Five Time-Tested Ways to Get an Edge in a New Office Marketplace

In an industry that’s expanding services and bringing new capabilities to market more rapidly than ever, office technology dealers are even more focused on evolving from copier sales toward production print, security, networking, and other as-a-service, value-added capabilities.

But moving into new offerings can be harder than it looks.

Expanding into these service areas exposes longtime dealers to new buying groups, new decision-making behaviors, and a whole host of new competitors that don’t align with the established sales approach of the office technology industry. And all this newness leaves many dealers questioning their go-to-market strategies and techniques. Are they still the best way to go in today’s marketplace?

It’s a good question to ask. But it’s important to recognize that IT VAR sales culture is evolving, too. So, while embracing new value-added capabilities is essential for continued success, breaking into these areas and winning may not require a complete change in your sales and marketing culture, tactics, or systems.

In fact, holding onto the best of what got you where you are now could put you into a stronger position for what’s next.

“Our transition into security, networking, and broader IT services was transformative but not easy. We chased ‘me too’ offerings of traditional IT VARs and struggled. It was only when we embraced our leasing roots that we began to disrupt the regional competitive landscape,” said a $300 million office technology dealer principal.

So how can you build something new on the bedrock of your traditional strengths? A good place to start is by taking a look at your financing program and the long-established practices that surround it. Here are five tips for leveraging those old standbys to help you break into new product offerings more easily and successfully:

1. Keep leading with a payment. In the traditional IT VAR world, only 9% of quotes include a payment. But in the office technology business, 93% of all quotes include a payment. There’s a reason for that: research has shown that sales teams that lead with a payment are six times more likely to reach their goals. Just because you’re offering IT solutions doesn’t mean you should abandon this tried-and-true way to build bigger opportunities and close faster. In fact, given all the budget challenges customers face now, you should probably double down on it.
2. Don’t stop selling financing. Why do so many IT VARs leave payments out of their quotes? The truth is that 74% of IT VARs don’t include a payment simply because selling the finance process makes them uncomfortable. But you know that selling financing has worked for decades, and it will work for a long time to come. And embracing this when other dealers let it slide can give you a strong competitive advantage.
3. Bundle everything with monthly payments. Who knew the bundled hardware/service/supplies/materials financing you’re so familiar with could be a ticket to win against new competitors? Traditional IT solutions might include installation, configuration, ongoing service, networking hours, and multiple brands of IT assets, but buyers rarely see solutions that bring them all together for a single monthly payment. In a recent survey of over 1,100 IT VAR customers, only 11% were aware there could be a bundled payment solution.
4. Lean into marketing the power of payments. With so few traditional IT sellers proactively using payments and bundled solutions as a way to earn business, broader marketing tactics introducing the affordability factor could open new doors and insulate against competitors that don’t have a lot of practice or interest in offering lease alternatives. In the same survey of 1,100 IT VAR customers, 68% would seriously consider a provider that offered a bundled payment solution. Dealers that proactively market this capability are likely to stand out with these customers.
5. Flex your as-a-service muscles. As-a-service is increasingly popular among technology buyers, and when done well, it can be a strong profit driver. More recurring revenue, more repeat business, and stickier relationships with greater lifetime value are just a few of the benefits. Most office technology dealers are in the early stages of implementing these kinds of solutions, but they’re still miles ahead of traditional IT VARs. In recent research, office technology dealers are nearly three times more likely than IT VARs to be focused on building unique as-a-service capabilities.

Change is inevitable. And that’s a good thing because with all that change comes opportunity. But as you move to offer new capabilities, don’t be too quick to leave behind the core elements that have powered the office technology industry for decades.

Payments have never been more important. And with the right leasing partner, your finance program could be a key advantage in showing the new guys on the block how it’s really done.