Depending on what part of the country you live in, you’ve probably seen tell tale signs that spring has arrived. I for one was anxious for spring to arrive, as it historically marks the start of one of the best times to sell credit card processing services.
Granted the official start of spring started a few weeks back, but as we jump right into the middle of April, I’m curious to know what steps you’re taking to help promote your credit card processing service.
Now, it’s time to review your sales plan to make sure your profits will grow as fast as everything else around you this season.
The old saying of “the early bird gets the worm” really does apply here. That’s why I’d like to ask you to take the time to honestly answer the following questions.
1. Is your toolbox up to date?
First start by taking a look inside your toolbox. Do you have all of the general tools you need to sell credit card processing? If so, are your tools up to date?
2. Do you have the newer tools you need to be competitive in your market?
Even if you provide the best merchant service, it’s critical that you make sure that you have the new tools you need to be competitive, like next day funding or touch screen point of sales.
Now mind you the key word here is “need,” not “want.” There are a lot of new “cool” offerings, but time is going to be precious over the next few months. Make sure that there is a need before committing the time to obtain the tools and skills necessary to sell any new offerings.
Here are few I would like you to add to your tool box
1. Clientvine CRM – If you’re like many merchant services salespeople I know, chances are it’s been a while since you updated or even used a CRM. Dive in as there’s a good chance it needs some tweaks, or perhaps even a complete overhaul.
Let me share an incredible CRM called ClientVine. It’s a full featured CRM that has a huge plus, It can do a statement analysis! The good folks at ClientVine will upload our schedule A’s so the system knows our pricing parameters.
Once again, for more information on ClientVine please feel free to call or email me.
2. Cash Bouy- Is a merchant cash advance company that has been around since 2002. Cash Bouy has been in the business of helping small businesses. We all know that getting working capital can be challenging for some of our merchnts so at Cash Bouy, they make business funding simple.
3. Are you taking full advantage of what your payment processor has to offer? Touch Screen POS
You need a good point of sale offering. Rather it’s Clover, Lavu, find a system that can meet your needs. For example, consider the merchant services software that is available from your current payment processor. Does it offer any unique advantages that you could be leveraging any more effectively then with a POS?
4. How comfortable are you with available pricing options?
In one of my past blog posts, I spent some time talking about the benefits of tiered pricing and why you shouldn’t cast it aside simply because Interchange Plus appears to be easier. If you’re not sure when to use each method, follow this simple rule. Under $10,000.00 in volume it would be best on tiered, over $10,000.00 a month put on IC+. This will work well most of the time.
5. Are you offering a Dual Pricing option?
If your not offering you prospects a dual pricing option your doing yourself and them a disservice. This is an opportunity to save the thousands of dollars and also to make increased residuals for yourself. Find a processing partner that offers a compliant program on terminals, point of sales system, mobile, gateways etc.
In order to be successful selling credit card processing, it’s critical that you perform this exercise before one of the best selling seasons has come and gone.
I’m curious to know your answers to these questions.
Did you find any areas of concern?
What steps do you plan to take so you can maximize the growth of your credit card processing service?
Happy Selling,
David
Payment Lynx Daily 