One of the major goals of your business should be to get you in front
of as many qualified merchants as possible. But in many cases people
need to hear you and know who you are before they agree to see you.
In todays market, everyone with something to sell is using a variety
of mediums to get a message out, such as direct mail, on-line
advertising, telemarketing, blogs and even radio and TV. There are
thousands of ISOs that collectively spend millions of dollars in
advertising, not to mention what the card companies spend to build
their individual brands. Did you know that the average consumer is
exposed to more than three thousand advertisements a day? So how do
merchant service providers get heard over companies with larger
advertising budgets?
Advertising techniques have come a long way since many of us started
in this industry. There are more ways than ever to get the message
out and even more competition vying for the same prospects. There are
so many ISOs and agents trying to get their message heard (with
fingers crossed when it comes to advertising products and services)
in hopes that somewhere out there, a prospect will respond to them.
Merchants are often full of confusion when deciding whose service to
use, what product to buy or what add-ons they require. There are so
many choices! What makes you stand out?
My advice - get back to the basics!
In simpler times people belonged to a community and knew their
neighbors and service providers by their first names. People had
relationships and worked with people they knew and liked. Well we all
know that we dont live in the simpler times of yesterday, but in a
complex and often chaotic society.
Today people are so busy in their own lives that they dont always
know what to think about things outside their immediate circle. They
get confused about the vast number of choices available for products
and services. So, to ease the confusion, what do you, as a consumer,
do? What do you think your prospects are doing? Theyre asking
someone they know and trust for advice. Many are asking the trusted
professionals they already work with who they would recommend for
their merchant service needs.
The good news is many professionals outsource things in which they
dont specialize, which means the potential for new merchants is
endless. Generally, business owners use a myriad of professionals and
consultants to help them maneuver the in and outs of tax, legal and
insurance requirements.
The professionals your potential clients are going to for these
services are right in your community. You need to become part of that
community and create relationships with people who are already
working with your ideal merchant. Become the trusted merchant service
provider who works with these professionals, and get introduced to
more merchants than you can handle.
So, what other professionals are your ideal clients working with? I
would recommend targeting five professional fields and make it a goal
to align your business with ten professionals in each category.
Naturally your targeted list will depend upon the niche markets you
are working, but here are a few to consider.
CPAs
Do merchants have to pay payroll taxes, file quarterly and annual tax
returns? Of course, thats a necessity. Do you think it would be a
good idea to create a relationship with a CPA whos already seeing
business owners in your market? CPAs are one of the most trusted
professionals that business owners work with, get ten CPAs sending
you business and you are off to the races.
Consultants
Are there consultants who service your niche markets? If you take
restaurants for example, you have a variety of consultants you can
target, from point-of- sales vendors, to menu planners. Pick the best
consultants that work with your target merchant.
Commercial Insurance Brokers
Do business owners need insurance? They purchase workers
compensation insurance, liability insurance and host of other
insurance products on a regular basis. Target commercial insurance
brokers who have large established account bases and you can work out
a cross-referral program where everyone wins.
Business brokers
Are there businesses being bought and sold in your area? When a
merchant buys a new business he naturally needs a new merchant
account or new equipment. This is a perfect fit.
Commercial realtors
Again, is there anyone buying, selling or leasing commercial real
estate in your community? Commercial real estate brokers can give
you hot referrals of new businesses just getting started or
relocating to your area.
Get back to the basics and you will overcome the challenges of an
over communicated society. Step back in time, refocus on the
fundamentals and become part of your community again. Build solid
business relationships with trusted members of your community and
your sales numbers will soar.
|
