We’ve all been there. You have a great client who’s saving a ton of money, and you’ve built a solid relationship. Then, out of nowhere, a friend of the business owner — let’s call him “the expert” — gets in their ear and gives them some misinformation.
Recently, I was speaking with a fellow sales pro who’s in this exact situation. His client, an auto repair shop owner, is on a dual pricing program and saving thousands of dollars a year. But a friend told him that dual pricing and cash discounting are illegal.
The agent, who has years of experience, explained to his client that these programs are perfectly legal and are a huge benefit to his bottom line. However, the client is insistent. He wants to be taken off dual pricing and put back on traditional pricing, even though it will cost him significantly more.
This is a good residual account for the agent, and moving the client to a traditional Interchange Plus model would reduce his residuals a good bit.
So, what would you do?
This is a tricky position to be in. You want to keep the client happy and maintain the relationship, but you also know that what they’re asking for is a financially poor decision for their business.
Here are a few options to consider:
- Educate, Educate, Educate: Your first instinct might be to double down on the facts. Provide the client with clear, concise, and verifiable information from reputable sources. This could include a link to a major credit card brand’s policy on cash discounting or a state-specific legal guide. Sometimes, seeing it in writing from an official source can sway a stubborn merchant.
- A “Trial” Run: Propose a temporary solution. Suggest that the client try traditional pricing for a month or two. This allows them to see the difference in their monthly statement firsthand. When they see the higher costs, they may come back to dual pricing on their own. This gives them control and shows that you respect their wishes while letting the numbers do the talking.
- The Honest Conversation: Sometimes the best approach is the most direct. Have an honest conversation with your client about the impact this will have on their business and your relationship with them. You can say something like, “I’m happy to switch you over, but I want to be transparent about what this means for your business. You’ll likely see your processing costs go up by X amount, and it’s difficult for me to see you give up those savings.” This positions you as their trusted advisor, not just a salesperson.
What I would probably do…
Personally, I’d probably start with the “Trial” Run option. It’s a low-pressure way to empower the merchant to make their own decision based on real data, rather than misinformation from a friend. It demonstrates that you’re on their side and want what’s best for their business, even if it means a temporary hit to the residuals.
So, fellow sales pros, what’s your take? How have you handled situations like this in the past? Let me know in the comments below!
Happy Selling,
David
Payment Lynx Daily 