Credit unions are well-positioned to offer valuable merchant services to their business members. However, it’s essential for credit unions to continuously adapt and seek innovative approaches to maintain their edge. One key area of opportunity is increasing referrals for merchant services. One way to do this is by regularly checking in with business members and asking about their satisfaction with their current provider.
By asking the right questions, credit unions can identify pain points and opportunities to provide tailored solutions that meet their members’ unique needs. Here are some key areas to explore when speaking with business members:
Pricing: Are your members happy with the pricing of their current merchant services provider? Are there any hidden fees or unexpected costs that are impacting their bottom line? By understanding your members’ pricing concerns, credit unions can offer competitive pricing and even price-matching to win over business.
Support: How satisfied are your members with their current provider’s level of customer support? Are they able to get help when they need it? By offering robust support options, credit unions can provide a competitive advantage that can help win over business members.
Solutions: Are your members using a merchant services provider that meets their unique needs? Are there any features or services that are missing that they wish they had? By understanding your members’ needs, credit unions can offer tailored solutions that are designed to meet their specific needs.
White Labeling Options: Does your credit union offer white labeling options for its merchant services? Do your members know that this is an option? By offering white labeling, credit unions can elevate their brand presence and create a seamless experience for their business members.
By regularly checking in with your business members and asking about their satisfaction with their current merchant services provider, credit unions can identify pain points and opportunities to provide tailored solutions that meet their members’ unique needs. This approach can help build trust and deepen relationships with your members, ultimately leading to more referrals for your merchant services.
To learn more about Payfirma and how we can be your credit union’s strategic partner, call us at 1-800-747-6883 or email us at [email protected].