Friday’s Top 10 Ways to Conquer Square

As we have discussed the last few days Square’s ubiquity can be intimidating, but as seasoned sales professionals, we know they’re not invincible. Armed with the right strategies, you can consistently win deals and demonstrate the superior value you bring. Let’s dive into this Friday’s top 10 tactics to overcome Square:

From the Home Office in TIMES SQUARE, NEW YORK

Here are the Top 10 Ways to Conquer Square

10. Unbundle the “Ecosystem” Illusion:

• Square sells convenience with its bundled tools. Break down their offerings. Show prospects that they don’t need to be locked into a single platform. Highlight the benefits of best-in-class, integrated solutions that you provide.

9. Emphasize Personalized Support:

• Square’s customer support is often limited. Position yourself as a dedicated partner, offering personalized support and a direct line of communication. Businesses crave that human touch, especially when issues arise.

8. Showcase Industry-Specific Expertise:

• Square is a generalist. Demonstrate your deep understanding of your prospect’s industry. Offer tailored solutions that address their unique needs, a level of specialization Square can’t match.

7. Highlight Hardware Flexibility (and Cost Savings):

• Square’s proprietary hardware can be costly. Emphasize your solutions’ compatibility with a wider range of hardware, including potentially existing equipment. Reveal the true cost of squares hardware.
  • Example hardware costs to consider mentioning.
    • Square Reader for contactless and chip: $49
    • Square Stand for contactless and chip: $149
    • Square Terminal: $299
    • Square Register: $799

6. Offer a Free Cost Analysis:

• Numbers don’t lie. Provide a detailed cost analysis comparing Square’s fees to your solutions. Show prospects exactly how much they can save by switching.

5. Educate on Interchange-Plus Pricing and True Dual Pricing:

• Square’s flat-rate model can be expensive for high-volume businesses. Explain the benefits of interchange-plus pricing and Dual pricing and how it can significantly reduce or eliminate their costs.

4. Focus on Advanced Features:

• Square’s tools are often basic. Showcase the advanced features of your solutions, such as robust reporting, advanced fraud prevention, and specialized integrations.

3. Highlight True Dual Pricing:

• Square’s cash discounting often falls short. Offer transparent, compliant dual pricing solutions that genuinely reward cash payments, boosting customer satisfaction and the bottom line.

2. Emphasize Account Stability:

• Square’s aggregator model can lead to sudden account holds or terminations. Offer the stability of individual merchant accounts, providing peace of mind and secure fund access.

And the #1 Top 10 Ways to Conquer Square is …

1. Position Yourself as a Trusted Advisor:

• Go beyond being a salesperson. Become a trusted advisor who understands your prospect’s business. Offer strategic insights and long-term solutions, building a relationship that Square can’t replicate.

By implementing these strategies, you’ll not only overcome Square’s perceived advantages but also demonstrate the superior value of your merchant services. Remember, it’s about building relationships, providing expertise, and offering tailored solutions that truly benefit your clients. Go out there and win!

Have a great weekend,

David