Month: May 2023

Remember as a child how excited you were in the days leading up to your birthday, Christmas or some other big event?

You couldn’t wait for that day to arrive, because you knew it was going to be amazing!

Why not approach this week the same way you approached those special days as a child? Go ahead…do it!  Your sales motivation is depending on this kind of attitude.

As a child in the days leading up to Christmas, it seemed as if everything was a spectacle. I was constantly on the hunt for a clue and some sort of indication as to what Christmas morning might bring.

What a great approach to this week.

Approach it with the same open eyes and open ears, and be on the prowl for those new opportunities and the excitement that awaits.

Sometimes, I can’t help but think that maybe if we all had a little more child-like approach to our careers, we would have more fun and get more out of selling.

With each call you make and each customer or prospect you meet, be looking for the unexpected clue and the new opportunity you may have been overlooking for months or even years.

One of the amazing things about a child and their new toys is the way they play with them.

I can remember on many occasions watching my own children completely disregarding the normal way a toy should be used and using it in a completely different manner.  Yet, despite the fact they disregarded the instructions, they were gaining an incredible amount of fun out of it.

The same can be said with how we approach our prospecting and client relationships. Sometimes we have to throw away the playbook and look at things differently to uncover the unexpected.

Let’s have fun this week. Be looking for the unexpected and making it the expected.

Happy Selling,

David

I read this quote the other day and haven’t been able to stop thinking about it:

Prospects never read anything at first; they never believe anything at first; and they never buy anything at first.

Sit with that one for a moment.

Basically, this quote is reminding us that people need to trust us before they can do business with us. 

But how do you build trust with a prospect? Below are the top 10 Questions to Ask Merchants to Earn Their Trust that you can use in your communication to strengthen the connection you make with your prospects. Try these out, and soon your customers really will be ready to share more, believe more, and buy more.

From the Home office in Moonshine, Illinois Here are the Top 10 Questions to Ask Merchants to Earn Their Trust

10. Can I please speak with (merchant name)?

This seems obvious, but it’s easy to forget obvious things when you’re focused on your pitch and making the sale. Before you strike up a conversation, make sure you’re speaking with the decision maker. There’s nothing worse than realizing that you’ve spent the past 20 minutes speaking with an inquisitive employee rather than the owner. Avoid wasted time and it also send a signal to the decision maker that you’re serious by knowing their name before you call or stop by.

9. Can you tell me about your current business and what you think can be done to help you grow?

People love to talk about themselves and their businesses. Set yourself apart from other sales agents and set yourself up for a great first impression by asking them about their growth plans. You might be tempted to dive into how you can help them, but resist that urge and continue to ask them more questions from this list. This next one will get them talking specifically about their payments processing.

8. What frustrates you today about how you handle credit and debit cards?

You won’t be able to offer a relevant solution without knowing the merchant’s current pain points. This broad question will get them talking about their payments challenges without launching directly into the typical questions “who is your current processor” and “can I see your statement to show you how much I can save you or possibly eliminate your fees?

7. Is there any specific aspect of your current credit card processing service that you like or actually find helpful?

There must be something that they like about their current processor. It’s important to find out so that you can include whatever it is in your offer if possible. Remember that sometimes it’s the little things that influence merchants. The merchant might just like that their existing sales agent is responsive or maybe they like receiving their statement online. Whatever it is, knowing what they like will help you.

6. Are there any areas that are working with your existing processor, but could be better?

The style of this question is especially useful when talking to someone who is non-confrontational. By asking what could be better, you are not asking the merchant to bash their current processor or sales agent. You’re just asking what could be better. They’ll hopefully mention their current processor by name so that you don’t have to ask.

5. What is your biggest complaint about your current processor?

The style of this question is especially useful when talking to someone who is non-confrontational. By asking what could be better, you are not asking the merchant to bash their current processor or sales agent. You’re just asking what could be better. They’ll hopefully mention their current processor by name so that you don’t have to ask.

4. What characteristics would your ideal payments provider have?

A great way to offer the merchant exactly what they’ve been looking for is to have them explain their perfect scenario. That way, you can angle your pitch to fit each of their specific desires.

3. Before we get to my price, what do you think you are paying today? Let’s look at your statement and confirm that.

The merchant will often want to talk about price very early on in the conversation. Keep in mind that once you mention price, it can be really hard for the merchant to hear anything else. Try answering their original price question with a question of your own, such as asking them what they think they are paying today for payments processing.

2. Could you tell me more? It sounds like this has happened often/before. Can you tell me when and what happened?

You are likely to face at least one small concern with each potential sale. And if the merchant mentions an objection, there is probably even more they aren’t telling you. This is an important time for you to probe deeper to find out what they’re really concerned about. Rather than responding to their objection with your sales pitch or the facts, ask for more information. And bite your tongue.

And the # 1 Questions to Ask Merchants to Earn Their Trust is….

1. So, I bet a lot of payments people are trying to get you to sign with them promising the moon and stars. How much of that have you believed?

You know better than anyone that some credit card sales agents are unscrupulous. If you sense that the merchant is weary of you or has a “I’ve heard this all before” kind of attitude, this question can help address the subject head on. Let the merchant know you’re different than other salespeople. You’re a payments professional and are there to see if there’s a way you can
help them. If you can’t help them, you’re happy to admit it and possibly refer them to someone who can. (which will never happen, right?)

BONUS QUESTIONS

What do you think is our next step?
Closing is a difficult skill to master. Because it can feel awkward and stagnant, try asking questions that keep the discussion going. If you do feel the conversation is dying down, but you still haven’t fully completed the sale, ask the merchant what they think is the next step.

Although losing a sale can seem like the end of the world or at least a sharp punch in the gut, it is important to make the most of the time that you have already spent with that potential merchant. Instead of sulking, use it as a learning experience.

Here is the question to ask every merchant who says NO:
Since you have chosen not to proceed, off the record, could you help me with my
marketing efforts. What part of my offering or presentation did you not like? Please be honest, as it’s the only way I can learn.

There you have it, the Top 10 Questions to Ask Merchants to Earn Their Trust. Let me know what questions you use to earn a merchant’s trust.

Have a great weekend,

David

Yesterday we looked at the  5 Questions Successful Salespeople Ask Themselves Every Day. And if you’ve worked more than one sales job then you’ve had more than one top sales rep as a co-worker. There is one (or more) in every organization. Usually their numbers are insane while everyone else is wondering how they did it. Well the best merchant salespeople all have some things in common, and it’s usually not something they’re born with. Here are six things that the top sales reps in merchant services never do:

1. Complain – Merchant services are filled with people who complain about everything from leads, to the comp plan, to prospecting. You could say it’s a completely natural part of sales culture and comes with the territory. While some complaints are legitimate, you won’t hear the best salespeople at any processor complaining since they are too busy focusing on finding solutions and closing deals. Venting makes people feel better, but it rarely helps your numbers and the top sales reps understand this well.  

2. Count their deals before they close – A great salesperson can read people well, but knows enough about sales to understand that a deal isn’t a deal until the deal closes and is signed sealed and delivered. While many sales reps (especially new ones) will believe a merchant who says they will sign in a few days, or says come back next week, the best sales reps won’t use the “be backs” as an excuse to for not closing deals. The best sales reps take responsibility for themselves and, more importantly, face reality.

3. Keep doing things that aren’t working – While sales involves lots of processes, many of which are repetitive such as calling leads, explaining product benefits etc., the best salespeople focus on the details and identify what isn’t working for them and adjust accordingly. This can be something as simple as tweaking a few words in a sales pitch that is falling short, or realizing that certain types of prospects aren’t the best use of their time and resources. The best salespeople stop doing something when it’s clearly not working and keep trying until they find something that does.  

4. Let their performance affect their mood – One thing that nearly all top salespeople have in common is that they don’t let their numbers impact their emotions. If they’re crushing it, they stay humble and keep plugging along without acting elated or running around happier than ever, and if they’re in a slump they don’t mope around looking for sympathy or get angry. Their mood is consistent which makes their performance better.

5. Forget to follow up – Following up does not require an enormous marketing budget. In fact, if you own a phone then your only investment is your time. The question that every salesperson must ask is,  “Just how important are merchants to my success?”Obviously, you know the answer to that question. Therefore, the real question is,  “Do I treat my merchants and prospects like they are important?”

6. Forget to close – We have seen countless sales reps over the years who will build amazing rapport with a merchant, thoroughly explain the features and benefits of our product only to let the customer get away without asking for their business. There is nothing more important in sales than closing, and the best merchant salespeople live this day in and day out. They put themselves in the merchants shoes, listen to what the merchant is saying they want, and then they give it to them and go for the close. If you want to be #1 but you don’t know how to close, Email me at David@GraphitePayments.com and we will give you the tools you need to close deals and grow a profitable portfolio. 

Happy Selling,

David

 Isn’t it  great to be a merchant services salesperson?

 You make a good upfront bonus plus a monthly residual income. You become a person who is confident that they’ve mastered their craft. But just like anything else, the most successful people don’t get there without a plan and a process, and that usually involves constant planning, analysis, and adjustment. You can only get so far on natural ability, to be the best you need to always be critical and  keep a running dialogue going with yourself. That’s why successful salespeople usually ask themselves these five questions everyday:

1. What are my goals? 

Successful merchant sales people don’t sit around staring at their goals, but they are acutely aware of what they are at all times. This means their monthly, quarterly, or annual sales goals, their short and long-term financial goals, all the way down to their daily goals. Many of the best salespeople even get as granular as identifying their goals for a particular phone call or meeting, instead of just winging it and going in hoping for the best possible outcome. They say that “A goal without a plan is just a wish,”  but a plan without a goal is a map that leads nowhere.

2. Do I believe in myself? 

While we merchant salespeople tend to a be a relatively self-confident bunch, we also can get caught up in negative thinking and self-doubt, a result of a job where your results are routinely measured and impossible to hide. But if you don’t believe that you have what it takes to get better, to overcome your obstacles, and be the best, then you don’t have a chance in the world of ever getting there. Sales isn’t like a slot machine where the luck of the draw determines your success without any regard to how you feel about your own abilities. Sales is a marathon, where what you do everyday and how you do it determines whether you succeed or not, and even though there are lots of factors at play, the best will rise and become the best no matter where they go, partly because they believe in their abilities and never let external factors change that.

3. Where can I improve? 

Being self-aware enough to accept and level criticism at yourself is one of the best signs of emotional intelligence, and separates the best  merchant salespeople from everyone else. Someone who is arrogant enough to assume that they don’t ever do anything incorrectly or have no room to grow is destined to fall from grace the minute changes start happening, and they always do. Whether it’s admitting that you’re not doing enough follow-ups, or that you’re weak when it comes to asking the right questions, being able to take a long hard look at yourself every day and trying to get better is what will make you into the salesperson you know you can be.

4. Am I happy? 

This question is the one that is most likely to separate the best from the rest. There are so many merchant salespeople who either hate their jobs or tend to see the glass as half empty that it’s no wonder when those same people are not coming anywhere near their true potential. How many unhappy salespeople would you want to buy something from? The difference between the cream of the crop and everyone else is their  attitude. Happy salespeople aren’t always the ones who love every second of their job, and know with every fiber of their being that they are meant to work in sales. Sometimes, it’s the people who make the conscious choice to be happy with what they do, appreciate the amazing potential and benefits of their career, and understand that the happier they are, the better they will perform their job and that the success they achieve will result in more happiness that make the best salespeople.

5.How can I help someone today? 

There’s a quote by the great motivational speaker Zig Ziglar; “You can have everything in life you want, if you will just help enough other people get what they want.”

 There is nothing that’s more true, especially in sales. If you can change your frame of mind from thinking about how to sell someone to thinking about how you can help them, the selling part will take care of itself. Listen, identify what their problem is and offer the solution. Being helpful is so powerful that customers will oftentimes pay you more than someone else because you took the time to truly care about their problems, which gave you the most valuable currency a salesperson can ever have – trust.

Happy Selling,

David

“They” say the pen is mightier than the sword. Which is good, because you probably don’t want to threaten prospects into buying at sword-point.

As the primary “weapons” to convert prospects into merchants, words are incredibly important to merchant services salespeople.

How we as sales reps deliver our messages and converse with contacts can have a dramatic effect on the outcome of a conversation.

Using the wrong phrase might cast a negative shadow on the proposal, while tweaking just a few words in the pitch might induce a prospect to buy immediately.

The underlying message is certainly critical, but the words used to deliver it are equally so.

Words have power, use them wisely.

That’s why all salespeople should become world class word smiths. This list of 14 words will help you close more deals and earn your prospects’ trust in the process.

1. YOU

Selling is about your prospects. A simple way to make that clear is by using the word “you” as much as possible. Think back to your childhood — did your parents ever tell you it was impolite to talk about yourself? Apply that rule here. Every time you might be tempted to phrase a sentence from the perspective of yourself or your company, find a way to rework it to make your prospect the subject.

2. SERVICE & VALUE

Merchants don’t care about features and benefits” not entirely …

Colleen Francis, owner of Engage Selling Solutions, writes in her book Nonstop Sales Boom. “They only care about value and service and achieving their own objectives.” Again, it’s about them, not you. Skip over all the amazing features your product or service contains and instead make it clear how your offering will create value and service for your prospect’s business.

3. AND

“And” by its very nature is inclusive — you seem to agree even when you’re disagreeing. Consider these two examples of say a merchant wanting to buy some point of sale systems.

“I see that you only have a budget of $20,000 but let me tell you why our system costs $30,000.”

“I see that you only have a budget of $20,000 and let me tell you why our system costs $30,000.”

Notice how that the second sentence acknowledges the prospect’s budget, while the first steamrolls over the problem and makes the prospect feel ignored.

What a difference one word can make.

4. DO

Many sales experts recommend using “do” instead of “try.”

For instance, instead of “I’d like to try … ” say, “What I’ll do is … “

This makes YOU the sales person seem competent and trustworthy and boosts the prospect’s confidence in YOU.

5. OR

If you present a single proposal to a prospect, you only give them the option of accepting or rejecting that single proposal. But if you present them with two or three different variations on your proposal, suddenly you’ve doubled or tripled your odds of receiving some form of a “yes.” So, in negotiations don’t just ask if they’d like to sign the contract… paperwork I mean, ask if version A or version B or version C is preferable. Bonus word not to use.

Contract, always use Paperwork

6. SHOLD WE…

Most people balk at being told what to do – especially when the person dishing out orders is not a member of their organization. With this in mind, the phrase “you should” can come off as arrogant and presumptive. Reformulating suggestions as questions helps the prospect keep an open mind and diminishes the potential for the presentation to take a nasty turn. We like the word And are inclusive.

7. CONSENSUS

As we discussed on one of our Monday calls about cash discounting. Having studies or research can help a prospect see the value in your presentation.

So words that express agreement such as “support” or “consensus“or “research shows”

– could have a significant impact on your primary prospects mindset.

If you have backing or referrals from others in the industry or perhaps your own portfolio, play it up as much as possible. If you don’t, stress how you’re going to attain it.

8. IMAGINE

Stories stick in people’s mind more readily than sales messaging.

So the best sales reps don’t only use stories in their speech, they also make sure prospects see themselves as the protagonists. The word “imagine” can be helpful in this aim. Suddenly, the prospect isn’t just hearing about a better future enabled through your new product or service – they’re picturing themselves living it. And now the vision isn’t just in the salesperson’s mind; it’s a shared vision.

9. SEE, SHOW, HEAR, TACKLE

Okay, so this isn’t one word, but they’re all part of one family.

Each of these words evokes a sense, and sensory language grabs people’s attention. Think about how the words you use relate to visual, auditory, and kinesthetic triggers. Be aware of your tonality.

10. SAY THEIR NAME

Just like “you,” using your prospect’s name makes them feel like they’re the focus of your attention, and your presentation is customized just for them. People also naturally pay attention better when their name is sprinkled throughout a presentation.

11. POWER WORDS

The English language is filled with words that provoke strong feelings — fear, joy, discomfort, safety. A good sales presentation will summon all of these feelings and more at the right times. To hit all the appropriate high and low notes, incorporate power words into your speech. Jon Morrow’s list of 317 words that pack a punch is a good place to start.

12. BECAUSE

Ellen Langer, a social psychologist and professor at Harvard University, conducted a

study where she tested the impact of phrasing on people’s willingness to let someone cut them in line. Here are the variations she used:

1. “Excuse me, I have five pages. May I use the Xerox machine?”
2. “Excuse me, I have five pages. May I use the Xerox machine because I have to make some copies?”
3. “Excuse me, I have five pages. May I use the Xerox machine because I’m in a rush?” While only 70% agreed to let her cut in line when she used the first question, upwards of 90% let her skip when she used either the second and third phrasings. The takeaway?

When asking people to do something, always include a reason. Don’t just request that your prospect introduce you to a referral, tell them why your need it. Explain why you’d like them to take these actions.

13. PAPERWORK

There are certain words that are so toxic to a sales presentation that you just don’t want to use them ever. Contract is one of them. As a sales professional there are words that are sure to derail your sale. Don’t say things like, “If you will sign the contract…” or “If you decide to buy this system…” instead use these lines. “With your permission, I would like to get the paperwork started today so that we can schedule a follow up meeting next week to put this amazing new system in place for you” or “I am sure you already see the value of investing in a system like this one so let me point out a few other benefits for your specific business type.”

14. OPPORTUNITY

Problems are bound to crop up in the sales process, but that doesn’t mean you should acknowledge them as such.The word “problem” has a negative connotation, and can make the prospect feel as if the process is difficult and unpleasant. With this in mind, replace it with more positive words. Instead of saying “no problem,” for example, say, “it’s my pleasure. “ “I understand the problem” can become “I see an opportunity to make this run more smoothly.”

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You’ve just been blessed with an amazing opportunity. Where do you go from here and what do you do? Yes, there might be some big risks and you may be asking a lot of ‘what if’ questions. The exciting news is that if you really go after it and make it happen, it is going to be life changing.

You have a big dream inside of you and now it’s up to you to go out and make the commitment to go all in. Anything that is big and life-changing certainly does involve taking a big risk. You must have the faith and the belief in yourself that you will make this dream come true. There is no other choice. 

  Are you tired of just being average and not reaching your full potential. Are you just giving 50%?

Now is the time to make the decision. It’s time to be 100% all in and go after your dream. There is far more to life than just being mediocre. You were designed for greatness.

Far too many people are looking for the easy way to success. The truth is, there are no shortcuts when it comes to success. So what is it going to take to achieve great success? The first step is you have to have incredible determination. Everyone has dreams, and everyone wants to live a successful life. It all comes down to how bad you really want it. You have to be willing to sacrifice the things that most people won’t.

  It’s all about commitment and focus. This means, there are no more excuses. As long as you make excuses, you will not have success. It is vital that you let go of all the excuses. Excuses stop you from achieving your dream. Find out what your true purpose is and make the commitment to go all in 100%. 

 What I have found, in the thousands of people that I have met, is that some people are interested in success while others are committed to succeed. One has wishful thinking while the other takes 100% responsibility. If a person is only interested in success, they will find all the excuses to give up. When one is committed, they will take full responsibility, and they will go after their dreams with full dedication and commitment.

  This is why it’s important to know exactly WHY you want to succeed.

Why is it important for you to have this success?

Write these reasons and write them out right now. Understanding your WHY will help you to get to that next level in your life. 

  Now is your time! You are going to have to make some behavioral changes along with some sacrifices. You have to make every second count. It’s time to grind. It’s time for you to have incredible success. This means you have to be working day in and day out on your goals. You know exactly what you’re supposed to accomplish and you are going after it with absolutely everything that you have. You are unstoppable! You will have incredible success! 

Your opportunities are here. You must believe without a shadow of a doubt that you will be successful. There will be others that may question you or even doubt you. As a matter of fact, the ones closest to you may not encourage you. That does not matter. This is your dream. By the way, let me remind you that this will not be super easy. The road to success is always under construction. You can have amazing success, but the question is, how bad do you really want it?  The only way that you’re going to achieve it is that you have to be 100% committed, never giving up and most of all you have to be ALL IN!

Happy Selling,

David

This Sunday everyone knows Mother’s Day is the day to celebrate our mom’s and show them just how much you love and appreciate her. But just how many people plan to do that each year? 

Here are a few facts and stats about Mother’s Day that might surprise you. 

From the home office in Celebration, Florida , Here are

The Top 10 Thing You Might Not Know About Mother’s Day…

Here we go,

10. Mother’s Day was first suggested by a famous poet.

The woman who first proposed Mother’s Day in 1870 was the same woman who wrote the lyrics to “The Battle Hymn of the Republic.” After the Civil War, writer Julia Ward Howe suggested a Mother’s Day to recognize peace and protest war. She organized annual events in Boston to honor mothers, but despite her work (and her moving “Mother’s Day Proclamation”), nothing official came of her efforts.

9. Mother’s Day founder Anna Jarvis fought back against the commercialization of the holiday.

Although Julia Ward Howe first suggested a day for mothers, Anna Jarvis (who had no children of her own) campaigned for a national day of observance for moms, in remembrance of her own mother, Ann Jarvis, who had spent years working to provide resources for poor mothers in West Virginia. Mother’s Day became a designated holiday in 1914, but within a few years, Jarvis became disgusted with how commercial the day had become and started a petition to rescind the holiday. (That clearly didn’t come to pass.)

8. People spend a lot of time on the phone on Mother’s Day.

In 2020, during the early days of the pandemic, Verizon reported a 13-percent increase in phone call volume in the U.S. on Mother’s Day when compared to a typical pre-pandemic Sunday. Text messages also went up 25 percent over the previous Sunday. That amounted to 1.75 billion minutes of phone calls and 6 billion texts. While much of that can be attributed to the social isolation experienced during Mother’s Day 2020, it wasn’t too far off from the 11-percent increase in calls that Verizon observed on the holiday in 2018 when compared to a normal Sunday.

7. It’s usually the busiest day of the year in the restaurant industry.

Though recent years have changed this somewhat, Mother’s Day is typically the busiest day of the year for restaurants, with some 80 million adults dining out (which tops even Valentine’s Day). In 2022, it’s estimated that 57 percent of people plan to “gift a brunch, dinner or other special outing this Mother’s Day.”

6. The jewelry and spa services industries get Mother’s Day boosts, too.

According to the National Retail Federation (NRF), more than $31 billion will be spent on gifts this Mother’s Day, with more than $7 billion of that going toward jewelry. Clothing, electronics, and personal services (like spa treatments) will also be popular gifts for mom.

5. The flower industry is a big Mother’s Day’s winner…

Carnations quickly became the symbol of Mother’s Day (supposedly representing the tears of Mary when Jesus was crucified) when it began in 1914. Soon, the floral industry promoted the idea of wearing a red carnation to honor a person’s living mom or a white carnation to honor a mother who had passed. Although this tradition has faded, 72 percent of moms are still going to get flowers from their loved ones on this special day.

4. …but nothing beats a classic greeting card.

In total, 75 percent of people are buying mom a card this year for Mother’s Day. That edges out flowers as the most-purchased gift for mom, according to the NRF.

3. Moms around the world are recognized with days throughout the year.

Many countries have a version of Mother’s Day, but the traditions vary depending on where you are. In Thailand, parades are held in honor of moms, with jasmine given out as a common gift; meanwhile, moms are celebrated in Ethiopia during a three-day festival that involves plenty of food and singing.

2. There are billions of moms in the world.

It’s estimated that there are 2.2 billion moms worldwide, with 85 million of them residing in the United States.

And the #1Thing You Might Not Know About Mother’s Day is …

1. People spend far more for Mother’s Day than Father’s Day.

If there were a monetary competition between the parental appreciation days, mothers would win outright. In 2022, people spent an average of $174 on Father’s Day, compared to the $245 that people are expected to spend on Mother’s Day 2022. Sorry, Dad.

Happy Mother’s Day!