by | Mar 22, 2016 | Marketing, New Merchant Acquiring |
In order to get merchant lead referral from 20% of your merchant base on a consistent basis, you need to build an intentional and deliberate referral system that bridges the divide between merchants’ attitudes and acquirers’ attitudes towards referrals....
by | Mar 13, 2016 | New Merchant Acquiring |
After exploring why ISOs and acquirers don’t get more referrals, we explore in this piece why over 99% of merchants don’t refer and what motivates merchants to refer. The three elements that contribute to this low number of referrals from merchants are: 1) a...
by | Sep 8, 2015 | Industry Insights, New Merchant Acquiring |
The average cost of acquiring a new merchant in the USA reached $693 per account signed. The merchant acquisition costs depends on four variables. Institution Type: Banks have a lower acquisition cost than ISOs/acquirers and processors. Some companies that cross-sell...
by | Sep 8, 2015 | New Merchant Acquiring |
The adage goes: “You can catch more flies with honey than with vinegar” and it doesn’t apply just to flies. It looks like merchants too like honey more than vinegar. Yet, it is astounding to see the large number of ISOs and merchant acquirers that use vinegar in their...
by | Jun 9, 2014 | New Merchant Acquiring |
Looking at a sale as a long term investment is essential to having a high closing rate, hence the importance of lead nurturing in merchant acquiring. Successful companies use lead nurturing in order to communicate, educate and eventually push their prospects through...
by | Jun 4, 2014 | Marketing, New Merchant Acquiring |
The one fundamental element that keeps merchant acquirers away from achieving the type of success in their acquisition of small merchants (processing below US$5 million/year) is philosophical in nature. When I talk to merchant acquirers, they usually mention that...
