With new merchants popping up every day, POS resellers need to constantly be on their toes. Not just acquiring new business but keeping it as well. It’s important to be knowledgeable about the latest industry trends and literally hit the ground running whether it’s at community events or via social media. According to a recent study of small businesses, 80% of a merchant’s future profits will come from just 20 percent of their existing customers. We look at keys to building a successful network and retaining it.
Attend a BNI or Networking Events
What better way to network with others in the business community than at an event tailored just for that purpose? BNI, or Business Network International, offers the opportunity to connect with future merchants in the hospitality, retail, e-commerce, and other fields. The company’s website says it best: “In today’s changing economy, the right connections are everything.” It’s okay to stick to the businesses you know best, but don’t be afraid to reach out and keep an open mind to potential new clients and new industries.