In Part 1 of our blog on Marketing Tips for ISOs in the Payments Industry, we discussed how ISOs can establish their business, how ISOs can claim their online space, the importance of social media, and why ISOs should claim online local listings.
Here in Part 2, we will focus on quick and easy ways ISOs can increase their public relations efforts, networking tips, the importance of referrals, and email marketing instructions.
How ISOs Can Increase Their Public Relations Efforts
One easy way to spread the word of your business is to send out a press release. Whether you have a new product launch, have recently partnered with an organization, or have a new hire, it’s important to share this news publicly.
Websites like PRNewswire.com and PRWeb.com are great outlets to share your press release to a wider target audience and get your press release noticed within the payments industry. Distributing a press release at least once a quarter is a good idea to make sure you stay relevant and to share with your contacts newsworthy content. Make sure to also post your press release on your social media pages and company website as well for additional SEO exposure.
Another unique opportunity to get the name of your business recognized is by sponsoring a local event. 5K races, charity events, and sponsoring a sports team are all great examples of getting your logo and company name out in the public.
It’s also important for ISOs to join local business organizations relevant to the payments industry and attend networking groups. Not only will this allow you to meet fellow-minded payment individuals, but also give you the opportunity to share your business offerings with others. Here is a list of some great resources regarding business networking:
- Chamber of Commerce
- SCORE Council
- Entrepreneurs’ Organization
- NFIB Small Business Association
The Importance of Referrals
Did you know consumers are 4X more likely to buy a product/service when referred to by a friend? In the payments industry, referrals are a huge opportunity for ISOs to gain new business. One way you can gather more referrals is by reaching out to your established merchants. Create referral cards/business cards with your information so that they can easily hand out your contact information to their colleagues. Be sure to incentivize them to bring you new business with a flat or rev-share model. It’s also vital to invest in a referral tracking software so that you can easily keep tabs of who is referring your business. Here is a list of other audience-centric vendors ISOs should reach out to regarding referrals:
- Business security and fire services
- Shelf stockers / merchandise providers
- Web developers
- Local advertising affiliates
- Business developers
Customer Relationship Management System Examples
To keep all of your marketing efforts organized and trackable, be sure to invest in a Customer Relationship Management System (CRM). CRM’s are an absolute necessity to help you manage all interactions regarding your contacts, sales leads, referrals, and workflow process. Here are some relatively inexpensive and robust CRM’s we recommend:
Email Marketing Instructions
Email marketing has become one of the fastest ways ISOs can share information about their business. When it comes to sending a good email to your contacts, make sure you have an established email address that’s professional and recognizable towards your business. Be sure to create an eye-catching subject line that will get them curious and interested in opening your email. In the body of your content, it’s crucial to make your content interesting and get to the point quickly. Good imagery is also beneficial and eye-catching. At the end of your email, include a clear call-to-action where your contacts can call/email/visit a site for more information. And last but not least, ALWAYS have an unsubscribe link.
Here are some useful email marketing services:
By following all of the information above and the steps from Part 1 of our Marketing Tips for ISOs blog series you should be well on your way to establishing a credible business, building new leads, and integrating marketing techniques that will guide your business to future success.