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Education

ing models now. Just make sure you understand the
requirements for each—and, in the case of the sur-
charge programs, know the specific rules. I am not saying the market is
in a recession. I am saying the
• Adapt your 30-second commercial, incorporating
the new normal into your pitch. You may have al- opportunities that stand out today
ready done this, as the new normal almost dictates parallel those that typically climb
it. If not, this step is one to seriously consider.

Lessons from recessions can apply to the top during a recession.
Once you have executed your chosen step, it's time to
move to the right side of the payline, that is, it's time to
sell. But before you start making calls, examine the mar-
ket again, not just viewed through the new normal, but We won’t be able to eliminate fear, but by helping mer-
also through a historical perspective. Specifically, exam- chants address issues by examining their current pricing
ine the market as if it were a recessionary period. model and enabling them to offer necessary alternatives
in today’s new normal, we can help them be on better
I am not saying the market is in a recession. I am saying footing to meet the challenges ahead.
the opportunities that stand out today parallel those that Jeff Fortney, a senior associate at The Strawhecker Group, is a long-time
typically climb to the top during a recession. Just look payments industry executive and mentor. He is focused on sharing his
for the signs. In 2009—during the Great Recession, which industry knowledge and experience with others to help them grow their
led to major changes to our industry—people were nega- business. He can be reached at 214-458-1379.
tively affected in all markets and industries. Many of us
found that the merchants we targeted in 2007 were no
longer ideal targets in 2008. Calendar

For example, during a recession, new car sales drop, as
people usually decide it is wiser to repair their cars than
replace them. If you take a look at that market today, the
inability to get inventory, both new and used autos, has
led to people choosing to repair rather than replace their https://www.stapayments.com/registration/
vehicles. This is just one example. The demand for repair
rather than replacement can be found with major appli-
ances and other products, as well. In many industries,
supply chain issues have seriously impacted delivery of
new items, making repair the only option.
April 6 -7, 2022
Other shifts also become obvious when examining the https://northeastacquirers.com
market in light of our new normal. In conjunction with
identifying high-value opportunities, you also can adapt
your dialog to include comments about logistics issues,
lack of inventory and the impact these have on your pros-
pects' sales.
April 12-14, 2022
Worry won't help https://events.jspargo.com/ETA22/
Public/enter.aspx
Here is one possible scenario. A question you can ask ear-
ly in a conversation with a merchant is, "How has busi-
ness been throughout this time of uncertainty?" After ac-
knowledging the merchant's response, work in a simple
statement such as, "I have heard that the ticket sizes seem
to be larger for many merchants like you. Yet the mar- https://payments.nacha.org
gins seem smaller. Have you thought of different ways to /what-payments#
manage costs, including the card acceptance costs?"
If you have a show you
Another similarity between today and a time of recession would like listed, please
is the prevalence of worry. Merchants and consumers are send information to
worried about the future. There is no certainty. As with events@greensheet.com
a recession, we don’t want to play to that fear today. We
want to help offset it.
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