When Salt Float & Recovery Suites was established five years ago, in Briarhill, Galway, it was the first health spa of its kind in the area, attracting customers from far and wide.
“After experiencing floatation therapy in Canada and seeing my family deal with pain, we knew it was something we needed to bring home,” explains co-founder Nicola Carty.
“Right from the get-go I wanted to offer digital payments because I wanted to be forward looking. That included having an e-commerce website so that customers didn’t have to come into the store and buy a physical gift card or voucher, for example. As well as bundles and gift cards, we also offer a variety of memberships which people pay for monthly. For me, it’s great because it’s recurring revenue and for our customers, they get better value for money. With digital payments and data analytics from our website, it’s really easy to keep track of how the business is doing. We’ve just celebrated our fifth year in business which is terrific,” Nicola says.
“Digital payments really set the tone for the kind of business we wanted to be—flexible, convenient, and easy to engage with,” she explains.
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“As we expanded our services, we realised how important it was to offer flexibility.”
But the benefits don’t end there. “Since adopting digital payments, we’ve reduced the time spent on daily reconciliation by up to 15 per cent, allowing us to focus more on customers,” says Nicola.
“This has allowed us to create a much more relaxed, stress-free environment, letting us spend more quality time with our customers and focusing on the experience, rather than the payments.”
Many of its clients now pay in advance, a sign of trust which aids cash flow. “Digital payments have given us the financial stability we need to keep growing. We have a steady, reliable cashflow, which has allowed us to confidently invest in new therapies and services,” Nicola explains.
“The flexibility to process payments anytime—whether in-store, online, or over the phone—means we’re always open for business, and that’s been key in helping us expand our offerings. It really has helped us grow with confidence, we have a better understanding of our income, which lets us plan for the future.”
“Digital payments aren’t just about making your operations smoother, they open up new possibilities for growth and sales. Our customers love the ease and flexibility, and the best part is, they can pay however they prefer. Whether it’s card or mobile, it’s all covered. If growth is your goal, accepting digital is one of the smartest moves you can make.”
Customer experience is everything
Small and micro businesses like Salt Float and Recovery Suites are Ireland’s superheroes but not all superheroes wear capes. In the case of small and micro business owners, it’s hats, and lots of them.
That’s because these owners typically fill so many roles themselves, from director of sales and head of marketing to human resources executives and financial controllers.
By adopting digital payment solutions, business owners can gain better control of the payments they make and receive, saving time and easing the administrative burden.
This could enable them to meet growing customer demand for digital transactions. It can also boost operational efficiency.
As any time-stretched business owner will tell you, anything that lightens the load helps them to thrive.
Digital payments can provide new opportunities to grow their customer base and open up new channels and markets – seamlessly.
Superheroes need super efficiencies
Research from Visa (in the Micro and Small Business Study Ireland Report, commissioned by Visa and conducted by MESH Experience) shows more than one quarter (27 per cent) of micro and small business owners would like to accept new payment methods.
The same number believe it would help them increase sales.
The proof is in the pudding. According to the research, 29 per cent of those who adopted digital payments say it has helped reduce the administrative burden, while just over a third say they can better meet customer expectations.
With Ireland already among the most digitalised countries in the world and fifth in the EU digital index, it’s no surprise that more and more customers are keen to pay digitally.
For those small and micro business owners who haven’t yet embraced digital payments, fears that they don’t fully understand them may be holding them back.
But what such these business owners might not realise is that tailored and budget-friendly solutions for small and micro businesses are readily available to help them run their business more efficiently.
Such tools can give business owners better insights into their cash flow, helping them to better understand their business and improve their business management.
These solutions allow for a smooth transition into digital payments, enabling more business owners to reap the benefits.
Growing and scaling
For businesses that are growing and scaling, having a clear picture of cash flow is vital.
Visa’s research suggests that four in 10 micro and small businesses are looking to build their online presence, as well as understand their business better.
Micro and small businesses pride themselves on providing a high-quality, personal service and maintaining strong relationships with their customers is a priority for them.
Digital payments offer a customer experience that is more convenient, more secure, and quicker, helping to build trust and loyalty.
By streamlining operations, reducing manual tasks, and freeing up time for strategic business activities, digital payment tools can help.
They also provide you with greater insights into your business, allowing for data-driven decision-making.
For more information on SMB digital payments with Visa click here.
Disclaimer: Case studies, statistics, research and recommendations are provided ‘as is’ and intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. Visa Inc. does not make any warranty or representation as to the completeness or accuracy of the Information within this document, nor assume any liability or responsibility that may result from reliance on such Information.