Friday’s Top 10 Things Merchant Services Salespeople Are Tired of Hearing

Being a merchant services salesperson is a tough gig. You’re constantly navigating a complex landscape of people, competition, and customer needs. And let’s be honest, you hear the same objections and misconceptions over and over. So, let’s pull back the curtain and reveal the top 10 things these professionals are absolutely tired of hearing.

From the Home Office in Scratch Ankle, Alabama Here are

The Top 10 Things Merchant Services Salespeople Are Tired of Hearing

10. “I’m happy with my current provider.”

• Why it’s tiring: Sure, maybe they are. But “happy” doesn’t mean “getting the best deal.” It’s often a knee-jerk reaction to avoid a conversation. Salespeople know there’s often room for improvement, and they’re just trying to help.
• What they’re thinking: “Okay, but are you really happy? Or just comfortable? Let me show you what you might be missing.”

9. “I’ll just ask my bank about merchant services.”

• Why it’s tiring: Banks often outsource their merchant services, meaning the customer may not get the best rates or personalized service. Plus, it limits the comparison options.
• What they’re thinking: “That’s fine, but you’ll likely get a standardized, possibly more expensive, solution. We specialize in finding the best fit.”

8. “I don’t need to accept credit cards.”

• Why it’s tiring: In today’s economy, not accepting cards drastically limits a business’s potential customer base. Cash-only is a dying model.
• What they’re thinking: “You’re turning away a huge portion of potential sales. Do you really want to limit your business like that?”

7. “Your rates are too high.”

• Why it’s tiring: Rates are just one piece of the puzzle. Total cost, service, and technology matter too. Plus, often the salesperson has not even had the chance to fully explain the rate structure.
• What they’re thinking: “Compared to what? Let’s break down the actual costs and value you’ll receive.”

6. “I don’t have time for this.”

• Why it’s tiring: Everyone is busy, but taking a few minutes to explore potential savings and efficiency improvements can be a wise investment.
• What they’re thinking: “Just a quick conversation could save you time and money in the long run. Isn’t that worth a few minutes?”

5. “I’m not interested.” (Without even hearing the offer)

• Why it’s tiring: It’s a closed door before the conversation even starts. How can someone know if they’re not interested without understanding the potential benefits?
• What they’re thinking: “Give me a chance! You might be surprised at what we can offer.”

4. “I already have a friend/family member who handles that.”

• Why it’s tiring: While loyalty is admirable, it doesn’t always guarantee the best solution. Business decisions should be based on value, not just personal connections.
• What they’re thinking: “Okay, but is your friend/family member offering the most competitive rates and cutting-edge technology? Let’s compare.”

3. “I don’t want to sign a long-term contract.”

• Why it’s tiring: Many contracts are designed to protect both the business and the provider, ensuring stability and consistent service. Also, many providers have month to month options.
• What they’re thinking: “Let’s discuss the contract terms and why they’re beneficial. We also have flexible options available.”

2. “I don’t understand all these fees.”

• Why it’s tiring: Merchant services pricing can be complex, and explaining it requires patience and clarity. It’s frustrating when the customer refuses to engage in understanding the fees.
• What they’re thinking: “Let’s break it down step by step. I’m here to answer all your questions and make it clear.”

The #1 Top 10 Things Merchant Services Salespeople Are Tired of Hearing is …

1. “I got a better rate from [insert competitor name].”

• Why it’s tiring: This is often used as a negotiation tactic, and sometimes the “better rate” doesn’t include all the fees or services. Also, it is very hard to compare “rates” without looking at the entire processing statement.
• What they’re thinking: “Let’s see that offer. Let’s do a true apples-to-apples comparison and see what you’re really getting.”

Merchant services salespeople are professionals who want to help businesses thrive. Understanding their frustrations can lead to more productive conversations and better outcomes for everyone involved.

Have a great weekend,

David