GROWTH IN TODAY'S CHALLENGING COMPETITIVE ENVIRONMENT: THREE STRATEGIES TO STIMULATE GROWTH AND MAKE COMPETITORS IRRELEVANT
In order to achieve substantial market share gains and dominate competition in merchant acquiring, ISOs and acquirers need to stop competing on brand preference (being one alternative picked from a short list) to brand relevance competition (being the only choice that comes to mind of the prospect).
To reach that goal, ISOs and acquirers have to (1) learn about the three-step decision-making process that merchants go through to select a provider, (2) understand the role of the types of innovation in competition and finally (3) learn about and implement one the three proven strategies laid out in the report.
Shifting the competition from brand preference to brand relevance has a considerable effect on how the company is viewed by the public at large.
Report Content
This 27-page long report is split in 2 parts:
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Part 1: Understanding Brand Competition
Learn about the provider selection process that merchants go through; the types of innovation and their impact on brand preference and brand relevance; disadvantages of incremental differentiation; ways to win the brand preference battle.
Part 2: Achieving Brand Relevance
Learn the three strategies to achieve brand relevance in merchant acquiring based on the type of business:
Strategy for ISOs (start ups, small and midsize) and business software providers: to achieve a dominance in the market and be associated with merchant acquiring in the target audience
Strategy for Large ISOs, banks and processors: ties with what merchants are looking for. Learn about the example of JP Morgan Chase and how it contrasts with the Bank of America program and the impact of the brand.
Strategy for banks and card networks: Learn how Visa and MasterCard successfully use this strategy to achieve dominance but how banks fail in deploying the same strategy. Read the American Express application to connect with a new target segment of the population.