CREATING VALUE. Increase Your Program s Value to Students With Outside Merchant Relationships

Transcription

1 CREATING VALUE Increase Your Program s Value to Students With Outside Merchant Relationships Presented by: Mikhail B. Ilin, Esq. Manager of Campus Card Services Suffolk University Police Department

2 Outline About Suffolk What is Value Who are the Customers Building Outside Merchant Relationships The Why and The How? Benefits To Merchants To Students To Institution Miscellaneous Topics Contracts, Compliance Checks Ethical Considerations

3 About Suffolk University Large Urban institution enrollment 10,000 across the three schools. Campus in downtown Boston. 4 Dormitories. Odyssey TPS 30+ (and growing) merchant network on UGRYD Card Vending GET CS Access Link for access control End User: Students, employees, alumni, external business owners, police and security officers.

4 About Suffolk Campus Card Services Structure Senior Vice President / Treasurer Chief of Police and Security Department Manager of Campus Card Services Security Officers Systems Administrator Campus Card Assistant HUB Student Workers

5 Value Defined Value a word / concept of many meanings Good deal How much someone is willing to pay for a good or service The regard that something is held to deserve; the importance, worth, or usefulness of something. How useful is an ID card to student? Identification and Access Token are the primary uses Tag on more services on the same card value will go up. What services: Library Card Laundry Services Purchasing in side and outside of your campus Program Goal - Deliver value to cusomers

6 Who are our customers Students Faculty and Staff Parents Internal and External business entities

7 Why Outside Merchants We have internal dining facilities, why bother with external entities? Variety provide students with options Ethnic foods Increase card usage Increase Social Goodwill Help local businesses Involve local businesses in school life. Why?

8 How to build relationships Initial outreach and merchant screening Factors to consider Location / Proximity to campus Goods/Services offered Diluting market share so what? Student Requests Merchant reputation Why? Discussing the program with merchants Applicability of the truth in advertising statues Ex. MGL ch 93A Program administration costs does your institution has a fiscal stake? Although the program has costs here is what I can do to offset them Promise only what you can deliver. bird in the hand is worth two in the bush Can you promise a 20% increase in revenue to a merchant? Why or why not?

9 How to build relationships Convincing merchants to sign up Sell the program and all wonderful features that come with it. Follow up Anticipate and be ready to answer any questions May need to give the pitch several times to manager higher on the organizational chart. Best time to do this. If you are reaching out or returning a call back Tuesday / Wednesdays after three pm. Why? If the merchant has contacted you Speak with them now if at all possible. Most Important and Frequent Question a merchant will ask is:

10 WHAT S IN IT FOR ME?

11 Benefits to Merchants Marketing the Suffolk Way Constant Contact Merchant of the week every week Twitter, Facebook, Instagram Challenges and raffles Merchant on-site visits Suffolk Night at the merchant Participation in on campus programs Taste of Boston ; Bingo Nights ; Student Leadership Luncheons; Cooking 101 Club, etc Introductory Events Sponsorships Welcome Packets Printed Materials and web site listing Your ram card is accepted here Remember! Not all merchants will participate we can make suggestions. You are required is a turn off!!!

12 Benefits to Merchants Differentiate yourself from other modes of payment. Assumption: Visa, MC, AMEX, Discover, LevelUp, Google Wallet, Apple Payment Systems, etc all charge less of a fee so why would a merchant pay more to accept your card? What is one critical leverage point that you have which no one else does? Direct Access to your student population! Word of mouth advertising

13 Benefits to Students / Parents Functional alternative to Credit / Debit Card It is an ID, Residence Hall Key, Meal Ticket, Cab Voucher Marketing in cooperation with PD going for a run leave your valuables behind carry an SU ID. Safer alternative to Credit Card / Debit Card Can you recall last time you lost your credit card What happened? Our IDs are replaced on the spot 7 am to 11 pm 365 days a year Educational and Career opportunities to our students Suffolk Internship example Special promotions and offers Consumer Protection / Truth in Advertising Statutes Who carries the burden?

14 Miscellaneous Topics Our Advertising Vision we see purpose of the program as not to have students spend more money, we merely seek them to spend money they otherwise would have spent, with our preferred financial instrument. Contracts and Compliance Checks We promote RAM card as a socially responsible way to purchase goods and services: No Alcohol No tobacco products To prove this we conduct compliance checks twice a year. Compliance check methodology.

15 Ethical Considerations How to deal with Merchant s Tokens of Appreciation Cultural differences Conflicts of interest Confidentiality What duties do you owe to a merchant?

16 Questions Mikhail Ilin Esq. Suffolk University