You’ve just finished a fantastic presentation to a local business. You’ve presented them a steller proposal on how your payment processing solution can save them money, streamline their operations, and boost their bottom line. They seem genuinely interested. But then… you hesitate. You fumble through some vague next steps, maybe mention following up, and leave the meeting feeling like something’s missing.
Sound familiar? You’ve likely fallen prey to a common pitfall in sales reps make: Not Asking for the Business.
It’s easy to assume that a captivated business owner will naturally sign up if they’re interested. But in the competitive world of sales, assuming the sale is a costly mistake. Here’s why:
- Competition is fierce: Merchants are bombarded with offers. If you don’t seize the moment, a competitor will.
- Inertia is real: Even with the best intentions, business owners get busy. Without a clear call to action, the deal can stall and lose momentum.
- Objections linger: Unspoken concerns can derail the sale. By not asking for the close, you miss the opportunity to address those final hesitations.
Closing the deal requires a confident and direct approach. Here’s how to do it effectively:
- Summarize the value proposition: “So, with [your solution], you’ll be saving [amount] per month and enjoying [key benefits].”
- Present a clear choice: “Are you ready to start processing payments more efficiently with [your company]?”
- Offer a compelling incentive: “If you sign up today, we can waive the setup fee.”
- Handle objections proactively: “I understand you might be hesitant about switching providers. What are your main concerns?”
- Tailor Your Close: Every business is different. A small retail store has different priorities than a high-volume e-commerce business. Customize your closing approach to resonate with their specific needs and pain points.
- Speak their Language: Avoid jargon and technical terms. Focus on the tangible benefits that matter most to them – increased efficiency, cost savings, and improved customer experience.
- Position Yourself as a Partner: Go beyond just selling a service. Present yourself as a trusted advisor who can help their business grow.
- Streamline the Process: Have your paperwork ready to go. Make the signing process as smooth and effortless as possible. The longer the delay, the higher the chance of losing the deal.
- Anticipate Next Steps: Clearly outline what happens after they sign. Explain the onboarding process, installation timelines, and when they can expect to see the benefits.
- Reinforce their Decision: Congratulate them on making a smart choice. Reiterate the value they’ll receive and express your commitment to their success.
By incorporating these strategies into your closing approach, you’ll not only increase your closing rate but also build stronger, more profitable relationships with your merchant clients.
Happy Selling,
David
Payment Lynx Daily 