How to increase the revenues of your Merchant Account Reseller business

July - 16

Providing e-commerce, website and mobile app development services to your clients is a great way to increase your revenues and increase your client’s satisfaction with your services.

How to increase the revenues of your Merchant Account Reseller business 20% or more and get more business from your clients.  This comes from experience working with partner merchant account resellers in Singapore.

As a merchant account reseller, you help your clients navigate through the meat and potatoes of ecommerce, processing transactions. For most companies, processing credit card transactions won’t happen without a merchant account.

For most small and medium sized businesses, selecting the right merchant account can be overwhelming, especially, when there are so many options to choose from. This is where you come in.

Since the perfect merchant account can depend upon many different variables, your knowledge and understanding of the different types of accounts can help a client through the complicated world of online transactions. You provide real value to your clients.

Increase your value to your customers

What if there was a way to increase the value of the services you provide to your client while at the same time increasing your revenues? Would you be interested?

Well, we have done it so we know it works. In fact, we helped one client increase their revenues by over 20%. For over five years now, we have had between five and ten large merchant account resellers as strategic partners in Singapore. When we started working together, they were small. Over time, they have all grown to where they are quite large. Much of that growth can be attributed to their ability to offer a broader range of services, primarily software development to their clients.

Being in a position to guide your clients through the Merchant account selection process, you are in a position of trust because your clients are depending upon you to provide a recommendation that will meet their needs. You are addressing a real problem for your client.

Software development as a competitive differentiator

For our merchant account resellers in Singapore, their ability to offer mobile app and software development services has been a competitive differentiator for them. When competing with other merchant account resellers for a specific job, their ability to also help them with the ecommerce, mobile app, or website development process has enabled them to stand apart from their competitors and win business. As a result, they have grown from small resellers to larger resellers.

Over time, our merchant account reseller clients realized a secondary benefit to offering software development services. Many of their clients came back to them over time seeking out software development services. Software, ecommerce, and mobile app development became a secondary revenue channel, generating revenue for the client separate and apart from merchant accounts. As time goes on, their software development channels are growing at a faster rate than their merchant account channels and some of the them have even started selling additional services such as online marketing and website hosting in an effort to better meet their clients needs and increase revenue and sales.

Selecting An Ecommerce, Website, or Mobile App developer from your client’s perspective

Selecting the right ecommerce, website, or mobile app developer can be an intimidating process for many small or medium owners. In most cases, they are too busy running their business to focus on selecting the perfect service provider that will deliver the software solution that will meet their business goals. Additionally, since there are no qualifications for being a web developer, it is quite literally ‘buyer beware’.

As a trusted ‘advisor’ to your client on all issues pertaining to their merchant account, you are in the perfect position to provide ecommerce, website, or mobile app development services. You don’t have to be a computer programmer, ecommerce specialist or online marketing to sell services. You just need to know who to turn to for answers. That is where your strategic partner comes in.

Selecting an Ecommerce, Website, or Mobile App developer from your perspective

By partnering with a company who has the experience, track record, business process and infrastructure in place to service your clients, your partner should be able to do what is needed to address your client’s business problem. Your partner should also be able to do this appearing as an extension of your company. In other words, the client is under the impression the entire time that your partner is part of your company. You should also be able to define the terms of the relationship that your partner should abide by, without fail.

The team at O Clock Software has been working under such terms with a variety of different clients. As a result, we have the processes, experience, knowledge and history to operate under such an arrangement. Even though we formed our company in 2009, management of the company has been working together providing such services to clients since 2004. Our clients over the years have not only been merchant account resellers but software development companies, website developers, Internet marketers, and full-service marketing agencies. This includes clients not only in the United States but other countries as well including France, Singapore, Dubai, and the Netherlands.

credit card process by phone

Case Study

Company X is a leading merchant account reseller in Singapore. Staffed with a team of 15 salespeople, Company X sells over 250 merchant accounts per month.

Looking for a way to increase their revenue, a principal in Company X approached a friend who just so happened to be an employee at O Clock Software. Long story short, after a series of meetings, principles from both companies were able to devise processes and protocols regarding service levels, project management and client communications.

Initially, things happened slowly in an effort to increase comfort levels between both companies and work through unforeseen issues. Problems that arose were quickly resolved with safeguards put in place to mitigate the recurrence of such an issue. Within a short period of time, Company X was offering ecommerce, website, and mobile app development to all of their clients.

The clients of Company X were very open to new services. They appreciated being able to deal with one party for all of their ecommerce and software development needs. The benefit to Company X has been an ability to provide a greater range of services and value to their clients. The result has been more sales opportunities and greater revenue per customer. Company X has found that they have won business from competitors as a result of the added value in the form of additional services that they provide.

Fast forward five years, Company X has managed to grow faster than their competitors to the point where they were able to increase their market share. Company X is also building their own merchant account software with the team at O Clock Software to be able to keep a larger share of the per transaction revenue.

Since the partnership has started, the team at O Clock Software has focused on addressing the needs of merchant account resellers and their clients. As a result, we have picked up a few more merchant account resellers in Singapore as clients. We are now setting our sights on the needs of American merchant account resellers.

One notable event pertaining to Company X has to do with how they won over one of their largest clients. While visiting a friend, a mid-level salesperson heard about a problem his friend’s employer was not able to resolve. They even had their own tech team in place that was not able to make any progress on the issue. While visiting, the Company X sales person suggested that is tech person take a look at the problem. What is one more set of eyes on the problem going to do, he thought.

Bringing in the Company X tech person who was one of our project managers out of our Singapore office, we were able to identify the source of the problem within two days and lay out a plan to address the problem. The CTO of the client was so impressed at the services provided, they directed much more of their software development projects to Company X.

The problem that was so difficult to solve had to do with integrating software that was supposed to be compatible but was not. We ended up building a middle layer of software enabling the two separate systems to communicate with one another.

O Clock Software, Your Merchant Account Partner

The team at O’Clock Software is partnering with several major merchant account
providers in Singapore. Yes, this is not United States but ecommerce sites, transaction gateway software, banks and mobile apps are just the same in Singapore as they are in the United States.

O Clock Software has been partnering with merchant account resellers since late 2009. As a result, we have the software development, project management, communication, quality assurance and delivery processes in place to ensure that software is delivered to your client just as they are expecting. I can’t underestimate just how important these processes are as they define the experience and the quality of product that is delivered to your client.

In addition to proven processes, O Clock Software has extensive experience with transaction gateway software. In fact, we have experience working with over 35 different transaction gateway solutions. This pretty much ensures that we can handle whatever transaction gateway software solution is thrown your way. Additionally, our team has experience with the inner workings of transaction gateway software. As a result, we are able to diagnose and resolve most any problem that may arise.

We have an extensive list of successful projects and satisfied clients. This is in part to our long-term approach to clients. In other words, we view every client as a relationship, in it for the long haul. This approach ensures that we will deliver a project that exceeds the client’s expectations and meets their business goals. Most importantly, it solidifies your relationship with your client where they see you not as a merchant account provider but rather as a valued solutions provider. The result to our merchant account reseller clients is additional business and referrals.

Since 2009, we have completed over 1,000 projects for over 100 clients located in 6 countries. This breaks down to an average of 10 projects per client. By taking a long-term approach to a client relationship, we focus on the quality of our work rather than on the profitability of each project. This approach conveys to our client that we are aligned with their interests in completing their project the best way possible. The result is many more projects and referrals over the life of the relationship. It also means that most clients view us as a trusted adviser rather than a salesman.

Testimonials and references speak volumes in terms of what you can expect from your service provider. We have a long list of testimonials to share and references we can provide. We have found that our clients can often speak better about what it is like working with us than we can. They don’t have anything to hide and tell it like it is from the client’s standpoint.

While O Clock Software has been in business since 2009, the principals making up the management team have been working together since 2004. As a result we have a long list

Conclusion

As a merchant account reseller, adding ecommerce, website and mobile app development services to your service offerings can increase your value to your clients, not to mention increase your revenues and sales. We have seen a greater than 20% increase with some of our merchant account reseller clients.

The team of O Clock Software has been partnering with merchant account reseller clients since 2009. As a result, we already have a model in place to do everything pertaining to your client’s software development projects. This includes consultative selling, requirements development, design, development, testing, deployment and training. As a result, you bring our team in when we are needed, sit back to collect the additional revenue, and enjoy everything that comes from being a trusted adviser to your clients.

Contact us to learn more about our strategic partnership program for merchant account resellers, or to discuss your software development needs or those of your clients.

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