Selling Payment Solutions – a sales question for every week of the year
by Gert Scholts, sales coach and cards sales expert
My first boss told me once: ‘Gert, the best sales information is securely locked in our customer’s or prospect’s head ’.
Over the years I have found this so true. Whatever we think or project, customers have their own reasons for buying our products or services. We may think that, particularly in card payments, customers are primarily after low costs or rates. I have learned that is far from the truth. Sometimes their reasons are rational and often they carry emotional drivers too.
I believe that, as salespeople, our job is to discover and understand these reasons. They will help shift our sales approach from product focus to customer focus. Customer’s needs should be in the centre of our sales conversations.
Here are 52 questions, in no order, that can be used to uncover these reasons:
- How do you believe our range of payment solutions could help your organisation? (assuming they asked for the meeting)
- (When booked by you) Thanks for agreeing to meet today. I suggest we find out about our companies and see how we can benefit from a relationship. Is that ok?
- What would you see as the best possible outcome from a payments solution perspective?
- Can you tell me more about your role in the company?
- Why do customers buy your products?
- What is different about your organisation?
- Where would payments solutions fit with your role?
- What goals are you responsible for?
- How does a card solution fit with the key business priorities this year?
- Why are these the key priorities ?
- Can you walk me through the card payments process as it looks today?
- What do you feel is the most critical stage in that process?
- What problems are you trying to solve?
- What do you think is causing the challenges ?
- How are customers affected by the lack of frictionless payments mechanisms now?
- How are staff affected by the high level of manual reconciliations?
- Why are you looking at solving this problem now?
- Why has the business not been able to do anything about that problem before now?
- What are the knock-on effects if you don’t solve this problem?
- How do these knock-on effects impact you personally?
- What would it mean for you personally if you managed to solve the problem of shopping cart abandonment ?
- In an ideal world, what would you want to be doing about this?
- What other solutions or payment products have you looked at?
- What did you like about those other solutions?
- What did you feel those other solutions were missing?
- What would you say is a ‘must-have’ in a payment cards solution?
- How do you feel your team would respond to this solution?
- What does success look like in the first 6 months/year?
- If I could demonstrate how we could help you address the challenge of increased card sales, how much of a favourable position would that put us in?
- If you don’t go ahead with implementing a gift card solution like ours, is ‘doing nothing’ a feasible solution?
- On a priority list, where would this be positioned ?
- What does the decision-making process look like when deciding to go open loop or closed loop as far as cards is concerned ?
- Who else is this important to?
- Who would be the person who signs the requisition?
- What concerns do you feel the person who signs the service agreement would have about this?
- Would it make sense to involve the person who signs the order form in our conversations?
- Who else would find it useful to be part of our conversations?
- How will this solution be funded?
- Is there a budget for this?
- Do you have the final say on spending that budget?
- Other than price, what will be the main criteria in making a decision?
- You mentioned you weren’t having a good experience with your current pre-paid provider. What do you hope we will do differently should we work together?
- If you didn’t feel we were the right solution for you, are you happy to be transparent and tell me?
- When would you want to go live with the gift card solution?
- When does the business need to have a solution in place?
- Would you see a proof of concept or perhaps a trial appropriate?
- What do you foresee as the potential blockades and hurdles we will face along the way in partnering with you?
- How can we anticipate these from your perspective?
- Is this decision a local one or does it need an international approval?
- What do you see as the next steps?
- Would you mind if a recapped our conversation so far?
- Do we need to include anyone else at this stage of the conversation?
Some of the above questions are more relevant than others and you may not want to use some of them. Yet, they have one common theme: They drive our sales conversations to customer needs, away from product features.
Why not experiment a little and try a few during your next payments sales conversation?
Gert Scholts is founder of www.thebestsalescoach.co.uk, the forward thinking sales training company rooted in classic sales techniques.
After 25 years in the Payments sales profession, he is on a mission to make the sales profession the best by sharing his experience with ambitious salespeople.
His unique hands-on sales coaching before, during and after customer contact, delivers remarkable results time and again.
Gert can be contacted here: firstname.lastname@example.org