Hi, my name is James Shepherd and today I want to talk to you about phone or face to
face, which is better?
So one question I get asked all the time, today twice on consulting calls I got asked
this question.
I got asked a bunch by reps is should I call over the phone to sell merchant services,
or should I go face to face?
I have very specific opinions about this, but I'm going to have to give you basically
three kind of different ways we are going to look at this.
The first answer that I'm going to give you is my personal opinion about this question.
My personal opinion is that face to face works best.
In other words, if I have an hour to spend and I can spend that hour calling merchants
and trying to schedule appointments, or I can spend that hour just out walking into
businesses, an hour of walking into businesses generally speaking is going to produce better
results.
So number one, face to face is better in my opinion in terms of just an hour vs. an hour,
I think face to face is more productive, but don't stop the video yet because that's
not the final answer that I'm going to give you.
The next way that I want to answer this is in terms of effort and motivation.
The majority of sales people I have spoken to are actually less nervous about over the
phone.
So they want to call first, schedule an appointment, and then follow up on that appointment.
They are more comfortable doing that and as a result, they are going to put more effort
and more time into doing the phone than going face to face.
So in that situation, if you are like asking me, "Is it better if I spend three hours
a day on the phone, or one hour a day in the field?"
Three hours a day on the phone is better.
It's not three times as profitable and the problem is you have to know yourself.
Are you actually willing to get out of your car door, open your door, walk out, walk into
a business where you don't know anybody and actually talk to someone?
If you are not willing to do that, but you are willing to get on the phone, then get
on the phone.
Okay, that's kind of a no brainer.
A lot of people are like, "Ah, I got to get out there and get in the field because
that is the most productive thing.
James always says that's what works best."
Well, forget about that.
I mean it doesn't work best, if you don't do it.
So it is going to work better if you are on the phone, if that is what you are comfortable
doing.
Okay, so first thing is my opinion face to face an hour vs. an hour on the phone, face
to face wins usually in that situation.
But my second observation is if you are more comfortable on the phone than you are face
to face, go phone and then face to face.
Number three, let's talk about the numbers a little bit.
In other words, what numbers should you expect when you are out in the field.
Let's start by dispelling a common myth and that is a lot of people call me and say,
"James, I want to sell merchant services over the phone, just entirely over the phone."
So I want to talk about those numbers for just a second, but that's really not the
primary purpose of this video.
I'm really talking about phone appointments vs. face to face.
Let's talk about phone for just a second.
So if you are calling over the phone, what you are going to find is that if you have
a really, really good pitch, you can get a lot of people interested, especially cash
discounting.
You can get a lot of people interested and get them to say, "Yes."
However, you are going to find that a very large percentage of the people who say, "Yes,"
don't fill out the paperwork.
So if you are trying to sell over the phone, what I would tell you is number one, it is
really hard.
Like if you are trying to do the entire process over the phone, it is very difficult.
You really have to think through your process very carefully, continuously improve your
process, and also the biggest hurtle, if you are good at sales over the phone, is going
to be after they say, "Yes" getting them to fill out the paperwork.
So I'm not going to get into too much of that, just that's what you need to expect
and understand that.
Now let's talk about phone appointment vs. out in the field, what kind of numbers can
you expect?
If you are on the phone, usually if you spend two hours on the phone calling to schedule
appointments, now when I say calling to schedule appointments, I'm not talking about you
know "I'd like to come out and sign you up for merchant services, if you are really
interested and ready to sign up."
I'm not talking about that.
I'm talking about an appointment like you know, "Hey, I just want to stop by introduce
myself.
I'm a local business owner just like you and I want to drop my business card off and
say, 'Hello'," a very general purpose appointment.
In two hours, you can usually set between three to five appointments.
So three to five appointments in two hours of time, if you are calling for yourself.
Now if you are calling for somebody else, or if you are you know it's like a call
center, it is going to take them a lot more time.
It is a lot harder to call and schedule for somebody else.
If it is you, you can be more casual.
"Hey, I want to stop by."
It is a lot harder for somebody to say "Yes" to you wanting to stop by.
So two hours a day, you set three to five appointments for yourself.
You go out in the field and you run them.
Again, depending on how you set it up geographically, it could be you know some more driving time
and things like that.
If you are face to face, usually in about two hours, you can walk into about 20 businesses,
depending on how interested they are.
If they are really interested, it might take a little longer than that.
If you get a lot of people just saying, "No" really quick, or they are not there, the person
you talk to isn't there, it could go a little faster, but about two hours you can walk into
20 businesses.
You walk into 20 businesses, normally you are going to are going to have four decent
conversations, or four contacts, and one of those people is going to warrant further follow
up.
So it is going to be like you know one or two depending on how good of a sales person
you are.
One or two is going to warrant further follow up.
So you are normally going to make that get that one really interested person or two interested
people a day depending on how good you are at sales, which is then going to convert into
between three to five sales a week.
So the real trick is I mean when you are first starting out, you could literally walk into
60 businesses a day no sweat.
I mean you really can.
The problem is then you have all these follow ups to do and if you are out in the field,
you got to drive all over the place and walk back in.
So the challenge when you are walking in is you have to set aside those two hours a day,
so you get those 20 new walk ins, so you get those four contacts, so you get those one
or two people that are interested.
Those are your numbers.
So again, to summarize the one today, phone appointments vs. face to face.
Again, face to face I mean I've worked with hundreds and hundreds and literally thousands
of reps in this industry, I can tell you that hour per hour face to face is going to be
better.
It just is.
There is just no way around it.
You are right there.
They know who you are.
It just works better, but face to face also takes a lot more guts.
It takes a lot more energy.
It takes a lot more courage I guess is the right word.
So if that is your case, and you are more comfortable on the phone, then phone appointments
are going to work great.
Spend two hours a day cold calling on the phone, that's going to get you your three
to five appointments.
Again, make them easy appointments.
Just you want to meet with them.
Then you get out in the field and again you can have the same results as if you are walking
into 20 businesses a day.
So those are the numbers.
Closing merchants over the phone, that's a whole different animal.
It requires a ton of work, a ton of like process implementation to make it really smooth, so
you can close the deal over the phone, not easy, very, very difficult.
Easy to get maybe the "Yes," but not very easy to get the paperwork done.
It is a lot harder to get that paperwork done.
So that's the phone vs. face to face.
My name is James Shepherd.
Thanks for watching and listening.
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