When you’re out there selling merchant services, you’re bound to hear a few common concerns from potential clients. These usually boil down to worries about cost, complexity, and security.
From the Home Office In Fees Are Too High, Arizona,
let’s break down this Friday’s top 10 objections you’ll face and how to tackle them.
10. “Your fees are too high.”
- Why they say it: Business owners are always keeping an eye on their bottom line. They’re likely comparing your fees to their current setup or what they think they should be paying.
- Your move: Don’t just talk about the cost – talk about the return on investment (ROI). Explain how surcharge or dual pricing options can offset fees, or highlight the bigger picture: increased sales, improved customer experience, enhanced security, and the time/money savings your service brings.
9. “I’m happy with my current provider.”
- Why they say it: Change is tough! If their current system works, even if it’s not perfect, they don’t see a compelling reason to switch.
- Your move: Focus on demonstrating superior value. What makes your service truly better? Highlight unique features, better terms, or specific pain points your service resolves that their current provider doesn’t.
8. “Your system is too complicated.”
- Why they say it: Fear of new tech is real. Business owners and their staff worry about a steep learning curve and the time it takes to get up to speed.
- Your move: Emphasize simplicity and support. Showcase how user-friendly your system is, and highlight the comprehensive training and ongoing support you and your company provide.
7. “Switching providers is a hassle.”
- Why they say it: They’re picturing disruption, downtime, and headaches. They just want their business to run smoothly.
- Your move: Reassure them with a promise of a streamlined transition. Explain your seamless switching process, including data migration and how you ensure minimal downtime.
6. “Security of customer data is a concern.”
- Why they say it: Data breaches are everywhere. They need to know their customers’ sensitive information is safe.
- Your move: Prioritize security assurance. Detail your compliance with industry standards like PCI DSS and the advanced security measures you use, such as encryption and tokenization.
5. “It’s too expensive for a small business like mine.”
- Why they say it: Small businesses often feel larger services are out of their league or budget.
- Your move: Offer affordable, flexible options. Show them scalable pricing plans that fit businesses of all sizes, proving that advanced services are accessible.
4. “What if there’s a problem with the system?”
- Why they say it: Reliability is crucial. They fear technical glitches that could halt operations and annoy customers.
- Your move: Build trust and reliability. Share testimonials, case studies, or data on your system’s uptime and the responsiveness of your customer support.
3. “I don’t want to be locked into a long-term contract.”
- Why they say it: They want flexibility and don’t want to be stuck if the service isn’t a good fit or their business needs change.
- Your move: Present flexible contract options. Highlight month-to-month agreements or trial periods to reduce their perceived risk.
2. “The setup process will disrupt my business.”
- Why they say it: The thought of installation and training during peak hours is a nightmare for most businesses.
- Your move: Guarantee minimal disruption. Explain how your setup process is designed to be quick and convenient, with options for off-peak installations and training.
And the #1 objection you’ll face and how to tackle them is …
1. “There are too many options; it’s overwhelming.”
- Why they say it: The sheer volume of hardware and software choices can paralyze decision-making. They don’t know what’s best for them.
- Your move: Offer a personalized consultation. Position yourself as a guide who can help them navigate the choices and pinpoint the perfect fit for their specific needs, rather than just another salesperson.
By truly understanding and effectively addressing these common objections, you’ll be much better equipped to position your merchant services as an invaluable asset to any prospect’s success.
What are your go-to tips for handling client objections? Let’s share some insights!
Have a great weekend,
David
Payment Lynx Daily 