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Understanding How the Merchant Landscape is Evolving

The merchant solutions process has undergone significant transformations in recent years, influenced by increased competition and changes in the industry. Today, sales professionals find themselves contending with a different array of competitors, including Square, ISVs (software vendors), and point-of-sale providers. These shifts in the competitive landscape demand a strategic and adaptive approach to merchant solutions.

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One of the primary challenges faced by salespeople is the reluctance of merchants to readily share their statements. This necessitates a thoughtful and considerate methodology in guiding merchants through the sales journey. The emphasis lies on creating a step-by-step sales process that encourages merchants to contemplate their credit card processing needs.

Initiating the process involves interrupting the merchant’s routine through various channels like in-person visits, phone calls, or advertising campaigns. The goal is to prompt the merchant to think about their existing payment methods. The subsequent steps focus on obtaining the minimum necessary information to provide initial insights, avoiding intrusive requests for statements. Tools such as instant quote solutions can facilitate a back-and-forth exchange, gradually eliciting more details.

As the process advances, effective itemization of fees and presenting a side-by-side comparison become pivotal. This step-by-step approach ensures that by the time a salesperson requests a statement, merchants are more willing to share detailed information. In navigating the evolving dynamics of the merchant sales process, a considerate and reciprocal approach is key to successful transactions.


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