Credit card charges can be confusing, here are some basic rules.
When our competitors are offering 2.6% and $0.10 per authorization they are making a lot of money. Example: $100,000 and 3000 credit card transactions in 1 month.
NeXt pricing is more affordable and easier because we charge $0.10 on our best tier, and we do pass through pricing, you pay only what the credit card company charges.
With NeXt the cost savings is significant $900 vs $300 /month
which would you rather pay?
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ROI (Return On Investment) in simple terms states, based on what you am receiving for what you gave up (Regardless of Financial or Sweat Equity). Essentially you should be getting more than what you put in.
Lets take a stock market Investment. I put in (Invested) $2.00, then benefits or what I received was $6.00. The ROI = 3. However a number without units is meaningless, so we want it in percentage and we multiple (ROI)3 * 100% = 300%, which is a gain.
Companies cannot calculate ROI, mainly because they don't collect enough data. Because they don't collect enough data any ROI they show you, you should be skeptical of. They are generating numbers for you, which are most likely not accurate.
Direct competitors showing ROI (Return On Investment) are showing a manipulated value, that is not your ROI. They make assumptions and use averages that cannot accurately represent a company.
Let's use these averages {2,3,4} = 3, {5,6,7} = 6, {1 ... 30} = 15.5. Now if we just say we are going to use average, the overall average is ({2,6,15} = 24)/3 = 8.
In a worst case scenario let's say for an arbitrary representation of your company ({2,5,1} = 8) / 3 = 2.666.
The numbers above produce a difference by 67%. So when companies use statistical data, they can actually be really wrong about your business. This is why, not every business runs the same.
Yes, the same principals apply in running a business, but there are so many different variables for a business, personally using averages is wreckless and dangerous and we are suprised that
our competitors do so.
Yes & No! Unfortunately, NeXt cannot directly calculate your ROI. Because no-one other than you can calculate the Benefit of the software. However, what we do know is mathematics. Here is what we can tell you. Many of our competitors are more expensive than NeXt. Let's assume one of our competitors roughly charges $300.00 per month ($3600.00 / year). Let's compare NeXt to that competitor to show how NeXt has a better ROI.
Given the equation above there are only 2 numbers, we have the top number and it's static. There is only 1 other number that can change in the equation above. The Investment. Remember our competitor charges nearly $3600 / year, NeXt charges roughly $900 / year, these are the controllable costs.
Competitor | NeXt | |
---|---|---|
Benefit | $2000 | $2000 |
Investment | $3600 | $900 |
ROI | .55 | 2.22 |
Percentage | 55% | 222% |
How does that work? Well assuming that NeXt can do what our competitors can do, then lowering the price you pay for that functionality is very important.