ISO Sales Tips to Help Grow Your Merchant Services Business

IRIS CRM Blog, Sales Efficiency
Merchant Services Business

Ecommerce is rapidly becoming the go-to shopping method for an entirely new generation of consumers. In 2018, almost 40% of holiday sales were made on the web, and brick and mortar stores all over the world are feeling the pressure of online competitors ranging from giants like Amazon to the smallest mom-and-pop web stores. As a result, the opportunity for independent sales organizations to sell merchant services to the exploding number of retailers and businesses requiring electronic payments has never been bigger. But with that opportunity comes competition, making it important for successful ISOs to stand out. The sales process is one key area in which being better than the competition is crucial, and the following four tips represent simple, but highly effective ways to do exactly that.

 

Invest in Training

The fundamentals of sales haven’t changed much in decades (if ever), but there have been major shifts, both in how customers expect the sales process to go and in how current sales tools impact delivery of proposals and service. That makes it incredibly important to ensure that your employees have up to date training on how best to build and nurture relationships with your prospects and clients, and how to most efficiently move them from lead to paying customer while laying the foundation for maximum lifetime customer value. 

 

Prioritize Strong Lead Management

Hot leads are one of the primary factors in sales success, and most sales professionals will tell you that there are few things as important as keeping a steady stream of qualified prospects coming in the top of the funnel. As such, prioritizing strong, effective lead management should be a goal for every independent sales organization. Ensuring that your sales team can keep constant track of the merchants that make up your lead pool means that no prospects will ever slip through the cracks, and the people behind those leads will receive the personalized sales process and individual attention that they deserve – a key factor in getting to yes. 

 

Never Delay Closing a Deal

Once a lead’s objections have all been met, and a close is imminent, it’s every salesperson’s duty to make sure that it happens both as conveniently for the lead as possible, and as quickly as possible. Anything else not only opens up the possibility of second thoughts, but it also represents a poor representation of your ISO’s professionalism. Inking a deal quickly is easy when the close is made in person. But what if it happens over the phone or via email? In those cases, it’s imperative that your team gets the necessary paperwork out to the prospect and back as soon as possible. Delays in paperwork are simply unacceptable. 

 

Embrace Technology

New sales tools have emerged to make it easier than ever to move prospects through the sales process, and if you’re not utilizing them, you’re leaving money on the table. One of the most powerful tools available is customer resource management software. CRM platforms are designed to streamline and augment all aspects of the sales process, all customer-facing tasks, and a wide variety of administrative tasks as well. Putting one to work not only makes your salespeople’s jobs easier, but it also makes it easier for you to handle the short and long-term strategic decisions that you face every day as a manager. 

IRIS CRM is the payment industry’s leading customer resource management platform. It offers ISOs a full suite of tools to revolutionize all aspects of sales and operations. From advanced lead management, to secure document handling and storage, to eSignature capabilities enabling the sending and receiving of legally signed electronic paperwork, to tools streamlining communications, analytics, billing, and more, IRIS CRM truly does it all. 

For more information on how the sales team at your ISO can put IRIS CRM to work to close more deals and work more efficiently, sign up for a free guided demonstration.