Five Tips for Successful Point-of-Sale (POS) Resellers

With payment technology continuing to advance and consumer demands at an all-time high, successful point-of-sale resellers have to grow with the industry and within their target markets. POS resellers who truly want to their merchants to succeed, understand their wants and needs better than they do, and explore the best possible solutions that bring efficiency and profitability to them.

While the bottom line for resellers is to sell POS platforms and card readers, it is important to recognize that the services they provide go well beyond the physical hardware. A combination of industry and product knowledge with smart sales prowess will make for the most successful resellers.

Here are some tips to accomplish these goals and to advance your presence:

1. Put the Customer First

Good resellers have retained extensive knowledge on the products and solutions that they offer. However, the BEST resellers, have a thorough understanding of the customers’ evolving needs. Most small to mid-size business owners have not done that much research, so they tend to feel overwhelmed by the sheer mass of available technologies. This is where resellers come in. Resellers can help navigate the voices and provide insight to guide them towards the solution that best meets their needs and requirements. The value that a POS reseller brings to the buying decision is the ability to consult with the merchant and their specific market and customize a solution that will help grow their business.

2. Develop New Skills

A truly successful reseller needs to keep learning. Not only is it a good idea to stay current on the latest technologies and products, but it is also important to keep up with trends related to different target markets. Research the current trends and develop the best business practices for your customers’ niches and get a tight grasp on them. This ensures that you will be able to help them make the best choices when it comes to payment technologies for their business.

3. Minimize Buyers’ Risks

Though finding the best solution for customers is the end goal, it is also important to help them with the way that solution is delivery, updated, maintained, and billed. For example, a business owner may be uncomfortable with the initial upfront cost required with a new POS system, so offer them another alternative such as Hardware as a Service (HaaS) Merchants need more than a one-trick pony, they need a reliable partner. Establishing trust is what drives ongoing customer relationships.

4. Listen and Collaborate

Before you start offering products or services to a customer, you need to first consult with them and find out exactly what their business needs. Ask them the right questions to get down to the bottom of their problems. What are their pain points? What are their priorities? Do they need to generate repeat business? Do they want mobility? Once you have established a strong understanding of the buyer profile, you can then help to incorporate a payment solution that addresses those challenges. For example, a small boutique shop may have trouble counting inventory, which is where a solution with inventory management comes in handy. Determine their biggest needs and work to address those issues first.

5. Grow Your Accounts

Making a customers’ business grow is what makes a resellers business grow. Focus on how you can benefit a business owner, not just on how you can sell them a product. Those benefits that you offer them are what will help the business to flourish. Offer solutions that truly enhance your target clients businesses. When they do well, they are able to expand, which means they will keep coming back to you for the value that you have already provided. Not only does this help resellers maintain current client relationships, but happy customers are the best source for referrals.

The best and most successful resellers will put the customer first and display a customer service mentality. Take the time to truly explore the needs of the various merchant markets out there and look for solutions that provide them with the tools they need to grow their business and stay on par with their competition. Gaining more sales is always desirable but maintaining long-lasting customer relationships will create a better reputation for resellers and offer more room for referrals to new clients.

This article originally appeared here: 5 Tips for Successful Point-of-Sale (POS) Resellers