In the office technology industry I serve, we talk about Machines-in-Field (MIF). Every 3-5 years the leases on these machines expire or the machine wears out. Sales reps “flip the MIF” when they upgrade customers to new equipment.
MIF-flipping plays a critical role. After all, we need to maintain our customer base. However, we also work in a mature market. That means that average selling prices are dropping faster than cost of goods. Each year the delta between sales price and cost gets squeezed a little tighter.
What does that mean?
Companies and sales reps that have historically depended on MIF-flipping will suffer a slow and painful decline.
Some businesses are counteracting the revenue decline by purchasing more MIF to flip. The top line revenue of these businesses look good, but ultimately, these businesses will also feel the pain. (more…)
“All the storytelling we do requires frequency. You’ll try something new, issue a statement, explore a new market… and when it doesn’t work right away, the instinct is to walk away and try something else. But frequency teaches us that there is a very real dip–a gap between when we get bored and people (our clients, prospects, and employees) get the message.”
– Seth Godin, This Is Marketing
As business owners and sales professionals, we tend to give up too soon. (more…)
Every dealership wants to grow net-new business. However, using field sales reps as the sole source of prospecting leads to inconsistent results. That’s why most technology companies outside the office equipment industry have inside sales teams with Sales Development Reps (SDR’s) focused exclusively on developing new business opportunities.
As we’ve been coaching and equipping inside sales teams with the latest automated prospecting strategies combined with monitoring market triggers, I’ve become more and more convinced that inside sales team are an effective strategy for dealers who want to grow new business. Here’s why:
As competitive dealer principals, sales leaders, and sales reps, we all want to win. But in our highly commoditized industry it can be hard for buyers to differentiate between products that seem to have the same features and dealerships that all promise to deliver great service.
How do you differentiate in this marketplace? You need to resonate! (more…)
Current research shows that 93% of B2B technology buyers look to Google as their first source of information. Given that reality, business owners that want to succeed need to consider their Search Engine Optimization (SEO) strategy.
The good news is that Search Engine Optimization works. You can get ranked in your local market. And this will deliver results. (more…)