It’s easy to get trapped in a race to the bottom on rates. But the top performers know the real secret: your relationship is more valuable than your rate. Building powerful rapport is the ultimate differentiator that turns a one-time sale into a long-term, profitable partnership.
Rapport is the bedrock of trust in an industry often filled with skepticism. It allows you to connect with business owners on a human level, understand their real-world problems, and become a trusted consultant, not just another salesperson. Here are the 8 best ways to build that game-changing rapport, starting today.
1. Listen for the Pain, Not Just the Price Active listening in our business isn’t just about hearing “What’s your rate?”. It’s about digging deeper. When a prospect mentions their current provider, listen for the emotion behind their words. Are they frustrated with slow batch times? Confused by their monthly statement? Worried about chargebacks? These pain points are your entry point. By showing you understand their specific operational headaches, you prove you’re there to solve problems, not just sell a terminal.
2. Find Common Ground in Their Business You’re talking to fellow entrepreneurs. The fastest way to build a connection is to show genuine interest in what they’ve built. Instead of generic small talk, try:
- “This is a great location. How has business been since the new development down the street opened up?”
- “I see you’re using a tablet for orders. How is that working out during your lunch rush?”
- “Your online reviews are fantastic. What’s the secret?” Connecting over their business shows you respect their hard work and see them as more than just a potential account.
3. Tune Into Business Emotions (Emotional Intelligence) A business owner’s emotions are tied directly to their livelihood. High emotional intelligence means recognizing their stress about cash flow, their pride in a new menu item, or their anxiety about PCI compliance. By acknowledging these emotions (“I know these statements can be intentionally confusing,” or “It sounds like that last terminal failure cost you a lot during the dinner rush”), you validate their experience and build trust that you’re on their side.
4. Build Credibility That Can’t Be Faked Trust is everything. In an industry known for hidden fees and broken promises, you build credibility through radical transparency.
- Demystify the Statement: Walk them through their current provider’s statement and explain the fees. Be the person who brings clarity, not more confusion.
- Use Relevant Social Proof: Instead of a generic testimonial, say, “I work with the coffee shop down the street. We helped them implement pay-at-the-table to speed up their morning line by 30%.”
5. Tailor the Solution, Not Just the Pitch A one-size-fits-all approach is a death sentence in merchant services. A restaurant needs tip-adjust and server IDs. A retail store needs inventory integration. An auto shop needs a way to handle surcharging legally and effectively. By customizing your solution to solve their specific operational challenges, you demonstrate that you’ve been listening and that you’re an expert in their field.
6. Communicate with Purpose and Punctuality Don’t be the rep who disappears after the first meeting. If you promise a cost analysis by Tuesday, deliver it on Tuesday. After an install, a quick call a week later to ask, “How is the new system working for you?” is incredibly powerful. This reliability shows you respect their time and are committed to their success, reinforcing the trust you’ve built.
7. Evolve from Salesperson to Payment Partner Closing the deal is the beginning, not the end. Nurture the relationship by becoming a long-term resource.
- Send them a quick email about upcoming product launches.
- Let them know about a new software feature that could benefit their business.
- Check in before their busy season to ensure everything is running smoothly. When you provide value outside of the transaction, you become an indispensable partner, and they’ll never think of leaving you for a few basis points.
8. Become the Lifelong Payments Expert The payments landscape is constantly changing—new technology, new regulations, new software. The more you know, the more valuable you are. When you can confidently explain the benefits of NFC payments, the nuances of interchange optimization, or the latest in data security, you elevate yourself from a salesperson to a trusted advisor. This expertise is the ultimate rapport-builder.
In a crowded market, your ability to build genuine rapport is your competitive advantage. By mastering these strategies, you’ll create loyal customers, generate more referrals, and build a business that lasts.
Happy Selling,
David
Payment Lynx Daily 