As seen in Green Sheet

AI Overview 

As seen in Green Sheet: Payments MLS Sales Strategy

🎯 Street Smarts: Sell Like a Boss

By Allen Kopelman – Nationwide Payment Systems Inc.

When we started our ISO, we built relationships by knocking on doors and networking like crazy. Twenty-five years later, we’re still promoting our brand, but today, most of the work is done virtually. Zoom meetings are the new handshake, allowing us to build rapport by sharing screens and making eye contact.

Success in today’s crowded market requires a strategic shift from selling generic processing to selling technology and value.

sponsored by

⏰ Time Management: Respect Their Clock

Time remains the biggest challenge for merchants, who are often understaffed. A request for a follow-up meeting is often a necessity, not just a stall.

• Be Flexible: I am not above scheduling a follow-up, even though I love a one-call close.

• Ask for Preferences: Always ask prospects if they prefer an email, call, or text. You’ll never know their preference unless you ask.

👔 Image Management: Walk Your Talk

As financial service professionals, our image directly impacts our credibility and trust.

• Ditch the Generic: One of my pet peeves is seeing a generic email address on an MLS’s business card. Use a personal website and a dot.com email to boost professionalism.

• Be Present: Look professional, have a one-minute pitch memorized, and be active in your community and professional networking groups beyond simple door-to-door selling.

📊 Pipeline Management: Follow the AI

Lead generation is a major hurdle, with traditional advertising being expensive and cold email blasts often blocked by AI spam filters.

• New Search Channels: We need to meet our prospects where they search. Many have moved from traditional search engines like Google to AI agents like ChatGPT, Perplexity, Grok, and Copilot.

• Avoid Bans: AI-powered robotic messaging is also getting banned on LinkedIn. Focus on authentic engagement.

💻 Back Office Optimization: Go Paperless

The most efficient, industry-leading ISOs and service providers are paperless. We must emulate the sign-up processes of major fintechs.

• Online Apps: Trade paper applications for online apps that are fast and simple.

• Pre-Populate: Pre-populate the application with name, email, phone, business name, and pricing, and then let the merchant fill out the rest, or provide a link for them to complete it online.

🚀 Brand Positioning: Sell Technology, Not Price

In this mature and crowded payments ecosystem, MLSs who continue to sell payment processing are in a race to the bottom.

• The Key to Success: Success belongs to those who leverage technology.

• Clear Strategy: It is critical to create a strategy and amplify it with clear and coherent messaging.

• Product vs. Processing: Our major competitors are selling products, not processing, and their customers aren’t chewing them down on price because they want the technology.

🧠 Work Smarter: Focus Your Selling

Fine-tuning your approach to the specific situation ensures success.

• Refine Your Focus: Figure out what you’re going to sell and how, and build your business around a few core products.

• Ask the Right Questions: When searching for partners, instead of asking companies about their Schedule A (pricing), ask about their technology for a change.

🗣️ Be Authentic: The Human Element

Lose the canned pitch and strive to be authentic and in the moment.

• Practice, Don’t Polish: Practice your presentation to avoid looking too perfect or polished. If you flub a presentation, you’ll gain trust and empathy by showing that you’re human.

• Tailor the Pitch: Some prospects are auditory learners and others are visual. Adapt your presentation to suit their learning style.

• Follow Up Reliably: People expect to be contacted after a presentation, so follow up with a note, text, email, or call, using their preferred channel.

“Coffee is for closers.”

While the pressure to close is real, and the goal of closing is the same every time, each deal is unique. That’s the beauty of selling.

I still hear the word “no” every day. It’s music to my ears because it lets me know that people are listening, and every single no gets me that much closer to a yes.

Want to know more? Keep reading The Green Sheet and consider following me on LinkedIn: www.linkedin.com/in/allenkopelman/, where we can share ideas and support each other.

As seen in Green Sheet

FAQ: Frequently Asked Questions