Welcome to Day 6 of the Jump Start Program! Today we are going to discuss the six step sales process and how to decrease the time it takes to get a merchant through the process. Thus, you can increase the number of sales you make each week.
Goals for Today:
1. Understand the six step sales process.
2. Learn to track your results according to the six step sales process.
3. Gain a basic knowledge of closing deals and doing paperwork.
We have already covered most of the steps in the sales process, so today’s training isn’t really going to focus on the details of how to do each one. Rather, today I just want to get you thinking in terms of a six step sales process so you can begin to track your results based on these steps. Tom Hopkins said that your only measure of success on a sales call is whether or not you move to the next step. So in order to evaluate your success on a sales visit, you must understand what the steps are. Then you can evaluate whether you did, indeed, move to the next step or not. As I talk through each step of the sales process, realize that you have not succeeded on a sales visit unless you move to the next step. If the merchant seems to really like you when you follow up but doesn’t give you a statement, you did not succeed. On the other hand, a merchant may seem hesitant on the first follow-up visit so that you can’t tell if you have gained his trust, but he does provide you with a statement. You have succeeded! Success isn’t determined by whether or not the merchant seems to like you but by whether or not you moved to the next step in the sales process.
Step 1 – Meeting the Business Owner. When you first walk into a business, your goal is to meet face to face with the business owner. Examine all of your actions and make sure that you are achieving this goal. For instance, since I am not trying to get the owner to call me, I do not try to get a phone number or leave my card if the owner isn’t there. I am trying to meet face to face with the business owner. If the owner isn’t there, get the first name of the owner and the best time to stop back. That is all the information you need in order to accomplish your goal of meeting face to face with the business owner.
Step 2 – Get the Statement. After you meet with the owner, your next goal is to look at a processing statement. Try to accomplish this on the first visit. If you are not sure how to do this or are having trouble getting the statement, go back to Day 1 and 2 of this program and review the resources on how to get a statement. When you are managing your prospect list, move merchants to a new list or highlight them once you actually meet with the owner. Then you want to visit the merchant every day until you get a statement. If you are not getting statements, you cannot succeed with this business model. So keep going back until the owner gives you a statement or until you feel like the he or she will not give you one.
Step 3 – Present a Cost Analysis. I have included a link to two articles below that talk about doing a simple on-site analysis for the merchant. In Day 2 we discussed sending a statement in to the statement analysis department. At this point you are probably ready to do a general analysis on the spot, especially for smaller merchants.
Closing on the First Visit
What is Your Rate?
Step 4 – Closing the Sale. This topic is covered in detail on day 16 of the 20 day jump start program; I will just provide a brief summary here. The most important thing to remember about closing the deal is that it doesn’t need to be a big turning point in the sale. It should be a natural progression of the rest of the sales process. Once you have completed the presentation of the analysis, simply say, “Ok, let me show you a couple things on the paperwork…” Pull out the page of the agreement that lists the pricing. Next, show the pricing and how it matches up with the analysis. Once you have done this, ask if there are any other questions for you on the pricing. If not, start asking for the information you need to complete the application. Lastly, move through the signature page, having the owner sign in both the company section and personal guarantee section. If you follow this closing path, the customer will stop you if there are questions or if he or she is not ready to make the commitment today. Otherwise, just keep taking the next step through the paperwork until you have completed it with the customer.
Step 5 – Paperwork. The application portion of the paperwork stage is covered in step 4. However, I have listed this as a separate phase because many times you will close a deal and get the contract signed without being able to get all the paperwork at that time. Obviously, you will want to follow up to get all the paperwork you need. Here is the basic paperwork that you need to get a sale approved:
-Signed Merchant Application
-Signed Free Merchant Placement Document (If they are getting a free Terminal)
-Voided Check with the business name and address printed on the check (This is only so we can deposit their funds, much like when you had to produce one to join the team)
– Recent Processing Statement, Bank Statement, Utility Bill, Building Lease Agreement or Business License from the State with the Address Printed on it
Good luck in the field today!
Shawn Espenlaub email@example.com
“Committed sales partners are who we need, enabling them to succeed.” – Marvin Shirey