With over 100,000 businesses now shuttered in the wake of COVID-19, SwipeSum has not only stayed afloat, but we have significantly increased revenue, created a path to profitability, brought engineering in-house with new hires, and even trained summer interns.
With over 100,000 businesses now shuttered in the wake of COVID-19, SwipeSum has not only stayed afloat, but we have significantly increased revenue, created a path to profitability, brought engineering in-house with new hires, and even trained summer interns.
This is not to say that we are a perfect company or better than our fellow small businesses who have not been as lucky. This is to highlight the fact that we have an extremely narrow focus on our ideal client base and a product that serves companies in bad times just as much as- or more than- good times.
When we realized the seriousness of COVID-19, we at SwipeSum decided to immediately shift our office online, relying on Slack and Zoom for effective communication. As a company, we brainstormed ideas for generating revenue in this new normal by asking ourselves a few questions: What do we stop doing immediately? What do we start doing? What should we double down on?
This pause in our day-to-day operations led us to focus on prospecting and nurturing accounts that need SwipeSum right now- companies that are searching for significant savings related to payments. In keeping ourselves in mind, we also decided to focus on accounts that would generate significant revenue for us in return. We call this strategy “Narrowing Our Net” because SwipeSum can service any business that accepts payments, but at this time, there is a small group of ideal clients that could make changes fast.
This strategy works, and we have since signed deals that will at least double our overall revenue. It also doesn’t hurt that our entire operation is based on helping businesses become better versions of themselves.
In an age where connection is largely based in the digital sphere, honesty and authenticity are becoming increasingly sought after in the business world as much as the personal world. At SwipeSum we have seen countless cases of executives not knowing- to no fault of their own- what payment solutions are out there to help their business increase revenues. This lack of transparency between payment processors and businesses isn’t harmless; it’s costing companies thousands of dollars that can be put elsewhere.
“Now is the best time for a lot of companies to evaluate payments,” says our COO Stephen Seaman. “In the current state of the economy, every penny really matters, and we can help lower fees or turn payments into a lucrative payments stream. This is especially important for companies that are letting services like Square, Stripe, PayPal, or Braintree keep their entire payments margin”.
In short, SwipeSum is not a credit card processing company. We are a team of software-enabled payments consultants who help enterprise-sized clients discover the best payments solution and partners for their unique businesses. When the solution is perfect, we offer completely free analyses to eliminate most fees and save money. You can receive a free consultation at any time, and we will use our original software to identify where to eliminate unnecessary fees. Let us help you shift your focus back to what matters most: connecting with your customers and getting back to business.
