I hope you’re enjoying this mini-series. I am guiding you back to the basics of selling payment processing. I’ve discussed some history and...
Three Types of Prospecting – Selling Payment Processing
Perhaps after watching or reading my previous episodes, you’ve decided to sell credit card processing. The next question for you, then, is, “How are you going to sell it?” Good prospecting equals more sales. I’ve found three models of prospecting which work. In this episode I’ll explain each one, so you can choose the […]
Perhaps after watching or reading my previous episodes, you’ve decided to sell credit card processing. The next question for you, then, is, “How are you going to sell it?” Good prospecting equals more sales. I’ve found three models of prospecting which work. In this episode I’ll explain each one, so you can choose the best one for you.
#1. Walking into businesses cold turkey. Prospecting face-to-face. One big advantage of this method is that not many people do it. I would think everybody would do it since it’s the method which works best. However, many are afraid of this. Although this is my preferred model, I do understand the fear. Even after walking into thousands of businesses, I still get that “sinking” feeling sometimes. These thoughts may suddenly come to mind before walking into a business, “Is there anything else I need to do right now? Is my dog okay; maybe I need to check on my dog. Oh wait! I have Netflix on my phone. I missed that series the other day.” But you need to get into a good habit of just walking into businesses.
This method does work though. If you are in the field prospecting for five or six hours a day, you are definitely going to make money. The question is whether you’re willing to do it, not whether it’s going to work. Get into the field six hours a day for a week and walk into 50 businesses a day. If you don’t get several people who are very interested after walking into 300 business, that is a good barometer indicating you should probably find a different occupation. You aren’t a bad person; you just can’t sell.
Most likely those of you watching or reading this do know how to sell. The reason this model didn’t work for you is that you walked into seven businesses rather than three hundred in a week. That isn’t successful. The numbers don’t play out! I have tons of episodes about your pitch; it’s very simple. Spend a little time on small talk to build a bit of rapport. Then pull out instantquotetool.com. [Make sure you start your free trial of this great tool if you haven’t yet. The tool will be a big help in the field. You can email the merchant a PDF proposal right on the spot.] Then close the deal or come back the next day to close the deal.
#2. Make phone calls to generate appointments for yourself. Many sales people are more comfortable to call the business first and schedule an appointment. Spend two or three hours a day on the phone. By spending that much time on the phone, you should be able to schedule several appointments for yourself. Keep in mind you’re looking more for quantity than quality on these calls. Set several appointments for the coming days. You might feel more confident to be able to say, “Hi. I’m James Shepherd. I called yesterday and talked to Susan.” Having a contact is a nice ice breaker. This prospecting model is probably the most popular in our industry.
#3. Lead generation. Get leads from somewhere else and follow-up on them. If you have money to invest, you can hire a telemarketer to generate leads and set appointments. I have connections and would be glad to assist you. Go to ccsalespro.com and click on “partner with James.” I recently referred someone to a call center in Ohio. He has invested about $5,000 and is doing great. Converting that money into leads is easy.
There are also some processors who provide leads. Just be aware that you will pay for those leads out of your residuals or your commission.
Good prospecting equals more sales. Decide which of these models makes the most sense for you right now. Make your choice then stick with it for thirty days before making any adjustments. Practicing these models will allow you to open the door of opportunity in selling payment processing.
Read the previous post here: Up-Front Buyout vs. Up-Front Bonus – Selling Payment Processing http://www.ccsalespro.com/front-buyout-vs-front-bonus-selling-payment-processing/
Read the next post here: Cash Discounting and Surcharging http://www.ccsalespro.com/cash-discounting-surcharging/