The problem is, however, a payment processing company’s target market could cover a wide range of businesses — merchants ranging from upscale retailers to small restaurants, healthcare or non-profit organizations, and even companies that use an unattended payments model. You also want to capture the attention of potential partners including VARs and ISVs that will include your solutions in their end-to-end point of sale (POS) systems.

One of the biggest payment processing company marketing challenges is juggling multiple campaigns aimed at different types of prospects. The content you create, your website and email blasts, and newsletters related to each campaign must direct different segments of your prospect list to information that will be of greatest interest to them– all while working together seamlessly to brand your company.

Reaching Merchant Prospects

To reach merchants, you need to make the complex simple. Detail the services you offer beyond credit and debit card processing, such as electronic check processing, mobile payment support, gift cards, prepaid cards, and e-commerce solutions. Also, let them know information such as rates, how soon they have access to their funds after a transaction, and how accurate and quick your processing services are — especially if you are leading the industry in these areas. Also, stress the value-added services that make you stand out from the competition.

In addition, offer calls to action (CTAs) that visitors to your website can download on topics such as PCI, data security, data analysis, and breaking news from the industry in exchange for their contact information. You can also build your prospect list by inviting visitors to your website to sign up for newsletters or alerts.

Although most website visitors are in the information-gathering stage, some will be ready to connect. Because of this, make sure your website also features easy-to-find CTAs for people closer to the bottom of the sales funnel, such as “request a quote” or “schedule a demo” forms.

Engaging VARs and ISVs

Resellers and developers working in the POS or related industry are most interested in how a partnership with you will help them grow their businesses. Provide information on your hardware and software partners so VARs can see how your payment solution could complement the end-to-end point of sale (POS) systems they design. Be prepared to showcase your success by providing statistics or case studies that show merchants use your solution long term, limiting churn.

For ISVs, highlight information on the resources you have available that support the development of new integrations — such as online tools, testing environments, and a forum where developers can connect.

This segment of your prospect list also presents one of the biggest payment processing company marketing challenges: demonstrating that you have your finger on the pulse of the industry and you’re ready for the future of payments. Impress VARs and ISVs with your knowledge showcased on an up-to-date website (in other words, take down “EMV is coming”) and make sure you are regularly posting blogs and adding new content. Potential partners will perceive your activity online as an indicator of how on top of things you are, and how responsive you will be when they need answers.

Different Types of Prospects, Different Results

One of the toughest payment processing company marketing challenges is measuring and analyzing the results of your campaigns. Because you target different types of prospects, the results of marketing campaigns will be different and must be evaluated on different criteria.

The SkyRocket Group studied the results of our work in the POS and payments industry over the past 13 years and established marketing benchmarks. We found, for example, marketing campaigns that target authorized reseller bases typically perform better (email open rates as high as 24% to 35%) compared to end-user campaigns (typically 8% to 16%). Our benchmarking study also found differences in how web traffic, lead generation, and social marketing campaigns differ in the POS and payments channel.

Inbound Marketing Channels that are Low Cost and High Impact

One of the reasons inbound marketing is a good strategy to adopt for marketing your payment processing company is that many of the strategies are very low cost while also delivering reliable results, especially when you combine them all together.

Email Marketing

Your company should have a professional way of communicating with prospects and customers, which is where email marketing can help. Emails don’t cost very much to send and there are many good email marketing software platforms out there like MailChimp and Constant Contact, as well as more sophisticated solutions that integrate with CRMs like Act-On, Pardot, and Hubspot.

Social Media

Being active on social media may not seem like a high priority for a payments processing company, but it is necessary. Without an active social media presence, you will be noted for your lack of participation, which can hurt your brand and potentially lead to lost interest. Having a steady posting activity will not only boost your brand, it will also have positive effects on your SEO.

Blogging

We cannot overstate how important blogging is when it comes to an inbound marketing strategy. The impact of having new content posted on your website is well-documented and it gives you post fodder for your social media accounts.

Website

If you don’t have a way to capture leads on your website, why even have a website at all? Your website is your most vital sales tool right now. The effort that you make to send emails, engage on social media and posting blogs is all going into a black hole if you don’t have a way to convert your leads. Learn the best practices for capturing leads and turning your website into the sales engine it was meant to be.

SEO
Search engine optimization is an ever moving target. However, there are some basic components you should know and have on your website. Having the right SEO structure and SEO-rich content costs nothing to implement, but you have to do it correctly to get an organic search ranking boost.

Who Has Time for That?

Admittedly, one of the biggest barriers payment processing companies have in developing a successful inbound marketing strategy is that many just simply don’t have the time to do it. It’s not always easy to find time to carve out of your day to dedicate to marketing. Often, it is the last item on the to-do list. But inbound marketing —the task that you never get to —is crucial to your overall sales strategy and driving potential customers your way.

If you are looking for someone to help execute your inbound marketing strategy, download our rate card to see what services SkyRocket Group can offer your payments company.

Invest in Your Marketing Strategy

Resolve to make inbound marketing for your payment processing company a priority in your schedule, and over time you will see results from your efforts. It’s possible to overcome payment processing company marketing challenges with a carefully planned strategy and consistent execution. Face your challenges head on and develop a plan to get the right marketing messages to the right prospects, and ultimately get the most return from your marketing campaigns.

The post Overcoming Payment Processing Company Marketing Challenges appeared first on SkyRocket Group.

1. Optimize Your Website for the Right Key Terms

Over 80% of people looking for a product or service begin that search online. Are you positioned to be found?  The number of technology companies that either do not have a website or have one that is not up to par is quite surprising.  Take the time to create a professional looking website—after all, it is your virtual business card.

Make sure the content of your website uses SEO (search engine optimization) tactics that optimize the pages to appear in search results for related keyword terms and phrases. Incorporating the right keywords and internal linking structure to your product pages, blogs, and pillar content turns your website into an inbound marketing tool that ensures when a potential customer is looking for a “POS system” in your area, your business will be found.

2. Create Educational Content

More than 95% of first-time visitors to your website are not ready to buy. They are in the information gathering, problem solving or research phase.  In order to keep your brand top of mind to customers in this stage of the buying cycle, develop content like whitepapers, e-books and checklists that are free educational assets. These materials should present value so that individuals at the top of the sales funnel are willing to fill out a form to download the resource. While developing educational and informative content takes time, having assets like this on your website will position your company as an industry thought leader. Additionally, your business will capture POS lead opportunities that otherwise may have gone unnoticed, allowing your team to nurture them down the sales funnel.

3. Execute Outbound Marketing

Outbound marketing is a tactic that carries your message to a broader audience in hopes you can connect your brand with new potential prospects—or strengthen your presence with current ones. Outbound marketing casts a wider net, and allows you to potentially reach an audience you may not have targeted before. Outbound strategies can include sales literature, email campaigns, digital advertisements (social, pay-per-click, etc.), video demonstrations, and showcasing your products and services at a trade show.

4. Benefit from Manufacturer and ISV Relationships

Vendors are usually a great source for POS lead referrals. Take the time to understand what your business may need to do to receive leads. Realize that your ability to receive leads may rely on networking and relationships you have with manufacturer and ISV partners. The downside: many vendors require that you follow up on leads handed off and report feedback, so make the effort to do so or your lead source may quickly dry up.

5. Use Pay per Lead Programs

There are several companies whose primary business is to generate online leads for POS systems (and other product categories) and sell those leads for profit.  Often, these lead generation companies allow customers to build a profile of the type of lead they are interested in purchasing. Filters can be set so that leads can be purchased in a certain geographic region, by business type (think retail, restaurant, etc.), or by product interest (think hardware, software, total system).  In addition, any POS leads purchased that have false contact information like a bad phone number, contact, etc. can be returned for credit.  The downside: many of your competitors may be also be purchasing these leads—which can lead to potential price wars and lower margins.

6. Leverage LinkedIn Connections

LinkedIn is the ideal social network to capture POS leads if you are social-savvy. Make sure you have an individual profile and a business profile that is professional and easy to read. Then begin cultivating your connections, and engaging with clients, networks, and groups. Keep your conversations meaningful and celebrate the successes of those in your network. Leverage LinkedIn’s article tool to further the reach of your blog content to a wide network, while growing your own credibility as an industry expert.

7. Develop Strategic Partnerships

Most resellers are geographic in nature, typically cultivating opportunities in a certain city, state, or region.  Have you ever considered developing strategic partnerships with other companies that offer supplies or services to retailers or restaurants in your area? Often in the sales cycle, a new business will purchase equipment, merchandise, and supplies to kick start their operations first. What typically comes last is technology.  Create partnerships with retail store and restaurant equipment suppliers.  They are good sources for new stores, store redesigns, and POS system leads.

8. Offer Direct Engagement

The way you engage with your POS leads is important to your success. Many resellers choose indirect engagement, like a FAQ page where customers can look up the information they need. While this is still helpful, it would be wise to consider a more direct approach like a chat box. Customers can ask the questions they need and get the answers immediately without having to sift through a list of questions. This also allows you to provide better customer service and foster relationships built on trust right off the bat.

9. Discover Marketing Automation

There are innovative tools that can help you automatically generate more POS leads and then market targeted messages to those leads. Since POS system sales cycles are lengthy in duration, keeping your products and messaging at the forefront of your potential customers is key. Marketing automation allows you to easily and “automatically” send specific messages to a targeted audience based on actions they have taken on your website. Send follow up emails, encourage further engagement, and build trust in your brand easily and effectively.

10. Know When to Ask for Help

Implementing any of the above strategies can go a long way towards capturing POS leads. It’s also critical that you are consistent with your efforts. You can’t just send out one or two emails and expect a full sales funnel. Using a combination of these methods in your marketing strategy will maximize your chances of not only generating more leads, but ultimately closing the sale. It can be a full-time job in itself to keep up with these strategies. If you don’t have the in-house resources to market yourself the way you want, seek out an agency that specializes in your industry.

SkyRocket Group has over fifteen years’ worth of experience in marketing for the point of sale and payments industries. As an agency specializing in technology solutions, we not only speak your language, but help make your brand, products, and services easy to find, and hard to forget. For more information on how you can boost your marketing efforts and capture more POS leads, contact SkyRocket Group today!

The post 10 Proven Tactics for Generating POS Leads appeared first on SkyRocket Group.