Posted on 9/26/2017 4:10 PM By First Bank
In an effort to work toward the adoption of faster electronic payments, the National Automated Clearinghouse Association (NACHA) began the rollout of Same Day ACH (Automated Clearing House) capabilities last year. In September 2016, phase one of three for Same Day ACH service was implemented by starting with credits only. As you may know, there are two basic types of ACH transactions, including credits (allowing money to be pushed) and debits (allowing money to be pulled).
As expected, missed payroll deadlines, late vendor payments, and time-sensitive or discounted invoices appeared to be the primary reasons for the use of Same Day ACH payments. According to the NACHA, the same day service from September 23 to December 31, 2016, determined that almost $17 billion was transferred by Same Day ACH, representing more than $13 million in transactions. In fact, over 52% of those payments were direct deposits (business to consumer).
Expanding Same Day ACH service to include ACH debits, also known as phase two, ...
Posted on 9/26/2017 12:48 PM By First Bank
According to conventional wisdom, millennials aren't interested in email. They're so preoccupied with social media and text messaging that, for them, email is obsolete. This is, however, one of those generalizations that's far from the truth. The reality is that millennials like to communicate using a variety of platforms and devices, including email. True, young, tech-savvy people spend many hours per day on their phones. But one thing they also do on their phones is read and send email.
While millennials haven't stopped using email, you do need to keep certain things in mind if you want to capture their attention. One thing that's true is that outdated email marketing tactics won't get you very far with this audience.
Let's look at some tips for making your emails relevant to millennials.
1. Assume they're using smartphones. A recent study revealed that, for 90% of 18-24 year-olds, smartphones are the most popular d ...
Posted on 9/26/2017 12:44 PM By First Bank
Customer expectations can be difficult to live up to, especially as the global marketplace has provided consumers with more choices than ever. Customers are always looking for a cheaper deal, better features and more benefits, making it difficult for many businesses to keep up with the demands of their customers. If you're worried about getting left behind in a global marketplace, finding ways to exceed your customer's expectations can put you way ahead of the competition.
Focus on One Key Area
The key to exceeding customer expectations is to focus on one key area and aim to be better than your competitors in your chosen area. Businesses often spread their resources too thin by trying to be the best in all areas of their operations, but this rarely works and is unsustainable, particularly for small or medium-sized companies.
Start by separating the attributes of your product into three or four areas that can be easily defined. For example, if you sell dog food, ...