A basic tenet of economics is scale. The more stores a merchant operates, the more customers a merchant can reach - which translates into more money in the merchant's coffers. In the ISO and merchant level salesperson (MLS) realm, the larger the portfolio, the larger the residual income stream.
But scale is not exclusive to monetary transactions. Scale is at the heart of all human endeavors. Religions need followers to spread their messages, politicians need constituents to get elected and social movements need supporters to influence societies - the more the better. In fact, scale is necessary for ideas (or wealth) to grow.
As the holiday season gains momentum, ISOs and MLSs may want to reflect on how scale can be employed to spread positivity and good cheer.
The average ISO or MLS is in the enviable position of having valuable connections to hundreds, if not thousands of people. And because merchants rely on their merchant processors to stay in business and increase profits, merchants value their processors' messages.
Merchants are more likely to open emails and read direct mailers from their service providers than those sent by strangers. Sales agents are therefore situated to deliver messages that are both informative, timely and enlightening.
ISOs and MLSs can reach out with email blasts or cards inscribed with handwritten notes. They can post YouTube videos that deliver statements or insights.
They can send gift cards with reminders about the spirit of the season. The possibilities for communication with merchants has never been greater; the only limits to sales pros are time and creativity.
The best kind of gifts are the ones that come with no strings attached. Saying "Happy Holidays" and asking for referrals at the same time feels like a sales ploy. However, more sales may result from a sincere holiday greeting with no pitch attached.
ISOs and MLSs who make the effort to express the positive spirit of the holidays will be rewarded for it. Like everyone else, merchants respond to the personal touch. They may not remember general holiday messages, but they will remember who sent them.
It is also true that giving makes you feel good. Even if it's just a thoughtful, personalized message delivered once a year, giving is its own reward. And it's contagious. A gift may inspire the recipient to give something of themselves to someone else.
Think about it. A simple message of hope and peace could have profound effects, making a merchant smile at the end of a long day or inspiring a host of merchants to send along similar messages to their customers.
The payments industry services millions of merchants. If every ISO and MLS sent out heartfelt greetings to all of their merchants, it would represent an avalanche of positivity and hope. Like the standard business model designed to achieve that all-important scale, promoting good feeling during the holidays is a numbers game as well.
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