I am a marketing specialist who has always preferred added values over discounted pricing. I recently asked Laura McHale Holland, The Green Sheet's Assistant Vice President, Editorial, how the latest changes in the industry were being received.
She said, "It appears to be better for merchants and consumers because they're getting new options that increase flexibility and can be geared for their specific needs. ISOs are having to regroup and choose products and services that will give them a competitive edge in a market undergoing disruption. This involves significant adaptation and risk."
I agree. Having spent years helping ISOs develop and field test added values, I've found that ISOs usually stay with discounts. However, those who choose added values do better. This reminds me of a quote by Charles Darwin: "It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change."
Merchants are tired of hearing, "I can save you money; give me your last three statements." Still, many agents persist in this mode. To help payment businesses adapt, I put together 34 marketing tools that are free to merchants who sign up with my ISO/processor. I want to show potential ISO partners just how well these tools work. Do you have anyone to suggest? I'm at 512-368-0305.
Daniel Wadleigh, More New Customers
Proven marketing tools could be just the thing to make some merchant relationships sticky. However, we do not recommend potential business partners to our readers. That said, I do have some suggestions for you:
Is there a development in the payments biz that you'd like us to cover? Do you have questions you haven't been able to resolve in the ordinary course of business? What industry trends do you see on the horizon? We'd like to help. Get in touch with us via email at firstname.lastname@example.org. And please send your press releases to email@example.com.
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