Last week I started a mini-series on advanced sales techniques. If you missed the first one about buffer statements, make sure you read that....
How to Sell Merchant Services in New York and Other Big Cities
One thing that sets CCSalesPro.com apart from other online payments industry resources is our focus on the independent sales professional. We know what you experience in the field on a daily basis because we are there with you! I had a conversation with a sales partner today. We talked about this issue of selling merchant […]
One thing that sets CCSalesPro.com apart from other online payments industry resources is our focus on the independent sales professional. We know what you experience in the field on a daily basis because we are there with you! I had a conversation with a sales partner today. We talked about this issue of selling merchant services in a city like New York, LA, Dallas, or Chicago where the competition is fierce and business owners are getting bombarded with sales reps over the phone and in person. Today I want to share my best advice on how to overcome the unique sales obstacles you face in the field every day. If you join our team, the odds are I will show you how to use these tactics in the field very soon! (I am hitting the road in 2016, coming to every major city in the U.S. to go out in the field with sales reps just like you!)
#1 – How to win the expectations game. Before you step foot outside your house to go sell in New York City or LA, you need to understand some realistic expectations for your market. Your expectation should be to walk into twenty businesses per day – that’s it!!!! Anything more and you are going to struggle. If your goal is to make one sale per day, one of two things will happen. Either you will make a sale at 11 a.m. and quit for the rest of the day since you achieved your goal, or you will not make a sale all day and feel like a failure. Neither of these outcomes makes any sense, especially in a competitive market. Just walk into twenty businesses per day; follow the advice below; and the sales numbers will take care of themselves.
#2 – Understand what a day in the field looks and feels like. Before you get out in the field in Brooklyn or Downtown Dallas, you need to understand what it feels like and how crazy it really is. Most of the stores you walk into will have customers waiting in line. When you do get a chance to speak with a business owner, he or she will be busy with other things and very good at “getting rid” of sales people. If you are not prepared with the right pitch and mind set, you can feel like just a pest and annoyance to everyone you meet. You don’t have to feel that way. If you follow the next few steps, you will get much better at fitting into this craziness. However, you will probably seem very much out of place and constantly in the way the first few days. If you have high self-esteem and confidence, your first day in the field can shake you in ways you never experienced before. So get ready for that and understand it is just the norm when you get started in a market like this. Every sales professional feels this way on the first day and, even to some extent, the first month in the field.
#3 – Start by being a curious customer. If you walk in like “super salesperson,” you will get turned away. After a lot of experience and a complete disregard for rejection, I have found ways to come into a business in these markets with an over-the-top confidence which throws owners off enough to start a conversation. But small talk is a much safer bet, especially for a new rep. Here is what this sounds like:
- When you walk in and see other people in line, look around for a minute or two just like any other customer. Then get in line. When you get to the cash register (or in a restaurant just walk up to someone), give them a big smile. Then say, “Hey, how are you doing today?” as relaxed as possible. Practice this one line in front of a mirror to get it right. If you are relaxed and confident, this line will help you connect.
- Now say something like this, “I have driven by your business a hundred times and have always been curious about it. How long have you been at this location?” If you don’t clearly know exactly what they do or how they do it, ask, “What exactly do you do here?” Now listen intently to their answer and nod your head to show you are listening. If a natural conversation happens, roll with it and keep up the small talk for a minute or two. Most likely this one question will be all the small talk you are able to get in, especially if they are busy.
#4 – Explain why you are there. “Hey, real quick before I head out for my next meeting, I just have one question. I set up the new apple pay and EMV ready credit card terminals for local business owners out of my office in (City Name). Do you mind if I ask who you are using right now for credit card processing?”
At this point one of two things will happen. 80% of the time, they will shut you down right there. “I am not interested;” “I am busy today;” “I am happy with who I have. Thanks for stopping by.” The way you respond is just as important as the words you say. Get a serious look on your face; take a step towards the person; square your shoulders to avoid any appearance of “slinking” away; and say, “Bob, I am sure you get dozens of sales reps in here every week from these big national companies. They probably hound you over the phone as well, but that’s not me. I am a local business owner just like you, and I sincerely wanted to stop by to learn about your business and introduce myself. I am committed to our local community as I know you are. How about I send you an email introduction so you can learn a little more about my business?” Usually the owner will say yes to this. Get the email address; put the owner into one of our Marketing Platform Drip Campaigns; and come back after the owner gets an email or two from the system. Use the emails as your reason for following up.
About 20% of the time (once you get pretty good at your pitch) they will simply answer the question about which processor they use. You can move forward with a conversation to collect the processing statement. For instance, “Okay. Yes, I have heard of them. Let me ask you two questions. First of all, are you confident you have the lowest rate with them? Secondly, have they upgraded your terminal yet to accept apply pay, google wallet, and EMV smart cards?” From there, they should give you something with which you can move forward.
#5 – Last, but possibly most important, make sure you update your CRM after every stop. Enter the email address; add the business owner to a drip marketing campaign; add a note about your conversation with him or her; and establish your next action step.
Do you sell in a big city? What tips and tricks can you share? I know our readers would love to hear your ideas, so put them in the comments section below.
Read previous post: Merchant Services Leads are Overrated
Read next post: 3 Tips for Getting the Paperwork (Merchant Agreement) Completed