M
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merchantservicesguy

SAE

Fire Starter
Good Citizen

Merchant Services Cold Outreach Struggle

Merchant services is the hardest thing I've had to sell. 

We source tons of different solutions in the payments world that make nearly every vertical our market. 

But no one wants to hear it. Frankly, I've been told is usually the most declined call merchants receive. 

I do cold outreach daily as I love in a suburban area. Any Advice?
🧠 Advice
🌐 Fintech
😎 Sales Skills
8

20 comments

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braintank
Politicker
5
Enterprise Account Executive
What's your script?
CuriousFox
WR Officer
3
🦊
Yeah tell us what you're saying. Maybe we can help ya tighten it up.
merchantservicesguy
Fire Starter
0
SAE
I guess my typical cold dial would be : “Hey (name) … my name is (xyz guy) and I am a local rep on for (company). We specialize in merchant services consulting for small businesses all the way up to enterprise size. I’d love to stop by sometime this week and see how (company) can fit In your business.



(Now that I type this out, I see it is fucking garbage). Roast me. Please.
braintank
Politicker
4
Enterprise Account Executive
Admittedly I'm not familiar with "merchant services" (assume it's something like payment terminals for retail/restaurant).

But yeah, that's a pretty lame opener.

For comparison -- here's my script:

Hey {{{NAME}}}, this is brain_tank from XYZ. Have you heard our name tossed around?

I know you didn't expect me to call your today. Do you mind if I take a few seconds to tell you why I'm calling and you can let me know if it make sense for us to speak.

We work with security teams at {{{like companies}}}.

Typically they tell us they're:
Pain 1
Pain 2
Pain 3

Would you be open to speaking with me when I'm not cold calling you out of the blue?

Do you have your calendar handy?
merchantservicesguy
Fire Starter
0
SAE
Much much appreciated. Thank you
merchantservicesguy
Fire Starter
0
SAE
And yes it’s payment processing softwares and terminals etc
merchantservicesguy
Fire Starter
1
SAE
Dude I just copy and pasted this and set a huge meeting with a multi loco liquor store
braintank
Politicker
2
Enterprise Account Executive
I'll take 10% ;)
diet75
Big Shot
1
Enterprise AE
i mean i wouldn't go straight to "fucking garbage" but no one gives a shit about you or your company until they find out if you can help them.
Pachacuti
Politicker
4
They call me Daddy, Sales Daddy
Do you focus on a specific niche?

I have sold payments before but just to a specific niche and did well. But if you’re trying to sell to everyone that can be tough.

merchantservicesguy
Fire Starter
1
SAE
I’m kinda bouncing around between verticals, maybe I should stick to just one. Where did you have success?
Pachacuti
Politicker
1
They call me Daddy, Sales Daddy
My company focused on just a single vertical (well, two but they are closely related).

Go deep into a couple niches and then you can use your book of business as a reference to get other deals.
jefe
Arsonist
2
🍁
I got my start in that world ~11 years ago. It's a grind for sure.

Definitely a numbers game too.
merchantservicesguy
Fire Starter
1
SAE
Any advice is appreciated. I didn’t go to college, so this seems like all I’ve got. I was handed what seemed like a good opportunity but the draw has run out and it’s 100% commission based.
jefe
Arsonist
0
🍁
Honestly it feels like a lifetime ago.. So much of it was volume, asking some questions and focusing less on individual stores where you had to hope to get a DM.
Gasty
Notable Contributor
1
War Room Community Manager
like Janitorial service n all? @merchantservicesguy
merchantservicesguy
Fire Starter
1
SAE
Quite literally, everything. From cam sites to church coffee shops.
Kosta_Konfucius
Politicker
1
Sales Rep
How many inbounds do you get, you can limit outreach if you get a ton
merchantservicesguy
Fire Starter
1
SAE
We’re just starting to rise above being a “start up”, inbound, zero. Some guys have pretty good partners who kick them deals on the regular. I personally have none. We also do next to no marketing.
antiASKHOLE
Tycoon
1
Bravado's Resident Asshole
There are several useful comments on here. I would look at remaking your script and find what fits your personality.

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