Transitioning to the card payments industry is often a two-edged sword: potentially a financially rewarding endeavor, yet often difficult for the sales professional new to an unfamiliar industry. This program is designed to assist both new and seasoned veterans attain true financial success by employing a simple and effective sales process.
CAREER TRANSITIONING AND OUTREACH CAMPAIGNS
Discovering potential clients requires a process be implemented and an action plan established. Gone are the days of random cold-calling and door knocking when a focused campaign will be much more effective. We discuss our two-prong approach and walk you through the process.
YOUR NATURAL MARKET ACTION PLAN
The first market you should target are those who know you and may become your strongest advocates. But how does one go about finding this market, much less developing it? We cover a an effective and easy to implement action plan covering every step in this part of your prospecting campaign from identification to appointment.
YOUR UNIQUE VERTICAL MARKET ACTION PLAN
The second market to develop relies upon your past work experience and industry familiarities to establish you as a SPECIALIST in the marketing, selling, and support of payment processing services to specific vertical markets. IProcess has the specific industry knowledge on over 200 vertical markets to meet almost any sales professionals needs, and we cover every step in this part of your prospecting campaign from outreach to appointment.
iPROCESS - Knowing the Industry Section 10 - Outreaching and Prospecting Campaigns
“Sales are contingent upon the attitude of the salesman, not the attitude of the prospect” -W. Clement Stone
Prospecting Campaigns and creating an ‘Outreach Process’.
So you have learned a bit about the processing industry. Through iProcess you have a grasp on many of the specifics regarding the payment industry, it’s products and services.
Furthermore, you have taken our advice and laid out a thorough business plan and all that comes with it - a business identity, sales collateral and even have thoughts on a few vertical markets you are inclined to explore. What’s left?
Just two things - attract potential customers and close a few deals.
Simple. Yeah, right.
In this section Pathfinder will tackle the first of these two conundrums. Identifying, outreaching to, and attracting potential customers. We will introduce a method, one which you can tailor and implement to your needs. We will then discuss the resources available to help you identify potential customers across a diverse and broad geography. Best of all, we will share several secrets geared to provide you the same level of access that many of the top agents inn the industry have developed over the years.
What is a ‘Prospecting Campaign?
Once, many businesses grew by sales people taking to the streets and pushing products door to door, house to house. Fuller Brush, Rainbow Sweepers, and even the great Encyclopedia Britannica have been sold in this fashion. Today, things have changed a bit.
Door to door sales, or cold calling, MAY be an activity to employ, but there are challenges you will face. Weary customers who are easily annoyed by unwanted physical interruptions, ‘gatekeepers’ whose role is to prevent you from bothering the decision makers, and even laws and regulations prohibiting solicitations from energetic and often well meaning sales people. Yes, cold-calling is not without it’s challenges.
We have an alternative to the cold call approach.
But first, you need to understand a few terms.
The first is ‘process’. There are several definitions, but the one most apt for this discussion is the following:
a series of actions or steps taken in order to achieve a particular end
The second is ‘prospecting. Again, there are several definitions, however try this one on for size:
to search or explore a region for gold or the like
I’d guess we surprised you there, but we at iProcess feel this is the most apt visually, and the image we want you to have in your mind as you make your outreach attempts. Every potential client is incredibly valuable like a raw piece of gold. Yet just as gold must be extracted and processed to release it’s true value, so must merchant prospects be distilled into actual customers.
The final definition we would like you to think about is the word campaign. The following is the definition we think most apt:
a systematic course of aggressive activities for some specific purpose
Establishing a campaign to outreach to prospects is a perfect way to complete our goal in this section. Combined, these three concepts paint a very clear picture of what a sales professional must accomplish to create successful and consistent sales production:
It is our GOAL to create a PROCESS to identify PROSPECTS, and to create sales opportunities by implementing an effective outreach CAMPAIGN.
How does this sound, or would you prefer burning shoe leather and gas by randomly cold calling merchants? Your choice!
Identifying fertile opportunities and the theory of low-hanging fruit
iProcess wishes to help you become successful. To do so we want not only to educate, but whenever possible alleviate your work load. Let us pose a question:
If you were faced with a difficult task, wouldn’t it be intelligent to uncover ways to make the task as efficient as possible? Look at apple picking for a moment.
If you have eve been apple picking, you will understand that in order to pick the best fruit one sometimes must go to great lengths, and even heights, to get the choicest, juiciest apples. However, if you were to find ideal specimens near ground level, wouldn’t picking that fruit make your task easier? Of course it would!
iProcess suggests creating two outreach campaigns to create sales opportunities. The best thing about our suggestions is that in many cases they represent the ‘low hanging fruit’ you may have overlooked. Indeed, many times it’s still a matter of SEEING the opportunities and not knowing how to get in front of them. iProcess to the rescue!
Natural Market Outreach
A natural market is simply the people and businesses whom you have working personal knowledge or better still an active personal relationship to build upon. These opportunities are very important because they will typically afford you a level of engagement when you reach out to them. More on this later. The following is a brief description of those who fall into a natural market:
- Family members
- Working relationships - where you are their client or they are yours.
- Professional relationships - such as working with the PTA or as a soccer coach
- Consulting relationships - such as your doctor, your pastor or tax accountant
- Peripheral relationships - such as your relationship with your child’s teacher
These six areas cover a massive amount of ground. Creating an outreach process to grow relationships in this group can unlock not only sales opportunities, but often just as important, create robust referral partnerships.
Unique Vertical Market Outreach
Another resource is created when you apply your work history and unique skills and experience to service the needs of select vertical markets. What is a vertical market?
in business, all of the potential purchasers within a business
sector; a market which meets the needs of a particular industry by producing
similar goods or services, e.g. retail, insurance, transportation, education, etc.
iProcess has gone one better. We have identified vertical markets based upon MCC classifications and divided them into just over 200 distinct classifications. Then we have collected payment processing data reflecting general industry ‘appetite guidelines’ to help develop your understanding of payment processing needs relevant to each industries operational practices.
Such information includes but is not limited to:
- Equipment typically used in the industry
- Key concerns of the business owner
- Value of peripheral services
- Opportunities to differentiate oneself from the competition
- Typical obstacles to the sale
- Concern items and support requirements
- And much, much more!
AND THIS DATA IS AVAILABLE 24//7/365 ON YOUR MOBILE DEVICE!
Armed with this information, a sales professional can advance significantly within a vertical market towards a level of sales familiarity and professionalism without having to work years to acquire this knowledge.
This, combined with your unique industry familiarity, can turbo charge your outreach activities if you incorporate a sound action plan and apply yourself with the proper zeal and attitude.
Two campaigns. One result. A full calendar of sales appointments!
The purpose of course is to help you load up your sales funnel with appointments. Take our challenge and let us know if it works for you!
The next two chapters will outline a simple and intuitive process you can implement over the next few weeks. With the appropriate action plans and commitment, there is no reason you should lack for sales opportunities if you apply the principles as outlined and adjust your activities accordingly.
And iProcess is committed to grow with you, with an ever increasing database of knowledge, combined with Pathfinder and our proficiency guide providing answers to many common questions from payment processing sales people voiced across the United States.
iProcess. Sell Payment Processing like a Pro!