Today I want to talk to you about getting off the “hamster-wheel” of attrition. We’ve all been to the pet store or had our own hamster as a kid. We’ve seen a hamster on its wheel running and running and running! The hamster thinks he is really making a lot of progress. Obviously, we know he’s not. Running in place gets you nowhere.
Unfortunately, I see a lot of merchant services reps doing this same thing. If a rep reaches a level of one hundred and fifty merchant accounts but loses forty accounts that same year, he is in trouble. He may sell forty-two accounts by the end of the next year, but he still only has one hundred fifty-two accounts. This rep is on a hamster wheel, running as fast as he can but not making any progress. The problem is attrition. Reps are losing too many customers.
I would like to talk about a new course just posted. Go to instantquotetool.com. Click on “training” and scroll down until you see a course titled “Customer Service – Referrals and Retention.” This course talks about how to generate a referral engine and reduce attrition, just to mention a few topics addressed. I’m going to give you a few highlights of the course in this episode.
There can be many reasons for a high attrition rate.
We all know Issues can arise from many areas; processors, terminals, or problems may arise from the type of expectations set from the beginning.
We cover all of these issues and many more in the training course on instantquotetool.com titled “Customer Service.” Be sure to take advantage of this to get off that “hamster-wheel” of attrition. Learn to understand the specific issues merchant services reps face and how you can overcome them.
View IQ Training HERE: “https://www.instantquotetool.com/courses” (You can sign up for a free 30-day trial if you are not already a current subscriber to James’ exclusive training. START TRIAL NOW)
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