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Cover Story: Survival Tactics |
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Increase sales and reduce attrition: This tried-and-true formula has led many ISOs to prosperity over the years. Unfortunately, the current economic crisis is putting that wisdom—and the ISOs that heed it—to the test.
In today’s financial climate, ISOs should take nothing for granted. Many merchants are so anxious about the economy that they have stopped making all but the most necessary decisions, which slows down attrition, reports Joyce Cook, president and CEO of International CyberTrans, based in Nashville. Nevertheless, her ISO is taking a largely psychological approach to retention by making calls and sending personal notes to existing customers in an effort to make them feel appreciated. The sales staff also is making a soft sell of products or services that the merchant is not currently using.
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