Approaching a Merchant and Making a Presentation

2. Approaching a Merchant and Making a Presentation How to make the most of every merchant contact so you can close more deals © 2012 Banctek Solutions

3. Objectives and Agenda • Objectives • Learn different methods of approaching merchants • Learn ways to design and modify your presentation • Learn tips that will help make your presentations successful • Learn different things you can focus your presentation on • Agenda • Face-to-face techniques • Over-the-phone techniques • Internet techniques • Different lead-ins • Presentation tips • Different presentation focuses © 2012 Banctek Solutions

4. The Goal of the Approach and the Presentation The goal of the approach and the presentation is essentially the same – to get the merchant to sign with you. To refine things, the goal of the approach is to build a rapport with the merchant and lay the foundation for your presentation. The goal of the presentation is to gain a positive commitment from your merchant to do business together. © 2012 Banctek Solutions

5. Face-to-Face Techniques: Personal Presentation and What to Bring With You Being face-to-face with a merchant has some advantages over phone and Internet selling. One of the biggest advantages is the fact that you are in person. You can build a rapport better in person, as well as convey non-verbal cues, like body language, hand gestures and facial expressions. © 2012 Banctek Solutions

6. Face-to-Face Techniques: Personal Presentation and What to Bring With You Your appearance speaks loudly…and it speaks first. Some Sales Partners dress in business casual, while others prefer a suit and tie. Some people like to be comfortable and approachable and dress casual. Most of our Sales Partners agree that dressing in at least business casual is best. But remember your audience. Visiting a doctor’s or lawyer’s office might warrant a suit, but if you’re going to see an auto shop, jeans might be more appropriate. © 2012 Banctek Solutions

7. Face-to-Face Techniques: Personal Presentation and What to Bring With You Some Sales Partners carry a briefcase or folder with all the documentation they could possibly need to sign up a merchant account, plus marketing materials and business cards. This is best if you want to make a one-stop close. Some prefer to only carry marketing materials, and keep the rest in their car. If the deal is going well, they go out and get what they need. And still others take only their business card and set an appointment to come back later in the week to fill out paperwork. What you take is entirely up to you. It depends on your business model and the message you want to send to your merchants. © 2012 Banctek Solutions

8. Face-to-Face Benefits There are benefits of being face-to-face with a merchant: • You can see how busy the merchant is • You can see what kinds of products they are selling • You can see the terminal or POS device they’re using • You can look for other clues that will help you with your approach and presentation Let’s look at these a little more closely… © 2012 Banctek Solutions

9. Using the Merchant’s Products to Help Your Approach Some of our Sales Partners tie the merchant’s product mix into a compliment to lead into a sale. “Wow, this smells great. it would be perfect for my mom’s birthday coming up; she loves lilacs. Do you take credit cards? “Yes, we do.” “Fantastic. Say, how would you like to make more money on every candle you sell? My name’s Miss Smith. I’m from Banctek Solutions and I’m sure I can increase your bottom line by saving you money on your credit card processing.” In this example, our Sales Partner walked into a candle shop, which is why she started talking about candle scents. Obviously, you need to be sincere. If you’re not, the merchant will see right through you. © 2012 Banctek Solutions

10. Using Their POS Device Similar to the complimentary approach, this approach focuses on the terminal or POS device the merchant is using. If you see the terminal is old or outdated, turn that into an icebreaker. “I couldn’t help but notice that your terminal looks pretty outdated. When’s the last time you talked to someone about upgrading?” “Oh, probably about a year or two ago. It’s been a long time.” “Really? Well, I’m surprised to hear that. My name is Mr. Smith and I work with Banctek Solutions, a leading credit card processor. I would be happy to help you get a new, PCI compliant terminal, plus save you money on your processing.” Using the terminal as the conversation opener puts the Sales Partner in a position of helping the merchant, instead of selling to the merchant. © 2012 Banctek Solutions

11. Using Your Surroundings Things that are not directly related to credit card processing give you clues to what this merchant values and the kind of approach you should use. • Expensive office equipment: quality is important; lead with equipment or customer service, not cost • Glimpses into the merchant’s personal life: inquire about a hunting or fishing trip if you see prizes mounted on the wall; ask them about pictures or newspaper clippings featuring them © 2012 Banctek Solutions

12. Selling Over the Phone Since you don’t have the luxury of body language or surroundings to help you out over the phone, rely on the two most important things in phone selling: • Tone • Demeanor People can hear a smile, so SMILE. Keep the conversation upbeat and professional. Send the right message. © 2012 Banctek Solutions

13. Selling Over the Internet Internet selling has a couple of its own quirks. Email is a huge part of Internet selling; which means one-sided conversations. • Be aware of not just what you say, but HOW you say it • Stay away from jokes until you have a rapport built • If in doubt, take it out • Timeliness is your friend; be prompt and courteous in your responses © 2012 Banctek Solutions

14. Consultative Approach Using a consultative approach means you’re not selling to the merchant in the typical “sales-y” way. Consultative selling means that you are talking about ways the merchant can better their business, like by choosing the right merchant services provider. Consultative selling puts the merchant at ease and helps them understand the value of what you’re presenting. © 2012 Banctek Solutions

15. Market Researcher Approach When you use this approach, you position yourself as a market researcher in whatever field the merchant is in. If you’re calling a towing company for example, you can try something like: “Good afternoon. I am doing some market research about the use and cost of credit card processing in the towing industry. I have been working with a lot of companies in your industry, and I have seen some pretty high rates. Do you have your statement handy? I’ll review it quickly and see if I can help you get a better value for your dollar.” You can see this approach combines the consultative approach too (you’re helping the merchant). © 2012 Banctek Solutions

16. Direct Selling Approach In this approach, you are up front about the fact that you are there to sell. The Sales Partners who use this method say that the merchant knows what you’re doing there; there’s no reason to pretend otherwise. Some have found they can qualify the interest of merchants more quickly with this method. © 2012 Banctek Solutions

17. Doing a Little Research No matter what you use, research always helps. In fact, for over the phone selling, it can really increase your chances of success. Before you place a “real” sales call to a merchant, call a day or two ahead and get the name, direct phone number and schedule of the owner. This improves the likelihood that you will reach the decision maker when you call, and it makes it seem like you two know each other. © 2012 Banctek Solutions

18. Getting Past a Gatekeeper A couple of notes about the “gatekeeper”: • Usually secretaries, office managers, assistants, or spouses • They have the power to put you in touch with, or keep you away from, the right person • The key to dealing with a gatekeeper: RESPECT © 2012 Banctek Solutions

19. Getting Past a Gatekeeper Here are a couple of ways some of our most successful Sales Partners get past the gatekeeper. • Flattery: when the gatekeeper answers the phone, start talking to them like they are the decision maker • Avoidance: call before or after business hours. If someone is still in the office, it’s probably the owner • Direct Contact: start with the gatekeeper – they may be the person you need to talk to anyway (like in a doctor’s office) © 2012 Banctek Solutions

20. Leading with Value-Added Services Most Sales Partners automatically lead with credit card processing. But the merchant may have other needs too. Consider leading with gift and loyalty cards, a check services program, an ATM, or a cash advance. In this economy, merchants are way more likely to listen to an idea that involves them increasing sales or getting capital. © 2012 Banctek Solutions

21. Getting the Statement If your sales model has you get the merchant’s statement initially, there multiple ways to do it. Terminal “I can get you a brand new terminal. Why don’t you give me your last statement, and I’ll analyze it to see which terminal will be the best fit for you based on the way you run transactions.” Remember to set a follow-up appointment! Don’t leave without one! Cost-Savings “I’ll wait here while you grab your last statement. I’ll analyze it and come back tomorrow to show you what switching to Banctekwill mean for your wallet. Is tomorrow at 3:00pm or Friday at 1:00pm better for you? When you go back, sweeten the deal by showing how much money they’ll save. © 2012 Banctek Solutions

22. Approach Tips No matter what approach you use (and don’t be afraid to come up with your own), just remember the key and you will be fine: • Whatever you say has to open the door for you to make a presentation, so get creative Remember, people are buying you as much as they are your product, and they want to be comfortable with what they buy. © 2012 Banctek Solutions

23. More Approach Tips • Face-to-face: plan your route logically – visit nearby merchants on the same trip • Over the phone: schedule your day with blocks to make calls; have your phone numbers and notepad handy • Internet: make sure you have enough time to adequately answer emails and correspond with people • For all three methods: have enough time to finish what you start – don’t make your merchants feel rushed © 2012 Banctek Solutions

24. The Best Presentation How you make your presentation depends on you and your unique selling style. We’ll go over some specifics, but this much is always true: The best presenters LISTEN more than anything. Listening is more than just hearing; it means understanding what the merchant is saying, validating it and offering a solution. © 2012 Banctek Solutions

25. Asking Questions Asking questions is the best way to keep your merchant talking. Once you pick up on a key point, ask follow-up questions. You’ll get a clear idea of where you need to steer the presentation to close the deal. Start by talking to them in the context of the focus of your approach. For example, if you’re focusing on cost… This works best once you have the statement (so get the statement!). Don’t commit to a specific dollar amount; the reality might not be what you expected. “I think we can find a little more value for you somewhere. © 2012 Banctek Solutions

26. Follow-Up Questions Once you have your merchant talking, keep their lips moving! How long have you taken credit cards? How old is your equipment? How long have you been in business? What are the three things you wish your current provider would do differently or better? How is the customer service? What is your Rewards rate? Do you have a personal and/or local rep? What is your Business Card rate? © 2012 Banctek Solutions

27. Read Between the Lines Your merchant won’t always tell you everything up front. It’s your job to read between the lines and figure out what they really mean. Quick objections that blanket your presentation are usually covering the real concern – whether the merchant wants a new terminal, better service, better rates, etc. Once you know what the merchant’s needs are, you can present a workable solution. © 2012 Banctek Solutions

28. Cost-Focused Merchants You need to know all about their pricing, our pricing, and what that means for them (and for you). Here are some tips: • Use Banctek’sStatement Analysis Department • Don’t leave the analysis with the merchant or send it to them electronically • Use the opportunity to cross-sell other services (like gift cards, check services, and ATMs) © 2012 Banctek Solutions

29. Cost-Focused Merchants Try something like this to get the presentation rolling: “Mr. Merchant, I spent some time going over the statement you gave me. With that analysis, and based on our conversation, I am confident of the value you’ll find in switching your processing to Banctek…As you can see here, with this pricing structure, which I have designed specifically for your needs and your unique business, you will be saving approximately XX dollars per month.” © 2012 Banctek Solutions

30. Equipment-Focused Merchants You don’t have to rely on savings to close the deal when the merchant’s main concern is their equipment. Here are some tips: • Be familiar with Banctek’sfree terminal programs – knowing what you can do for the merchant is important. • Focus on the VALUE of what the merchant is getting, not the cost. • Find out what they like about their terminal and offer them something similar, but newer/better. • Bring product information sheets and marketing materials. • Be prepared to help the merchant decide between terminals when you offer multiple options. © 2012 Banctek Solutions

31. Equipment-Focused Merchants You can approach the equipment focus from the PCI compliance angle too. If you’re coming from the PCI angle: • Know your stuff about their terminal, what terminal you are suggesting, and what their merchant-level specific requirements are • Make sure the merchant’s aware of the consequences of non-compliance • Let them know about how Banctekhelps them with compliance (ask your ISO Support Representative for more info) © 2012 Banctek Solutions

32. Third Party Services-Focused Merchants You need a different approach for merchants who are content with their rates and their equipment. Focus on bringing additional value to their merchant services relationship, through third party services. You can offer: • Electronic check services • Gift/Loyalty card programs • ATMs • Cash Advances Offering these solutions through NAB benefits you because merchants have to switch their credit card processing too – giving you two revenue streams! © 2012 Banctek Solutions

33. Customer Service-Focused Merchants Merchants whose main concern is customer service need to be treated with a little extra care. They will be judging every service move you make, so make it count. Help them understand that they are Banctek’s(and your) biggest concern, that we are all dedicated to their satisfaction, and that we are an industry leader in customer service. © 2012 Banctek Solutions

34. Presentation Tips • First and foremost, BE HONEST. • If you don’t know an answer, find out • Under promise and over deliver • If your merchant is under the wrong impression, set the record straight • Create a sense of VALUE. • Value does not always mean saving money • Free terminal as value (the terminal is free to them, not to us) • Customer service as value (being able to get a hold of someone when you need them is like gold) • Merchant Return on Investment (ROI) is practically immediate • Use a prefilled application to show the value in reducing pre-set fees © 2012 Banctek Solutions

35. One-Stop Close? For most, a one-stop close is the goal. A one-stop close is when you get a commitment from the merchant (and signed paperwork) at your initial contact with them. If that is not in the cards for a particular merchant, or if that’s not your business model, make sure that you at least set another appointment before you leave. Don’t ask “When are you available?”; give them specific options: “Is A or B better for you?” © 2012 Banctek Solutions

36. Questions? If you have any questions about how to best approach and present to merchants, please contact your Support Representative. If you have any questions about any documentation, Agent Info Center resources, or general Banctekpolicies and procedures, please contact your ISO Support Representative or the ISO Support Team at 888.623.1633 x119 © 2012 Banctek Solutions