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Education

could have one problem taken off your plate, what would When cross-selling, you have to be able to put the product
it be?" If not, give it a try. This can be a powerful starting into the context of everyday business problems. The best
point to a true consultation, and it allows you to frame your way to do that is to use data and case studies in the sales
products as solutions rather than just stuff to buy (that is, process. Merchants want validation and social proof. Case
costs). Get good at asking questions and knowing how your studies show that other successful businesses are using the
solution set addresses specific needs. product and getting results. Data adds objective backing to
an otherwise subjective sales pitch.
3. Be brief. Be brilliant. Be gone.

The previous two tips are prerequisites for this one: you Ask your product and service partners to arm you with
simply must be brief. If there's one refrain we hear over sales enablement materials such as case studies. Once
and over from merchants, it's that they just don't have time. you've identified a merchant's problem and proposed a
Ironically, many of the solutions you're cross-selling can solution, you can really give them something to think about
save them time if they'll only take a few minutes to listen. by providing evidence that what you're saying has worked
for others. Leave merchants with collateral so they continue
This is why you have to understand merchants' pain, learn to think about your presentation after you're gone.
their top challenges in a question or two, and then respond 5. Remove the risk
with a credible solution without added fluff. The best
closers know how to get to the point when it's their turn Buying on speculation might work in some cases, but not
to talk. If you find yourself getting long-winded, consider when you're selling new products and services to skeptical
this quote often attributed to Albert Einstein: "If you can't and cost-sensitive merchants. Allow them to try before they
explain it to a six year old, you don't understand it yourself." buy.
The price for being brief is doing your homework ahead of
time. Every product you sell should have a free trial or money-
back guarantee. Remember, the cost hurdle is especially
Ask good questions. Listen. Respond with an airtight pitch high for merchants. They need a risk-free window of time
that addresses the merchant's specific challenges. Do these to explore the product. Once merchants see value, they'll
things, and you'll be surprised by how receptive merchants see your product as an asset instead of another cost. And
are to purchasing new products and services from you. they'll trust you more the next time you suggest a product
or service for their business.
4. Leverage data and social proof

Think about the most memorable presentations you've There's never been a better time to sell merchant services.
ever seen. Chances are they stick in your mind because the While the challenges are acute, the interests of merchant
presenter told a compelling story or threw out a stat that acquirers, software companies and Main Street businesses
surprised you. are aligning as never before. As a result, MLSs have unprec-
edented opportunities to
make more money if they
can take a truly consulta-
tive approach to sales.

Barry Davis is Vice President
of Business Development at
Womply, a software-as-a-service
company that partners with the
payments industry to provide a
technology and data platform
to small business merchants in
more than 400 industry verti-
cals across the United States. For
more tips or resources, reach out
to us at partnerships@womply.
com.

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