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Table of Contents

Lead Story

The $7.25 billion settlement proposal: What you need to know

News

Industry Update

New happenings at The Green Sheet

Kate Gillespie
The Green Sheet Inc.

Websites under fire for urging settlement rejection

U.K. rejects payment council for regulator

Virtual currency getting real world attention

Lawsuit claims user authentication patent infringement

Selling Prepaid

Prepaid in brief

Mobile wallets not catching on, yet

Prepaid prescribed for financial health

Views

Fed report shows mobile adoption soaring

Patti Murphy
ProScribes Inc.

Bud break in payments

Brandes Elitch
CrossCheck Inc.

Education

Street SmartsSM:
Paperwork in the digital age

Dale S. Laszig
Castles Technology Co. Ltd.

PII is not your mother's PCI

Ross Federgreen
CSR

Brobot strikes again

Nicholas Cucci
Network Merchants Inc.

Take command of consumer end-point devices

Mustafa Shehabi
PayCube Inc.

Stand out by being true to yourself

Jeff Fortney
Clearent LLC

Company Profile

National Processing Co.

New Products

Pocket-sized mobile printers

SM-S220i, SM-T300i
Star Micronics America Inc.

Reaching out to Level III clients

ePNBillPay with Level III Enhanced Data
eProcessing Network LLC

Inspiration

Use your emotions, not vice versa

Features

Get your message out, socially

Departments

Readers Speak

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

April 22, 2013  •  Issue 13:04:02

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Get your message out, socially

For ISOs and merchant level salespeople (MLSs), it's easier to grow business through referrals than cold calls. A potential new merchant customer who was referred to you by someone he or she knows is more likely to listen to your pitch than a merchant who has no connection to you whatsoever.

The basis of referrals is just that: connections. You process for merchant A. Merchant B doesn't know you, but does know merchant A. Because of that connection, merchant B will hear you out. How bad can you be, after all? You know merchant A.

Now take that simple arithmetic and apply it to social media. Merchant A is on Facebook. That merchant wants to share great news: a new loyalty program is bringing in new business. Merchant B is friends with merchant A on Facebook and reads the post.

Suddenly, merchant B is interested in using that loyalty program, too. But so are merchants C, D and E, since they are all friends with merchant A. Suddenly, they are all interested in that loyalty program.

The virtual megaphone

It is the viral nature of social media that begs to be exploited by sellers. But if you are blogging and posting without tangible results, the problem may be that you are doing the online version of cold calling.

Telling the online community about your leadership role in payments and the innovative products you sell will likely fall on deaf ears. The secret, therefore, is not so much for ISOs and MLSs to promote themselves online, but to get others to do the promoting for them.

The easiest way to accomplish this is simply to ask merchants in your messaging that if they like the service offered, to post about it online. Happy merchants are eager to share their good stories about excellent service. All they might need is a reminder to do so.

Of course, this strategy will not be successful if you don't supply excellent products and service. Social media can be the greatest word-of-mouth marketing tool for your business - only you can't be the voice behind the megaphone.

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

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Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services