Page 45 - GS161101
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Education
• How often do you reach out to your existing If you are a sales driver, identify which merchant has
merchant base? Weekly, monthly or only when been with you the longest and requires the least amount
they call you (letting sleeping dogs lie, so to of effort. For the portfolio-growth individual, which
speak)? merchant almost always reaches out to you when an issue
arises, and seems reliant on you as his or her trusted
• What is your exit strategy? advisor?
Examine your answers and classify them into two groups: Examine these merchants and think about why you chose
portfolio growth or sales driver. For example, a sales them. What makes them unique? Once you answer this
driver is likely to concentrate on a specific terminal or POS question, examine your total portfolio. How similar are
solution and would rather be out selling than spending your other merchants to the one you identified as being
time on support. A portfolio growth individual is usually the best fit? The odds are strong that those who have been
more hands on with customer service and tends to be with you for a while are quite similar. Once you have
more technologically savvy. identified the type of merchant that fits you best, adjust
your marketing efforts and target those types of merchants
If your answers are skewed heavily one way or the other, more than specific marketplaces or other classifications.
you have a clear picture of who you are. However, if you
are evenly split or have only a slight variation between the Don't be like my brother and end up with sore feet. Sign
two, don't fret. That defines you, as well. merchants that fit you best, and you will find yourself
much closer to that exit strategy you stated. And after all,
Adjust your marketing isn't that really your end goal?
The next step is to identify which of your merchants best Jeff Fortney is Vice President, ISO Channel Management with Clearent
fit you. It's easy to eliminate the merchants that you dread LLC. He has more than 17 years' experience in the payments industry.
hearing from when they call. After they are eliminated, Contact him at jeff@clearent.com or 972-618-7340. To learn about how
consider your classification. Clearent can help you grow faster and go further, visit www.clearent.
com.
