Page 42 - GS131001
P. 42
Education
StreetSmarts SM
For richer or poorer: MLS views on
customer longevity
By Dale S. Laszig
This view resonated with 1Slick67 who wrote, "Slick
Castles Technology Co. Ltd. Streetman, I agree with you 100 percent. I do this with
my local merchants as well. My office likes it when I
hat strategies do you use to retain mer- visit the [bakeries]. I always visit about 11 a.m., and they
chants? Does it make sense to counterof- always ask, would my office like some 'samples.' It's a
fer every competitive proposal, or are [win-win]."
W you selective about the accounts you try
to keep? As we've seen online and in GS Online's MLS For TPSS//Tiger, on-site visits trump phone calls and
Forum, merchant level salespeople (MLSs) have strong emails by a wide margin. "You have to . . . contact them
opinions about merchant retention. in person," he wrote. "Create a strong relationship with
them. When you contact them, [discuss] things other than
Following are recommendations on how to build long- the account. Ask them how they are doing.
lasting, profitable relationships with merchants.
Maintain clear, open lines of communication "People want to feel you care about them, not just their
business. This will create loyalty. I also try to do business
MLS Forum member Clearent wrote, "If you want to retain with those that do business with me. It means a lot to a
more merchants, you have to consistently communicate merchant when you can go into the business and purchase
to them in multiple fashions, ranging from phone calls something from them [from] time to time. They will think
to newsletters. Unless they are in contact with you often, twice about leaving a customer behind rather than just
they can wander." the credit card guy."
Add value whenever possible
Slick Streetman added, "[I]f you are a local guy like me
with your accounts in about a 50 mile radius of your Selling value, like closing, is ideally a continuous
office, communicate physically – as in stick your head in process that begins when we try to get the appointment,
their door at least every couple of months and show your continues when we close on more than just merchant
smiling face, thank them for their business, and let them services, and is perpetuated every time we check in with
know how important they are to you. our customers and explore how we can add more value to
their processing systems.
"I tell my merchants, 'Your success is my success and,
like you, I love my customers. I will always get you the This process was aptly summarized by Texascommerce,
very best rate on your card fees and take care of your who wrote, "POS/technology; loyalty; rewards; gift cards;
credit card terminal at no charge. This is how I feed my communication."
family, so, heck, you are like family to me, and I sincerely
appreciate your business.'"
42
StreetSmarts SM
For richer or poorer: MLS views on
customer longevity
By Dale S. Laszig
This view resonated with 1Slick67 who wrote, "Slick
Castles Technology Co. Ltd. Streetman, I agree with you 100 percent. I do this with
my local merchants as well. My office likes it when I
hat strategies do you use to retain mer- visit the [bakeries]. I always visit about 11 a.m., and they
chants? Does it make sense to counterof- always ask, would my office like some 'samples.' It's a
fer every competitive proposal, or are [win-win]."
W you selective about the accounts you try
to keep? As we've seen online and in GS Online's MLS For TPSS//Tiger, on-site visits trump phone calls and
Forum, merchant level salespeople (MLSs) have strong emails by a wide margin. "You have to . . . contact them
opinions about merchant retention. in person," he wrote. "Create a strong relationship with
them. When you contact them, [discuss] things other than
Following are recommendations on how to build long- the account. Ask them how they are doing.
lasting, profitable relationships with merchants.
Maintain clear, open lines of communication "People want to feel you care about them, not just their
business. This will create loyalty. I also try to do business
MLS Forum member Clearent wrote, "If you want to retain with those that do business with me. It means a lot to a
more merchants, you have to consistently communicate merchant when you can go into the business and purchase
to them in multiple fashions, ranging from phone calls something from them [from] time to time. They will think
to newsletters. Unless they are in contact with you often, twice about leaving a customer behind rather than just
they can wander." the credit card guy."
Add value whenever possible
Slick Streetman added, "[I]f you are a local guy like me
with your accounts in about a 50 mile radius of your Selling value, like closing, is ideally a continuous
office, communicate physically – as in stick your head in process that begins when we try to get the appointment,
their door at least every couple of months and show your continues when we close on more than just merchant
smiling face, thank them for their business, and let them services, and is perpetuated every time we check in with
know how important they are to you. our customers and explore how we can add more value to
their processing systems.
"I tell my merchants, 'Your success is my success and,
like you, I love my customers. I will always get you the This process was aptly summarized by Texascommerce,
very best rate on your card fees and take care of your who wrote, "POS/technology; loyalty; rewards; gift cards;
credit card terminal at no charge. This is how I feed my communication."
family, so, heck, you are like family to me, and I sincerely
appreciate your business.'"
42
