In today’s competitive market, it’s becoming increasingly difficult for independent sales organizations (ISOs) and merchant level salespeople (MLS) to sell payment processing systems and make a profit. As small and medium-sized restaurants are focused more and more on price, the profit margin is smaller than ever for sales representatives. Offering the lowest processing rate and making money on hardware and hidden fees is no longer a viable way to win and retain merchants.
The answer for ISOs is selling solutions—smart terminal or devices with added technology that offer more than just a credit card processor. With the right technology, quick-serve restaurants, cafes, coffee shops, and food trucks can reduce their costs, increase their revenue, stay competitive, and innovate for the future. However, many don’t know about the new technology available to them. It’s up to the ISOs to educate them and provide them with options and solutions that will grow their business.
With a large number of fintech startups bringing new innovations to market at a whirlwind speed, merchant level salespeople have more options than ever to provide their customers with integrated payments solutions that add definitive value beyond a simple payment processing system. Options exist with the capabilities to enhance and streamline business operations such as self-order kiosks that result in increased ticket sales and more efficient use of staff and space, and/or mobile apps that drive more sales, enhance the customer experience, increase loyalty, attract new patrons, speed up service, and cut down on errors. Added value also comes in the form of data and analytics that can be used to tailor marketing and ordering.
Instead of simply selling a credit card processing system, successful ISOs must sell solutions to be successful in an increasingly technology driven and results oriented world. Solution selling can make your offering unique and competitive, resulting in happier and more successful customers and higher profits.
Solution selling is the new paradigm to serve your merchants and provide them with the best possible technology to grow their business…and yours.
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