Whether you’re a new or experienced merchant reseller, you undoubtedly want to make a good living selling merchant accounts. One way to do this is to maximize the potential of your verticals. Here are four strategies.
1. Understand your merchants’ pain points. Once you determine which verticals to focus on, you can study your merchants’ industries and their unique pain points. When you discuss your products or services, frame the pitch around the ability to minimize or eliminate these unique pain points. For example, if your merchant wants to save time, talk about how a POS terminal can not only save time during the transaction, but also after by simplifying the accounting process.
2. Offer a wide range of products. If you want to take full advantage of a vertical, you need to offer a wide variety of products to fit the diverse needs of your merchants. Since it’s a lot more expensive to acquire a new merchant than to retain one, it’s smart to recognize merchant needs and make product suggestions when appropriate. For instance, let’s say you already supplied a tablet based point-of-sale solution to an ice cream parlor. After speaking with the owner on several occasions, you learn that the parlor wants to grow their business this summer. In an effort to increase repeat business, you recommend adding loyalty cards.
3. Leverage an infrastructure of support. As a merchant services reseller, the company you choose to partner with is an important business decision. After all, if you want to maximize your verticals, you need a solid infrastructure of support. At Electronic Merchant Systems (EMS), we support our agents and we also provide 24/7/365 merchant support. Since the merchant support team is an extension of the services you provide, it is an important consideration. You don’t want your hard work negated by an unreliable company with poor customer service.
4. Find an innovative Agent Program. When you’re searching for an ideal agent program, you want to partner with an organization that lets you focus on building merchant relationships and maximizing verticals, while also encouraging your professional development. As an EMS Agent, you have that ability. With thirty years’ success, EMS offers great growth opportunities:
- Unlimited support for your future expansion plans
- Assistance with hard-to-place merchant accounts
- Card-not-present (CNP) expertise
- Comprehensive portfolio management solutions
By specializing in a vertical, you can focus on a specific industry. As you become an expert in that vertical, you will better understand the pain points of your target merchant. In turn, you can not only meet their needs, but maximize the potential of your vertical and bump up your bottom line.
Electronic Merchant Systems is a leading provider of payment processing & merchant services. For more information please visit our website.