How to sell credit card processing during social distancing.

Written by Jereme on

Without face-to-face meetings, sales teams are looking for effective alternatives to win new business. 

The COVID-19 pandemic created a major challenge for sales teams: Social distancing. At the moment, it’s difficult to set up appointments to sell credit card processing at prospects’ brick-and-mortar locations, or introduce yourself at industry events. To overcome these hurdles, sales teams are adapting their processes with alternatives to traditional in-person meetings that can be just as effective.

Video sales calls.

Employees working remotely across all industries have redefined what it means to meet “face-to-face.” Video conferencing provides the ability to introduce yourself virtually, make a connection, and share your screen to provide the information your prospect needs to make an informed decision.

Incidentally, video conferencing may also provide a benefit that traditional in-person meetings don’t. With virtual meetings, it’s possible for stakeholders located too far away to travel for an in-person meeting to join the conference. This helps them get the answers they need to make their decision more quickly and shorten the sales cycle while allowing you to expand your footprint. 

Virtual industry gathering places.

The pandemic has put the brakes on trade shows, payments-related events, and local business organization gatherings. If you relied on the aforementioned as part of your sales strategy, you now need to find other ways to attract merchants. One option is using social platforms such as LinkedIn.

Social selling requires some time and preparation, but the return can be significant. Sales Partners with complete profiles that include thought leadership content, as well as their work and education history, can often find success. In fact, LinkedIn reports that 81 percent of buyers are more likely to engage with people with a strong personal brand, and 92 percent will engage with sales professionals known as industry thought leaders. Social selling also requires taking the time to post information and share thoughts on the platform to increase your visibility. Just remember: When contacts reach out on social media, it’s important for your sales team to respond promptly to keep them engaged. 

Updated marketing content.

There’s never been a more important time to make sure your marketing content is up-to-date and easily accessible. Prospects will be relying on the internet to research companies that sell credit card processing. That means the content on your website (and your digital brand image) will impact how full your sales funnel will be. It’s also smart to update printed materials – even if you aren’t leaving them with a prospect after a meeting, you may be forwarding them in an email or sharing them in the chat of a video conference.

Safer ways to communicate.

Showing prospects the value you can offer their business often requires sharing sensitive information, such as a business’ current credit card statement. Make sure you have secure ways to communicate and transmit information to protect that data. For example, you may use a shared file that protects data with encryption, and that only you and the prospect can access.  

Proper sales team management.

If your sales team is working remotely, it’s vital to find ways to keep them on track. Continue to meet as a team virtually, and make sure your sales reps have tech solutions in place that allow them to access the applications and information they need. Also, be sure to review company policies and update them if necessary so that reps can adhere to data protection best practices.

How you sell credit card processing isn’t the only thing that has changed.

If you had primarily worked with small and medium-sized (SMB) brick-and-mortar businesses prior to the pandemic, you are probably not only adjusting how you sell credit card processing but also what you are selling. Your prospects’ focus has likely shifted from processing card-present transactions to adding online payment capabilities. They may also be looking for solutions that help them meet customer demands for touchless experiences, such as accepting contactless payment cards or mobile wallets, or using QR code payment or text-to-pay solutions.

Furthermore, your customers and prospects may not even be aware of the options available to them. You may be able to win new business by taking a consultative approach, educating SMBs, and helping them choose payment solutions that will help them adapt to new business models or safer ways to operate such as solutions for curbside pickup. 

Most importantly, don’t take your foot off the gas.

Some merchant services providers responded to the health crisis by circling the wagons and focusing only on their current accounts. However, that strategy may lead to missed opportunities. Although some markets have been hit hard by the pandemic, many of those business owners are now looking for ways to recover and rebuild. New payment solutions can be a big part of their strategy. Make sure your team is there to sell them the forward-thinking credit card processing services they’ll need to ensure their success.