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Education

should be no different. Determine each merchant's
individual needs so that the appropriate solution Listen more than you talk. This
can be offered. Asking questions and actively
listening to merchants is the most effective way to takes a lot of discipline for many,
accomplish this.
but I cannot stress enough the
MLSs should be armed and well prepared with all importance of listening.
pertinent information gathered during the lead
generation process. Research conducted before the
meeting will help in preparing the right questions.
You are attempting to determine what merchants'
pain points are, much like the doctor mentioned in or service will assist the merchant in resolving
the preceding example who asks questions about the issue. Hopefully, you are no longer selling on
symptoms the patient is experiencing. price or cost savings analysis.

Assuming you've done your homework on the 4. Close sales: At this point, you will have
prospect, start by asking questions relevant to established a relationship, along with an
the products you sell. Listen more than you talk. understanding of the merchant's needs and the
This takes a lot of discipline for many, but I cannot ideal solution for that merchant. To ensure the sale
stress enough the importance of listening. Too goes through, take advantage of the established
many MLSs tend to interrupt to offer solutions, rapport.
but if you jump in too soon—and while they are A new path forward
talking—you'll miss the opportunity.
More than ever, the desires and needs of merchants and
3. Provide merchants with solutions that their cardholders and purchasing behaviors are considered
meet their needs: The type of treatment a when designing products and services, including offering
merchant receives will be determined by your flexible pricing structures, payment options and limited-
diagnosis. After gaining an understanding of a time discounts. In addition to reducing red tape, sales
particular merchant and their needs based on the leaders have given their MLSs more authority and freedom
information you have uncovered, you should be to tailor terms, pricing and product offerings to the needs
able to recommend a product or service that meets of their merchants.
your merchant's needs.
It is not the market or merchant's responsibility to adapt
You must, of course, understand your product line to your sales strategy. An MLS is responsible for adapting
to determine which product will best serve your to the continued industry transformation. Making
merchant's needs. And, as an MLS, you must not innovations to your products and services as well as a sales
only articulate the need and identify the product strategy is critical. You can reinvent your selling approach
that meets it, but also explain why your product by creating solutions and a value-driven selling process
designed to build trust and meet the needs of merchants,
which keeps the sales process moving forward.

Much of this is easy to say but difficult to put into
practice, as is the case with most business principles.
Still, a consultative selling approach can help you gain
merchants' trust and grow your business if implemented
correctly. Your closing rate will improve if you follow
these tips, get lots of practice and use the technique in the
right situations. Keep reinventing to avoid irrelevance.

Natasa Cvijanovic, co-founder and CEO of Tesla Payments, has a proven
track record within the payment industry of cultivating successful rela-
tionships with ISOs, MLSs and strategic partners. In developing national
sales channels, she provides training and coaching to sales partners to
enable them to become better business partners and advocates for their
merchants, and to assist them in building portfolios producing steady
residual streams. She is also dedicated to consistently delivering high
levels of professionalism, integrity, dependability and trustworthiness.
Contact her at natasa@teslapayments.com.

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