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Why We Wrote This Book
With over 20 years of combined experience in the bankcard industry and after working with multiple ISOs and financial institutions we came to the realization that there never had been an industry guidebook for field sales people. We wanted to create a book that covered everything from basic industry information to traditional sales techniques and the new sales strategies.
I remember the first company I went to work for (MB). They trained me for one hour in a coffee shop, gave me some brochures and said “Go Get’m Tiger”. I was one of the lucky ones; I actually made it. But I’ve seen hundreds of sales people leave this industry because no one took the time to educate them properly.
There was no roadmap or material that gave me a general overview of the merchant services industry or explained how everything really worked, let alone something that would help me development and execute a sales plan.
Even today there is a significant gap in the skill level of the merchant services salesperson. Other industries, such as telecommunications, computer services, financial investment services, loan origination and real estate, offer in-depth training and industry information for their sales people.
But, the merchant services arena has not, until now. The agent out in the field is often left to their own devices. This creates an uneducated salesperson that projects a negative image for the ISO, Acquirer, Member Bank, Associations and the Industry as a whole.
Our goal is to stop this madness and help you become a knowledgeable creative professional salesperson.
In this book, we will educate, motivate and empower transaction processing professionals to better represent their company and the industry in a more professional manner.
You’ll find a history of the industry, how the system works, basic explanations about rates and fees, and descriptions about existing and new products. You will also find valuable information and interviews about industry trends and product development, as well as a step-by-step approach to prospecting, lead development and the sales process.
There is a difference between knowing “About” something and truly “Knowing” something. If I tell you how to ride a bike you will know “About” riding a bike. But you won’t really “Know” how to ride a bike until you get on it and pedal.
We know how to sell merchant services, there are a lot of people that know “About” the business. We’ve taken our lumps for sure and hopefully our experience will help you avoid some of the “bumps in the road” we’ve experienced.
Like any book, this will continue to be a work in progress. We welcome any comments on how we can make this a better guide to new and experienced salespeople.
Please email comments, suggestion or ideas you may have to help improve this book to: marcb@surviveandthrive.biz
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