Let’s face it: selling merchant services isn’t always a walk in the park. You’re often met with skepticism, hesitation, and even outright resistance. Why? Because many merchants have been burned before.
They’ve dealt with pushy salespeople, hidden fees, and contracts that felt like a trap. They’ve been promised the world and delivered something far less. On top of that, the thought of switching providers seems like a massive hassle.
So, how do you break through these barriers and win over skeptical merchants? It starts with understanding their psychology:
1. “Once Bitten, Twice Shy”: The Fear of Being Burned Again
Past negative experiences leave a lasting impact. Merchants who have been misled or mistreated by previous providers are understandably wary. They fear hidden fees, complicated contracts, and poor customer service.
- Our strategy: Acknowledge their concerns. Openly address the “elephant in the room” by saying something like, “I know you might have had some negative experiences in the past. We’re different…” Then, back up your words with actions. Be transparent about your pricing, offer flexible agreements, and provide exceptional service.
2. “If it Ain’t Broke…”: The Inertia of Sticking with the Status Quo
Even if they’re not completely satisfied with their current provider, merchants may be reluctant to switch. Change can be disruptive, time-consuming, and even a bit scary.
- Our strategy: Highlight the “painless switch.” Emphasize how easy and seamless the transition can be. Offer to handle the paperwork, provide dedicated support and installs, training, and minimize any disruption to their business.
3. “Show Me the Money”: The Need for Tangible Benefits
Merchants are pragmatic. They want to see a clear return on their investment. Vague promises and fluffy marketing jargon won’t cut it.
- Our strategy: Focus on tangible benefits. Quantify the value you offer by showcasing potential value, increased efficiency, and revenue growth. Use data, case studies, and real-world examples to demonstrate your impact.
4. “Time is Money”: The Value of Efficiency
Merchants are busy people. They don’t have time for complicated setups, lengthy contracts, or endless phone calls.
- Our strategy: Streamline the process. Make it as quick and easy as possible for them to understand your services, sign up, and get started. Offer online applications, clear documentation, and responsive support.
5. “What’s the Catch?”: The Skepticism of “Too Good to be True”
If your offer seems too good to be true, merchants may assume there’s a hidden catch.
- Our strategy: Be upfront and honest. Clearly explain your pricing structure, any agreement terms, and any potential fees. Avoid using jargon or making unrealistic promises.
By addressing these psychological barriers head-on, you can build trust, overcome objections, and ultimately win over even the most skeptical merchants.
Remember, it’s about building genuine relationships and demonstrating that you’re a partner they can rely on.
Happy Selling,
David
Payment Lynx Daily 