The 3 NO Rule

Tired of spinning your wheels with merchants who just aren’t interested? It’s time to embrace the 3 No’s Rule.
In the competitive world of merchant services, you need every edge you can get. Chasing every lead, even those giving off “not interested” vibes, drains your energy and hurts your bottom line. Enter the 3 No’s Rule, your new secret weapon for qualifying leads and closing more deals.
What’s the 3 No’s Rule?
Simple: If a merchant gives you three “no’s” in a single conversation, it’s time to politely disengage and move on. These “no’s” might sound like:
* No to a meeting: “We’re too busy to meet right now.”
* No to a proposal: “We’re not interested in seeing a proposal at this time.”
* No to discussing current processing: “We’re happy with our current processor.”
* No to pricing: “Your rates are too high.”
* No to features: “We don’t need those features.”
Why This Rule Rocks for Merchant Services:
* Maximize Your Time: Focus on merchants who are genuinely interested in exploring your services.
* Boost Your Efficiency: Qualify leads faster and close deals quicker.
* Stay Positive: Avoid the frustration of constant rejection and keep your morale high.
* Build Relationships: Respecting a merchant’s “no” shows professionalism and keeps the door open for future opportunities.
Important Considerations:
* Read Between the Lines: Is it a true “no” or a hidden objection? Maybe they need more information or have a concern you can address.
* Be Adaptable: The 3 No’s Rule is a guideline, not a rigid rule. Use your judgment and adjust your approach as needed.
* Leave a Good Impression: Even if it’s not a fit now, express gratitude for their time and leave a positive lasting impression.

Don’t Forget the Power of Follow-Up:
While the 3 No’s Rule helps you prioritize your time, remember that situations change. A “no” today could be a “yes” tomorrow. Make a note to follow up with the merchant in a few months. Their needs may have evolved, or they may be more receptive to your services at a later date. This keeps you top-of-mind and demonstrates your commitment to their business.

The 3 No’s Rule is a game-changer for merchant services professionals. By implementing this simple strategy, you can take control of your sales process, boost your close rate, and achieve greater success.

Ready to say “yes” to the 3 No’s Rule and “no” to wasted time?

Happy Selling,

David