3 Easy Ways to Impact Your Bottom Line in 2018

By | Data, Daxko Operations, New Features & Updates, Payments, Programs | No Comments

We’re constantly releasing new features and services at Daxko – there are a few in particular that we don’t want lost in the shuffle! These three developments can make a major impact on your bottom line.  The question is: is your team taking advantage of everything Daxko has to offer?

#1 | DRIVE REVENUE WITH EASE

From personal training to swim lessons, sessions sold in bulk can be lucrative, but cumbersome to manage.  Our “Program Packages” feature within Daxko Operations was designed to combat just that.

Your members can now redeem sessions from an instructor’s smartphone or tablet while on the go, electronically sign once complete, and see remaining sessions at a glance. With these sales now organized within Daxko, you’ll enjoy the benefits of resource tracking, staff accountability, and reporting available at your fingertips.   To set up your sales sessions, contact our Customer Success Team today!

#2 | PROTECT YOUR MEMBERS…AND ORGANIZATION

If your business is still not processing EMV chip card payments, now is the time to make the technology upgrade.  Why?  Your business becomes liable for fraudulent charges if it isn’t equipped with the right hardware to process chip payment cards due to the EMV Liability Shift of 2015.  To protect your business and members’ data, Daxko now offers EMV-compliant card payment terminals that are fully integrated with Daxko Operations as part of our credit card processing services.  If you’re ready adopt the chip and prevent potential losses, click here to learn more about Daxko Payment Services or reach us directly (wtaylor@daxko.com).

#3 | UNDERSTAND YOUR BUSINESS BETTER

We’ve taken reporting to another level.  With the release of the Daxko Dashboards, you can visualize and understand your membership and financial data like never before.  Our user-friendly, interactive dashboards are embedded into Daxko Operations, giving you important metrics within a few clicks.  Enjoy tracking trends, analyzing performance, and making faster decisions with confidence and ease.  To learn more, click here.

 

 

The Hidden Costs of Credit Card Declines

By | Industry, Payments | No Comments

Credit card declines are more than just a headache for your business and your members. They negatively impact on your bottom line. First, there’s a fee per decline which typically ranges between $0.06-$0.08. Then there’s the labor cost to your staff who are spending countless hours tracking those members down to update payment information. And finally, there’s the lost membership revenue that comes from members who decide to terminate their membership when you reach out to update payment information. Those costs can really add up!

Use this calculator to see how invalid and expired card declines are impacting your organization.

proactive card account updater will reduce the number of declined cards, preventing decline fees and drastically cutting down on staff time  spent contacting members regarding invalid and expired credit cards. Wouldn’t you rather their time be spend on more meaningful activities to your organization?

Preventing declines also keeps members from leaving. Contacting members regarding returned payments from expired or invalid cards often triggers member termination. We have found that 1 in 3 members will leave within 30 days of this happening. Think of all the future membership revenue you prevent from walking out the door when you never have to have those conversations in the first place.

Interested in how Daxko Payment Services can help improve your bottom line and member retention? We’d love to talk you.