Finding the Cure for Selling Merchant Services

Good Tuesday morning everyone. I’ve been fighting a congested cough for a little over a month now, Sunday I finally broke down and went to the doctor.

Anyone who has ever been sick or needed a physical examination will agree with me when I say

that going to the doctor is rarely a fun experience. In fact, I can only think of a few very rare occasions when it could even be called fun. Usually we go to the doctor when we are sick and aren’t getting better. Our goal is to be cured quickly. To get that cure we are willing to sit in a waiting room for what seems like hours,(1 hour 19  minutes, before being moved to the inner waiting room)  surrounded by other sick people. (lots of people were there)

When you finally get called in your goal remains the same, “fix me” as soon as possible. Invariably, all doctors start with the same question, “So what brings you in today?”

As you explain your sickness they take notes, but instead of curing you right away they ask more questions like “When did this start?”, “Have you taken anything and if so, did it help?” and several others that ultimately finish with “Is there anything else you would like to add?”

Although this questioning can seem frustrating, it is necessary so the doctor can better understand your symptoms and determine your diagnosis. In order to make you well, he has to find out what is making you sick. By treating the cause of your illness, the symptoms will go away permanently.

Because of this approach, we tend to stick with a doctor we trust. We don’t shop for other doctors based on price or waiting room delays. I know my doctor isn’t perfect, and the wait is often long, but I also know that I am getting the best possible care. Because of that, price has no bearing on my decision of which doctor I will see.

I believe we should sell our merchant services as if we were doctors. We should diagnose the pain and treat the cause, not the symptoms. However, I witness all too often where many still act like the old time doctor who when a patient says, “Doc it hurts when I do this,” they respond simply with, “then don’t do that.”

Many still believe that it’s all about price, period. They think that if they can save the merchant enough money then they will sign and be happy. However, as any experienced ISO or sales rep will tell you, they may come, but they won’t stay. They will quickly leave the next time someone walks through their door promising better savings. Remember, If they buy on price, they will leave on price.

For those agents who have low attrition rates and have built trusting relationships with their merchants, they are reaping the rewards of customers who have become great sources of referrals. They know that it all starts with the initial sales effort and providing the best service and support. They begin their sales approach by first identifying the pain points. They then work to gain the merchant’s trust, which is accomplished by following through on their promises. They know that price is a symptom, and although it is part of the sales process, it should never be the deciding factor.

They ask questions that help them diagnose the root cause of the symptoms. Oftentimes they find themselves explaining that a pain that a merchant suffers is not “just the way it is” and the merchant should not have to deal with that particular issue ever. They dig further to find out when the pain started, if it can be cured, what it will take to cure it and then deliver the most appropriate credit card processing services.

Remember, it takes time to work your way through these steps. Like the patient, the merchant really won’t want to take the time either, but with the proper approach, he will be willing to listen and will see that you are committed to providing the best merchant service. It takes a special kind of sales rep who is willing to ask questions without jumping to a cure. And it takes practice.

Are you rushing through the sales process without identifying the root cause of the merchant’s pain?

Or perhaps you jump straight to price, without even asking any questions. If either of these tactics sounds familiar, you may find your success level low and your pains increasing.

Seek out your mentor to walk you through the questioning process that is so helpful to doctors – and to the sales profession as a whole. It will be worth your while and could very well be just what the doctor ordered.