Six Proven Strategies to Help Value-Added Resellers Increase Sales

Many merchants want to adopt the latest POS devices that enable them to handle various transactions and harness the informational power modern systems provide. However, there is also plenty of competition in the payments space, and having a solid base of sales strategies is crucial to set yourself apart from the rest.

While your primary goal may be selling POS platforms and terminals, it is crucial to recognize that the best resellers provide services beyond hardware. Therefore, you need to identify your ideal customer, what problems they need solving, and the benefits your solutions can bring their business, all while pitching a clear sales message.

Merchants Buy Benefits

Most merchants are not in the market to purchase products – they want to buy the solutions to their problems. So instead of solely focusing on hardware, VARs should concentrate on getting merchants hooked on the benefits of point-of-sale data and other features that offer value and increase sales.

An example of providing additional benefits would be to offer demos and walk a customer through available features like setting up a scheduling application within the point-of-sale system or showing them how a loyalty program will increase sales. Focus on each benefit at a time, make it easy for them, and get them hooked on it.

Identify Your Customer and their Needs

Finding new customers to buy your products or services is integral to sales but can often be daunting. First, it is essential to find out who your target audience is. As stated above, merchants buy benefits and results, not necessarily products, so start by identifying your ideal customer. In an article by WebStrategiesInc., “When buyers have a few objections, and you can satisfy them, your success rate is 64%.” Potential customers may turn down your initial sales pitch, but you can overcome those objections and seal the deal.

Make a list of all the benefits that your customers would enjoy while using each product and your services. Then, ask specific questions such as: Do they have a budget? Do they have multiple locations? When are they planning to implement it? What is driving their decision?

Knowing the factors that are driving decisions is crucial. Finding out the problems that potential customers are attempting to solve is the next important step after identifying your target customers. Since issues come in all shapes and sizes, you should be proactive and prepared for the potential problems a merchant may present.

Use Content and Social Media Marketing

There are more ways now than ever before to get your products seen directly by the customer. With people constantly on their phones, social media and content marketing are two important tools to increase your access to customers and solidify yourself as a subject matter expert in the payments industry.

The best part? They’re all essentially free to use. By building relationships through Facebook, Twitter, LinkedIn, YouTube, or even a blog, you can communicate in more ways than one and create better access to yourself for your customers. In addition, with content and social media marketing, there is more access to qualified leads, more channels to sell products, and lower costs to acquire customers.

Use Proper Negotiation Techniques

A skilled negotiator is concerned with finding the right solution or product that satisfies both parties involved, reseller AND merchant. They are looking for “win-win” scenarios where everyone comes out of the deal feeling successful. To be an effective negotiator, you need to ask the right questions, be patient, and be prepared.

Keep the Customer for Life

The relationship with the customer continues even after they have signed the contract. The end game is all about creating customer loyalty. VARs need to put in a lot of face time, showing customers how to optimize their payment technology. Follow up with your merchants every two to three weeks to let them know how much you value their business and, as a trusted advisor, someone they can lean on and consult. Focusing on keeping a solid relationship will not only create more trust, but it will also add value to the services you offer.

Have a Clear Sales Message

Gather information, define your value proposition, and prepare suitable materials to give your potential customers the most meaningful message. Be specific and talk about what you can offer beyond the products. Create a few different sales pitches tailored to a variety of customers. Make it clear what your product is and how it will benefit them and their business.

Selling POS devices requires understanding the various challenges that retailers, restaurants, and other business owners face. Knowing how your products can address these challenges helps win a sale and makes the reseller look like a thought leader and a trusted advisor. In addition, these strategies help increase sales and keep customers loyal and satisfied.

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