Prepaid Card Co's: Build Trust Through Company History
Whether you’re fighting a prepaid card provider or simply the skepticism of a prospective cardholder, your company needs to bring every weapon it has to the sales process. Along with commonly used tools like testimonials and awards, your company’s history and the track record of your executives can provide a strong push to your close rates.
How is trust built by a Prepaid Card Provider?
Along with the standard perspective of proof of success (testimonials) with existing cardholders, a card company’s history with respect to a customer category can serve as a powerful trust builder with prospects. We’ve seen many examples of financial companies using their history as tactical tool to position against both competitors and buyer skepticism.
A Useful Question To Ask:
What is the underlying aspect of buying behaviour which can be helped by presenting your history?
Often buyers are unable to fully assess the features of a product against their needs. It might be the result of inexperience, lack of knowledge of the area or simply a lack of willpower. As a result, they look for shortcuts in the buying process: one of which is trusting a company to provide the right solution for their situation.
Part way through a successful sales cycle, the mentality of a prospective cardholder can switch from resisting to being positive toward your products. They will look for reasons to trust your ability to deliver value to them. This is the opportunity to utilize key elements of your history to demonstrate credibility:
- Does your company have a long history with particular prepaid card customer segments?
- Has your management team spent years decades in their field and bring a wide expertise in the financial services area?
- Does your company history stand out from the competition in some areas (even compared to larger competitors)?
Trust: From Enemy To Friend
The trust factor initially can be an enemy in your effort to secure new registrations. But when trust is built, it will lead some prospects to rely on your ability as a company to deliver. That can often shorten the sales cycle as less emphasis placed on line by line assessment of your training programs.
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