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Table of Contents

Lead Story

Getting a handle on interchange - Part 1

Patti Murphy and Dale S. Laszig

News

Industry Update

News Briefs

Features

Phone-number-change fraud on the rise

Views

Getting serious about fighting fraud

Patti Murphy
ProScribes Inc.

Trends to note in a time of rapid change

Brandes Elitch
CrossCheck Inc.

Making ETA Transact worth it for MLSs

Steven Feldshuh
Merchants

Education

Street SmartsSM:
Successfully recruiting experienced agents

Aaron Nasseh
Finical Inc.

Summer days drifting away to ... FAFSA forms?

Don Bush
Kount Inc.

Cyber-security for ISOs: The crossroads of law and security

Adam Atlas
Attorney at Law

Company Profile

Veratad Technologies LLC

New Products

Portable, cloud-based business management

Clover Flex
First Data Corp.

Virtual assistant uses AI for lead management, optimization

A.I. Assist
A.I. Assist

Inspiration

Making use of personality types

Departments

Letter from the editors

Readers Speak

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

July 10, 2017  •  Issue 17:07:01

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Street SmartsSM

Successfully recruiting experienced agents

By Aaron Nasseh

When I started my career in the payments space over a decade ago, I started as an agent/ISO recruiter. Within a few years, my colleagues and I were procuring 4,000 new applications per month from our recruiting efforts. Although my responsibilities have changed since that time, I am still very much involved in the recruiting efforts for my own company today. In this article, I will share tips that may help you with your efforts in recruiting qualified merchant level salespeople (MLSs).

There are many ways to recruit experienced agents; your methods will partly depend on your budget. Common methods include online marketing, social media engagement, placing ads in respected trade magazine such as The Green Sheet, attending tradeshows, and conducting email campaigns.

However, having consulted with a number of ISOs, I've noticed that many ISOs run pricing-focused marketing when seeking new MLS relationships. Sure, pricing is critical to potential agent partners, but the reality is that I can pick up the phone and call five ISOs and receive just about the same proposal from most, if not all of them. To successfully recruit experienced MLSs, you must offer more than just competitive pricing.

Determining factors

I've found that the top three determining factors for an agent seeking a new relationship are pricing, service and technology.

The why

While recruiting experienced MLSs is far more competitive than ever before, it can be a very profitable part of your business if done correctly. Considering that the first impression an agent forms about your organization is based on the initial phone call, it's imperative that you have experienced recruiters handling those calls. Many recruiters focus so much on pricing that they fail to ask the most basic question of potential agents, which is: Why are you seeking a new relationship? The answer will often provide everything you need to successfully address the concerns of the agent and form a new relationship.

A good recruiter knows that not all agents have the same needs. I can't tell you how many times I have signed up agents at less favorable pricing than they previously had simply because my company was able to address their servicing needs. Those MLSs valued quality of service more so than a few extra bucks. A good recruiter helps agents assess the overall value of the partnership, not just the numbers on the paper.

If you take only one thing away from this article, let it be to listen, understand and address the needs of potential agents, and you will sign up more partnerships than you ever could by discussing pricing.

Aaron Nasseh is the founder and Chief Executive Officer at Finical Inc. His extensive sales and management experience includes having previously served as the General Manager of CardPayment Solutions and Vice President of Sales at iPayment Inc. He may be reached at anasseh@finicalinc.com or at 818-330-4055.

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

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