One of the best ways to find success in a sales field is to find something you can sell that’s always in demand, and POS resellers definitely find that their services are always in demand. Not only are there always new businesses firing up for the first time and looking for credit card processors, there are also frequently opportunities to provide upgrades to past clients and new services to established companies who could save by switching their merchant services and POS equipment to a new provider. So how do you find the right resales program to get yourself started in this exciting field? Here are three steps to success in finding a point of sale reseller program.
1. Understand Resales vs. Referrals
Some programs offer you the chance to be an independent reseller, others simply look for lead referrals that the supplier then converts into sales. Understanding the difference between these choices and the income models they represent is the first step to success in this field. Independent resellers need to be able to convert leads they generate to sales on their own, submitting orders to their partner company. Often, that partner is a company that offers both equipment and backbone services like payment processing and a home for the customer’s merchant account. By contrast, referral agents just generate the lead for the partner business and leave the conversion to other sales professionals. Typically, their commission is smaller and based on a one-time payment, whereas resellers also enjoy residuals from service agreements they close. Most often, a referral business is an add-on to another established business, whereas a full reselling operation is a business venture unto itself.
2. Look for Investment in Your Success
When you’re going into a field like POS resales or any other credit card processing jobs, you also need to understand what resources are being put at your disposal as a newcomer. The tools you’re given will play a major role in your success, both by providing you with an understanding of the business model and best practices for important processes like lead generation, and also by giving you the extra training resources you need to better understand the products you sell. If your program only offers minimal training and orientation support, it might not be the best choice for a first-timer. Even experienced sales professionals often find the programs they have the best experience with are the ones designed to help newcomers.
3. Understand Your Product
Once you have found the POS reseller model that works for you and the program that will support you, the next step is to get acquainted with the products you will have to sell and their features. You can preview this while selecting the program simply by looking through a catalog for the company you are choosing to partner with. The right combination of selection and quality products, along with a good service plan selection, will help you gain traction. Remember, the best programs practically sell themselves, so look for something you’d be proud to participate in if you were a customer looking for card processing or merchant account solutions.
