Every January we feel the surge of a new year beginning with the perennial optimism that comes with company kick offs, sales meetings and other events to start the new year. This year, the number one question we’ve been asked so far is…
What are the elite Managed Print companies doing to grow pages under contract this year?
If you believe the adage ‘success leaves clues’, here’s what you can do to follow in the footsteps of what the top performers are doing right now:
1. Understand your actual costs
Gaining an accurate insight into your actual cost per page means much more than just calculating the price and yield of a toner cartridge. Fulfilment errors, overstocking, waste and premature cartridge replacement are all examples of what elite MPS providers are now tracking to maximize profitability. If you don’t have a way to measure your actual “hidden costs-per-page”, let us help you calculate where you can quickly add margin by correcting common intolerances that can be easily avoided.
2. Get stickier with customers with value add services and MPS apps
Customers want you to do more than just deliver toner and show up once in a while to fix their printers. Progressive dealers are adding value add services to improve the customer experience, make them more productive and/or save them money. For example, some MPS providers are now leveraging our new app that allows end users to track usage, order supplies and monitor device status – all from their phones. Many MPS resellers are also accelerating their commitment to helping end users recycle their used print cartridges which is perceived as a real value add as organizations place more and more emphasis on reducing their carbon footprint.
3. Improve the MPS content on your website
You’ve probably already heard the stats, but they are worth repeating. According to Gartner, over 80% of B2B buyers will perform an online search as part of their buying process and the OEMs are now reminding their dealers that their B2B buyers are now 57% into their buying process before engaging a live sales rep. That’s because they’re on your website, so it simply must be great. Today’s Imaging Reseller website needs to be properly optimized for Google Search, have active social media channels, a blog and a way to generate sales leads. More and more dealers are starting to outsource their website to professionals that offer industry specific Digital Marketing Services with a return on investment you can finally measure!
4. Train your salespeople to sell MPS
Do ALL your sales reps have the necessary skills to articulate your Managed Print value proposition? The shift from selling a product to selling a service can be difficult for some sellers without formal industry training. Top reps understand the pain points related to office printing and are able to exploit those imperfections to create more selling opportunities. To date our Peak Performance System has trained over 4,000 Managed Print sales professionals on how to sell MPS. For what it’s worth, we’ve found that most salespeople tend to sell less of what they don’t feel comfortable selling. By training your entire salesforce, you will immediately improve your people’s confidence and their ability to generate more sales leads that can be converted to monthly recurring profit.
5. Train your technicians to repair printers
Sometimes the investment in service training tends to take a back seat to other training priorities. Experienced dealers know that a trained technician is significantly more profitable than an untrained technician. They also know that you now have a nice mix of live training and online service training options that can keep the techs in the field and avoid travel expenses. In almost every case, dealers tell us printer service training packs a lot of profit to their bottom line. Less parts, less call backs, happier customers and less hassles. If you haven’t trained your techs on how to properly repair popular printer makes and models, chances are there may be a significant payback opportunity on service training.
Do you already have any of these best practices as New Year’s resolutions?
Perhaps now is the time to select one or two areas you believe would make the biggest impact to your top and bottom line – and act right away.
If you’re looking for more detail on these best practices or additional ways to grow your Managed Print business - we’re ready when you are.