In this post, we’ve put together 5 major mistakes that new SMM resellers often make. Our goal is to help you avoid these missteps and make your journey smoother.
Mistake #1: Lending your clients money Sometimes, clients may ask for your services without making a payment upfront, promising to pay later. Even though it’s great to trust your clients, it’s essential to be cautious, as they might not follow through on their promise, which could leave you in a tough spot.In any scenario, lending money to your clients can result in losing both the client and the money.
To protect your business and maintain a stable professional relationship with your clients, make sure to establish clear payment terms. This way, you can ensure that both parties are on the same page.
Mistake #2: Adding too many services at once It’s natural to feel enthusiastic about introducing a wide range of services to your clients. However, managing too many of them at once can make it complicated for both you and your clients. When you add services to your SMM panel, keep in mind that you’ll need to manage each of them. This involves monitoring and updating prices, ensuring service quality, and making translations for them in case your panel runs globally. From a client’s perspective, having a large number of services can slow down the page loading speed and make it challenging to find a suitable service among thousands of options. To ensure better service quality and provide a smoother experience for everyone involved, consider a more gradual approach. Begin with basic services that you can manage effectively. Make sure that they cover your main service categories. As your business grows, you can slowly include more.
Mistake #3: Offering free balance
While in theory the idea of giving away free balance may sound like a good plan to bring more clients, in practice being overly generous can lead to financial losses and the risk of attracting fraud. Remember, whenever something is offered for free, there’s a chance it might draw users who could abuse this feature, for example, by creating numerous different accounts and accessing free balance from each of them. Our advice is to use this feature with caution and keep an eye on new user activity. Alternatively, consider offering discounts to attract clients without putting your financial stability at risk.
Mistake #4: Providing free services or setting extra low prices without min order limits Sure, lowering your prices to beat your competitors might grab some initial attention, but it’s not a stable long-term strategy. In reality, matching your prices with the provider may lead to financial losses because it doesn’t include additional costs. This could lead to spending more on the monthly SMM panel fee than you earn from orders. Here’s what we suggest: verify that your order prices cover your costs
Always set reasonable prices and consider implementing higher minimum order quantity to ensure your business remains profitable in the long run.
Mistake #5: Opening payment access for everyone New panel admins often allow card payment methods for all users, which is making it easy for malicious users to access stolen card data. For panel owners, when stolen money is used on their panel, it often leads to issues, such as charge-offs from their account or even their payment account getting frozen until the problem is resolved. Furthermore, providing broad access to some card payment processors can result in numerous fake refund requests, as they typically favor the payer in any disputes.
The solution is simple: limit such payment methods to trusted users and disable them for newcomers. For new clients, consider electronic wallets or crypto payment integrations with fewer chargeback and less risk to your merchant account.