Hello, A large Retail investment bank is interested in using our services to revamp its IT Systems for its credit card reward/ loyalty points. As part of our proposal we need to on-board a few large merchants ( for example Best Buy, Staples etc) that will accept this Bank reward points on its checkout site.
What is the best way to approach these merchants ? Which department/org of the merchant typically deals with reward points and business development with retail banks.
How do I approach these Merchants ?
What kind of help we can hire that will help us in capturing these merchants.
What you are looking for are SAM. Strategic Account Managers. These individuals are more flexible to conversations that Strategic Buyers or any other purchasing department. SAMs are reponsible for maintaining existing relationships with key vendors or buyers so that would be a good start for you.
Same thing when you hire, I think you are looking for a SAM :)
Usually it's the marketing department that will handle this at mid size companies. I would straight up cold email them to see if they're interested in participating and even if they're not interested, I would ask what would they like to see as a merchant in a product like yours. That way you will learn a lot about what merchants are actually looking for.