{"id":61705,"date":"2024-08-29T14:51:08","date_gmt":"2024-08-29T21:51:08","guid":{"rendered":"http:\/\/www.enxmag.com\/twii\/?p=61705"},"modified":"2024-08-29T14:57:12","modified_gmt":"2024-08-29T21:57:12","slug":"deeper-dive-nuggets-of-wisdom-for-taking-on-new-offering","status":"publish","type":"post","link":"http:\/\/www.enxmag.com\/twii\/the-week-in-imaging-twii\/editors-blog\/2024\/08\/deeper-dive-nuggets-of-wisdom-for-taking-on-new-offering\/","title":{"rendered":"Deeper Dive: Nuggets of Wisdom for Taking on New Offerings"},"content":{"rendered":"\n
\"\"<\/figure><\/div>\n\n\n\n

Selling new equipment is a lot like trying to lose weight. Suggesting to someone who\u2019s trying to trim down that they need to \u201ceat right and exercise\u201d is accurate (if trite) advice. Anyone who has shed a fair amount of pounds can attest that there is more than a few fine details that accompany \u201ctake in less and exercise more\u201d: calorie limit and counting, best exercise options and frequency, ideal weight for height, expectation-setting, optimal loss per month, etc.<\/p>\n\n\n\n

It\u2019s a lot like diversification. With unit placements and page outputs trending down, a colleague could tell you \u201cadd (insert product) or offer managed services\u201d which, on the surface, is correct. But we can\u2019t just say, \u201cmake more money selling something else\u201d and leave you hanging, right?<\/p>\n\n\n\n

Obviously, a couple of paragraphs from fellow dealers who sell what we call \u201chidden gems\u201d isn\u2019t exactly going to rescue anyone. But as we put the wraps on our State of the Industry report on non-traditional offerings, the idea is to get you thinking along different lines. What fits within the parameters of your current offerings? Is it a product\/service that your primary or secondary OEM offers? Do you know anyone else who sells it, perhaps within your peer group, who can offer insight? What percentage of your current book of business might buy into this new offering?<\/p>\n\n\n\n

The following examples can be a bit granular, but as you consider them and your own circumstances, maybe you can connect the dots toward an entirely different possibility. Once an idea takes hold, it can lead you down the path of research, and perhaps, enlightenment.<\/p>\n\n\n\n

Gaining Consensus<\/strong><\/p>\n\n\n\n

\"\"
T.J. DeBello, Stargel Office Solutions<\/figcaption><\/figure><\/div>\n\n\n\n

As with any offering, it\u2019s imperative to get a complete commitment\/buy-in from your account representatives. T.J. DeBello, vice president of sales for Houston-based Stargel Office solutions, underscores the importance of education and training when it comes to a catalog addition such as label printers. He uses monthly touch points with reps to tout the possibilities for recurring revenue. As it\u2019s not as lucrative an opportunity as a copier would yield, a dealer needs to bake minimums into quotas. Incenting with a bonus at year\u2019s end will strengthen that approach.<\/p>\n\n\n\n

A $500 thermal printer that yields a 20% margin may not excite a rep, but the 40% take on substrates, ribbons and other monthly supplies makes it a more attractive proposition. \u201cWe\u2019ve got to compensate those reps, and we pay them 10% on the monthly recurring revenue for 12 months of a 36-month contract,\u201d DeBello noted. \u201cIt\u2019s important to not have them overlook the thousands of dollars we can get on the back end from a $500 thermal printer.\u201d<\/p>\n\n\n\n

\"\"
Kyle Elliott, Spectrum Technologies<\/figcaption><\/figure><\/div>\n\n\n\n

Taking the plunge into business process optimization need not be an actual \u201cplunge,\u201d according to Kyle Elliott, president of El Paso, Texas-based Spectrum Technologies. Those dealers wishing to enter that realm can do so slowly, and it doesn\u2019t necessarily mean taking on a client\u2019s end-to-end workflow on the first engagement. Or ever, for that matter.<\/p>\n\n\n\n

\u201cStart simple. Focus on one departmental inefficiency that if you could fix, it would be a win for them,\u201d he said. \u201cOne example is helping an HR department map out a more efficient way to onboard and offboard their people through a workflow.\u201d<\/p>\n\n\n\n

\"\"
Adam Ramberg, Marco<\/figcaption><\/figure><\/div>\n\n\n\n

The decision to branch out into IT in an effort to snare more clients is certainly an avenue for those who can absorb the initial costs and are patient with their ROI expectations. The full managed IT catalog, however, can be a tall task, and Adam Ramberg\u2014director of IT consulting for Marco of St. Cloud, Minnesota\u2014suggests a scaled back and more focused approach.<\/p>\n\n\n\n

Choosing one\u2019s partners carefully cannot be overstated, particularly when it comes to security protocols. \u201cA client that doesn\u2019t take cybersecurity seriously and refuses to take reasonable action to protect themselves may also be the same type of client to blame you when they get themselves into trouble,\u201d he cautioned. \u201cLong-term IT relationships are different than long-term print relationships, and dealers should understand this before rushing into one.\u201d<\/p>\n\n\n\n

Partner Prowess<\/strong><\/p>\n\n\n\n

\"\"
Dave Moorman, Novatech<\/figcaption><\/figure><\/div>\n\n\n\n

While we\u2019re on the subject of managed IT, the technology provider a dealer chooses to align with is no less important. A dealer such as Novatech, which markets a managed office platform, wholeheartedly endorses ConnectWise as its partner of choice. The Nashville, Tennessee-based dealer has conducted webinars in conjunction with the IT software and services specialist, and purchases many of security technologies through ConnectWise.<\/p>\n\n\n\n

According to Novatech President and CISO Dave Moorman, a dealer can partner with a firm like ConnectWise while in the process of developing their own internal competencies and platform. Novatech has a dedicated security team and relies on ConnectWise for software, training and other elements.<\/p>\n\n\n\n

\u201cOne of our strategies is there’s certain things that require a specific level of complexity,\u201d he said. \u201cIf we can partner with a company that handles that level of complexity, it gives us more time to be out talking to customers, building solutions, deploying and maintaining.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Selling new equipment is a lot like trying to lose weight. Suggesting to someone who\u2019s trying to trim down that they need to \u201ceat right and exercise\u201d is accurate (if trite) advice. Anyone who has shed a fair amount of pounds can attest that there is more than a few fine details that accompany \u201ctake in less and exercise more\u201d: calorie limit and counting, best exercise options and frequency, ideal weight for height, expectation-setting, optimal loss per month, etc. It\u2019s a lot like diversification. With unit placements and page outputs trending down, a colleague could tell you \u201cadd (insert product) or offer managed services\u201d which, on the surface, is correct. But we can\u2019t just say, \u201cmake more money selling something else\u201d and leave you hanging, right? Obviously, a couple of paragraphs from fellow dealers who sell what we call \u201chidden gems\u201d isn\u2019t exactly going to rescue anyone. But as we put the wraps on our State of the Industry report on non-traditional offerings, the idea is to get you thinking along different lines. What fits within the parameters of your current offerings? Is it a product\/service that your primary or secondary OEM offers? Do you know anyone else who sells it, perhaps within your peer group, who can offer insight? What percentage of your current book of business might buy into this new offering? The following examples can be a bit granular, but as you consider them and your own circumstances, maybe you can connect the dots toward an entirely different possibility. Once an idea takes hold, it can lead you down the path of research, and perhaps, enlightenment. Gaining Consensus As with any offering, it\u2019s imperative to get a complete commitment\/buy-in from your account representatives. T.J. DeBello, vice president of sales for Houston-based Stargel Office solutions, underscores the importance of education and training when it comes to a catalog addition such as label printers. He uses monthly touch points with reps to tout the possibilities for recurring revenue. As it\u2019s not as lucrative an opportunity as a copier would yield, a dealer needs to bake minimums into quotas. Incenting with a bonus at year\u2019s end will strengthen that approach. A $500 thermal printer that yields a 20% margin may not excite a rep, but the 40% take on substrates, ribbons and other monthly supplies makes it a more attractive proposition. \u201cWe\u2019ve got to compensate those reps, and we pay them 10% on the monthly recurring revenue for 12 months of a 36-month contract,\u201d DeBello noted. \u201cIt\u2019s important to not have them overlook the thousands of dollars we can get on the back end from a $500 thermal printer.\u201d Taking the plunge into business process optimization need not be an actual \u201cplunge,\u201d according to Kyle Elliott, president of El Paso, Texas-based Spectrum Technologies. Those dealers wishing to enter that realm can do so slowly, and it doesn\u2019t necessarily mean taking on a client\u2019s end-to-end workflow on the first engagement. Or ever, for that matter. \u201cStart simple. Focus on one departmental inefficiency that if you could fix, it would be a win for them,\u201d he said. \u201cOne example is helping an HR department map out a more efficient way to onboard and offboard their people through a workflow.\u201d The decision to branch out into IT in an effort to snare more clients is certainly an avenue for those who can absorb the initial costs and are patient with their ROI expectations. The full managed IT catalog, however, can be a tall task, and Adam Ramberg\u2014director of IT consulting for Marco of St. Cloud, Minnesota\u2014suggests a scaled back and more focused approach. Choosing one\u2019s partners carefully cannot be overstated, particularly when it comes to security protocols. \u201cA client that doesn\u2019t take cybersecurity seriously and refuses to take reasonable action to protect themselves may also be the same type of client to blame you when they get themselves into trouble,\u201d he cautioned. \u201cLong-term IT relationships are different than long-term print relationships, and dealers should understand this before rushing into one.\u201d Partner Prowess While we\u2019re on the subject of managed IT, the technology provider a dealer chooses to align with is no less important. A dealer such as Novatech, which markets a managed office platform, wholeheartedly endorses ConnectWise as its partner of choice. The Nashville, Tennessee-based dealer has conducted webinars in conjunction with the IT software and services specialist, and purchases many of security technologies through ConnectWise. According to Novatech President and CISO Dave Moorman, a dealer can partner with a firm like ConnectWise while in the process of developing their own internal competencies and platform. Novatech has a dedicated security team and relies on ConnectWise for software, training and other elements. \u201cOne of our strategies is there’s certain things that require a specific level of complexity,\u201d he said. \u201cIf we can partner with a company that handles that level of complexity, it gives us more time to be out talking to customers, building solutions, deploying and maintaining.\u201d<\/p>\n","protected":false},"author":166,"featured_media":61706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[80,1650,82,1638],"tags":[1480],"_links":{"self":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/61705"}],"collection":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/166"}],"replies":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=61705"}],"version-history":[{"count":3,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/61705\/revisions"}],"predecessor-version":[{"id":61710,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/61705\/revisions\/61710"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media\/61706"}],"wp:attachment":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=61705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=61705"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=61705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}