I have a great job! Everyday I get to talk to dozens of agents in the merchant services industry. Some of them are consistently selling between 15-25 new deals every month. Others cannot even seem to get one sale. Today I want to share the secret of how to sell merchant services.
The secret is: Learn how to sell. Don’t lose me. I know you were expecting something magical. You were expecting an amazing revelation on how you can sell merchant services better. Well, there is something magical that exists. There are sales agents who get 25 deals every single month. I know sales agents that close 70% – 80% of all the prospects that they go back and pitch an analysis to. That’s magical if you ask me. I know sales agents who get 60%-70% of the business owners they deal with to give them a statement. Guess how they do it? They have learned how to become great sales agents. Let me give you some tips on how to be the next best sales agent:
If I could write an eBook knowing what I know today and then go back in time and deliver it to myself 10 years ago when I first got into this industry, this would be the one! CLICK HERE TO DOWNLOAD
#1 – Find good prospects and ignore the bad prospects.
When you walk into a business and hear, “We’re not interested; get out of my store.” That prospect does not deserve any of your energy or thought. A good prospect is anyone who is willing to talk with you about their merchant services. Depending on your market you might have to walk into 10 businesses before you find a good prospect. Sometimes it might be 30, 40, or 50, but however many you have to go into, just slog through several businesses until you find one.
#2 – When you do find a good prospect, make sure you get a processing statement.
Get that statement regardless of how many times you have to go back to that business location. You might have to go back 5,6,7… times before you get a processing statement. I have business owners that I have been going back to for six months to get a processing statement. I only go back once a month. But I go in, check on them, and they say, ” I am going to get that processing statement to you soon.” When you find a “golden prospect” don’t let it slip away. Get that processing statement no matter how many times you have to go back.
#3 – Talk half as much as your prospective client.
Great sales people learn to listen. Have you ever heard the saying, “God gave you two ears and one mouth for a reason”? In sales that is absolutely true. Well, you say, “If I don’t say anything, they won’t say anything.” Learn to love silence. If you are trying to close a deal and the prospect is not talking, it is probably because he is thinking. And that’s okay. If your prospect is not talking at all, then you need to learn how to keep a conversation going. Always remember, your prospective agent will talk themselves into the sale if you let them.
#4 – Never be desperate, hurried, or pushy… ever.
These are three rules that will help you a lot in your sales efforts. Great sales people are never any of these things. Decide that once you get a good prospect, you are going to make that sale. It might not be today, but determine that you are going to make that sale. Once you lock onto a good prospect, just keep following up with him, be patient, and realize eventually you are going to get the sale if you play your cards right.
#5 – Do whatever it takes to get the sale.
You have to find a way to get the sale. You can’t be dishonest or lie to people. But you can be creative. I talk to agents who sound like they are ready to give up on a deal. Never give up on the deal. Find a way to make the deal work. I don’t care what you have to do. I have had clients that owned a terminal that I didn’t support. I gave them a free terminal, sold it for them on ebay, and gave them the money. I have taken all of my upfront money before and used it to pay an earlier termination fee that I couldn’t reimburse through the processor. There is always a way to make a deal work. If the pricing is not there and you can’t offer them savings, offer some kind of extra service. Again, find a way to make the sale work.
#6 – Be organized.
This is one of the most important tips I can give you. If you fail to be organized, you will get a good prospect and tell them you are going to follow up and you don’t. You will lose potential sales this way. Or, you won’t manage your time effectively and be out in the field enough. You might spend too much time doing the right thing at the wrong time. Here’s an important tip: you should not be keying in a sale at 2:00 pm. You can key a sale in at 8:00 pm. You should be out in the field at 2:00 pm. Here are some other blog posts on organization: “Getting More Done in Less Time and With Less Resources”, “Organization – Using Your CRM Database” Follow my system or another system that works. But be organized!
#7 – Read books and learn the importance of sales training.
I love to read books. I read books from successful authors and sales trainers. Also learn to appreciate sales training. I absolutely guarantee you that CCSalesPro offers more sales training for merchant services than anyone else online. Understand we specialize in sales training.
My name is James Shepherd.
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