Technology
In 2005, contactless payments began in earnest with a number of retailers offering consumers the ability to use "smart cards" for everything from retail purchases to transit payments.
Contactless payments use smart chip technology that relies on a secure microcontroller, internal memory, and a small antenna embedded in a device that communicates with a reader through a radio frequency (RF) interface.
IMS Research is predicting that 1 billion smart cards will be shipped per year by 2014, and that between 2008 and 2014, the market for smart cards is expected to double, with smaller schemes employing microcontroller-based cards leading the way, such as drivers licenses, health care, national ID and e-passports.
What does all of this mean? Expect to continue to see new, innovative uses for the technology. And, as it becomes more ubiquitous, expect to see consumer demand increase do to the convenience and ease of uses of this technology.
For more information, read the white paper at Northern Leasing Systems.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Multi-Channel Marketing Challenges
Emarketer presents an interview with Fiona Dias, Executive Vice President, Partner Strategy and Marketing GSI Commerce who talks about the challenges of multi-channel marketing. Ms. Dias explores some of the inventory challenges affecting retailers in implementing a buy/order online-pick up at store strategy.
Read Overcoming Multi-Channel Hurdles at eMarketer.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Tips for Consumer-Centric Retail Operation
A report published by the NRF (National Retail Federation) provides tips for retailers to become a more “consumer-centric” operation. Intense competition, the blurring of traditionally vertical channels and an explosion of market noise has resulted in consumer’s taking more control. This has led to a relentless focus on price as a basis for evaluating competing retailers—not an ideal situation. Retailers can combat this trend by becoming more consumer-centric. Below are three tips for becoming more consumer-centric.
1. To succeed at consumer centricity, commit now.
The most successful retailers have adopted and live by a consumer-centric strategy. This can provide a strong first-mover advantage.
2. Gather and use information from your customers.
Analysis and insights are important, but it is execution that will win the battle. Gathering “market intelligence” doesn’t have to be difficult. It can be as simple as asking your customers a few questions, or having them fill out a simple survey. The key is to focus on one area for improvement, collect the information, and then act on it.
3. Rely on your suppliers and manufacturers.
If you have a limited (or no) budget for gathering consumer data, see if the manufacturer can provide consumer insights. The best programs are a result of good collaboration between retailers and manufacturers. Often, they have a world of information that they can share.
A fifteen page report on becoming a more consumer-centric organization is is available at the NRF website.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Three Steps for Getting Started with Social Marketing
Social media marketing can be an inexpensive way to raise the visibility of your brand and build a loyal following. Here are three steps to using social media for market your retail business.
#1: Create profiles on social networking sites. Make sure to put up a Google profile, a LinkedIn profile and a page at Facebook. For retailers with a local and/or regional presence make sure to build a profile at Google Local Business, Yahoo Local and MerchantCircle.com.
#2: Use social networking for special offers. Many retailers are experiencing great success offering special promotions via Twitter and Facebook. Limited-time offers exclusive to fans and followers of those sites work best.
#3: Build your Facebook page into a gathering place for customers. Feature special offers, coupons, discussions, photo galleries and reviews. Remember, though, that you need to make it someone's job to interact with customers who visit. And added benefit--you can run inexpensive ads on Facebook that are very highly targeted.
Make sure to make someone in your company responsible for interacting with customers through social media, and make sure they have the time to do it justice.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Leasing Equipment for Credit and Debit Card Processing
Establishing credit and debit card transaction processing involves interactions with a number of partner organizations, including credit and debit transaction processors, Independent Sales Organizations (ISOs), equipment vendors and lease financiers.
- Transaction processors receive a
per-transaction payment for their services based on the total
number and transaction amount “batched” and processed each month
for merchants.
- ISOs receive an up-front commission
for bringing together the transaction processors, equipment
vendors and lease financiers in a relationship.
- Equipment vendors provide the actual
equipment for transaction processing
- Micro-ticket lease financing companies provide an option for acquiring the equipment needed. Rather than purchase it outright, a lease financing company will purchase the equipment and lease it back.
Northern Leasing Systems Technology for Happier Customers
Normal 0 false false false MicrosoftInternetExplorer4 Businesses process billions of dollars in credit card payments with Northern Leasing Systems each year. And as consumers grow increasingly comfortable with using their credit cards online, annual sales volume is expected to continue growing. But, there is a potential dark specter looming over the industry: credit card fraud. It can manifest in different ways and be financially devastating for its victims. The problem has prompted the credit card industry to aggressively pursue and adopt stringent security protocols according to Merchant Processors Northern Leasing Systems.
Northern Leasing Systems can help
secure your customers' data. In doing so, you can boost their
confidence and your sales in the process.
Northern Leasing Systems Merchant Account Processing Fees
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Today, more consumers are using debit cards to purchase items. While many Northern Leasing Systems merchants know that accepting debit card transactions will lower their payment processing fees, they often fail to realize that there are different types of debit card transactions, each with different fees. Below, we'll describe the difference between accepting debit cards and credit cards with Northern Leasing Systems. You'll also learn how you can lower your fees even further by accepting direct debit transactions. In order to accept credit card payments, merchants need to have a payment processing method available to them. Typically, this means having use of a merchant account with Northern Leasing Systems.
Northern Leasing Systems Boosting Consumer Confidence
Normal 0 false false false MicrosoftInternetExplorer4 Don't underestimate the power of boosting your customers' confidence by opening a Northern Leasing Systems merchant account. As more people become aware of the potential dangers of credit card fraud, some have begun to limit use of their cards. As a business owner, this can have an impact on your sales. Having the ability to process payments online with a Northern Leasing Systems Account is important. The more confident they are that purchasing from your website won't compromise their credit card information, the more likely they are to buy.
There are a number of companies that can provide an SSL certificate for online payment processing such as Northern Leasing Systems. Many of the most reputable companies in the world use them, as do several small businesses. As a result, millions of people are familiar with the security associated with Northern Leasing. It increases their confidence. And that can make the difference between a floundering online business and a formidable success
Northern Leasing Accounts
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In order to accept credit cards either online or through your physical storefront, one of the things you are going to need is an account with a Northern Leasing credit card processing provider. A Credit Card Processing Provider is a company that manages the interface between your credit card terminal or shopping cart software and the Visa/Master network.
Since you are paying a portion of each credit card transaction to your Northern Leasing Systems Inc credit card processing provider, it is important that you fully understand the services that your provider offers and how much you are going to pay for these services.
The rate that you will be charged by Northern Leasing Systems depends upon many factors including the type of product or service you sell and the amount of the average sales transaction. Using this information you can shop around to find a credit card processing provider that offers you the best value for the least money.
Northern Leasing Systems, New Seastone Study Finds Gift Card Packaging Increases Gift Card Sales
Northern Leasing Systems, New Seastone Study Finds Gift Card Packaging Increases Gift Card Sales: 84 Percent of Consumers More Likely to Purchase a Gift Card that
PROVO, Utah (Business Wire EON) March 24, 2008 -- "Gift card packaging has grown rapidly as a retail product category over the past few years, and this survey shows that consumer awareness is very high - 88 percent of gift card purchasers are now aware of special packaging," said Eric Child, Seastone President. "Retailers that do not offer gift card packaging are missing a significant revenue opportunity, since consumers are more likely to purchase a gift card if it either comes with free packaging or if packaging is available for purchase."
The highest numbers of consumers are more likely to purchase a gift card if it comes with free packaging (84%), but many are also more likely to buy gift cards if packaging is available for purchase (55%) or if the gift card display includes multiple packaging options (62%).
The most popular format for gift card packaging is a tin box (29%), for which Seastone holds an issued patent. Tin boxes are followed by paper pouches (19%), greeting cards (15%), and stuffed animal (10%) designs. Gift card packaging is most likely to be purchased for a birthday (78%), followed by the December holidays (72%). The trend towards birthday purchases makes a strong case for year-round gift card packaging programs.
The study found that consumers expect gift card packaging to range in price from $1.43 for a paper carrier, $2.48 for a tin box, and up to $3.66 for a stuffed animal. However, a large majority of consumers would spend $5 more on a gift card if it came with free packaging. Therefore, offers such as "free packaging with any gift card purchase of $20 or more" are attractive for consumers.
The results of the 2008 Gift Card Packaging Study come as retailers ramp up for their 2008 year-round and holiday gift card programs. Seastone commissioned the independent survey with The Marketing Workshop to assess the current status of the gift card packaging market. With more than 100 million units shipped in 2007, Seastone is the clear market leader in the fast growing category of gift card packaging, and has established a track record for delivering compelling design, on-time delivery and consumer value.
For a copy of the entire study, email John Pilmer at jpilmer@pilmerpr.com.
About the Study
The 2008 Gift Card Packaging Study, which polled a representative sample of 1,003 adults, was conducted for Seastone by The Marketing Workshop. The survey was performed online from January 22 - 25, 2008 with a margin of error of 1.5 percent.
About Seastone
Seastone (www.seastone.com) is the market leader in specialty gift card packages and gift card promotional programs. The company pioneered specialty gift card packaging and offers turnkey gift card promotional programs through its Give-A-Gift(TM) brand. Seastone also provides fully customizable programs utilized by many of the nation's largest retailers, restaurants, banks and mall groups. Additional information about Seastone's Give-A-Gift(TM) brand and customizable programs is available at www.seastone.com.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Northern Leasing Systems, New Seastone Study Finds Gift Card Packaging Increases Gift Card Sales
Northern Leasing Systems, New Seastone Study Finds Gift Card Packaging Increases Gift Card Sales: 84 Percent of Consumers More Likely to Purchase a Gift Card that
PROVO, Utah (Business Wire EON) March 24, 2008 -- "Gift card packaging has grown rapidly as a retail product category over the past few years, and this survey shows that consumer awareness is very high - 88 percent of gift card purchasers are now aware of special packaging," said Eric Child, Seastone President. "Retailers that do not offer gift card packaging are missing a significant revenue opportunity, since consumers are more likely to purchase a gift card if it either comes with free packaging or if packaging is available for purchase."
The highest numbers of consumers are more likely to purchase a gift card if it comes with free packaging (84%), but many are also more likely to buy gift cards if packaging is available for purchase (55%) or if the gift card display includes multiple packaging options (62%).
The most popular format for gift card packaging is a tin box (29%), for which Seastone holds an issued patent. Tin boxes are followed by paper pouches (19%), greeting cards (15%), and stuffed animal (10%) designs. Gift card packaging is most likely to be purchased for a birthday (78%), followed by the December holidays (72%). The trend towards birthday purchases makes a strong case for year-round gift card packaging programs.
The study found that consumers expect gift card packaging to range in price from $1.43 for a paper carrier, $2.48 for a tin box, and up to $3.66 for a stuffed animal. However, a large majority of consumers would spend $5 more on a gift card if it came with free packaging. Therefore, offers such as "free packaging with any gift card purchase of $20 or more" are attractive for consumers.
The results of the 2008 Gift Card Packaging Study come as retailers ramp up for their 2008 year-round and holiday gift card programs. Seastone commissioned the independent survey with The Marketing Workshop to assess the current status of the gift card packaging market. With more than 100 million units shipped in 2007, Seastone is the clear market leader in the fast growing category of gift card packaging, and has established a track record for delivering compelling design, on-time delivery and consumer value.
For a copy of the entire study, email John Pilmer at jpilmer@pilmerpr.com.
About the Study
The 2008 Gift Card Packaging Study, which polled a representative sample of 1,003 adults, was conducted for Seastone by The Marketing Workshop. The survey was performed online from January 22 - 25, 2008 with a margin of error of 1.5 percent.
About Seastone
Seastone (www.seastone.com) is the market leader in specialty gift card packages and gift card promotional programs. The company pioneered specialty gift card packaging and offers turnkey gift card promotional programs through its Give-A-Gift(TM) brand. Seastone also provides fully customizable programs utilized by many of the nation's largest retailers, restaurants, banks and mall groups. Additional information about Seastone's Give-A-Gift(TM) brand and customizable programs is available at www.seastone.com.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
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