Good Wednesday morning everyone. I wrote a blog back in the fall called Selling in the Off Season and another on How to sell in a snow storm, Selling in the spring and now since today is the first day of summer. I believe have all the seasons covered.
After the long memorial day weekend to kick off summer a couple of weeks ago I’ve slowly become aware of what I like to call the “Summertime blues.” I bet many of you already know where I’m headed with this. I’d be willing to bet that for a large percentage of you, Summer time (especially July) is a time when new production slows or, in some cases, come to a screeching halt.
I blame schools getting out, maybe Memorial Day, or the 4th of July. No, it’s not that I dislike these holidays or the kids being out of school. I just don’t like to see momentum slow down. It’s just that many people consider the week of July 4th to be an ideal time for a vacation. They justify their decision by saying, “Merchants aren’t going to change who they use for credit card processing services around the 4th of July. If I go on vacation now, I’ll really only lose a couple of days.”
As a result, all the momentum they built during June – which is known for being one of the better months – dissipates. Instead those hot referrals from their newly signed merchants have grown cold. Some even find they have to go back to the way they signed merchants in May to help make July a good month.
They say hindsight is always 20/20. I could have warned everyone in June that this would happen and given steps on how to avoid it. WAIT!!! I am warning you ahead of time, Perhaps we can still save ourselves from the summer time blues.
I’d like to share three tips for how you can jump-start your July sales for credit card processing services and regain or maintain your momentum .
- Be intentional in your marketing efforts for the remainder of the month.
There is no greater priority. In fact, treat this month as if you were just starting out in the merchant services market. Remember how important it was to sell when you had no merchants?
- Remember what worked well in May and June and replicate those actions only.
Commit yourself to doing what worked well, and avoid anything that didn’t work as you expected. Now is not the time to consider trying new ideas. Stick to the basics.
- Sell during selling time.
Don’t do non-sales related activities during the time you have set aside for selling. They can always wait. If a merchant calls and it’s an emergency, handle their call but don’t forget to ask for a referral. Time is the only ingredient in sales you can’t recoup. Don’t waste one minute. (By the way, I hope you’re reading this outside of your sales time. If not, it might be a good idea to refocus and come back to my post later.)
Taking these steps will help you get going faster, but there are also three myths about July that I’d like to debunk.
- “It’s too hot.”
Yes, it’s hot. I live in Mississippi, where it’s also humid and it’s also cold in January and February and sometimes it’s raining or snowing. Just dress appropriately and drink plenty of water. It’s also hot for your merchants, so if they’re working, you should be too. Plus your competition will be hot as well and possibly stay home. Basically don’t make excuses not to make money!!
- “Merchants don’t change processors in the summer. It’s their prime season.”
This is a myth I’ve heard far too often, and it’s not true. Merchants may not change who they use for credit card processing services on July 3rd or 4th, but they’re just as likely to change on July 5th as they would be on June 12th. Plus Graphite Payments offers a special production bonus during July that will add to the already generous compensation you receive.
- “I have to spend time making sure my merchants are happy/taken care of/running well.”
Yes, merchant retention and service is important. But it doesn’t require 100% of your time. Budget your sales time and leave some time to support your merchant retention efforts. (Just make sure it’s not more than 20%.) Don’t let this myth – or excuse – be the reason your new sales drop.
Next year, before scheduling your vacation during the first week of July, instead schedule it later in the month. You may find that you’re the only person talking to merchants that week, and after all, isn’t that your ultimate dream scenario?
I hope this blog helps you keep the momentum you have already started and overcome the summertime blues!!
Payment Lynx Daily 