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Education

Breaking free of the pack the complicated details that will only confuse MLSs
or others on your sales team. The trick is to make it as
You see, what we realized early was that too many ISOs simple as possible. This will give them the confidence
and MLSs were knocking on the doors of retail businesses. to go out and cold call these niche markets.
The continual flood of eager payments industry hopefuls
inundated the field, and our agents were frustrated with
being turned away again and again. Then we started to Safari Njema!
focus on niche markets, and our agents began to have a
much different kind of experience when they were out cold Dee Karawadra is president and CEO of Impact PaySystem, and Emily
calling. They found that the petro market or lodging market Karawadra is the company's chief financial officer. Since 2001, Impact
was not flooded with other MLSs, which made it easier for PaySystem has been a leading provider of payment processing technolo-
them to close deals. Also, they received more referrals from gies and services to merchants throughout the United States. Through
this new customer base than they normally got from the alliances with payments industry leaders such as Chase Paymentech,
retail space. First Data, Buypass, Sage and more, Impact PaySystem offers tailored
solutions to meet the unique needs of each merchant. Dee and Emily will
Focusing on niche markets narrowed the scope of our welcome your questions and comments at dee@impactpays.com and
competition. The merchants in these markets were not emily@impactpays.com, respectively.
being overwhelmed with cold calls or telemarketing.
And we were able to strategically target demographic
areas within the niche market and close business.

Preparing to jump in Snapshot of Upcoming Events
Seeing this as a viable strategy for others going
forward, we want to bring to light several things to
keep in mind when you are devising your sales plan
for a niche market.

• Learn all you can about the niche market you
are targeting. Understand their struggles in run-
ning a business in their niche and any specific
needs they may have. Learn their lingo and shop
talk. For example, if you are targeting restau-
rants, you need to understand shift changes, tip April 6 - 8, 2020
edit and types of POS software used. Intercontinental Miami
• Find a processor that has the best technology Miami
for niche market you are targeting. This is a https://events.american-tradeshow.com/seaa20
huge piece of the equation needed to success-
fully master a niche market. The product and/or
service you are selling must have the capabilities
to support this niche and grow with the niche's
future needs. In addition, make sure you have
full access to the processor's systems so that you
can maintain your merchant accounts.
• Educate your support staff on setup and main-
tenance in this niche market. Bring in-house
your processors' systems so you can give first-
hand information and have access to make
changes where needed. Make sure your staff can
confidently talk about this niche market and un-
derstand the merchants' needs in this market.
April 28 - 30, 2020
• Educate your MLSs/sales team. Take the most
important information about this niche and Mandalay Bay
dumb it down. MLSs are not looking to under- Las Vegas
stand the complex intricacies of what goes on www.electran.org/events/etatransact/
behind the scenes, but they do need to be able
to have an intelligent conversation. Weed out all

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