Monday, June 11, 2007

Customer Satisfaction:The Key to a Smooth Flow of Funds to your Offshore Merchant Account


Even if you 're operating your business offshore, you can never underestimate the power of customer satisfaction making a big impact on your business' success.


No matter how good your product is, customer loyalty can still be in peril if the people you hire to sell your products are not competent and friendly enough to make your customers leave your store smiling and satisfied. Customer loyalty leads to continuing business existence and success.


One of the ways to effectively prove to your customers your sincere service is establishing a customer service hotline ideally open for 24 hours. Through this system, you will be able to let them know that any concerns that may arise will be, at the least, addressed anytime. The customer service toll-free number has representatives on call to answer calls and as much as possible, solve the concerns of the clients.


Being a merchant myself, ( as I have a thriving antique store), and having worked at a merchant account provider firm, I discerned that it will be useful to dwell on tested customer service practices, which my former company strongly emphasized and I eventually adapted.


Try to make every call a good call


Many techniques have been formulated on how to make every call a positive call. A call can be considered a positive one if you were able to provide resolution to the caller's concerns. Or, if , you were able to “restrain” an angry caller and then provide resolution in the end.



Be friendly, but not friends


Projecting a friendly voice at the beginning of a call is the sets the mood of the conversation. One practical method is to smile while talking. The person at the other line can actually feel that you are smiling. But, you also have to match the pace of your caller, if their tone is business-like, you have to project a less jolly voice. Generally, callers are casual when they talk to you, taking the time to actually smile during the course of the call. Take note, sounding friendly is different from being friends, you have to know how much you can do for them. If what they're asking is beyond your capacity, it's either you connect them to someone who can do their request or maximize the options you have for them.


Cooling them off


Every customer call should be a good call. But in reality, this is not always the case. Sadly, almost 50% of the calls will be angry or upset callers who want immediate solution to their concerns. Handling these kind of calls requires patience, a lot. The most effective way is to just let them talk first. Listen attentively, focus on the problem connected to the product or service of the company. Most of the time, callers just want someone to listen, so let them feel that you're there to hear them out.



Leave a lasting positive impression


Ending the conversation in a positive light is considered better. The reason for this is first, the customer is most concern of the resolution of the problem rather than the assurance you made at the onset of the call. They will better appreciate the service given to them if you were able to satisfy their reasons for calling.



Empathy is one of the key factors, when dealing with your clients, try to put yourself in their situation so that you will be able to tell how to react. “ What if I was the one who hasn't received the package I ordered? Would I be satisfied by just mere waiting for it to appear at my doorstep?”, giving yourself a reality check at certain times will never hurt. When you have a consistent high rating for customer satisfaction, expect you'll be in business for quite sometime and your offshore merchant account will be alive and kicking as well.



The role of merchant account providers in an offshore merchant account


How crucial is a merchant account provider to an offshore merchant account?


To discern their role, in this case, in an offshore merchant account, it's important to get a crystal-clear view of what a merchant account provider does. A merchant account provider is bank or a company that run merchant accounts. They own processing systems to process and validate transactions, but they also have reseller capabilities of third parties' processing systems.


Below are the main characteristics of a merchant account provider:

    Your business applies for an offshore merchant account on a direct basis with a merchant account provider

    Your business is personally liable for all the transactions that they process

    The customer's credit card statements contains the business name

    Merchant account providers use payment gateway

    Certain providers have fixed monthly fees exclusive of processing costs

    Can also have setup fees

    May provide long term contract requirements



Remember that an offshore merchant account allows you to accept credit card payments from your customers. You can also accept debit cards and electronic check payments depending on the merchant service you will opt for.

Since merchant account providers have a wide network of established banks internationally, you can be confident that you will have a quite a lot of banks to choose from. The list of contact banks range from those in the European banks, Carribean banking institutions, and yes, certain banks in the Asia Pacific region.



Now that you have information on what they do, how can you pick the right provider for your offshore merchant account needs? Presented are basic yet vital considerations:

● Analyze the fee setup thoroughly

● Contact their customer support to see of they are an established company.

● Check for the packages available. Always have options.



Take the time to do the math on the fee setup. If you feel you need accounting advise, never hesitate to do so. It may take long, painstaking hours to calculate but it's your hard-earned money on the line. Watch out for hidden fees. At the end of the day, if their costs suits your budget, then it's a first step.



It also always wise to call their customer service toll-free number. If they have competent and efficient phone representatives it signifies that they have the resources to actually setup your offshore merchant account. The customer support ideally should be open 24 hours everyday serving the clients' timezones for any concerns that may arise.



Merchant account providers for offshore merchant accounts have and will always offer programs set beforehand to suit your concerns. Know what you are signing up for. Ask if the program have upgraded levels. This is important so that you'll know what rewards, (if any), your offshore merchant account can enjoy once you go live.



Your offshore merchant account provider will setup a website with all the payment gateway programs and shopping cart options. They will also integrate the requirements such as Secure Socket Layer (SSL) Certificate that is needed if you're setting up a payment gateway with an application program interface (API).

It is important to know what you are getting into. Your offshore merchant account is a valuable investment you need to look after with utmost care. Never settle, for there are quite a number of merchant account providers for you to choose from. Before putting your signature, be 101% confident. Your offshore merchant account, with your assets, is what's at stake.








Places for your Offshore Merchant Account to be Cradled



Getting into the wave of setting up an offshore merchant account requires critical thinking and effective strategies. Primarily, merchant accounts is a set up that allows you to accept credit card orders and payments from your customers. Adding offshore into the picture means that you will be able to accept payments using the services of an international bank.

Also, one of the reasons why you set up an offshore merchant account is if your business is considered high-risk. The businesses belonging in this range include but are not limited to travel, online pharmacy, adult website, outbound telemarketing, escort service, etc.



I bet, that one of the questions that's floating in your mind after absorbing the premise of an offshore merchant account is where in the world would you open one?. This is a very important factor to ponder upon considering we're thinking global here. Below are some of the widely-known offshore banks that are accepted as reputable institutions for you to set up a merchant account.

List the countries ideal for an offshore merchant account by reading the whole article:

Places for your Offshore Merchant Account to be Cradled