Let’s be honest, selling merchant services isn’t always glamorous. It’s a grind. It’s building relationships, understanding complex pricing structures, and navigating the sometimes-choppy waters of small business finances. But there’s a secret weapon that separates the average sales rep from the rockstars:
The follow-up. The FU money, that comfortable cushion of consistent residuals, isn’t built on closing every deal on the first call. It’s built on the persistent, strategic, and valuable follow-up.
Think about it. How many times have you made a significant purchase on a whim? Probably not often. Big decisions, especially financial ones, require consideration, research, and trust. Your potential clients are no different. They’re busy, bombarded with information, and likely have existing systems in place. That’s where the follow-up comes in. It’s your chance to demonstrate your expertise, build rapport, and ultimately, earn their trust and business.
Why is Follow-Up So Crucial in Merchant Services?
- Building Trust: Consistent, helpful communication shows you’re invested in their business, not just your commission. It demonstrates reliability and builds the foundation for a long-term relationship.
- Addressing Concerns: Initial conversations often raise more questions than answers. The follow-up allows you to address specific concerns, clarify pricing, and overcome objections.
- Staying Top of Mind: Small business owners are juggling multiple priorities. A gentle, timely follow-up keeps you and your services at the forefront of their mind when they are ready to make a decision.
- Demonstrating Value: Use follow-ups to share relevant industry insights, success stories, or even quick tips on payment processing optimization. This positions you as a valuable resource, not just a salesperson.
- Persistence Pays Off: Sometimes, “no” really means “not right now.” A consistent, respectful follow-up strategy can turn a “no” today into a “yes” tomorrow.
Effective Follow-Up Strategies:
- Personalized Communication: Avoid generic emails. Reference specific details from your previous conversation to show you’ve been listening.
- Vary Your Approach: Mix it up! Phone calls, emails, LinkedIn messages, even a handwritten note can be effective, depending on the client and the context.
- Set Clear Expectations: At the end of each interaction, outline the next steps and when you’ll be in touch again. This shows professionalism and keeps the conversation moving forward.
- Provide Value: Don’t just ask for the sale. Offer helpful resources, industry insights, or even a complimentary consultation.
- Be Patient and Persistent: Sales cycles can be long. Don’t get discouraged if you don’t hear back immediately. Consistent, respectful follow-up is key.
- Know When to Walk Away: While persistence is important, recognize when a prospect is truly not interested. Respect their time and move on to other opportunities.
The merchant services industry is competitive. The FU money isn’t earned by magic; it’s earned through consistent, valuable follow-up. By building trust, addressing concerns, and staying top of mind, you can transform leads into loyal clients and build a thriving business. So, embrace the follow-up. It’s where the real money is made.
Happy Selling,
David
Payment Lynx Daily 