1. Join the right ISO Agent Program

This is the single most important factor in succeeding in merchant services sales. You need to work with a company that will not only support you but will also deliver on their promises to you and your clients. When selecting an ISO Agent program, consider factors beyond just commissions. Look for programs that offer comprehensive training, cutting-edge technology, and a wide range of payment solutions to meet diverse merchant needs. The best programs provide ongoing support, marketing resources, and tools to help you succeed in the competitive world of merchant services.

To evaluate potential partners, look the company up on the BBB, Rip-off report, and www.cardpaymentoptions.com. If they have bad ratings, it is for a reason. They either do not deliver on their promises to the client, the merchant services sales agent, or both. Remember, your success in selling merchant services largely depends on the quality of products and support your ISO partner provides, so choose wisely to set a strong foundation for your career. We have one of the top-rated ISO Agent programs in the country. We encourage you to explore your options and compare programs, but we're confident you'll find our approach stands out in the merchant services industry.

2. Learn your product

Working as a merchant services sales agent is very competitive. You need to make sure that you have as much knowledge as possible when you hit the field. To excel in selling merchant services, you must become an expert in your product offerings. This means understanding not just the features of your payment processing solutions, but also how they benefit different types of businesses.

You can learn most of what you need to know through your ISO Agent program training portal or from your manager at your ISO. Stay informed about industry trends, such as the shift towards contactless payments and integrated POS systems. If you ask your manager a question and they don't know the answer then that is a red flag that you are not working for the right company. 

Regularly practice explaining complex merchant services concepts in simple terms to enhance your sales pitch. Learn as much as you can and never stop learning. The merchant services industry is changing rapidly and you need to keep up to date to compete.

3. Set a schedule for yourself

One of the more difficult parts of working as an independent sales agent in the merchant services field is taking responsibility for your daily actions. You are your own boss and your success is 100% dictated by your schedule. Write it up daily and stick to it. For example: From 8-10 am cold call over the phone, from 10 am to 2 pm cold call in the field, have an appointment set for 2:30 every day, then finish your day following up with old clients. 

If you do not plan your day, you may get caught up in one activity, leading to wasted time and missed opportunities. In the fast-paced world of selling merchant services, managing your time well is essential. By sticking to a schedule that works for you, you'll create a routine that helps you succeed and allows you to take advantage of sales opportunities as they come up.

4. Referrals Referrals Referrals

This is the single most important way you can grow your business. Cold calling is tough, and there's no way around it. You have to do it at the beginning of your career - but you won't have to do it forever. To build your sales, you need to set a pattern for how you interact and follow up with clients to maximize referrals. 

First, when signing up a new client, set the expectation that you will return for referrals after you prove your value to them. Second, after your client has been with you for a full month, conduct a reverse cost comparison to show them the savings you've generated. Finally, bring this cost comparison to them and ask for specific referrals. Instead of asking who they know, inquire about specific people in their network, such as their doctor, veterinarian, or mechanic. This approach helps to gather valuable leads and grow your merchant services business effectively.

Mastering merchant services sales is about implementing these four critical strategies consistently. By choosing the right ISO program, continuously learning, maintaining a disciplined schedule, and prioritizing referrals, you can transform your career and achieve significant success in this competitive field.

Ready to take the next step? Learn more about our top-rated ISO Agent program and discover how we can help you excel in merchant services sales. Your path to a six-figure income starts here.