Should merchant service providers attend trade shows?

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Should merchant service providers attend trade shows?

Whether or not to attend trade shows is a typical question that comes up among merchant service providers. The fact is, there is no simple yes or no answer. One has to analyze the cost to make a decision on whether the outcome will justify the expense.

 

There are five different trade shows in the world of merchant processing. The regional shows include those hosted by the Northeast Acquirers Association (NEAA), Southeast Acquirers Association (SEAA), Midwest Acquirers Association (MWAA) and the Western States Acquirers Association (WSAA). The Electronic Transactions Association (ETA) hosts the national show. To decide which to attend, it is good to have an understanding of the differences of what makes each show different.

 

 

Regional or National?

The regional shows are much smaller than the national show, and are even tailored to smaller ISO or MLS. In a large national show, smaller merchant service providers may be overloaded with an abundance of information – more than they can take in. However, in a smaller, regional show, they may leave with more great ideas for selling credit card processing solutions and information about the future of the industry.

 

Who should attend the show?

The more experienced the merchant service providers, the better. Although this may seem counterintuitive, it’s true. Trade shows will be filled with experts who understand the industry as well as the lingo. Attending a trade show before you’ve been in the business for a few years can be overwhelming. If you are overly excited to get started with trade shows and learning as much as possible, try working with a processing mentor for a year to increase you knowledge of credit card processing solutions beforehand.

 

Considerations Before Registration

Budget: Travel and hotel expenses can add up and they are the two largest expenses associated with regional shows. Typically, regional shows are inexpensive to attend as they generally only last one day. If the venue is close enough, you may even save more money by not having to book a hotel room.

 

 Expectations: Decide beforehand what you plan to take away from a specific show. Are you looking for any highly specified information? Have these goals and objectives in mind and remember that a trade show is a learning experience, not a vacation.

 

Look up any specific speakers prior to attending the show and come fully prepared to take notes. You may find yourself with many new credit card processing solutions and ideas. However, be sure to compare the possible takeaways with your budget to ensure that what you will be getting out of this outweighs the cost of attending – especially for national trade shows. 

It will be easy to get swept up in meeting new people and visiting the exhibits, but be sure to keep your goals in mind throughout the entire show.

 

About The Author

Jeff Fortney is Vice President of ISO Channel Management at Clearent. His financial services career stretches back over 35 years, with the last 17 years being focused in the debit and credit card processing industry. Clearent offers a variety of credit card processing solutions, including wireless options and next day funding. Find out how the right merchant service providers can make a big difference for your customers.