Selling the Straight Line Method

Selling the Straight Line Method

Experienced sale agents use the Straight Line Method to help sell more effectively. The technique typically is not a one size that fits all, it is often adjusted through trial and error based on past experiences. The straight line method, focuses on the shortest distance between any two points is a straight line.  In selling you are trying to take a customer from point A to point B and get them to buy. Without knowing where you are going, you can find yourself taking steps that could lead you away from closing the sale. Make sure you keep focused on your purpose during each step in the sales process.

The Straight Line Method Steps:

Straight Line Method in Merchant Processing

Meet and greet

Every encounter in sales you have seconds to establish three things that will make it or break the sale. What you say and how your greet them; will determine whether your prospect wants to continue the conversation.  You want to appear an expert in your field; knowing their industry, understand products and services, and the competition. We want to show the merchant that we are worth listening to. 

Create rapport with the customer

People want to buy from people, not companies. Creating a personal connection builds rapport and trust. Rapport building is about high lighting common interests and establishing a mutual feeling of friendliness. When people like each other whether in business or in a friendship, they tend to help each other.  It is a fact people buy from people they like.  It is equally important you ask questions. Structure your questions with the aspects of your product or service that will appeal most to the merchant to help build the rapport. This is when you bring up to reason why you are there by stating your intentions.

Stating your intentions

Asking questions to understand the customers’ needs

Structure your questions with the aspects of your product or service, which will appeal most to the merchant.  If you don’t understand their needs, you will have a difficult time positioning your products or services as the ideal solution. Asking questions about their current issues, can allow you to quickly pick up on any challenges they may be facing.  

If they tell you exactly what they want, then you know what to offer them as a solution. Plus, if a customer starts to visualize you have a solution, they have already began to imagine working with you. You’re now ready for the transition saying “based on everything you just told me, it sounds this is a perfect fit for you.”

Asking for the Merchant Statements

The initial goal here is to forward their statements to us, because that allows us to engage the merchant in our sales process.  

  • “What I’d like to do is forward your statement over to my rate specialist to see what we can get you approved for in terms of pricing. They’ll be able to outline every penny that is going out on the different card types.”

GIVING A SHORT PRESENTATION

After you have forwarded their full merchant statements, we will respond within 10 to 15 minutes with a comparison where they are today, and what we can do for them.  It will be up to you to bridge them how to get there. This is a good time to show a short video on the products they are interested in. Plus, discuss how our customer service is the best in the industry. 

Being enthusiastic and knowledgeable about the products and services is good; do not ramble on during your presentation. If you do, the merchant will start to lose interest. It is important to keep your presentation as short as possible, focusing on the most critical aspects of your offering. A good rule of thumb: Keep it short and simple!

Straight Line Method in Merchant Processing

Straight Line Method Deflecting objections

Objections are OK. They tell you what additional information the merchant needs in order to be ready to make a decision. When you encounter any resistance; first validate the concern, then isolate the objection. “Is that the only thing holding you back from moving forward? Then a quick, short rebuttal should be all that is needed. Then direct them back to the application.

Closing the sale

You should have a list of everything your prospect is looking for and a matching benefit our solution offers. Your goal will is establishing a logical case and emotional case for buying now. “Nothing will change for until your new chip compliant terminal is delivered.  The application process just takes a few minutes and all I will need from you is a copy of your ID and voided check where you would like your funds deposited.  Look down at the application with pen in hand and be quiet.  Asking what’s the legal name of your business? 

The golden rule in sales is simple: after a closing question is asked, the first person who talks loses. In other words, if you’ve earned the right for their business, ask for the sale then say nothing.

Straight Line Method in Merchant Processing

Make a customer for life.

The secret to creating a customer for life is very simple rule treat people how you want to be treated, and going the extra mile for them. It goes without saying that the best way to keep customers is to give a great experience. Send them an email that acknowledges and thanks them after you submit their application; be there for when their terminal is activated.  Remember birthdays, anniversaries and other special events.

One of the bases for all of your success is asking for referrals, focusing on building your book of business.  Perhaps you could refer your client to another who would benefit from something that your client offers. Whatever the case, when you give referrals, people will often feel compelled to return the favor. If your customer is happy with your service, ask them to write a review about your company, or refer your service to others. Customers may be flattered that you think of them as an important customer and trust them to give you a review.

There is no magic to this; it takes energy and effort on your end.  The more businesses you approach, the more you will sell, the more $$ you will make. You want to be wealthy there is no other profession that can give you the freedom to earn virtually an unlimited income. Attorneys and Doctors can generate nice six figure incomes, but salespeople can do even better. The success formula is really simple: work smart, work hard and sell easy.

 

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