Back in 2017, I started my barista career with Starbucks. A couple months in, my store installed a new technology that allowed people to insert their chips to a device to pay. While it was not a new innovation, people were always amazed on how quick the process took compared to other stores. Years later, I came to find out this device belonged to Square, Inc. Since then, Square has evolved from a payments technology company to a financial services company, and has combined analytics with marketing to become a giant in the industry.
Square was founded in 2010 primarily has a technology company that, as said before, created digital payment devices. It then evolved and became a financial services company. It now owns companies like Cash App and Tidal. It also helps grow businesses, predominately small to mid size. It provides a CRM that includes inventory management, online stores and data analytics (which we’ll divulge more later).
As Americans, we are taught to believe in the American Dream. We root for the little guy to win. In Square’s case, many of the businesses that are under its platform embody the American Dream. Square’s “Dreams” page highlights certain businesses who have came from nothing and have flourished. An example is Yassin Terou, a recent Syrian refugee who started a falafel stand in Knoxville, TN. With the help of Square, he opened his restaurant and has been thriving ever since. These types tales are great example of content storytelling. This type of storytelling not only helps the user, but also Square since it is seen has an investor to this “American Dream-esque” startup.
One way Square helps its customers is its simple, yet instructive Square Dashboard. The dashboard shows pages of data based off the business. This includes generic data like revenue and net sales. But, these can be broken down to how much money the business made daily and what times were the busiest. It also can breakdown what items were sold the most and how much customers spend per visit. This is just the tip on how much the dashboard can show. While this type of analytics can be hard to come by, Square has made it easy for its customers to learn how to understand its dashboard with videos which they can then adapt to make their store better.
Square is now is a special spot in the industry. As an investor to the businesses trying to achieve the American Dream has made it more enticing for other companies to partner with it. Its great analytics Dashboard has helped its businesses learn about their customers, which is especially needed in quarantine times where they need to adapt in order to survive. By using its customers’ success stories in combination with its analytics tool, Square is a company that will continue to be a leader in the market.