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Education
StreetSmartsSM
Be bold, be innovative, be different
By John Tucker industry classification to learn about all current methods
1st Capital Loans LLC of technology delivery within that market.
I ndustry veteran and GS Online MLS Forum mem- Next, figure out what's missing. Consider what's being left
ber www.paymentlogistics.com offered a perspec- out, what market segments have yet to adapt to recent (or
tive that effectively sums up the theme of rebrand- not so recent) changes, and what market segments have
ing the merchant level salesperson (MLS), which already implemented the latest changes and are patiently
has been my main focus thus far as Street SmartsSM author. waiting for tomorrow's new developments.
"MLSs need to find out how to offer value in a way I'll offer you my rule of thumb as a guide: If you haven't
that differentiates them from the competition and researched a merchant and identified some estimated
provides tangible benefits to their target market," www. issue or opportunity that he or she faces for which you
paymentlogistics.com wrote. "What makes you different could provide assistance, then you have no business
from your competitors? What value are you offering that contacting that merchant.
others are not?"
Most of the marketing within the payments industry is all
Since August 2016, my articles have centered on about selling POS systems, but the ECR still has its place. If
rebranding as a technology sales professional, zoning in you are selling to small startup companies or other small
specifically on technology solutions related to advanced but growing businesses, you might want to recommend
POS technology. Options I've examined include electronic the ECR to begin a relationship. The lower costs and ease
cash registers (ECRs) and feature-rich POS systems for the of use could be critical to a cash-strapped startup with a
retail, restaurant, service and hospitality markets. And I skeleton crew of overworked entrepreneurs.
compared the specific pros and cons of ECRs and feature-
rich POS systems in "Rebranding as a technology sales Requisite assistance
professional," The Green Sheet, Aug. 8, 2016, issue 16:08:01.
As a business grows, you can look at recommending a
B2B technology sales feature-rich POS system as long as you provide assistance
with the following:
Business-to-business (B2B) technology sales is perhaps
the most complex sales process. To succeed, begin with • Equipment selection: As the POS system expert,
intense, high-quality market research that spans an entire you'll recommend a type of POS system appro-
priate for the merchant's environment. There are
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