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Table of Contents

Lead Story

Winning the high-stakes holiday shuffle

News

Industry Update

New ROAM CEO focusing company

Happy complicated first birthday, Durbin

Visa, MasterCard settlement has support

A window into Global Payments

Trade Association News

Features

What you need to know before launching a new product

Marc Beauchamp
Performance Training Systems Inc.

A rewards app that 'burns'

Selling Prepaid

Prepaid in brief

MasterCard reloads with Western Union

How to drive a positive customer experience – and silence critics

Views

Is there a kiosk in your pocket?

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
Formal sales training or OJT?

Jeff Fortney
Clearent LLC

Fraud alert: Threat level rises

Nicholas Cucci
Network Merchants Inc.

Shifting to insight-selling

Dale S. Laszig
Castles Technology Co. Ltd.

Tighten merchant inventory control, boost the bottom line

Rick Berry
ABC Mobile Pay Inc.

Implementing 3-D Secure

Chandan Mukherjee
PayCube Inc.

Company Profile

Washington Bancard Merchant Services LLC

New Products

Next-gen POS doubles as fundraiser

V8 by Dejavoo Systems
Unified Payments LLC

E2EE protection for EMV, too

SAFE-T Suite
Elavon Inc.

Inspiration

Strategic honesty

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

October 22, 2012  •  Issue 12:10:02

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Shifting to insight-selling

By Dale S. Laszig

Emerging technology is not only changing our buying habits and the way we think about money; it is getting us to rethink the way we sell merchant services. In a Harvard Business Review article entitled "The End of Solution Sales" (July-August 2012, http://hbr.org/2012/07/the-end-of-solution-sales/ar/1), authors Brent Adamson, Matthew Dixon and Nicholas Toman suggested that with easy access to big data, "the celebrated 'solution sales rep' can be more of an annoyance than an asset." In fact, many business owners research payment processing systems before they meet with sales reps.

This could be a blessing or a curse. The authors said that while the new business environment can be challenging for the traditional solution-selling crowd, a new breed of "insight selling" professionals is getting great results.

Here are a few of their strategies:

Is solution selling really passé? Must we dismiss it entirely, or is this exercise designed to get us to look at a comfortable and familiar habit with fresh eyes? In her company blog post "Solution Selling Is Dead," Kelly Teal, Senior Editor of Channel Partners, suggested insight selling is not really a new concept and that effective sales professionals have been using variations of these techniques for years.

Periodically update your selling style

As Marc Beauchamp stated in How to Survive and Thrive in the Merchant Services Industry, the sales profession is always changing. "With the advent of the Internet, fierce competition, and the availability of information, merchants are much more sophisticated," Beauchamp wrote. "The extraordinary salesperson must have the ability to adapt and change strategy accordingly." In this new era, salespeople will work as a partners, consultants or counselors, Beauchamp noted, adding that partnership or consultative selling means salespeople must become actively engaged in their clients' businesses; in essence, they will work for their clients.

Keep it real

Authenticity is a core value of any successful sales professional. Not all successful MLSs are gregarious. In Good Selling!SM 2: Thirteen Weeks to Personal Success, Paul H. Green identified two types of successful sales professionals: "First, there are individuals who truly enjoy other people and have a natural ability to relate to other human beings on a one-on-one basis," he wrote. "Not all sales professionals can possess the same degree of common sense, tact, diplomacy, initiative, resourcefulness and other inborn qualities; and while those who do will make selling look more like 'art,' ... hard work also can lead to success.

"The second category is comprised of individuals who have no particular gift of gab but who are tenaciously set on learning all there is to know about their industry, their competition and their product or service." This knowledge and hard work can give this category an edge. While the demise of solution selling may be greatly exaggerated, it's a good idea to periodically review your methods for finding, selling and retaining merchant customers. Whatever approach you choose, be true to yourself. Your unique personality will always be your greatest asset.

Dale S. Laszig is Senior Vice President of Sales in the United States for Castles Technology Co. Ltd., a manufacturer and global provider of smart card, contactless and POS solutions. She can be reached at 973-930-0331 or dale_laszig@castech.com.tw.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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