10 tips to generate merchant services leads.
As an Agent selling payment technology, the quality of your merchant services leads can make or break your portfolio. The more effectively you (or your sales team) are able to identify your ideal customer among all the potential prospects out there, the more successful you will be.
To help you do that, we’ve put together a list of tips for generating the right merchant processing leads so you can turn them into a steady stream of bonuses and residuals.
What is an ideal merchant services lead?
There are several characteristics ideal merchant processing leads have in common. These include the merchant having a type of business with typically high transaction volume, like a restaurant, retail store, or ecommerce website.
Ideal customers would also typically be unhappy with their current payment company and poised to expand their businesses in the future. Finally, an ideal lead is one that doesn’t take you months to track down, nurture, and close.
1. Lean on your network.
One of the first places you should look for new merchant processing leads is your current network of contacts. Think of any business owners or operators you know from your past. These are potential customers for you to sell merchant services to today.
Taking the time to reconnect with those already in your network is a great initial strategy to generate high-value leads.
2. Leverage the power of social media.
Another highly effective way to generate credit card processing leads is to spend a little time on social media. Sites like LinkedIn and Facebook are great places to position yourself as providing the total package in the payment industry expert, interact directly with potential clients in real time, and more.
Don’t forget to join groups related to payments and business management to cast an even wider net.
3. RSVP for industry events.
From national trade shows to local Chamber of Commerce meetings, there are plenty of events you can attend to drum up more (and higher quality) sales leads. Identify promising merchant leads while meeting with prospects in person at these conferences and before you know it you’ll have compiled an impressive list of potential customers.
As an added bonus, you’ll also have the opportunity to network with key players in the industry and stay in the loop on the latest payment trends.
4. Tailor solutions to individual merchants.
Another powerful strategy to attract a steady stream of leads is to eschew offering cookie-cutter payment processing packages in favor of delivering solutions that have been customized for each individual merchant.
Partner with a payment technology leader like North and start offering customized and qualified merchant services to businesses of all types. Once you do, you’re likely to find yourself closing more deals than ever before.
5. Position yourself as a payments expert.
You’re not some new kid on the block with only months of merchant services experience. You’re a payment technology expert with the tools and solutions to help your merchants grow their businesses in real time.
Let potential customers see you as a trusted source for payment technology content by becoming a creator of informative blog posts and whitepapers related to trends in the industry. By showcasing your payments expertise, your potential prospects will become customers in no time.
6. Add some warmth to your cold calling.
When it comes to turning cold calls into closed deals, make sure you (and/or your sales staff) always avoid the generic. Merchants want to be treated like people, not just another sale.
The more you can do to show that you are personally invested in a merchant’s success while providing solutions customized to your potential clients’ specific businesses, the better. Tailoring your pitch based on the information at hand to relieve the pain points of each of your potential customers will position you as a knowledgeable expert who also happens to care.
7. Take advantage of referrals.
Going to your current satisfied clients for referrals is another great and cost-effective way to generate new credit card processing leads that are more likely to convert. The fact is, merchants like word-of-mouth referrals from other merchants because it tells them they can trust the companies being recommended to them.
You can even incentivize your current contacts to become salespeople on your behalf by offering them rewards, discounts, and so forth.
8. Target businesses using Google Ads.
Another effective way to generate credit card processing leads that ultimately become sales is through paid advertising on Google. Create Google Ad campaigns using popular merchant services-related keywords and you should attract a steady stream of merchants interested in what you and your sales staff have to offer.
That’s a level of prospect targeting you’ll just never achieve through cold-calling efforts.
9. Leverage the power of technology.
Investing in lead generation tools and customer relationship management (CRM) software is a smart move for any Agent these days. Powerful tools like HubSpot and Salesforce can help you organize and track your prospects, follow up on leads, and optimize your sales strategies.
That way you’ll be able to move every lead through your sales pipeline more confidently and efficiently.
10. Get optimized for local search.
Our final tip for generating high-value credit card processing leads is making sure you (and/or your sales team) are findable by any businessperson searching for merchant services in the nearby area. To that end, make sure you get listed in local directories like Yelp and Google My Business.
To open the floodgates even further on your stream of leads, you can even utilize search engine optimization to target keywords like “merchant services in [insert city]” or “affordable payment technology in my area.” That way it will be easier than ever for interested business owners to find you and your services.
By utilizing the tips outlined above, you can save yourself days, weeks, or even months of legwork. That way you and your salespeople can spend less time tracking down quality merchant leads and more time closing high-value deals.
One final tip: It pays to become a North Sales Partner.
Finding the right credit card processing leads takes a little work but finding the right payment technology company to partner with is easy. Just go with North. We’re more than just a qualified merchant services provider.
We’re committed to being the easiest payments company to do business with. We’ll help your salespeople use the tips above to identify your ideal customers more easily.
Then, we’ll reward you with some of the best bonus and residual programs in the business. Contact us today to find out more.