Just as ISOs face an unrelenting need to find new merchants, merchant-service companies also continuously look for talented salespeople who can sell payment services to merchants.
This issue of ISO&Agent examines some of the latest thinking about where to find the best talent and how to make training techniques effective. It also explores ways economic and other factors are changing merchant decision-making processes, and how to make the best use of the telephone as a sales tool.
This issue's cover story examines effective phone-sales methods. The days of reading directly off a script are gone, replaced by a consultative approach that attempts to foster a relationship with the merchant.
"Now you have to be more inquisitive with the prospect, asking questions before pitching the product," Emily Karawadra, executive vice president at Impact PaySystems, tells ISO&Agent.
Finding salespeople who are adept at direct and telesales is essential. Many ISOs turn to candidates with little to no payments experience to boost their efforts.
Some ISOs, as ISO&Agent reports, have developed guidelines to help find the right salesperson. Many companies have success finding candidates via networking and employee referrals.
What do you do with new hires once they sign? The industry generally has had to balance training with getting the new hire in front of merchants and producing sales. As Associate Editor Meghan Boyer learned, the right balance can be difficult to achieve, but some ISOs say online training is a good solution.
Merchants themselves have altered the sales process, requiring a shift in sales tactics among ISOs.
Effective sales no longer rely on persuading a merchant to share a processing statement and then matching or beating the existing merchant-services company on price. Instead, merchants are looking for ways to improve cash flow and create additional revenue.
"Value-added products are where our industry is going," Chandra Spary, president of Card Systems Inc., tells ISO&Agent.
Rounding out this edition of ISO&Agent, guest columnist Matt Clyne provides some advice on how best to instruct trainers. "The best tool a manager has while developing training is to listen to top performers," Clyne says.
Listening is just what we want to do. As we look to the November/December issue of ISO&Agent, please feel free to suggest ideas on products and services that have helped boost revenues and ones that you are planning to sell. We always welcome ideas for articles in ISO&Agent Weekly, too.
