On Monday, October 9, at 6:00 p.m. EST I am hosting a big live event to interview the founder of the company who created the Poynt terminal. If you...
Closing Sales with Poynt – Sell Credit Card Processing
I am excited about the Poynt terminal! I strongly believe this terminal is going to dramatically change the industry in a big way. It’s really small, about the size of an ipad mini. It has an open app market place, so it’s easy for developers to go in and build the apps. It’s built […]
I am excited about the Poynt terminal! I strongly believe this terminal is going to dramatically change the industry in a big way.
- It’s really small, about the size of an ipad mini.
- It has an open app market place, so it’s easy for developers to go in and build the apps.
- It’s built on an android platform. There are many android developers already who can build stuff for this.
- Since it’s a good networking opportunity for developers, they will make some cool technology.
- It already has core essentials such as inventory management, products and services you can manage, and ability to track things.
- It integrates with cash drawers, kitchen printers, kitchen screens, and Quick Books online integration.
This terminal has all the core items which I’ve said in the past are needed to take over the small business market, the physical location. I have a demo model which you can see on my video. There is a front screen for the customer to see. On the back is a screen to click on such things as the register. It pops up much like a phone screen.
I already discussed the opening pitch using Poynt terminals in a previous article and video. When introducing to merchants, show them a demo model or our presentation booklet and ask, “Have you seen a terminal like this?” Then launch right into your opening pitch as I suggested in that previous article.
Now let’s discuss closing deals with Poynt terminals. I would advise using three-option selling, which I also discussed recently in another article. The Poynt terminal is the “middle option.” After explaining the benefits of the Poynt terminal, say to the merchant, ““Look, the great news is we don’t even charge you more than you are paying now. Instead, usually you have a cost savings. There are actually several fees such as monthly fees, paper, etc. associated with the free terminals. The cost of owning or leasing your own Poynt terminal is minimal and will probably save you money on a monthly basis. Let’s look at your current statement, then we can see what the savings would be.”
Using instantquotetool.com at this point in the sales process will give you a quote for the merchant right away. You can create a custom program in instantquotetool with a lease for Poynt terminal included. I would advise a lease for this terminal. The lease is a very legitimate technology. You can say to merchants, “We are going to save you $30 per month on your processing, and to lease the Poynt terminal will only cost that amount.” (Or you can substitute other amounts.)
As you go through the sales process, learn to “read” the prospect. Decide whether the merchant is likely to say “yes” right now or is teetering so that you are about to lose the sale.
- For prospects about to refuse, you proceed with this close, “Here is a question I have for you, Susan. Do you think you are ready to move forward and have a smart terminal with all the extra features and benefits it has or would you be more comfortable going with something like the free terminal placement that we offer with the VX-520? The VX-520 is similar to what you have now but just a newer updated terminal. We can always upgrade in the future.” Rather than saying “no,” the prospect will probably choose one of these options. Thus, the Poynt terminal is the middle option, and this free terminal is the lower or third option. The prospects who choose the free terminal are often simply lacking trust in you. After establishing a relationship for two or three months, come back to them with a Poynt terminal and say, “I know you weren’t in a position to upgrade a few months ago. What are your thoughts now? I’ve saved you $45 a month on average the last three months; why not reinvest those savings in a Poynt terminal which will be so much better for you?”
- For prospects leaning toward “yes,” you proceed with this close, “Do you think the Poynt terminal is going to have enough functionality for what you need with the Quick Books online integration and other things it offers? Or are you looking for something a little bit more robust like the Clover terminal? [explain Clover] Although the cost is a bit higher, it is going to have more functionality.” In this case, the prospects will usually choose Poynt since it has almost the same functionality as Clover. Personally, I think Poynt is better on some things such as multi-location and is cheaper. So, the Poynt terminal is the middle option, and the Clover is the higher or first option.
As I’ve explained in my previous article and video, three-option selling offers your prospects several options all of which encourage a positive response. This approach also allows the prospects to keep a feeling of being in control, and thus, they are more likely to have a positive response. You can use that three-option selling to close deals with the Poynt terminal.
I’m going to publish one more article on Monday, October 9th, before our live event. I may even publish over the weekend. I’m going to explain some of the features and selling points of the Poynt terminal. You’ll want to read and/or listen!
Please make sure if you haven’t done so already, go to ccsalespro.com/poynt to register for our live event. This event will be Monday night, October 9th, at 6:00 p.m. EST. I will interview the founder of the company who created the Poynt terminal. We can all learn a lot more about the Poynt terminal and what’s coming out next. I think you are really going to like that!
My name is James Shepherd. Thanks for reading this article.
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