Did You Miss It? The Cost of Missing the Details in Merchant Services Sales

The Experiment: The Missing Post

Today, I ran a little experiment. I intentionally did not send the blog post out at the usual time.

Why? To see who would notice, and more importantly, how long it would take.

As of 10:03 AM Central, I’ve received:

• 1 phone call
• 2 text messages

That’s only three people out of our entire list who recognized a deviation from the established routine and reached out to ask about it.

WWYD Scenario: What Are You Missing?

Normally, Wednesdays are reserved for our “What Would You Do” (WWYD) scenarios. Today’s scenario is less about a tough close and more about a fundamental principle that applies to everything we do: Attention to Detail.

This blog post is silly, yes, but the work we do out in the field is anything but. It’s important. It requires us to be expert intelligence gatherers.

Missing the small details can cost us big money. Let’s look at the kinds of details we should be tracking:

In Your Portfolio & Pipeline

• Are Your Merchants Still Processing? I make it a point to track this every other Monday or on Sunday evenings. Don’t wait until the residual check hits (or doesn’t) to notice they’ve gone dark.
• When was the last time you checked in? A lack of processing volume is a warning sign that your competitor may be in the building.

In the Wild (Everyday Observation)

When you are out and about, are you actively scouting?

• POS System Check: When you’re out to dinner, do you clock what POS system is being used? I do. It’s become a running joke with my wife—she’ll ask, “What system are they using?” before we even sit down or get back in the car. It’s almost unconscious now. This should be you!
• Service Flow: Do you notice if the waitstaff is using a modern tablet, or walking back and forth to a terminal?
• Kitchen Setup: Do you notice a missing kitchen printer? Is everything handwritten?
• Body Language: Do you pay attention to your prospects’ body language during a pitch? Are they leaning in? Checking their watch?

Specialized Observation

• Mobile Services: How are specialized businesses taking payments?
  • How do wrecker services take your card?
  • Are they calling the payment in?
  • Are they using a clunky, old-school wireless terminal?

The Takeaway

The same lack of detail that kept you from noticing a missing 6:00 AM email is the same lack of detail that will cause you to:

1. Miss a critical red flag on a merchant’s statement.
2. Overlook a key operational pain point that your solution could fix.
3. Fail to notice a competitor’s new terminal being installed in your top restaurant account.
4. Drive right past a prime prospecting opportunity that has a terrible, outdated POS system.

Our success is in the minutiae. Train yourself to see the details, not just the big picture. Start with your inbox, and then apply that razor-sharp focus to the field.

Pay attention. It pays.

Happy Selling,

David