Leaving a good footprint will surely change the lives of the person you dealt with. However, there has been an increase in credit cardholders from 8.7 million in 2007 to 9.1 million in Q1 of 2019. You will be prompted to choose how you want to pay. Introduce yourself as a help not as a salesman. Short Answer: Many banks and credit card issuers, including Bank of America, BB&T, Citibank, and Discover, will let you transfer available credit from a credit card to an internal or external checking account. What do they use it for?) SOLUTION:Practice. After the offers, take note there is a decision time involved. People don’t like being sold to – but they enjoy buying. Background: I work at a retail/department store. Before applying for a credit card, consider how you’ll use it and what you value most. Oh, did you know that our bank has the largest reach in Malaysia – our credit cards has the most promotions in our partner outlets located in all the big malls in Malaysia?”Here, you have successfully sold your company as having the most merchants partnered with your credit card and with the most promotions. And you have the responsibility to do it. Find out more about our credit cards and the guidance we have on offer. The first step addresses consumers who have just opened credit card accounts with an institution. These Credit Card Sales People Got It All Wrong, How To Improve Credit Card Sales – Cold Calling Strategies. You’ll hear a general response such as, ‘Thank you for calling the merchant services department.’ How Credit Cards Work . Knowing how credit cards work provides useful insight on managing your debt more responsibly. It is difficult, in this job, to not know how we can benefit our customers. Remember this motto “Selling is not who has the best speaking power. Give yourself few minutes to release the negativities, frustrations and exhaustions to reflect an inviting aura with the potential client. Cross-selling with credit cards isn’t just for financial institutions and national credit card companies. The vast majority of these sales (59%) came from customer already planning to open an account or buy a new service (the bank did not ne… Provide your credit card … Engage With New Cardholders Early and Often. 6. In this case, because the Product is the same – let’s try using Service.“Great! In order to create urgency, give your client 2 to 3 days to think and decide if he is going or not. When opening options, make sure that is it aligned with their needs. It is because I am also a salesman that has the same attitude of closing and winning or is it because I wasn’t approach properly and wickedly. So be one! You want to ask open-ended questions that allow you to probe further, checking for opportunities that will help you sell to them. But if this is so far the only opportunity you’ve got, then make the most out of it. Unlimited 1.5% Cash Back on your purchases. Your email address will not be published. Let’s use this call I’ve just recently received as an example. We are told to *request* credit cards and emails, I am fine with that. How Did You Hear About Sales Ninja? This I think is self explanatory. To do that, you need to upsell the benefits to outweigh the costs of taking on your credit card – make the customer forget their prejudice against credit cards by having them only remember why it’s a good deal. Pull your colleagues aside to practice. It’s now 2 years later and the percentage has likely dropped due to media influence and increase in news about scammers – not to mention the widespread prejudice against telesales and cold calls in general. One popular marketplace for selling gift cards is Cardpool.com, a gift card exchange site that lets you buy discounted gift cards and sell unwanted gift cards from dozens of major retailers, including department stores, electronics stores, restaurants and more.. I do admit that I am a person that is hard to sell with, even with the emotional blackmails. Officers should tell the customer that they were stopping by to tell them about the exclusive credit card offer and to attempt to sign customers up to receive the credit card. They are just trying to be witty because they are used to it. Online Shopping Using Debit Cards. Sell yourself before your products. Is 50% of your 40-hour workweek made up of dialling, calling and facing objections from prospects? Even if they are not qualified, learn how to thank them because without them you will never have a chance to improve your presentation skills. If you can answer all the technical objections that your prospects might throw at you, you will be able to put their doubts to rest and they will remember the “credit card salesperson that knew what he/she was talking about”. There are three steps banks and credit unions can follow to accomplish this. Which bank’s credit card are you using at the moment? Your email address will not be published. Super ethics for sell the product. Most of the time I am approached by agents from the bank offering credit cards. I am currently checking some people who need to consolidate their financial or budgeting concerns. Now, let’s use this example to break down what went wrong and learn how to improve your cold calling skills (adaptable to all sales across industries): With only 30 seconds between when your prospect picks up your call and them realising that you’re cold calling them, you don’t want to mess up your first 5 seconds by making a bad impression. All you need is to sustain the conversation. b. Hello, how are you today? Following this increase is a drop in supplementary cardholders (from 1.2 million supplementary cardholders in 2007 to 1 million in 2019). Which bank’s credit card are you using at the moment? You can jumble the rules from time to time. Credit cards. However, there are more people out there who are gullible and/or convincible if we apply a right approach and timings. Give your client a time to think. Our bank is well known for fast and high-quality customer service representatives – it is guaranteed (and a part of our SOP) that your call will be attended to in less than 3 minutes.”In this example, you are selling your service as a value that your competitor cannot bring to the table. This is not a question if the client is busy. Every curve and every twist of the facts or events during the sales process has a great effect in winning a number.”. 9 times out of 10, they will tell you a feature you have not yet mentioned during your cold call – and it might not even be a feature you have! One of the major rules in sales is that you need to believe in what you are selling – only then will you be able to genuinely deliver the message, value and benefits of the product to your prospect. Applying for the Card 1 Fill out the credit card application at a branch location. If positive - ask for the right contacts, requirements and restate the benefits. Nevertheless, don’t set aside your looks (dress and poise) and smell during the approach. Because this is the best time to offer your products. The first 45 days after a new credit card account is opened are critical for establishing a strong cardholder relationship. Remember this, you are NOT a salesman. More often than not, working in sales means picking up a phone. This way you can easily open a conversation. Working They hack the credit card details that users input on websites and then use it to their advantage.Leaked credit card … Recently, he has been in the online shopping craze and he’s looking to buy a new cupboard to store all his new clothes. From RM406.5/million to RM118.5/million, number of card transactions have fallen by almost 30%. Discourse markers – words like “um”, “uh”, “like”- makes you seem timid. Speak naturally and as much as possible apply neutral accent as not all potential client is coming from the  same land). Understanding their needs and learning their behavior are the best way to get the client sit for a conversation. The Reserve Bank of India (RBI) has asked private sector lender HDFC Bank to halt all its digital launches as well new sourcing of credit card customers temporarily. Required fields are marked *, > Home > About Sales Ninja Training> Sales Articles > Sales Videos> Public Training Programmes > Sales Bundles> Contact Us> Subscribe to our newsletter> Media/Press Kit, > Sales Training> Sales Motivation> Sales Leadership> Sales Negotiation> Sales Prospecting> Key Account Management> Sales Service> Sales Team Building, > Automotive Selling> B2B Sales> B2C Sales> Dealer Sales> Higher Education Sales> Pharma Selling> Project Sales> Property Selling> Retail Selling, © 2021 Sales Training Malaysia - Sales Ninja Training, How To Generate Leads & Sales Using LinkedIn, “I already have a card with similar rewards. Bank of Ireland has agreed to sell its UK credit card portfolio at face value of about £530 million, it announced on Friday. SOLUTION: Learn from each call that you make. Some credit card companies have created fuel credit cards that help you save more on fuel expenses. It is also important to keep up to date with how your product is doing in the market (Which market segment uses credit cards the most? Credit cards are important for things like making hotel reservations, car rentals, or online purchases. (written right after a credit card agent of FGB shocked me from behind and immediately handed me a damn paper), My 12 Practices of Frugal Life in Abu Dhabi. The TAKE IT and GO sales approach will not really work especially with the racial differences that are present in the UAE society. (Be cool, be smart, and apply a right tone in your voice. How to sell credit cards? It is the lifeblood of your ecommerce operation and a necessary cost to consider when selling online.. But I can't seem to get anyone to buy any, what can I do? When you use a credit card for either one, your card details are sent to the merchant's bank. (The Art of Bullshitting, My Personal Suggestions). WHAT WOULD HAVE BEEN A BETTER FOLLOW UP?“Oh, but do you have a credit card that gives you 10% cash rebate when you shop online, pump petrol, etc.? This time set an appointment so you can better present your idea not sell it. This is an elevator speech without selling. Remember that in Rule # 2 you already took their time. You may also seek other options than direct credit card to bank transfer. We are all passersby. Using Paytm (and other e-wallet services like FreeCharge, MobiKwik) This feature is devised mainly to avoid keeping too much balance in your e-wallet. And offer an additional help, ask referrals and ABOVE ALL open up a friendship. Do not qualify your client upfront. Also, get them to be complacent and passive. It was a promoter from a bank and this is how the call went –, “Hi, good evening.. erm good morning sir, I’m calling from Bank X about the latest promotion on two of our credit cards.”, “Sir, you are not interested in both cards?”, “Um, don’t you want to hear more about their benefits first before you reject me?”. SOLUTION:Know your product like the back of your hand. Of course, you do not want to scare them away by being too aggressive but a passive, unconvinced tone will only give them affirmation that they wouldn’t want to waste precious minutes on your call. They’re convenient and secure, and help give you the freedom to manage your finances, cover unexpected emergencies and also take advantage of rewards and special insurances. I am doing a financial assistance regarding credit card settlement and opening a new account to minimize the interest rate concerns in credit card handling. But most of the time, they are your client. And if the client says no, don’t lose hope. About Credit Cards Credit card is an electronic payment card issued by banks and non-banking credit card issuers with no guarantee or cash deposit. Copyright © [2010] Sales Training Malaysia - Sales Ninja Training | Powered by Sales Training Malaysia - Sales Ninja Training, How To Avoid Sales Accidents – Close More sales, Top Telesales Training In Malaysia – Cold Call and Prospecting. With the solution above, you have a short cut to your learning – getting real-time feedback from your prospects. While it is difficult to sell to someone who is hostile or is aggressively throwing objections at you, it is just as difficult to sell to someone who is listening to you but showing little to no interest. Take a month break and approach him again. Do you find it a problem getting through their customer service centres with long waiting times (sometimes as long as 10-20 minutes? If you don’t want to hear NO, then offer slightly higher solutions before downgrading. But why it is none of them is successful in closing a deal with me. Contrary to popular belief, it is not a sign of unintelligence but instead, a sign of conscious effort. The Reserve Bank of India (RBI) has directed India’s largest private sector lender, HDFC Bank, to stop issuing new credit cards as well as the launch of new digital business, according to a company filing with the stock exchanges. You have to be adaptive during the conversation but control the flow of it. a. Selling is an art. Other options could include debit card, PayPal and bank transfers. Customers that see the value in a product are more likely to engage with the product. If you’re creative, you might be able to offer a solution that is similar to what they have mentioned by spinning the information around to suit the need. Kevan Phua is Sales Ninja’s Marketing Shinobi who specializes in online marketing and generating inbounds. Credit Cards vs. Debit Cards Better than nothing. It is not a qualification of who is the most verbose and tactful. I am Nick from the budget planning department of the (bank). Fuel Credit Card: If you own a vehicle, you must be shelling out a neat sum every month for fuel expenses. Would you like to know more about it? Everyone wants to talk to a human being and so as your potential client. I know selling credit card is not a dream job. The creditor and issuer of these cards is Elan Financial Services, pursuant to a license from Visa U.S.A. Real Rewards: You will earn net 1.5 purchase Reward Points (“Points”) for each dollar of eligible Net Purchases made with your Account within a billing cycle (equal to 1.5% cash back). 2. Regular update is mandatory. If you can … Their weak point is your strength. A credit card can help you build credit 1, make convenient payments and meet everyday expenses in your life. The answer will not mention your bank name. With your USP and using the PPSC principle (People, Product, Service and Company), you will be able to convince your prospect – no matter if you are a small company with bigger competitors. Credit card statistics from March 2019 have shown a drastic drop in credit card transactions as people shift from cash and card to e-wallets and other online methods of payments. Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. In this example, you are selling your service as a value that your competitor cannot bring to the table. They basically sell their list of small business clients to another credit card processing company. Below are my suggestions that may help every credit card agent to get the right conversion from Leads - Opportunities - Win. Good morning. One can get up to 3% fuel surcharge waiver on such card. You are an advisor or consultant. After all, most of your prospects have already a plastic in hand. To shop online using your debit card, you'll need to input the 16 … (Indian Oil HDFC Bank Credit Card, BPCL SBI card, ICICI Bank HPCL card). But this could be used to transfer money from your credit card to your bank account also. Thus, while you are being careful about your chose of words, you will come off as someone who is not convinced by his/her sale. In this way you are not losing his interest because you make him feel that his problem can be solved and managed. This means that – it’s highly likely – you’re responsible for a lot of calls that are labelled as: Unless you know how to capture their attention. Whether it be concerning the tone you need to employ, recognising their buyer signals, identifying opportunities to cross-sell or simply to be able to create a connection – learn what works and what doesn’t. This is close processing. If you don't have a money transfer credit card, you might still be able to use your current credit card to put cash in your bank account. From here, your success rate will drop from 50% (being a fair “yes” or “no”) to 25% (highly likely, a “no”). Note: Many CC agents ask immediately the salary in public when someone enquires for qualifications – VERY RUDE, REALLY! Which bank’s credit card are you using at the moment? After you got the information, make them feel that you understand their situation. Money transfer credit cards are available, which are specifically for such purposes. Or, you can try using Source.“Great! After the introduction, you should expect a reaction from the client. Make them comfortable. They are more likely to believe you and thus engage you and your product if you can communicate sincerely. Figuring out the best ways to accept credit cards online and choosing the right payment processor can be overwhelming at the beginning. Introducing yourself in a “fashionable manner” will definitely make a mark. Selling credit cards counts more towards sales goals than helping someone open up a checking account or savings account, thereby crafting skewed incentives based … Do it elegantly after all you  already get the privilege of their time so don’t be rude. If you feel that he might say no then throw your last bullet. People receive cold calls every day and with their busy schedules, they just don’t have the time to listen to what a salesperson has to say. Do not show any immediate impression you are selling a credit card. A credit card can help you manage your cash flow and make purchases you’ll pay off later. Do you mind sharing your thoughts on why you don’t think we would benefit you?”. Close the deal and follow up after release. Credit card cheques; Finance charges; All fees charged on the Card by the Bank; Transactions reversed by Merchants; Utility bill payments like telephone bills, water and electricity bills made through the Bank's payment channels like Call Center, Mashreq Online, ATM, Mobile Banking, Branches or any other Bank's payment channel.

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