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Lead Story

This event is brought to you by: Insert your company name


Industry Update

Supreme Court upholds AmEx's merchant contract

Authentify xFA renders passwords obsolete

Mobile user desires universal, First Data finds

Check usage survey reveals key behavioral insight

Selling Prepaid

Prepaid in brief

Gift cards remain a strong product category

Gift card issuers face new accounting standards


With prepaid debit gains, it's a mixed bag

Patti Murphy
ProScribes Inc.

Maintaining equilibrium in acquiring

Ken Musante
Eureka Payments LLC


Street SmartsSM:
Smooth apperators

Dale S. Laszig
Castles Technology Co. Ltd.

How consumer demands and biller priorities align

Eric Leiserson

Making a Square peg fit a triangle mold

Steve Norell
US Merchant Services Inc.

POS attacks on the rise

Nicholas Cucci
Network Merchants Inc.

The mix moves the message

Nancy Drexler
Acquired Marketing

Company Profile

Plug n Pay Technologies Inc.

New Products

Docking station for secure checkout

USA ePay

Online value-add for merchant portfolios

Real Local Pages ISO program
Real Local Pages


Checkup for the road ahead


Merchant selling in the connected age


Readers Speak

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

July 22, 2013  •  Issue 13:07:02

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Checkup for the road ahead

There are no speed limits on the road to excellence.
- David Johnson

Much like a vehicle tuneup in preparation for a summer road trip, a midyear goals assessment is par for the course for payment professionals. As we turn the corner and enter the final stretch of 2013, now is the time to check under the hood and thoroughly analyze the status of sales goals set earlier in the year. Doing so makes it possible to fine tune the sales machine to ensure optimum performance so that all goals are ultimately met.

To accomplish this, start by pulling sales data for the past six months. If sales revenue has not yet reached 50 percent of your target goal for this year, don't fret. The midyear inspection will reveal any flaws in the system. It will also indicate which merchants in your portfolio are producing the best results.

Top to bottom inspection

The next step is to divide merchants into segments for closer inspection. Working from top to bottom, examine merchants ranked in the top third for revenue generated. What are the common denominators? Are there certain market niches that have taken off recently? For accounts that have consistently performed well, what factors have made this possible?

A complete analysis will answer these critical questions, so you can focus energy where it counts most. Recognizing successful patterns in your top group can be used to boost performance in underachieving portfolio segments as well.

Repeat this exercise with middle-ranked merchants in your portfolio. The midsection may reveal minor weaknesses that could be improved with only slight adjustments. Identify midsection merchants who might be on the verge of breaking into the top tier. Plan to interact with these merchants to determine whether equipment or value-added services might help propel their sales in ways that will benefit their businesses and yours.

Plotting the course

Finally, review bottom-tier merchants to see what they have in common. Are a majority of them new businesses? If so, more interaction may be necessary to guide them as they get established. On the other hand, if certain merchants in this group repeatedly lag in sales, a more pernicious problem may exist. Further assessment will reveal whether such merchants might be at risk of going out of business. Attrition could also be a looming problem. After completing the midyear inspection, adjust your sales strategies to gain maximum performance from your portfolio. Then look forward to finishing the year at or above your targeted goals.

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

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