Here’s the first of two strategies to sell more merchant accounts without cold calling. This one is for you if you love networking and/or producing content. Follow these four steps to implement this strategy successfully.
Although I am a big proponent of cold calling, to sell without cold calling CAN be done if you have a good reason! In my last episode, I gave four caveats concerning cold calling vs. selling without cold calling.
Now I’m ready to share the first of two strategies that you can deploy to sell merchant services without cold calling. As I’ve stressed already, these aren’t strategies that involve sitting in your easy chair watching Netflix while the commission pours in. But both strategies can be used with good success!
Strategy #1 – Collect email addresses and become a publisher / networker.
For those of you who love networking and / or producing content (written, audio, or video), this strategy can be a big winner over time!
When I was selling merchant services full time, I sent a very basic monthly email newsletter. I recorded an interview with one of my clients who was the month’s “spotlight business owner.” I typed the transcript and edited it to make for a short little interview. The email also had a “Quick Tip From James.” This tip was rarely about payment processing specifically, but it always related to what I was selling. Here are few titles that also served as my email subject line:
· 3 Keys to Choosing the Right Point of Sale System.
· Is PCI Compliance a Scam or an Important Business Process?
· How to Get Your Loyalty Program off the Ground.
At the very top of the email, I had a short 3- or 4-sentence bio about me and what I do with a simple, “Reply to this email if you have any questions for me.”
I usually got a 1% to 3% response rate on this monthly email. This means that once I had 300 email addresses, I had 3 to 9 business owners email me each month asking for help with their processing.
How do you implement this strategy?
Step #1 – Craft your monthly content strategy.
· This should be a very simple, manageable piece of content like the email mentioned above.
· This email must go out on the same day, every single month, regardless of how many email subscribers you have.
· Your clients will love the exposure. And you will get some retention of this email, if nothing else.
· If you need help writing or editing the content, hire a copywriter on UpWork.com.
Step #2 – Start collecting email addresses.
· Now, instead of doing the traditional cold call in the field, you walk in and hand them your card.
· Let them know you send out a monthly email newsletter for local businesses and just want to add them to your list.
· I have found that roughly 70% of business owners will provide an email address when you are face-to-face.
· Resist the urge to add the emails provided by their employees. Always get permission before sending them an email.
Step #3 – Add a special welcome email to send new subscribers. You can set up these auto-responder emails in most email marketing solutions like mailchimp.com or drip.com.
Step #4 – Leverage these email addresses. Make sure you invite the owners to connect with you on LinkedIn. When you have an email address, LinkedIn sends extra notifications to the business owner that you requested them.
Final Tips:
- If you plan to go all-in on this strategy, change your LinkedIn headline to “Author of the XYZ County Business Newsletter” and make sure you add this to your profile.
- Conquer social media one platform at a time, starting with Facebook. Split your monthly topic into 4 short posts. Make a video for each one, each month.
- Over time, begin to invest in better content. Make your interview with a business owner into an audio podcast and then into a video show.
Next week I’ll discuss a second strategy for selling without cold calling – connect with people on LinkedIn.
Don’t miss it!
When you try this first strategy, let me know your results and opinions in the comments section below. We can all benefit from interaction!
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