Tuesday , November 13, 2018

Does your POS make you money?

As payment professionals, point of sale is frequently our toughest sell. Many factors play into the merchant’s purchasing decision, and price always seems to be a key influencer. It’s a fine balance between making money for your business while also discerning the true value of your solution’s purchase price. Does the cost of your point of sale solution position you to do both?

We frequently see POS systems with added costs for peripherals, software licenses, feature sets, service, and the list goes on. When these costs are itemized, the solution becomes expensive and creates confusion. The answer here is bundling. When all POS hardware, software and support services are included in one comprehensive package, merchants can easily understand the full value and appreciate the “one solution for all” model. They are not forced to pick and choose essential peripherals like printers and scanners based on cost, and they don’t have to worry about which third-party apps that they can (or can’t) afford to augment their business.

Successful selling begins with resolving a merchant’s challenges, and the “bundling” model enables you to address them head-on with a variety of integrated features at one low cost. Does your POS upcharge for business-building tools such as specialty tax, the direct transmission of Scan Data reports, CRV integration, support for 3rd party delivery services, above store reporting, and back office management? Are there costs for menu/inventory builds, training, or other services? If so, these costs add up quickly and will most likely prohibit your merchant. Look for a solution like Exatouch® Point of Sale, which offers all modules and features at one low monthly cost and encourages upselling and cross selling, boosting your revenue and customer retention.

As many merchants frequently struggle with cash flow, the upfront cost is a major consideration. Does your POS make you money upfront while remaining competitive and saving your merchant money? Few successfully accomplish both and, thus, close windows of opportunity. Electronic Payments’ Exatouch bundles are priced to ensure our agent partners establish a lucrative POS portfolio, starting with upfront income from sales, and still come in lower than the competition.

Regardless of cost, does your POS partner have a program in place for those merchants who do not have the capital to make the purchase? If not, you could lose the sale. Payment options that extend over a longer term, even if just a few months, could be all the merchant needs to commit and start experiencing the benefits of your services. Exatouch’s three-month payment options give you greater flexibility as a sales consultant, and affords your merchants the opportunity to own their own point of sale solution in short order.

While we shouldn’t tout price alone, upfront and monthly POS costs play into our conversations and overall sales story. If your prices are not transparent, or you’re not sure where you stand amongst the competition, you are doing a disservice to your business and merchants. Reach out to Electronic Payments at 800-966-5520, ext. 223, to learn how Exatouch Point of Sale and our pricing structure can generate new opportunities for your ISO and establish a profitable POS business long term. With the right products, price and partner program in place, you’ll walk into your next sales meeting with more tools, resources and confidence than ever before!

Keith Ashcraft, Director of Corporate Recruiting | 800-966-5520, ext. 223 | keith@electronicpayments.com

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