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How do Payment Processors Effectively Market Their Services?

Discussion in 'Payment Processing' started by Content Rewired, Nov 9, 2018.

  1. #1
    I am curious as to what payment service providers are doing to stand apart from the crowd in this highly competitive space.
    SEMrush
     
    Content Rewired, Nov 9, 2018 IP
    SEMrush
  2. marget

    marget Banned

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    #2
    If anything, the main struggle payment service providers face is gaining the confidence of their clients, add to that the fact that it is difficult to track the positions and determine the level interest of clients in the sales funnel. Considering their technical complexity, payment service require effective methods of locating and engaging potential buyers. This would mean emphasizing market research. But when it comes to getting the attention of target clients, B2B lead generation is important.

    With lead generation, payment services enjoy:

    Effective profiling : Creating an ideal client profile is one thing. Looking for leads that match said profile is another. For obvious reasons, sellers need to look for people that have the right characteristics and attributes (i.e. budget, company size and type).

    Multi-channel engagements :Aside from B2B telemarketing, modern lead generation techniques also incorporate various digital channels such as email, blogging and social media to enhance a service’s image.
    After all, it’s important to use every available means to inform clients about recent offers and discuss about the type of service they want for their institutions.
     
    marget, Nov 21, 2018 IP
  3. Frank Tsen

    Frank Tsen Peon

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    #3
    Hi Content Rewired,

    You're right, the payment processing industry is highly competitive, and standing out is often the difference between great success and utter failure.

    Processors that end up doing the best generally have:

    1. Effective marketing and branding (SEO, social, word-of-mouth)
    2. A niche they excel in (think: industries that a processor handles particularly well)
    3. Confident executives, or at least one higher-up person who can instill trust in a merchant quickly by simply talking to them

    If you lack any of those, it's a lot harder to set yourself apart. If you have all three, you're in good shape.
     
    Frank Tsen, Nov 22, 2018 IP
  4. tgotchi

    tgotchi Active Member

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    #4
    The challenge of payment processing is to find good quality customers. I would suggest target for big (low risks) customers first to build up some muscles. Then only prepare for smaller customers.
     
    tgotchi, Nov 26, 2018 IP
  5. CenTex Hosting

    CenTex Hosting Member

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    #5
    Most of the big ones have a steady line of referrals by the banks. They have some type of partnership and the banks will say we are using this processor to set up your small business to take online payments and so on.
     
    CenTex Hosting, Nov 26, 2018 IP
  6. ScottSP

    ScottSP Peon

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    #6
    I think there are three things...

    1. Quality reviews and service - any business is review driven these days. So delivering great customer service, word of mouth... it's all key.
    2. Quality digital marketing - SEO, social media... everything. If you're a merchant looking for a payment processor, you're going to likely start at Google. So whatever company is first has the best shot.
    3. Partnerships - Partnering up with businesses and offering a complimentary service is huge.

    The rest is just rinse and repeat, and the ones who do all 3 the best will win.
     
    ScottSP, Dec 6, 2018 IP