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APR. 2018

10 Quick Tips about Merchant Services

Top Agent of March 2018 COVER STORY Tina Chen

It's Not Customer Service VS Sales, It Should Be Customer Service AND Sales


Top Agent


Tina Chen Q A

How many applications have you submitted for Mar. 2018?

Q

How do you expect to close sales? How do you know when a buyer is ready to buy? What closing principles do you follow? What closing techniques work best for you?

A At Argus, our partners’ success equals our success and we want to recognize our partners and partners’ sales reps for the contributions they make to our success and yours. Argus Winner’s Circle is another way we are recognizing the top 1 percent of our Partner Sales reps nationwide. Winner’s Circle is our way of saying “Thanks for the hard work and dedication”.

---- Argus Merchant Services LLC

Q A

14.

I will show them my previous clients’ agreement and checks they gave to me. I will ask the owner if they have the void check and show them what it looks like. Then I will put out the agreement. Do most of your applications come from b2b (door to door) or does someone provides appointments to you? Most of them came from appointments and more importantly, came from existing client’s referrals. I think it’s really important to keep good relationships with your existed clients since they have good networks and could be very helpful if they refer you to other merchants.


Q A

What dos and don’ts you would suggest to all new reps that are just starting up? (Please provide at least 3 do’s and 3 don’ts) Dos: • Do call them as soon as possible. when they first receive the machine. • Do answer their phones and try to provide advices. • Do follow up with all merchants you met.

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Don’ts: • • •

Q A

Do Not overpromise too much. Do Not wait too long to follow up. Do Not be too confidence with the price and service we provide.

A

How do you overcome buyer objections? How do you handle price objections? I will point out how do we save money and where the saved money came from.

Q A

How many rejections you get from the same business owner before you decide to move on? It really depends on their willingness. If the owner shows they have the willingness to change the processing company or they are unsatisfied with current companies, I will try around 4-5 times. If they are very happy with current companies, I will try around 3 times. Do you have a particular target group or area that you prefer? Most of my clients are Chinese restaurants.


Q A

Q

Q A

A What was your most significant professional accomplishment? Tell me about it in detail. I think going to two weeks business trips was the hardest thing for me and I feel a sense of accomplishment after overcame all the problems. There was one time that my rental car had flat tires and I had to adjust my schedules. I was worried but my team encouraged me and gave me a lot of useful tips. I think all the accomplishment came from teamwork.

Q A

What sets you apart from all other sales reps? I do not take out the application too early during the conversation. Some merchants will be scared if they see any paper works and think you are trying to push them too hard.

Can you recall your first account and what kind of difficulty you faced? How do you overcome it? For new sales rep, do you have any suggestions? My first account was closed over the phone. I went to the appointment but the person who made the appointment with me was not a decision maker. I still left a good first impression to him and he gave me the decision maker’s number. I think the person who made appointment with me had critical impact on this deal and I suggest new sales rep to be nice to everyone they meet. Do you get referrals from your customers? If so how do you ask them for it? Yes. I will list all clients that the service fee met their expectations. Then contact them to show my care and ask for referrals.


10 Quick Tips about Merchant Services

-Chris Del Grande

Selling merchant services can sometimes be a tricky

business, but that’s okay. When you arm yourself with the knowledge necessary to succeed, you have a better chance at making more sales and converting more businesses to your services. Next time you go out in the field or pick up the phone, keep these tips in mind.


You aren’t selling a service; you’re selling yourself We live in a day and age where everyone needs merchant services if they’re running a business. Consider something as simple as water – everyone needs it, but what makes someone buy Voss over Arrowhead or Fiji? When you pitch your merchant services to a company, you aren’t necessarily trying to make them aware that credit card processing is something they definitely need. Instead, focus on why they need you instead of the other guys.

Don’t only offer lower rates A common theme throughout the industry that you’ll be advised on when it comes to selling merchant services is to “offer lower rates to get a client on the line.” This is something that sounds appealing when it comes to generating more leads, but it’s not attractive when you consider the profits you’ll be losing by doing so. You have to sell your services in other ways too. Work angles like benefits and brand credibility, not just your special discounts.

Never forget to follow up As it goes with any sales funnel, it’s always important to follow up with potential customers. Once you’ve given them the initial pitch, email them multiple times within a month or two, asking where there head is at and how they feel about your initial sales pitch.

Keep your pipeline flowing Being in merchant services means never saying no to the new possibilities that you’re presented with. This means always looking for new clients to put into your sales funnel at all times. New small businesses pop up all the time, and they often need help with their merchant services options. Educate businesses on what you can do for them, including telling them about EMV laws and how you can help them reach PCI compliance. This is a good way to open a conversation about merchant services.

Play up tech support Credit card processing systems go down – it happens. What should happen next is a merchant services company offers a business tech support complimentary with their services. Since we offer local, personal support, make sure you inform potential customers of this so they know you’re willing to come to their rescue.


Waive fees, not rates We already mentioned not lowering merchant fees, but you do have discount options you can offer others without breaking your bank. If you’re looking to potentially convert a business to your processing services, ask questions: do you have an annual fee currently? What is your contract length? Do you have any termination fees? Offer to have these fees waived if they convert to your services. This gives them an incentive and relieves you of a one-time cash charge instead of a steady loss stream from one client.

Improve your reputation when possible Many don’t have a good opinion about merchant service reps – for instance, Entrepreneur.com refers to the profession as “used car salesman of financial services.” Be confident in yourself, your company and your own sales morals, but know that others may assume the worst. Every sales call, make sure you put your best foot forward. Try to make sure that every call ends with someone walking away thinking positively about you.

Ease a customer’s mind when it comes to contracts You never want to leave a customer in the dark when it comes to contracts. Merchant services contracts are usually pretty strenuous, and it’s important to talk about them with transparency somewhere down the sales funnel. Customers don’t like to feel like they’re signed into something they can’t break away from, so it’s essentially that you assure them they aren’t signing a deal with the devil when they hire you for your processing services.

Stay educated No matter what stage you are at in your merchant services career, you have to know a lot about ecommerce, processing and finance if you want to keep your head above water. You want to stay informed about financial news, the laws related to your craft, as well as about the ever expanding world of ecommerce, mobile payments, EMV and NFC and much more. When you stay informed, your credibility improves. When you stay informed, you impress more clients. When you stay informed, you improve yourself – so start reading up and stay on top of your craft.


It's Not Customer Service VS Sales, It Should Be Customer Service AND Sales

-Alleli Aspili


It has been customary for businesses to keep sales and customer service in different departments. Each has a different manager, team members, and even different goals all driving towards to making profits for the company. It was traditional thinking that the sales team brings customers in while the customer service team retains them. While the different departments work toward one goal - making money for the company - they ultimately have different methods, often contrasting each other. For the longest time, this concept has been accepted and many believed it worked. Experts are now saying this shouldn't be the case. Brad Cleveland, president and CEO of Incoming Call Management Institute, a worldwide organization dedicated to advancing the call center profession, emphasizes the importance of sales and customer service integration. If a company has separate groups for sales and services that report to different teams and have different goals or objectives, Cleveland recommends dismantling those divisions and integrate service and sales capabilities.


Customer Service + Sales = Positive Customer Experience When a customer buys a product or service from your company, he also purchases the experience that goes with buying it. An experience is a whole process of deriving a benefit from the product. And no two separate departments can accomplish that experience alone. Sales cannot provide this experience - it can start the experience, yes. Customer service cannot provide this experience if it cannot offer products that solve problems and cultivate better experiences. An example of this explanation is how Verizon trains its customer service associates. Verizon trains its customer service agents how to solve problems but also acquaints them on how to provide the ultimate experience a customer can benefit from their services by offering valueadded solutions. If a customer calls in complaining about charges on their bill, a customer service agent doesn't immediately process a refund or simply give the customer a breakdown of their charges, he would analyze the customer's plan and usage and recommend a better alternative to keep costs down for the customer. If the customer would benefit from a higher plan with broader coverage, this doesn't only keep the customer satisfied, it will also factor in the sales department. The key here is being able to solve customer problems about your service or product and being able to offer value-added solutions that are both win-win for your company and customer.


Fill a Need + Provide a Benefit = Profit No matter how much we drive for the integration of sales and service in a company, it wouldn't even have much importance if the goal of the company is misplaced in the first place. If the goal of a company is to make money FIRST, customers will always feel this. It will always break down to making profits without making quality products or providing efficient services. Customers will know they are not a priority. Or even providing products or services isn't the priority. When a company's goal or objective is to fill a need for consumers or provide a benefit by using their service or product, the money will eventually come. When you have this goal to fulfill an underlying need for a better experience, this will trickle down to your company's organization. Your passion will be imbibed within your organization. In fact, hiring the right people, the same ones that are willing to subscribe to your company's purpose will make it easier for departments to run. They just need to share the same values you set for your organization.


Customer Service AND Sales ALWAYS: Not a Competition but an Integration With the same values being the driving force between service and sales, the overall result would always be a POSITIVE CUSTOMER EXPERIENCE. Your goal is the same. Your message is the same. The outcome will be the same. When you not only work together but also share the values and goals of the company, it will provide the best outcome - quality products and service, customer loyalty and ultimately, the goal companies aim for in reality: profit.

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