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Why Sell Your Merchant Residual Portfolio? There are many reasons why an ISO or agent might decide to sell all or part of their...
How to Sell Credit Card Processing as a Local Agent
I am going to provide you with 3 simple tips on how to sell credit card processing as a local, merchant services agent. The three sales techniques / action steps below are so important that you need to make sure you are following each one. Meet as many merchants as possible. Too many agents get […]
James Shepherd
Nov 27, 2012
I am going to provide you with 3 simple tips on how to sell credit card processing as a local, merchant services agent. The three sales techniques / action steps below are so important that you need to make sure you are following each one.
- Meet as many merchants as possible. Too many agents get caught up in the telemarketed leads game where they only get 3 leads per day and expect to succeed. If you are only getting three telemarketed leads per day as a merchant services sales agent you are probably talking to 2 or less business owners per day for the first time and this is simply not enough to sustain long term success or build your sales pipeline. If you get appointment scheduled leads that is fine, but you also need to be walking into another 10 or 20 businesses per day. Every successful merchant services agent I have spoken with talks to 5 or more owners for the first time each and every day on average. How many are you speaking with?
- Obtain as Many Statements as Possible. In case you missed the memo, this industry competes on price. If your manager or sales coach tells you anything different, ask them when the last time was they made a sale. I made 2 sales today, and I made them because I was the cheapest provider that still offered decent, local service. In order to sell on price, you need to get the credit card processing statement from the merchant so you can do a comparison. I have a bunch of resources on how to do this, but this is really where your sales ability comes into play. Anyone can work hard and meet business owners and it really isn’t that difficult to sell someone when you are saving them $1,000+ per year which is usual if you are selling for the right processor. The difficult part is actually getting the statement.
- Present the Cost Analysis. Agents usually say, “duh” when I get to this one, but the reality is that agents usually get cold feet at this stage. Let me explain how to overcome this. First, make sure you have an amazing offer to present. If you don’t think they should switch, why should they? Once you know you are presenting real value, don’t think, just act. Go do the presentation. Don’t try to figure out if they are a good lead a bad lead, etc. All you need to know is that you have a good offer and then go present it. Most agents try to use all their sales ability in this stage when they should really be turning on the sales charm in the “Obtain the Statement Stage.” Closing deals is really a numbers game. If you present value enough times you are going to get some sales so just get out there and present the deal the best you can.
I hope this short article has helped you understand the three most important action steps for an agent planning to sell credit card processing services. Take a moment to ask yourself honestly, how well are you performing at these three vital action steps?
Have a great day!
James Shepherd james@ccsalespro.com
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