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Education

merchants to provide leads requires understanding what referrals at this point. But when you do get one, make sure
motivates them. Typically, it's not a small financial incentive, you obtain permission to use the referrer's name.
but rather a quid pro quo. This necessitates a change in how
you approach merchants for leads. Staple your business cards to promotional materials
you receive from your customers before sharing them
At the time of equipment installation, most MLSs say with your other merchants. Consider sharing these with
they like doing business with people who do business potential clients, too. It demonstrates your commitment to
with them, or something similar. It's encouraging and is your merchants and may encourage prospects to become
a positive way of building rapport. What's missing is the customers.
second half of this statement. A simple statement that will
start the referral process, such as, "I also like to encourage Remember to stay in touch with your merchants regularly
others to use my partners. Do you have any flyers, business and ask if they've talked with anyone that might need your
cards, or menus you would like me to share?" help. Sharing referrals provides a compelling rationale for
visiting them and shows your ongoing commitment. Ask
Almost all merchants have something they can provide if they have new neighbors or friends who could benefit
you, and would be pleased to do so. In turn, you need to from your services. Always end with, "I have been sharing
plant the seed for leads. Once merchants provide you with your services with others. I hope it has helped. I like doing
their information, bring out your business cards and say, business with people who do business with me."
"I hope you feel the same way I do. Here are some of my
business cards. If you know anyone who currently accepts When done correctly, referrals can fill your lead pipeline.
credit cards, or needs to, please feel free to give them my All it takes is offering to share with others if they share
card." Encourage merchants to write their names on cards with you.
they hand out so you can thank them.
Jeff Fortney is Vice President, ISO Channel Management with Clearent LLC.
Before you leave a merchant, ask for nearby businesses He has more than 17 years' experience in the payments industry. Contact
contacts. You are planting a seed, so don't expect many him at jeff@clearent.com or 972-618-7340. To learn about how Clearent
can help you grow faster and go further, visit www.clearent.com.