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Education

Three ways to add 2. Sell to enhance the functionality of
existing technology
value to your sales In today's digital age, conducting business has

expanded beyond basic brick-and-mortar operations.
process Now more than ever, small businesses are leveraging
the advancements and affordability of technology
to compete with big-box and regional chains on a
By Jeh Holsomback 24/7/365 basis.
Secure Payment Solutions Inc. Channel resellers that help customers deploy
complementary solutions like online ordering,
ccording to the Small Business Association, ecommerce, and loyalty and digital marketing
30 percent of new businesses fail during the programs will empower their clients to enhance the
first two years after opening, 50 percent close functionality of their existing POS systems. Selling
A during the first five years and 66 percent fail integrated technology solutions will also provide
during the first 10. And as ISOs and merchant level sales- clients with real-time access to critical business data
people, you've experienced attrition caused by business that enables them to make smarter business decisions.
failure.
3. Sell solutions that contribute a tangible ROI
Several common reasons businesses fail include
inadequate research of target market, weak business plan, Every business, regardless of industry, functions
insufficient financing, bad physical location and/or weak best when ownership and management have a solid
web presence, inferior marketing, and inability to adapt understanding of the key performance indicators
to changing conditions. Even when a merchant hits all the they need to hit to ensure success. When selling
right notes, time and resources are often scarce, putting a technology solutions, channel resellers must have a
business at risk. good grasp of the ROI that the proposed technology
solution offers.
In this kind of environment, your customers are continually
turning to technology to create a competitive edge for their In addition to setting up POS and payment systems
businesses. To capitalize on this trend, channel resellers and training your clients, communicate the types of
are evolving their sales processes. The emphasis is no results they should see from utilizing their solutions.
longer on selling standalone POS or merchant processing Managing expectations up front and helping your
solutions based on rate reduction or free equipment. clients monitor ongoing performance will create
greater stickiness with your client base.
The way to make sales is to focus on the value you A strategy to emulate
provide in the business relationship. There are three keys
to successfully selling with this approach: sell yourself People buy from people they trust and value. If they are
as a trusted adviser, sell to enhance the functionality of evaluating multiple technology solutions that are similar
existing technology, and sell solutions that contribute in functionality and cost, the winner will often be the
a tangible return on investment (ROI). Following is an one from the company that sells the true value-add the
explanation of each of these keys to success. company brings to the relationship.
1. Sell yourself as a trusted business advisor
For POS and payments solution providers looking to grow
To remain competitive, channel resellers must their businesses, a clear strategy is emerging: become a
embrace the role of trusted business adviser by trusted business adviser, offer technology solutions that
offering not only technology solutions, but also enhance existing IT systems and communicate ROI.
industry expertise. Whether your customer is an This sales approach will result in more loyal, profitable
independent operator or nationwide chain, take the business relationships with your client base.
time to truly understand your client's business and
become adept at reviewing business processes to Jeh Holsomback, CEO of Secure Payment Solutions Inc., has been active
identify pain points, bottlenecks and inefficiency. in the payments space for 15 years. He has helped to grow SPS from
founding to 27 employees with clients in all 50 states. SPS is involved in all
The ability to help clients solve real-world business aspects of electronic payments, including their development and launch
problems by combining strategic business advice of Paradise POS. He can be reached via email at jeh@spscards.net.
along with technology solutions will not only reduce
client attrition, but also empower your organization
(and your client) to increase revenue and profit
margin.

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