Create an in-house payments training
SaaS platforms entering the embedded payments space need to train their sales team. The sales team needs to be informed on how to sell the value of your unique payments offering as opposed to price fighters.Â
We encourage your sales training to:
Demonstrate value: Ultimately, users recognize the added value of saving time, resources, and cost. And most importantly, driving additional revenue. There’s always a provider that offers payments at lower rates. Your sales training should focus on the inherent value of having an embedded payments offering and who this ultimately impacts. For example, within the F&B industry, a unified embedded payments offering will save time at the counter because of your ‘Tap to Pay’ offering. You can also focus on how your embedded payments make access to cash flow easier with faster payouts.
Know your competition:Â Create a deep dive into the competition to give your commercial teams a good understanding of the landscape, their pricing, and your added value to users.
Understand the numbers:Â Payment invoices can be confusing. Your sales teams should be able to understand the differences between various payment models (e.g. blend and interchange rates) and recognize the hidden fees from other providers to land on a valuable counteroffer.
Discuss customer cases: A group setting encourages knowledge sharing and participation to sharpen ideas. Play out real customer cases with all the challenges your commercial teams face to develop their commercial skills. Discuss who the customer is and show the challenges of selling the value of your embedded payments offering, from pricing objections your teams face to simply starting with a ‘no.’