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Education

2. Installs/activations If you run a large organization, you certainly want to assign metrics to each
3. Pending merchant appli- department such as sales, operations, risk, marketing, recruiting, accounting,
cations etc.
4. Sales pipeline What gets measured gets done

Monthly lagging indicators Each department leader can easily give you three to five metrics each week.
That will give you the information you need to take the pulse of the business.
1. Total active merchants versus. Every department has a number, every department can be measured, and every
year over year (YOY) department must be responsible for its individual KPI or scorecard.
2. Cost of acquisition (the cost of Regardless of business size, you have no excuse not to use a CRM. Many
acquiring a new merchant) affordable CRMs are on the market, for example, Pipedrive, Hubspot, Highrise
3. Total attrition (closed ac- and Zoho. There are also industry specific CRMs, like IRIS, Instant Quote Tool
counts) versus YOY and Clientvine, that help analyze merchant statements and prepare proposals.
4. Merchant approval rates An amazing thing happens when you install accountability within an
organization. Stuff gets done. Accountability begins with clear communication
5. Average income per merchant and expectations. You cannot get any clearer than a number that your team
versus YOY leaders are required to provide daily or weekly. This creates an environment of
6. Average BPS earned versus clarity and commitment throughout the organization.
YOY
7. Total processing volume ver- Your job as the leader is to set the expectations, communicate them and keep
sus YOY people accountable.
8. Residual income versus YOY Marc Beauchamp is author of Survive and Thrive in the Merchant Services Industry and founder
of Bankcard Life, a community for payments professionals. He is offering a free copy of his book
9. Total bonus income versus last to all payments professionals at www.bankcardlife.com/greensheet. Marc welcomes your com-
month versus YOY ments and feedback at marcb@surviveandthrive.biz.
10. Your profit and loss versus
YOY (revenue, cash flow, prof-
it, etc.)
REIMAGINE THE ART OF USAEPAY.COM
Quarterly review 866-570-2051

1. 90-day target review and out- TRANSACTION
MOBILEOBILE
comes RETAIL E-COMMERCE M
2. Quarter-over-quarter growth
3. New targets set for coming 90
days
KPIs vary by business

Naturally, KPIs will vary based
on your business model. If you are
running an inside sales team, you
will want to track more information
on call activity. Maybe you have
multiple distribution channels, like
direct, partner and inside sales,
then you would create KPIs for each
channel.

If you are single agent in the field,
is this overkill? It might be. Maybe
you'll want to focus on three to five
core KPIs initially. In any case, if you
want to expand the business, you
must know these numbers.

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