Case Study
Merchant Chimp is a newly founded payment processing company out of LA, CA, that saw an opportunity to scale their offices with Morph. The relationship between Morph and Merchant Chimp started shortly after MC was founded, so the idea was to build the entire MC team within Morph.
Between the standard obstacles that come with cold calling and the fact that MC had not developed any of their processes and sales scripts yet, the goal was for morph to plan out and execute the entire process of selling, along with all the technicalities that follow a closed deal.
Every day at Merchant Chimp we experience possibly the best customer service of all time. From Luke and Michelle’s management staff creating tools and documents to help us stay organized for going above and beyond for Merchant Chimps clients to ensure they are completely satisfied.
Morph has improved workflow for our staff and is always a pleasure to work with. We continue to be impressed daily by the staff, their professionalism, and dedication to every task.
Merchant Chimp’s needs weren’t as straightforward as standard outsourcing, which usually means incorporating an already developed workflow using the client’s training manuals and guidelines to streamline the process. This time around, it was up to us to develop everything our offices needed, from scratch. Doing something like this for an industry we had no experience in was a tough job. Additionally, cold-calling is not a method of sales that Morph has ever done, but with a meticulous approach to learning about the payment processing industry, as well as our combined experience in traditional sales and consulting, we were confident that the project would be a success.
We didn’t see real potential in focusing on the volume of calls and the companies we’re able to reach; but rather in doing proper research before calling every single client –
their industry, their level of success, the speed of their progress, their goals etc.
From there, it was a matter of tailoring each offer to the specific needs of Merchant Chimp’s potential clients.
This resulted in making less calls, but with a substantially higher closing rate.
With the (reasonably correct) assumption that cold calling is met with resistance, and that it, frankly speaking, annoys clients; we wanted to implement a pitch that, with doing enough homework, turns a cold call into something else entirely – a call from an agent that obviously has a deeper understanding of what the client needs.
By putting the clients’ needs above all else, and truly working toward the best possible solution for them, Merchant Chimp’s sales and profitability skyrocketed, and things started to quickly move in the right direction.
BOOST IN CLOSED DEALS
DROP IN OVERHEAD EXPESNSE
DROP IN CHURN RATES
Over the course of 6 months from starting the project, Merchant Chimp saw a 300% boost in closed deals, a 60% drop in overhead expense, and a drop in lead churn rates by a staggering 40%.
To put it simply, Morph delivers three quarters of Merchant Chimp’s total sales, while burning half as many leads as their in-house sales team.
Most importantly, we do it at less than half the budget needed to run the in-house sales team.
Today, the Merchant Chimp branch at Morph is growing at a healthy pace, along with our client’s monthly revenue.
We’re happy and proud that this is the case, as it shows that a detailed, educated approach beats blunt force and volume – an approach that is present in everything we do.