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Education

Understanding how merchants rank their pain also helps pour time and money into those channels and don't see an
with resolving objections. Let's say you present a value- increase in foot traffic because consumers have migrated
added software product to a merchant, and the response to using their smartphones to find local businesses to
is it's too expensive. What the merchant is really saying patronize.
is you haven't sufficiently explained why it's valuable.
Remember, controlling costs falls below three other pain Pair solutions to critical problems
points on our list. If you can demonstrate that the product Time and money wasted, and no customers to show for
solves one of those weightier problems, the objection goes it. You'd be losing sleep, too. MLSs are in a prime position
away. to really consult their merchant clients on these critical
Focus on revenue, not expenses changes and provide solutions that help them attract more
customers, make more money and save time every day.
Worry comes from what's at stake. For small businesses, You just need to pair your value-added solutions to the
attracting customers is literally the difference between most critical problems, and present them through the lens
staying open or shutting down, so it makes sense that of what's really worrying the merchant.
revenue-focused worries rank higher than reducing
expenses. In a separate survey, Womply asked 2,300 Everybody wins when this is done right. Agents make
merchants how long they could stay in business if sales more money, merchants solve their biggest problems, and
stopped entirely. The results were bleak: one in five would they remain in acquirers' portfolios longer because they
shut down within 30 days; nearly four in five wouldn't last receive more value. It all starts with knowing.
6 months. Cost-cutting won't solve that problem – only
increased sales will.
Barry Davis is Vice President of Business Development at Womply, a soft-
ware-as-a-service company that partners with the payments industry to
Acquiring customers, making money, and saving time are provide a technology and data platform to small business merchants in
related issues. Most merchants are stuck doing things the
old way, which means trying to attract customers through more than 400 industry verticals across the United States. For more tips
traditional advertising or other "shout" methods. They or resources, reach out to his team at partnerships@womply.com.