10 Tips to Grow Your Merchant Services Business in 2020 As an ISO or Agent

Sales work always comes down to growth. While other aspects of business thrive on stability, you, like a shark, must move constantly to survive. As an ISO or a sales agent, finding ways to grow and improve keeps you going. These ten tips can help your growth curve surge in 2020.

1. Leverage Social Media

Social media thrives on connections—just like your sales career. You should put your social media presence to work for you. This means not only creating content, but following up and interacting to develop opportunities.

2. Plan Your Day and Week

Careening through your sales work can feel like the only way to operate in a constantly moving world. Building a plan, and following through, gives structure around the chaos. A strong plan keeps your focus and direction intact.

3. Learn More

The payment processing industry runs on frequently changing technology. Security demands and solutions shift over time, and there is always more to know. Keep yourself and your team educated to stay on top of trends and requirements.

4. Three More Calls

You need contacts to sell. If you think too big, it can be overwhelming. Instead of focusing on the world of opportunities, think about making three more calls every day. This gets you moving forward in a manageable growth mindset for your sales business.

5. Know Your Merchants

Sales don't all come from cold calls. Take the time to get to know the merchants you sign up. Some may have additional businesses, or friends in the business community to whom they can refer you. The depth of your contacts can be more important than the breadth.

6. Watch for New Businesses

New businesses emerge every day. These are opportunities for you to make an impression. You won't get all the business, and many will already have payment processing lined up. Contact them anyway.

7. Sales As a Process

Many merchants are not actively looking for a new service provider. Even if they are, the investment can be daunting. Take your time, and know that you may need several meetings to close. Be patient and persistent.

8. Know When to Push

Patience is a virtue until it is not. Even when you are taking your time, make your pitch and ask for the sale. You should keep the merchant focused on what you are offering.

9. Seek Referrals

Whether or not you close a sale, ask for others who may be looking. Some may need service, while others might not be satisfied. If you can gain new contacts from a merchant, that pushes you ahead of the game.

10. Take a Break

Occasionally, you need to recharge. Merchant sales is a high-pressure career. If you see signs of burnout approaching, step back a bit. It will serve you better in the long run.

As an ISO or sales agent, you should always look for ways to improve. Focus on a plan for 2020 that gives you an edge going forward.

Choose Nuvei as your merchant services partner. You’ll benefit from a wide range of payment technologies, diverse and rewarding revenue opportunities, and the entrepreneurial attitude designed to promote and advance your business’ success. Download our partnership guide to learn more.

10 Tips to Grow Your Merchant Services Business in 2020 As an ISO or Agent

About the Author

Gigi Beyene, SVP of Sales Channel Management

With Nuvei since 2007, as an expert in strategic channel development and partnership management, Gigi’s collaborative techniques and leadership have helped ISOs both launch and grow successful merchant portfolios.

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