Referral Network for Merchant Services

BUILDING A REFERRAL NETWORK

I. Merchant Account Referrals, Why?

Why Should I seek Merchant Services Referral Relationships?

• A referral program yields the best marketing investment possible.
• Unlike advertising and other marketing initiatives, results from a referral program can be easily tracked and verified.
• Referrals help reduce your marketing costs in times of economic uncertainty. Each time you receive a referral, your merchant is telling you that you’re doing a good job.
• Delighted merchants who become advocates are the best sales force a company can have.
• Each time a merchant gives you a referral, you have a chance to make them look like a hero.
• When you create a self-perpetual flow of referrals, you eliminate the anxiety of wondering where future business will come from, and you can be pickier about whom you take on as a merchant.
• Merchants reduce their risk of making a bad decision when they “buy” from referrals.
• A voice-mail message to a new prospect is most likely to be returned if it comes from a referral.
• A claim by a third party carries much more credibility than if you were to make the claim yourself.
• Prospects obtained through referrals give you fewer objections because they trust you more.
• Closing percentage skyrockets when your prospect is from a referring party.
• Growing a business through referrals is the most fun.

7 More Steps to developing referrals for Merchant Services.

1. Merchant Account Referrals, Why?
2. The ISO Agent Referral Flow
3. No Value, No Referrals
4. Seeding
5. Merchant Involvement
6. Rewarding Your Sources
7. Expanding Your Reach
8. Conclusion

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