May 2023 - Striven

Month: May 2023

Striven Crowned #1 ERP on SoftwareAdvice ‘Front Runners’ & GetApp ‘Category Leaders’ Lists for 2023

Posted on by Scott Hammer

Lumberton, NJ – May 31, 2023 – Striven, a leading Enterprise Resource Planning (ERP) software solution, has made its mark in the industry by clinching the #1 spot on two major software lists: SoftwareAdvice’s ‘Front Runners’ and GetApp’s ‘Category Leaders‘. This significant recognition underscores Striven’s commitment to delivering the highest quality solutions to businesses around the world.

The achievement is a testament to the superiority of Striven’s advanced ERP software, which has been praised for its comprehensive features, user-friendly interface, and exceptional customer support. Notably, Striven’s advanced reporting capabilities and real-time analytics have been particularly lauded by users for driving operational efficiency and promoting data-driven decision-making.

In SoftwareAdvice’s ‘Best ERP’ Rankings, Striven placed above other ERP software solutions such as Acumatica, MRPeasy, and SAP Business One
striven getapp best erp award #1 erp
In GetApp’s ‘Best ERP’ Rankings, Striven placed above other ERP software solutions such as QuickBooks Enterprise, Brightpearl, and Monday.com.

“We’re absolutely thrilled to be recognized by SoftwareAdvice and GetApp,” said Chris Miles, CEO of Miles IT, the company behind Striven. “This recognition underscores our dedication to deliver an ERP solution that not only meets but exceeds the expectations of our customers. Our entire team works tirelessly to provide a product that empowers businesses to streamline their processes and make informed decisions.”

Striven has not only claimed the top spots on SoftwareAdvice and GetApp but has also made its presence felt on Capterra’s ERP shortlist, further cementing its position as a top ERP software solution.

These lists are compiled based on user reviews, functionality, and product security, highlighting the all-rounded excellence of Striven’s ERP solution.

Striven continues to strive for excellence, with a commitment to constantly improve and innovate its product offerings to better serve its users. As the company moves forward, it continues to focus on delivering software solutions that drive efficiency and growth for businesses of all sizes.

About Striven: Striven provides a comprehensive, fully integrated business management solution. Bringing together powerful tools for sales, operations, finance, and employees, Striven is committed to helping businesses streamline their operations and achieve their strategic objectives. For more information, visit www.striven.com.

Upcoming Retail Industry Trends You Need To Know About

Posted on by Eleanor Hecks

Cutting-edge technology is taking the retail industry by storm and reshaping the shopping experience. Today’s retail trends are altering our purchasing decisions, how we buy and sell goods and where we buy them from. Likewise, customer expectations have evolved to demand incredible speed, efficiency and convenience. 

Those who stay ahead of these trends and integrate new technologies into their business will thrive. Of course, change is hard — and it can prove challenging to keep up with rapid developments. Here’s everything you should know about upcoming trends in the retail industry to propel business growth.

Why Trends are Essential for Retail

Retail businesses that follow trends demonstrate their understanding of current and future markets and how the industry changes. Adhering to innovation also makes customers feel valued. Listening to consumer preferences and improving your business strategy to meet their expectations show you care.  

Deploying digital trends also enables brands to keep pace with their competition and stay relevant in the retail industry. Borders and Blockbuster are two examples of defunct businesses — both became irrelevant with the influx of streaming services and music digitalization. 

Borders also failed to create an e-commerce platform like Barnes & Noble. Meanwhile, Circuit City liquidated its remaining stores in 2009 after becoming so big that the shopping experience turned impersonal.

Retailers must hop on the digital trends train for advanced opportunities in sales and marketing. Investing in upcoming digital trends is an investment in the company’s future.

5 Digital Trends Reshaping the Retail Industry

The retail industry has had to play catch-up in several ways following COVID-19 lockdowns. The pandemic forced retailers to modify their sales strategies and adopt the latest technologies to stay afloat. 

Nowadays, savvy retailers understand that a step back could be detrimental to business, primarily when digital trends aim to reshape the industry for the better. Here are five upcoming tech trends to look out for in retail.

1. Payment Security

Retailers have implemented cloud-based point-of-sale (POS) systems to automate transactions safely. In fact, a recent study found that 72% of businesses agree that cloud services are more secure than ever. 

Cloud-based POS systems are cheaper than traditional systems and are especially popular for more prominent e-commerce merchants, enabling retailers to monitor and process multiple transactions. 

The latest POS systems have even streamlined hospitality services. For example, restaurant patrons can view menus, place orders and pay for their meals from a device at their table. Hotel guests may also manage their stay from their mobile phones.

Yet, as cybercrime reaches an all-time high, customers are increasingly concerned about fraud. The retail industry should take precautions by strengthening cloud security and following best practices to protect consumers’ private information. Integrating fraud prevention, installing website identification authentication, using trusted payment providers and ensuring your business complies with the Payment Card Industry (PCI) Data Security Standard is crucial.

2. Inventory Management

Inventory management systems deliver several advantages for the retail industry, especially e-commerce. Some of the main functions transforming retail inventory include:

  • Inventory analytics: Utilizes cloud services to track product metrics in warehouses, determine waste production and improve decision-making processes
  • Forecasting: The ability to predict inventory levels for restocking purposes, ensure the availability of popular products and understand changes in purchasing behavior
  • Warehouse automation: Tracks warehouse product inventory, locates products and ensures rapid order fulfillment times

Inventory management also improves omnichannel systems that allow consumers to view pricing in the online store and see the same price when they visit in person. However, inventory management software must aggregate data from the supply chain, consumer demand, product reconciliation and distribution logistics to achieve this.

3. Guided Selling Tools

Online shopping exploded throughout the COVID-19 pandemic, and many agree it is here to stay. Retailers without an established e-commerce store miss out on lucrative opportunities to drive sales. 

For instance, luxury watch brand TAG Heuer saw triple-digit growth only weeks after transitioning to a guided shopping experience. Guided selling uses interactive artificial intelligence (AI) to assist customers in buying products by prompting them to answer questions. 

Suppose they’re looking for new shoes — customers may get asked whether they want everyday casual wear or running sneakers. The next question may inquire about extra support in the arch or ankle. 

Based on the customer’s answers, the tool will suggest several products that meet their requirements, taking the guesswork out of their decision and increasing sales revenue. Companies have deployed guided selling across all facets of the retail industry, from clothing to automobiles to home improvement.

4. Chatbots

Chatbots have made it easier for retailers to deliver round-the-clock customer service through their online stores. Customers can interact with chatbots to ask questions about a product or policy, offer assistance with shipping and tracking packages and garner consumer feedback. 

Retailers that utilize chatbots as additional team members save money and improve the customer e-commerce experience without additional overhead.

Of course, chatbots are efficient for any retail business. However, they don’t replace direct communication and support from a customer service representative.

5. Autonomous Shopping

Contactless shopping experiences have grown increasingly popular in recent years. With advanced automation underway, autonomous shopping — such as self-checkout and mobile pay — will become the norm. 

Studies show that consumers prefer the self-serve retail trend. A recent Zebra Technologies report found that 43% of shoppers prefer using smartphones to pay while half utilize self-checkout — up 23 and 19 points since 2019, respectively. About 80% of consumers expect retailers to offer the latest automation technology during purchasing.

Autonomous shopping creates a seamless buying experience and frees up associate assistance on the floor. Whatever way retailers can integrate convenience into their stores, the more they’ll meet consumer expectations.

Upcoming Trends to Change the Retail Industry for the Better

There will always be uncertainty surrounding change. Regarding the retail industry, upcoming trends that utilize digital advancements will benefit businesses and consumers alike. Retailers must embrace these developments to drive sales and achieve long-term success.

Boost Your Small Business Growth: Leverage Software for a Successful Marketing Strategy

Posted on by Scarlett Finley

Did you know that 45% of small businesses fail within the first five years? One of the primary reasons for this is a lack of an effective marketing strategy.

So, you want to create a marketing strategy that sets your small business up for success? With the right software tools and resources, you can streamline your marketing efforts and get more out of your investment. 

In this article, we’ll explore tips and best practices for developing a winning marketing plan with the help of business management software.

Software for Different Types of Small Businesses

Small businesses face many challenges today. They need all available tools for success.

Let’s say you are running an eCommerce store; why not have it all set for you? Use Shopify and take advantage of the themes and plugins available to customize your store and make it unique.

Or maybe you are a coach needing help scheduling sessions and processing invoices. Paperbell does this for you, and you can focus on crafting powerful coaching questions to give your clients much-needed insight and help them grow on every level.

Realtors could use some help with managing the listings, as there’s no need to do things manually nowadays. With software like Zillow, your listing gets updated everywhere online after you update it at the source. It saves you time and headaches, doesn’t it?

Now let’s check out some amazing tools that will smooth your marketing journey and allow you to get the best results and achieve growth faster! 

Marketing Planning Tools

The foundation for a suitable marketing strategy lies in planning. In your marketing plan, you identify your target audience and the best channel to reach them. Marketing planning software is of great help here to ensure you will save resources on effective strategies.

But first things first, what exactly is marketing planning software? These software or online applications help small businesses plan, execute and track their marketing strategies. And these tools can vary greatly. For example, they can be simple spreadsheets or advanced software.

Selecting a user-friendly, budget-friendly tool is crucial. Some companies provide free trials or basic functions. Others need a subscription or a one-time fee. It’s also important to consider if the software integrates with other platforms like social media or email marketing software.

Content Marketing Software

Delving into the marketing world, one must recognize the significance of content. Essentially, content encompasses everything crafted to captivate and engage your target audience, including blog articles, videos, social media posts, and email newsletters.

Content marketing software serves as a valuable tool that amplifies your efficiency with features such as templates and scheduling. By leveraging these options and more, you can achieve far better results than manual methods would allow.

One of the key advantages of employing content marketing software is the remarkable boost in efficiency. This is achieved through an array of tools, such as blog editors, social media schedulers, and email marketing utilities. 

It also enables you to allocate tasks, establish deadlines, and collaborate seamlessly with team members. Utilizing these features effectively and maintaining clear insight into your colleagues’ work leads to swifter and more impressive outcomes.

Moreover, content marketing software plays a critical role in enhancing ROI. By scrutinizing data and making informed, data-driven decisions concerning content creation and distribution, businesses can optimize their results and ensure a more substantial return on their investments.

You can find a tool for everything you need regarding content. If you need an AI writing assistant to create engaging content – there’s Jasper or Writesonic. For content curation, you can use ContentStudio or StoryStream. And to handle tracking and analytics – Semrush that also helps you find the right topics and track content reach.

Search Engine Optimization (SEO) Tools

Search Engine Optimization is a critical component of digital marketing. To rank higher in search engines, you need to optimize your website and content with specific keywords and phrases that potential customers are searching for.

To make the most of SEO, you’ll need the right tools to help identify relevant keywords, create optimized content, and track search engine rankings. One popular SEO tool is Ahrefs, which offers keyword research, competitor analysis, and backlink tracking features. Another widely used tool is Semrush, which provides keyword tracking, site auditing, and content optimization tools. Yoast is another popular option for WordPress users, offering a plugin that analyzes and optimizes content for search engines.

For small e-commerce businesses, there are also specialized SEO tools available. For example, Etsy SEO tools like Etsyhunt and eRank help Etsy sellers optimize their listings and improve visibility on the platform.

Overall, investing in the right SEO tools can make a big difference in your search engine rankings and drive more traffic to your website or e-commerce store

Social Media Marketing Management Tools

Did you realize that a staggering 4.59 billion people across the globe actively use social media? This presents a colossal audience for small businesses to tap into, promoting their products or services to a vast clientele.

One strategy small businesses can adopt is generating QR codes to promote their social media channels, encouraging users to follow them. You can share coupons or ask for feedback this way, or even a location QR code that your followers can scan and get the directions to your store on Google Maps. These codes can also be printed on business cards, directing users to the company’s Instagram or Facebook page. However, this is merely the tip of the iceberg.

You could also use AI art generators where text prompts allow you to give instructions and create unique images to share across social media. For example, DALL-E 2 is known to be very fast and intuitive, and your imagination is the only limit to what you’ll create.

As a small business owner, juggling various responsibilities is inevitable, and managing social media can be time-consuming. Social media management software is purposefully designed to expedite this process. For instance, you can schedule posts in advance, freeing up precious time to focus on other vital aspects of your business operations.

If you are on a budget, use Buffer – a user-friendly tool that offers a good free plan with additional affordable plans available to upgrade. If you are present on many platforms, then Hootsuite is your best option. With this tool, you will maximize your marketing impact by targeting messages based on location or demographic profile.

Finally, you could try working with influencers to promote brand awareness and reach new audiences. Moonio offers you both free and paid plans to find, contact, and manage your relationships with influencers. If you want to find long-term brand ambassadors, the tool also offers the opportunity to scan your brand fans and customers to find influencers who are already talking about your brand or buying your products.

Marketing Project Management Software

Numerous small business owners grapple with resource constraints when orchestrating their marketing endeavors. But fear not, as a solution exists to help you remain at the forefront of your marketing game: marketing project management software.

This versatile tool empowers you to meticulously plan, organize, and monitor your marketing projects from inception to completion. It is designed to assist in managing various campaigns, including social media efforts, email marketing initiatives, and website overhauls.

By implementing marketing project management software, you can automate mundane tasks and eradicate extra process steps, ultimately saving time and money. For instance, it allows you to allocate tasks to team members, establish deadlines, and track progress within a single platform. Consequently, you can prevent miscommunications and ensure everyone remains aligned and informed.

Let’s be honest- tracking your marketing projects can be overwhelming. Nonetheless, with marketing project management software at your disposal, you can maintain organization and have all essential information in one centralized location. As a result, you can avoid missed deadlines, misplaced files, or forgotten critical tasks, enhancing the overall efficiency of your marketing strategy.

Text Message Marketing Software

Text message marketing software, also known as SMS marketing software, is a tool that allows businesses to send promotional messages or alerts directly to customers’ mobile phones via SMS (Short Message Service) or MMS (Multimedia Message Service).

This type of software typically includes features such as contact list management, message scheduling, automation, reporting, and analytics. It enables businesses to target specific groups of customers based on demographics, behavior, or interests, and send personalized messages with relevant offers, discounts, or reminders.

Some text message marketing software also includes features like two-way messaging, which enables customers to reply to messages, providing valuable feedback or engaging in conversations with businesses. 

Additionally, some software providers offer integrations with other marketing tools, such as email marketing or social media platforms, to create a cohesive and comprehensive marketing strategy.

Overall, text message marketing software is a powerful tool for businesses looking to reach their audience quickly and directly, increase engagement, and drive sales.

Mobile Marketing Software

As mobile device usage continues to soar, it has become imperative for small businesses to adapt by investing in mobile marketing strategies. This enables them to stay competitive and cater to the evolving needs of their clientele.

Mobile marketing software serves as a powerful tool for businesses to connect with their target audience through portable devices such as smartphones and tablets. By harnessing this software, companies can forge stronger customer relationships, elevate brand awareness, and bolster sales.

One standout feature of mobile marketing software is its capacity for real-time communication. For instance, suppose a business unveils a fresh promotion or launches a new product. In that case, the software can send push notifications directly to customer’s mobile devices. This dynamic engagement with the brand maintains customer interest and increases the likelihood of securing purchases.

Event Marketing Software

Now that we have covered digital marketing let’s talk about your offline marketing efforts. What if you want to plan an event, for example, for a new store opening or celebrating ten years of being in business?

You could use a tool that helps you manage and promote your offline events – event marketing software. It can help you plan everything from trade shows and conferences to product launches and community events.

You can automate many tedious tasks involved in event planning, such as ticket sales, email marketing, and social media promotion, and let the software do the heavy lifting. Not only that, but event marketing software can also help you reach a wider audience. You will get the word out about your event to more people than you ever could on your own. 

The biggest benefit of event marketing software is its ability to help you connect with customers in a more meaningful way. When you host an offline event, you can create a personal connection with potential customers. And with the help of event marketing software, you can ensure you’re putting your best foot forward.

Final Thoughts

By harnessing the power of business management software tools, small businesses have the potential to refine their marketing endeavors, conserve time and resources, and sidestep typical obstacles.

The key lies in selecting the appropriate tools, paving the way for executing an impactful marketing strategy. As a result, your business will flourish more rapidly and distinguish itself in an increasingly competitive market!

8 Benefits of Cloud-Based Business Management Software

Posted on by Becca Uptmor

It’s no secret that technology is evolving—and the world of business is changing too. Remote working is on the rise, which is forcing conventional workplaces to pivot the way they work.

One way businesses are changing is in the storage, processing, and collaboration of data. While on-premises ERP (enterprise resource planning) systems were traditionally used, today many businesses are turning to cloud-based business management software, including Mobile Backend as a Service (MBaaS) solutions.

Compared to physical hosting and in-house solutions, these systems are adaptable and easy to use. So how does it work? Put simply, your system is hosted on virtual servers that are easily accessible over the internet. Meanwhile, data is saved on external servers controlled by your service provider rather than on-site servers. 
These cutting-edge data centers are properly managed and feature computer resources dedicated to hosting applications such as digital marketing software on several operating systems. So what other benefits does a cloud-based business management software solution provide?

How Does Cloud Computing Work?

With cloud computing, you can run software remotely via the internet without configuring or maintaining your own server infrastructure. So rather than investing in hardware, you only need a web browser and an internet connection to manage your business’s IT systems. 

Meanwhile, your cloud computing provider handles the installation, maintenance, and upgrades of the software, servers, operating systems, and network switches that make up your cloud.

What Are the Primary Service Models in Cloud Computing?

Remote desktop hosting and data storage are just some of the many practical applications provided by cloud-computing services. The services on offer are divided into three primary models:

Infrastructure as a Service (IaaS)

With IaaS, you can rent servers, storage space, virtual devices, and even networks from a cloud provider on a pay-as-you-go basis. If you’re a small business, this may be a useful option, as IaaS providers offer flexible infrastructure to handle fluctuating workloads. Examples of IaaS providers include Amazon Web Services, Google Compute Engine (GCE), and Microsoft Azure.

Platform as a Service (PaaS)

PaaS is a model for delivering cloud-hosted applications and infrastructure to developers. This covers everything from web portals to gateway software and APIs. Solutions such as Amazon Web Services’ Elastic Beanstalk and even Facebook are excellent examples.

Software as a Service (SaaS)

Chances are you’ve used a SaaS tool before – applications include popular services like Netflix, Quickbooks, Zoom, and Google Workspace. 

This model offers access to various software through the internet. SaaS applications can be accessed via desktop clients, web browsers, or APIs that interface with the user’s operating system. 

Collaborating on projects, sharing data, and accessing specialist software are all made easier with the aid of SaaS applications. Users often pay a recurring cost, either monthly or annually.

8 Benefits of Using Cloud-based Business Management Software

As technology continues to evolve, understanding the latest consumer trends is essential for businesses to stay competitive. One trend that has emerged is remote working, which has forced conventional workplaces to pivot the way they operate. Another area in which businesses are adapting is in the storage, processing, and collaboration of data. This is where cloud-based business management software comes in, providing adaptable and easy-to-use solutions that cater to the latest consumer trends. 

The number of companies using cloud computing is growing. In fact, 69% of businesses accelerated their cloud migration in 2022, and that number is likely to grow. 

Here are some other top benefits of using cloud-based business management software for your business: 

1. Promotes Job Satisfaction 

Cloud-based business management software makes managing who has access to what easier, especially if your workforce is increasingly remote. Employees can log in from wherever they are and use whatever device they like, increasing productivity and allowing for greater autonomy and adaptability across the company. 

With this consolidated method of interaction, your teams will all be on the same page and more motivated to work together. By empowering employees with more autonomy while retaining the necessary level of control, you can increase job satisfaction and employee retention.

2. Improves Data Accessibility

For employees to be as productive as possible, it goes without saying that they need to access data remotely and in real time. Cloud computing gives employees access to company data from any device with an internet connection. With the right credentials, users get immediate access to data by logging in to a single online hub.

Role-based access is also a feature of certain cloud-based services, ensuring that only authorized users can access sensitive information. These security measures help to ensure that only authorized individuals can gain access to private data. Another advantage is that it enables managers to efficiently manage remote teams, which means that employees in different locations, even across the world, can collaborate on the same projects as their colleagues in the central office.

3. Offers Better Protection

Improving your company’s cyber security practices is essential in modern business, as cyberattacks and hackers pose a threat to corporate data. 

By investing in a robust data security process, you can curb data theft and keep sensitive information safe. This means fewer emergencies and maintaining a solid reputation with your employees and customers.

Switching to cloud-based business management software is an excellent approach for strengthening cybersecurity. A cloud-based business management system helps you keep tabs on sensitive information and ensure its safety.

Some methods used by cloud vendors to guarantee data security include the following:

  • Data encryption
  • Web services security
  • The TLS (Transport Layer Security) protocol
  • Network IPSs (intrusion prevention systems)
  • Multi-factor authentication
  • Physical server security 

Moreover, software vendors undergo internal and external audits, so your business can be sure that your data is safe and secure.

4. Improves Scalability 

No matter the size of your business, change and growth are inevitable, whether it’s setting up a new onboarding system or exploring complex topics like model drift detection. With this in mind, your enterprise management system must be flexible to accommodate such changes. 

If you need to add or remove users as your company expands or contracts, you can do it with ease when using cloud-based software.

What’s more, you’ll have far more leeway than you would with a legacy system because of the ability to scale your infrastructure to match business demands. Because you only pay for what you use, there’s no chance of overspending or running out of storage space.

A flexible system that can adapt to technological developments and market shifts is crucial to thriving in competitive marketplaces. When compared to a proprietary system, cloud-based business management solutions’ flexible upgrades and new features are affordable and offer significant growth potential.

Furthermore, cloud-based solutions enable greater opportunities for integration, either between applications from a single provider or third-party software, allowing you to customize your technology to your organization’s specific demands.

5. Offers a Cost-Effective Solution

Cloud management software helps you store data without the hassle of purchasing and maintaining hardware and other equipment. Setting up cloud-based business operations also requires less of an upfront financial commitment than setting up in-house infrastructure and employing a full-time IT department.

The majority of cloud-based services only charge you for your consumption. Like with other services, data storage space is often priced per unit of storage space used. These services are reasonably priced and contribute to reduced costs and a higher ROI.

6. Supports Data Backup and Recovery

Reducing downtime and preventing data loss are key priorities for successful businesses. However, both targets can be difficult to achieve and maintain. Taking measures to limit the severity of data loss and downtime as much as possible is an important first step.

Unnecessary expenses and losses can accrue quickly when even minor problems arise. Data backup and disaster recovery are crucial in the event of unexpected problems. Data recovery and backup functions are built into cloud-based software to mitigate the effects of emergencies such as power outages or natural disasters.

If your company’s data is safely backed up in the cloud, you can rest easy when unexpected situations arise and your system is compromised in any way.

7. Offers Automatic Updates

Speaking of loss of productivity and unanticipated downtime, both are possible results of overlooking software updates. 

Traditional software needs regular manual upgrades to function correctly. This is often a tedious, costly, and challenging task that might require an IT professional’s help or input. 

By using cloud-based software, your business can benefit from the time savings and peace of mind that come with having the most recent software upgrades applied instantly. This automation eliminates the need for costly and time-consuming third-party IT support. If your employees don’t have to spend time on mundane tasks like maintenance, they’ll have more mental bandwidth for more critical projects.

8. Supports Work Synchronization

It’s easy for mistakes to be made when several people are working on one digital file. 

However, if your files are stored on the cloud, you’ll always have access to the most recent version, regardless of what device you’re using and who else is modifying the file. 

This feature is valuable for organizations that prioritize continuity in communications, such as a virtual customer service business. Changes are updated in real time and synchronized across all accessible devices, allowing your employees to make key business decisions using the most recent data.

Take Control of Your Business

The best part about cloud computing is that it simplifies complex business systems and saves you time and resources. 

You don’t have to struggle to maintain vital business systems by expending scarce IT resources. It handles all that, allowing you to focus on more critical business goals thanks to your cloud computing provider.

Nevertheless, cloud computing also has certain drawbacks that you should be aware of before making the switch. To get the most out of a cloud business management system, it’s important to do your research on the services you’re considering, learn about security measures and compliance requirements, and provide your team with appropriate training on how to use the new system.

Not All Generations Pay the Same Way

Posted on by Eleanor Hecks

Businesses must be aware of their target audiences but also understand they could have customers from any age group. Even if Gen-Z’ers are your demographic, you might find their parents or grandparents sometimes purchase gifts for them. Ensuring you have a way each generation prefers to pay helps you avoid missing out on sales.

Why Are Generations So Different?

The world is more connected than at any other time in history, yet different generations are as far apart as at any other time in history. Currently, Millennials are the largest generation group, making up about 21.8% of the population. 

Knowing who your customers are is your first step to ensuring you offer the payment options they’re most likely to embrace. If you’ve ever visited a site, added a product to your shopping cart, and bounced away during the checkout process, it could have been due to the lack of payment options. Don’t let that happen to your business because you didn’t offer a selection the buyer wanted. 

Each generation is born at a select time in history and has different experiences that make different technology more comfortable. Understanding the preferences of each ensures you offer the payment options your core demographic is most comfortable with. However, it can also help you implement payment gateways for every potential buyer.

Baby Boomers

Baby boomers prefer to shop in a store rather than online. The entire e-commerce revolution is quite new to them, with all of its impersonal shopping and waiting for items to arrive. For the majority of their lives, this generation went to a store, found what they wanted, paid cash for it, and took it home. They didn’t have to order shoes and hope they fit. There was no need to input information and pay online. 

That said, cash is not nearly as popular for payments as it once was and most boomers understand the limitations, especially when purchasing in the online world. Studies show cash has lost favor with the majority of United States consumers, with only 19% of payments coming from physical money. 

Although baby boomers prefer to write a check or pay cash, they are well-versed in how to utilize a credit or debit card and are able to use these methods when necessary. They are quite cautious about sharing personal information and will check your site security before buying online.

Gen-X

Gen-X is often the forgotten generation. They are the first children whose parents both worked outside the home and were dubbed “latchkey kids” as they would let themselves in the house after school. They’ve proven to be resilient and able to adapt well to the many changing technological advances they’ve seen in their lives. 


Gen-Xers know a world without cell phones or the internet as we know it today. At the same time, they like the world wide web and their smartphones. They had to learn MS-DOS to use the first home computers and they played on the first Atari gaming systems. They have a built-in propensity for artificial intelligence.

They enjoy streaming their favorite movies from the 1980s. Most of them know how to pay with PayPal, Venmo, and many other methods. Since they do adapt so well, they will likely pay with whatever methods you offer but may prefer something secure such as a credit card.

Millennials

Business.com reports around 75% of millennials have a PayPal account. They’re adept at splitting bills with friends or using cash apps. 

The largest generation is one of the first to grow up with smartphones. They can text at the speed of light and they know their way around a computer and apps. They’re careful about how they spend their money but they’re happy to pay with methods such as digital payments or even bitcoin. 

Whatever payment methods you choose, be cautious about who you align yourself with when marketing to this generation. Around 90% of millennials care about the authenticity shown by the brands they buy from. If they feel you are just choosing a payment gateway to win their business rather than choosing what you feel is best for them and your company, they may walk away and never look back. 

Gen-Z

Gen-Z is made up of people born in 1997 and after. They are the first to grow up fully with technology such as social media and cell phones. They are known for being ambitious, preferring experiences to physical items and are gamers. 

However, some are quite anxious about the world and the way it is—much driven by school shootings and world events they’ve seen in their lifetime. Since they are so adept at changing technology, they are able to pay via almost any digital means imaginable. 

Many have tapped into the efficiency and convenience of digital wallets. They look for opportunities to use Apple Pay, for example. Surprisingly, they are reluctant to use credit cards and prefer to use cash or debit cards. They’re open to alternative payments via cryptocurrency or cash apps. 

How Will Future Generations Pay?

The next generation coming of age will be Generation Alpha. Born in 2010 or after, the oldest in this age group has just come into their teen years. If your demographic is younger, you’ll likely need to market to them and their parents, which are the millennials for the most part. 

Expect the younger generations to adapt to any new currencies introduced and continue with digital payments. It’s hard to say if society will ever be fully cashless in our lifetimes. However, it does seem to be trending that way with more people shopping online than ever before. 

Pay attention to what your customers want and their preferred payment methods. The more options you offer, the happier your customers of all ages will be.

The 10 Best Ways Your Hearth and Fireplace Services Business Can Manage Costs

Posted on by John Fay

As your hearth services business grows, it is important to consider all of your costs, including labor, materials, and overhead. This is essential to remaining competitive in the market while growing investment capital to continue to build your business. From the early stages of establishing your company, your needs may evolve as you continue to optimize profits. Hearth Services management software will offer you a holistic view of your operations and finances to plan your longer-term strategy based on your market position. 

For business owners in the hearth services industry, strategically managing costs can allow growth with the addition of service technicians and up-to-date equipment.

1. Negotiate with suppliers for lower prices on materials

Building strong relationships with suppliers can lead to discounts and special deals on materials and supplies. This can be accomplished through regular communication and by purchasing in bulk. If businesses can negotiate longer payment terms, they can improve cash flow by redirecting cash reserves to other crucial operations.

Vendor negotiation can improve a business’s bottom line by gaining a competitive advantage over competitors and streamlining supply chain operations. Key performance metrics that indicate the state of the supply chain for the upcoming months are central to smart strategy execution.

A report by Aberdeen Group found that companies with optimized supply chain operations achieve an average of 15% reduction in supply chain costs, a 17% increase in order accuracy, and a 20% improvement in order-to-delivery cycle times.

2. Utilize automation and technology to reduce labor costs

Automation can help to reduce labor costs by streamlining repetitive tasks, such as scheduling appointments, ordering materials and supplies, and managing customer information. This allows employees to focus on bigger-picture tasks and reduces the need for additional staff.

Hearth Services management software provides tools for scheduling & dispatch, inventory control, and powerful CRM that not only utilizes automation but also unifies these processes in an all-encompassing system.

Automation of tasks previously done by human hand can translate to an improved customer experience, increased employee efficiency, and enhanced accuracy.

The World Economic Forum estimates that by 2025, technology will create at least 12 million more jobs than it destroys, a sign that automation will have a net positive effect. This can ease the employee relationship strains that may come from the introduction of automation.

3. Control Expenses

An operating budget is a crucial tool for controlling expenses. It allows you to track income and expenses, and identify areas where you can cut costs. Hearth service management software provides tools to manage revenue and expenses.

Implementing an operating budget based on these tools can help you better predict financial stability by being able to plan around controlled expenses and profitability. 

Integrated business management software can help keep all of these moving parts optimized for productivity and profit. For example, running a business with QuickBooks and dozens of complex spreadsheets allows for duplicate records and multiple versions of the same data that can become confusing and lead to inaccuracies across the many systems your business currently uses.

4. Outsource operational tasks to reduce labor costs

Outsource tasks to third-party specialists in marketing, payroll services, and IT support. This can save on small business labor costs by hiring freelancers or virtual assistants who can provide certain professional services at a drastically lower cost than hiring and training full-time employees.

5. Utilize a cloud-based accounting system to streamline financial management

Cloud-based accounting systems allow you to manage your finances from anywhere, and automate many tasks such as invoicing and expense tracking. This can help you to save time and money and make it easier to understand your financial position. 

According to a survey by Aberdeen Group, companies that use cloud-based accounting software have an average of 1.9 days faster cash conversion cycles than those using on-premises software. This can reduce the need for financing and free up capital previously tied up in inventory and receivables.

Hearth Services management software provides unified and accessible cloud-based accounting systems that save overhead costs. For Hearth Services businesses, a cloud-based accounting system can easily adapt to changing business needs, as it can be scaled up as your business grows.

6. Take advantage of tax credits and deductions for small businesses

Research tax credits and deductions that may be available to small businesses in your industry. This can include deductions for things like equipment, supplies, and employee benefits.

Tax incentives and deductions can provide additional funds to invest in research and development, capital equipment, and new employees as you expand your growing business operations. Tax deductions reduce how much business income is subject to taxes, while tax credits can increase cash flow and reward your business for allocating your finances wisely.

7. Rent or lease equipment instead of buying to save on upfront costs

Renting or leasing equipment can be a cost-effective alternative to buying, as it allows you to spread the cost over a longer period of time and avoid large upfront expenses. This gives you more flexibility to adjust your equipment needs as the business grows. Hearth services businesses may rent hearth accessories such as demo equipment or temporary fireplace inserts for temporary or seasonal installation.

Along with lowering upfront costs, rental companies typically take care of maintenance and repair costs to further save on future costs. Renting can even provide your business with tax benefits such as deducting lease payments as a business expense.

8. Implement a cost-cutting strategy and regularly review expenses to identify areas for improvement 

Track your expenses regularly, and identify areas where you can cut costs. This could include things like reducing energy consumption, negotiating better deals with suppliers, or streamlining processes to improve efficiency. 

As your business expands, it can pay dividends to identify areas for improvement so that you can incorporate these improvements into your longer-term, cost-cutting strategy. Hearth Services business management software provides a real-time, cloud-based, 360° view of your financial data and everything that means for the success of your business.

9. Network with other small business owners to share resources and ideas

Networking with other small business owners can be an effective way to share resources and ideas for managing costs. This can be done by joining industry groups or attending events. Oftentimes this can lead to collaborative endeavors and access to new markets to expand your business while managing costs. 

Running a small business can be stressful and isolating, especially in this digital age where people are increasingly working from home. Business networking can provide emotional support and motivation during challenging times such as worldwide pandemics.

10. Implement a pricing strategy that generates a profit and improves customer relationships

It’s essential to price products and services to cover your costs and generate a profit. This can be done by analyzing the costs of labor and materials, then factoring in the level of competition in your market. According to a survey conducted by QuickBooks, 40% of small business owners report that pricing their services is the most challenging aspect of their business. Having a pricing strategy in place to ensure profitability can ease some of the largest stressors for Hearth Services business owners.

To emphasize the importance of implementing a pricing strategy, a study by McKinsey & Company reports that businesses that optimize their pricing strategies can increase their profit margins by 2% to 7% on average. This can result in a significant increase in the bottom line for your Hearth Services business.

How do you do that? Be different. Consider trust-based pricing within your business ethos. Many companies quote an inflated job cost leaving room for when the customer beats them up for a lower price. While haggling can create temporary satisfaction and good vibes, long term it is harmful to maintaining good customer relationships. If you have soft pricing, how does the customer ever know they’re getting a good deal? 

If a customer is asked, “Do you want me to give you a little bit higher price so that we can negotiate…OR…do you want me to actually price it where it needs to be for us to succeed for you?”, the customer will always pick the latter. 

Hearth and Fireplace Services Success

Quote with confidence! Hearth Services integrated business software lets you know the true cost for every line item on your proposal, allowing you to attract and retain customers for life.