By Jaki Kackert
Creative Marketing Consultant
The relationship between you, as resellers, and merchants is symbiotic: merchants benefit from your expertise and support, while you earn commissions and build and retain their merchant base. This relationship is built on trust, service quality and mutual benefit. So, with all this trust and customer support, why do merchants switch providers?
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 acquisition and retention, consistent communication and customer service are integral to merchant satisfaction and loyalty.
You can maximize merchant engagement, conversion and loyalty. Consider using the following strategies to ensure your merchants remain raving fans. Understand your merchants 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.
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.
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.
Not only do these automate processes, but they also give you valuable insight into the preferences and history of your merchants. Make sure the communications and marketing campaigns you create use a tailored approach; personalize emails based on merchant profiles.
In addition to having dedicated account managers maintaining regular contact with key merchants, utilize focus groups or quick questionnaires through vehicles like Typeform or Google Forms to regularly seek feedback from your merchants to understand their needs and improve your offerings.
Foster a community where merchants can share success stories and testimonials, ask questions, and learn from each other. Partner with industry leaders to collaborate on campaigns designed to expand your reach and build credibility within the merchant community.
In addition, work with web developers to ensure your website—your calling card—remains dynamic, user-friendly, relevant and incorporates search engine optimization functionality. The more dynamic and fluid your content, the higher placement you’ll have on search engines.
Also, maintain an active presence on social media platforms relevant to your merchants, sharing valuable content and engaging with your audience. Use your digital marketing platform (especially those offering AI functionality) to schedule and post content, which will save time.
Regularly analyze the performance of your marketing efforts and adapt your strategies based on data insights. Keep abreast of industry trends and continuously refine your marketing strategies to stay relevant and competitive.
Marketing to merchants involves understanding their needs and providing value that addresses their pain points and solicits acceptance and understanding. By implementing the strategies discussed, you can effectively educate and communicate, which in turn, fosters engagement, loyalty and growth. 
As a seasoned marketing professional, Jaki Kackert has contributed to the success of organizations within the payments space and financial services sector and has helped brands, both big and small, create awareness and drive results through effective marketing strategies. Contact her at jbkackert@gmail.com.
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