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EducationContinued

Selling today: Two types of buyers

In 2003, Roy H. Williams noted distinct personality traits
Consultative, not of transactional buyers versus relational (consultative
selling) buyers, as follows:
transactional •Transactional buyers: focus only on today and not
looking to the future, look for price and value and have
an instinctive fear of overpaying, enjoy comparison
By Michael Gavin shopping and the negotiation process, and will share
Merchant Warehouse their "great deal" with peers.

•Relational buyers: see today's transaction as one in
oday's payments landscape is in a state of evolu- a series with the promise of a continued relationship,
tion fueled largely by technology. From mobile fear only making the wrong choice, value trust and
payments and integrated commerce to tablet- confidence in both the seller and solution, don't enjoy
T based and mobile POS offerings, new technolo- the comparison and negotiation processes, and seek out
gies are flooding the marketplace. And whether you're an experts they can trust.
ISO, a merchant level salesperson or a value-added resell-
er, these solutions should be viewed as an opportunity to Unlike selling strictly on price, a consultative approach
drive incremental revenues, as well as enhance your value begins with a deeper conversation, asking discovery
as a trusted resource for your customers. questions and listening to your prospects' responses, and
working to identify and confirm needs. Without a clear
Capitalizing on this new opportunity will require work. If understanding of the challenges your prospects are facing,
you haven't sold these types of solutions previously, there you cannot deliver solutions that truly meet their needs.
will be a learning curve, but the return will far outweigh It's important to:
the investment if you conduct research and select products
that fit your niche or vertical targets. • Build trust with prospects and customers
• Focus on solutions, not price and commoditization
Two types of sales • Educate yourself – acquire a deep knowledge of
the solutions you offer and the new opportunities
If you have focused exclusively on selling payment presented by POS, mobile commerce or other new
processing and terminals, adding new technologies may solutions
also impact your sales process. When selling terminals and • Align solution features to the prospect's WIIFM
processing, much of the focus is on price – interchange (What's in it for me)
rates, incremental fees, contracts and terminal costs. • Keep it simple – identify immediate benefits;
Service and support also are factors, but do not usually then touch on the potential scalability or future
sway customers' purchasing decisions – that's price and opportunities
price alone. • Stay engaged before, during and after the sale –
consultative selling is like a marathon, not a sprint
This type of sale is often referred to as transactional. It's
quick, easy and often involves customers who know what Even for professionals well versed in both transactional
they want or need, and are looking for the best price and and consultative selling, it's critical to remember the basic
fastest turnaround. principles of each. We're facing a trove of new opportunities
that requires us to deliver business solutions as opposed to
Selling more sophisticated solutions requires a consultative, transactional services. Those who succeed will enjoy long-
or customer-centric, approach. Author Mack Hanan standing success, earning more and keeping customers
introduced the term “consultative selling” in the 1970s in longer as well.
his book of the same name. It's typically defined as a sales
technique whereby the salesperson serves as a qualified As Merchant Warehouse Senior Vice President, Sales, Michael
consultant for the prospect, collaborating to determine the Gavin is responsible for day-to-day management of the company's
needs and then recommending products or services that
specifically meet those needs. direct sales, as well as leadership of all sales activities within
the company's agent channel. He has served as a key leader
The definition falls directly in line with serving as a trusted within the organization since joining the company in late 2000.
adviser. In this role, it's important to focus primarily Merchant Warehouse's Genius Customer Engagement Platform is
on delivering solutions, not on price – and to identify a single, intuitive platform that integrates every transaction tech-
prospects' specific personality traits. nology, loyalty program and more. Contact Michael at mgavin@
merchantwarehouse.com. For more information on the company,
visit http://merchantwarehouse.com.
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