POWER LEADS: CALL ONLY MERCHANTS THAT ARE READY TO SWITCH PROCESSORS
Before calling on your merchant leads, arm your salesforce with a full profile with information about the decision maker, the merchant account, current processor used, and points of dissatifaction with the current processor so that you can close more merchants.
Decision Maker Intelligence
Name, phone, where the deicision is made, identified influence of decision maker.
Merchant size, products used, number of locations, e-commerce presence, etc.
Current processor used, tenure of the relationship, overall satisfaction score.
Points of dissatisfaction with current processor, pre-requisites for moving to another processor.
- 1.90 million merchants switch processors every year in addition to 300,000 new merchants on the market.
- Most of the cost of acquisition of new accounts is spent on prospecting and qualifying the lead list.
- In non-targeted lead generation, acquirers close about 0.01% of unscrubbed lead lists resulting productivity waste of the sales team.
- Acquirers calling cold leads have no information about the account and can’t therefore prioritize their calls by processing volume.
- The sales cycle is long as the salesperson tries to identify the merchants’ pain points and nurture the lead.
- Few merchants are forthcoming about their pain points leaving the sales force struggling to make the right offer.
Benefits of Power Merchant Leads
- Higher closing rate: You are only calling merchants that indicate they are considering switching processors and you have all their pain points in hand before calling them
- Decrease merchant acquisition costs: by eliminating propecting time, the sales team efficiency increases and the acquisition costs decreases considerably. The salesforce spends the bulk of its time closing deals.
- Shorter sale cycle: By eliminating the prospecting and having competitive intelligence about the merchant, you can position yourself against the incumbent and highlight the solutions that fix a merchant’s current issues.
- Control over quality and size of contacted accounts: by knowing the size of the merchant you can prioritize the calling list and even assign the bigger accounts to your best reps.