24.08.13

Just Because You Can Doesn’t Mean You Should – Charge Credit Card Fees

Welcome to the first of the “Just Because You Can Doesn’t Mean You Should” Series. Part 1.

Should I charge the customer the credit card fees?

So what do you think? Should you charge customers the credit card fees? I’m very happy to accept your comments. Here’s what I think.

Firstly let’s look at the cost benefit of this action. You are charging a maximum 3.5% that equates to $3.50 for $100 purchase. I say just because you can doesn’t mean you should. For the $3.50 you are saving you are potentially losing a customer. You run the risk of turning a positive buying experience into a negative buying experience. Have we forgotten that there are benefits in being paid by credit card like your customer does your banking for you. We don’t charge customers for paying by cheques yet they require us to actually go to the bank!

We can justify the charge but as a customer I know who charges the extra fee and who doesn’t and when there is a choice I know that I go to the business who doesn’t charge credit card fees.

Remember:

  • Most costly part of business is finding customers.
  • One of the hardest things to do is to make the deal
  • Important to make the customer experience pre sale, during sale and post sale a positive one.
  • You can do things but be mindful of the consequences of your action.

Tip: Incorporate the fee into your pricing structure.

Read Part 2:

AI in Marketing – More Artificial or More Intelligent?

Learn how to put more personal intelligence in your marketing Artificial Intelligence with 3 key tips I share in this blog post. read more

Tips to Get Back into Business after a Break

Six steps to find your business and marketing mojo Are you finding it hard to get back into ... read more

Seven Tips To Stay Optimistic In Business (When The World Gets Negative)

Maintaining optimism in your business and marketing Recently it seems that all the news has ... read more

Q: What is the Right Marketing Strategy? A: The one that works!

Revisiting an old marketing strategy may be just the answer to finding customers right ... read more

Is Your Marketing Stressing You Out?
Just Relax and Read.
These five steps could rock your marketing world (in a good way) as they have for many other business owners.
Download this free e-book and your Marketing Zen is just 10 pages away.

Is Your Marketing Stressing You Out?

Just Relax and Read.

These five steps could rock your marketing world (in a good way) as they have for many other business owners.

Download this free e-book and your Marketing Zen is just 10 pages away.

Please provide your name and email address so we can send your e-book

Your freebie has been sent!