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Table of Contents

Lead Story

The (tech)tonic shift in payments

News

Industry Update

AmEx defends merchant pricing in court

Recess appointment rebuke raises CFPB debate

Trustwave, First Data team for 'inside-out' security

Features

Striving to be the best place for ISOs worldwide

SDK for ISVs

Views

Visa gets practical to further data security

Ken Musante
Eureka Payments LLC

Education

Street SmartsSM:
Are You Selling Or Telling? - Part 2: Perception is reality

Tom Waters and Ben Abel
Bank Associates Merchant Services

Preparing for EMV migration

Chandan Mukherjee
PayCube Inc.

How can the FTC freeze personal and business assets without a hearing?

Michael Thurman
Thurman Legal

Working from home

Vicki M. Daughdrill
Small Business Resources LLC

Company Profile

Leaf

Pivotal Payments

New Products

Easing into EMV

VIABLE
Vantiv Inc

Franchise POS system

Bevo Charisma
Benseron Information Technologies Inc.

Inspiration

Midyear performance check

Departments

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

July 28, 2014  •  Issue 14:07:02

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Inspiration

Midyear performance check

Many payment professionals find midsummer to be an excellent time to assess how well their teams are doing. Typically, they find some merchant level salespeople (MLSs) have fared well so far, while others have little to show for their efforts for the year to date. Luckily, with a little bit of effort, you can inspire most in the latter group to perform like the sales stars in the former group, and you can do so before the year is over.

Core competencies

To get results, MLSs need to master and consistently apply certain core competencies, but not everyone is able to do this without assistance. After you've identified those who lag behind, focus on encouraging behaviors and actions that will improve performance. Yes, coaching takes a chunk of time, but the rewards can be dramatic. Analysts estimate that in most cases, team members' revenue doubles as a direct result of coaching.

To help each player understand the importance of practicing core competencies until they become second nature, illustrate proven techniques and underscore how each contributes to the overall picture.

Effective coaching

Using software that tracks the average number of calls, emails, meetings and other measures of success, you can help guide low-level players to replicate positive behaviors. For example, an MLS who is willing to put in the extra effort could set as a goal to increase calls, emails and meetings by 10 percent each week and then meet with you periodically to monitor progress.

Another area in which coaching can improve performance is to encourage underperformers to slow down and listen to the true needs of customers, something their more successful counterparts are already doing. You can also train MLSs to think like the buyer in every situation to close sales with less friction.

Finally, never overload your team with too much information. Mastery is attained in stages. Once you have identified an MLS's strengths and weaknesses, work to improve performance.

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 | USAePay | Super G Capital LLC | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems