Tips to Jump Start Your Credit Card Processing Company

It was the first long weekend of the summer, so you decided to take a couple of days off. What better way to recharge your batteries, right? However, as you start back to work, it feels like something has changed. All of those leads that seemed to be falling from the sky are drying up. You ask yourself, “Why isn’t my phone ringing like it did before?” You suddenly feel like you’ve lost all momentum with your credit card processing company, and quite honestly, you’re a little worried.

If you read last week’s blog post, you may be thinking this is my way of saying, “I told you so.” But I promise it’s not.

Taking time off is very important. We all need to recharge our batteries. If this was the time you needed to relax and refocus, then your time off served a valuable purpose.

However, if you are now feeling the need to resuscitate your credit card processing business, there is a way to regain your momentum without starting over.

Recharge Your Confidence

Getting off to a slow start can have a serious impact on your confidence. That’s why you should start by talking with your existing customers. Before you call even one new merchant, touch base with several existing customers and ask how their sales were over the weekend and if they need anything from you. This is a great time to review their business in your merchant services software.

Now is also a great time to ask for referrals. Don’t stop calling your current customer base just because you get one or two leads. Keep calling them until you have covered all of your critical merchants, as well as those you haven’t talked with in some time. Even if this takes an entire day, it will be time well spent.

As you make these calls, you will find that you are regaining your confidence and developing a nice list of leads.

Call Referrals First

Cold calling may be what kicked off your momentum in the first place, but as I’m sure you know, it takes time and you’re trying to economize. Remember, your goal is to get your momentum back to where it was before the holiday weekend.

Referrals, especially if they come from your satisfied merchants, are more likely to lead to successful sales. They are also easier calls than cold calls and help you get back in the practice of calling to promote your credit card processing business.

I do want to share one major caveat, though. Remember, being told “No” is not a bad thing. Not every merchant will sign, so don’t let hearing “No” impact your confidence. Plus, even if the merchant is not interested, they still may be a referral source.

After you have gone through your new referrals, call back those referrals you received shortly before your break. Many may have been waiting for the holiday weekend to pass, and may be willing to talk now.

After working through your referrals, you will likely find that your confidence is restored, and new business is again starting to flow. All that is left is one last, but key, step.

Jump In With Both Feet

At this point, it’s time to restart your cold calling program. Even if you typically receive a lot of referrals, it’s important to remember that your credit card processing company won’t reach it’s full potential unless it includes some form of cold calling.

Before you start, look back and identify what worked well before your break, and what didn’t. Concentrate on the positive and steer clear of any roadblocks. No matter how you cold call, if it was valuable to you before your break, it will still be valuable today.

Unlike sporting events, momentum in sales is self-generated. It only waxes and wanes when you stop selling. By following these steps, you will find it never left. It just took a short break, too.

About Author

Jeff Fortney

Jeff Fortney

VP, ISO Channel Management

Jeff Fortney has 25 years of experience in payments, with a focus on helping ISOs and agents grow their portfolio. His experience encompasses all forms of payments. He has served on various industry committees and boards and is also an author in various trade publications. He and his wife of 40 years live in Plano, TX.

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