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Insights and Expertise
Effectively market to your merchant portfolio
It's no secret that you’re good at acquiring merchants, but
how good are you at making them feel valued over time?
If complacency often sets in, before you know it, your
merchant moves to another provider. And you wonder
why.
Merchant churn is linked to how you communicate and
market to merchants. When you are closely involved in
day-to-day activities, you often forget to engage in self-
promotion. But being the “best kept secret” doesn’t cut it
in today’s fast-paced environment. Or, after launching a
new program, you may move on to the next innovation,
forgetting to remind merchants of the program’s
capabilities and value. Although good pricing enhances
By Jaki Kackert acquisition and retention, consistent communication and
Creative Marketing Consultant customer service are integral to merchant satisfaction and
loyalty.
he relationship between you, as resellers, and
merchants is symbiotic: merchants benefit from You can maximize merchant engagement, conversion and
your expertise and support, while you earn loyalty. Consider using the following strategies to ensure
T commissions and build and retain their mer- your merchants remain raving fans.
chant base. This relationship is built on trust, service qual-
ity and mutual benefit. So, with all this trust and customer Understand your merchants
support, why do merchants switch providers? Each market has unique needs. Segment your merchant
portfolio based on criteria such as industry, size and
purchasing behavior. Use data analytics from industry
publications or your gateway provider, processor or other
tech partners to understand individual merchant needs
and preferences, allowing for personalized marketing
approaches. Tailored marketing messages resonate better
with specific segments.
Educate and inform
Small and midsize merchants are busy, but it’s still
important to offer a variety of educational tools to help
their businesses run smoothly and successfully. Host
webinars on how to maximize the use of your products or
services; this builds trust and positions you as a thought
leader.
Post your educational webinar series to your website,
along with blog posts, case studies and white papers
that address common pain points and offer solutions. In
addition, develop a robust knowledge base, FAQs and
video tutorials to empower merchants to embrace a self-
service mentality that helps them resolve common issues
on their own.
Integrate technology
The best way to understand your merchants is to
integrate technologies like customer relationship
management systems and digital marketing platforms
to track interactions, manage relationships and automate
marketing efforts.
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