LMI BLOG

The LMI News! Year-In-Review Now Online!

Posted by Gary Willert on Thu, Nov 06, 2014 @ 10:44 AM

LMI News

NOW PLAYING!.....Click below to view the LMI NEWS, a quick 2 minute video recap of 2014 activities and events that will give you an unfair advantage over your competition as an LMI partner.  Enjoy – we’d love your feedback on this new medium!

Read the LMI News!

Hello I’m Shannon with the LMI News. It’s been a positive year of growth for the company and our dealers this year starting in January with the launch of our all new MPS Peak Performance 2.0 system. A turnkey MPS Sales Training and Marketing system that’s now trained almost 3,000 sales people and helped hundreds of LMI dealers to generate more leads, win more deals and make more money.

In March, LMI was awarded an elite level of R2 certification that’s helped LMI dealers differentiate themselves when selling to MPS prospects and vertical markets now demanding advanced sustainability and zero landfill recycling services.

In April, LMI was the proud recipient of INTEC’s "Supplier of the Year" and as you may recall June and July was when LMI President Gary Willert formally announced the acquisition of Global Printer Services and Printersdirect, arguably two of the most respected printer remanufacturers in North America positioning LMI as the industry’s first manufacturer direct relationship for top quality remanufactured printers and consumables.

To meet the increase in dealer demand, LMI responded in September with a new state of the art distribution center in the Chicago area to serve dealers and their customers faster than ever before.

And in October, LMI continued to demonstrate their commitment to partner success with the recent launch of the brand new partner website at RayMorgan.com. Recognized as a national leader, RMC has immediately improved their ability to get found by today's online buyer and convert those site visitors into potential customers that will grow their business.

And that’s the LMI News. I’m Shannon signing off now. Thanks for joining us!

Click below to get your 7 Myths vs Realities Remanufactured Printer Whitepaper or find out about our MPS Peak Performance 2.0 - Training & Marketing Solutions.

7 myths vs realities                 What is PPS 2.0?

            


Tags: remanufactured printer, toner cartridge recycling, how to grow MPS business, print assessment, remanufactured cartridge, toner cartridges

Official Managed Print “Win Rate” Checklist - How Do YOU Stack Up?

Posted by Gary Willert on Thu, May 15, 2014 @ 09:55 AM

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In today’s tough economic climate, your business needs to stand out from all of your competitors. There are a lot of companies selling Managed Print Services, what makes your company different? Here’s a breakdown of five areas that are often overlooked, but play a huge role in making your business shine!

1.  As more business now begins online, you’ll need a strong website.

Today, your website is your new storefront. Study after study has found that 80% of customers search online before engaging a seller. Customers have already researched and formed a strong opinion before ever engaging. If you’re selling MPS, it needs to be prominently placed on your website, noticeable and easy to find on your home page.

2.  You need to have a persuasive presentation online and off.

Today’s consumer is more savvy and educated than ever before. You need to convince them that you have the solution to resolve their pain point. Keep the message simple avoid text laden PowerPoint slides. Explain the benefits of Managed Print Services and offer to schedule a print assessment.  You are your presentation, your props, your voice, your body language and your message. This combination leads to success!

3.  Be prepared for objections, be ready to respond.

Is your sales team ready for objections? Practice makes perfect. Try teaming your sales reps for a little role playing. Have one assume the role of customer and hit the other with the real life resistance that they’d encounter on a pitch. How did they do? Prepare your team to deal with objections.

4.  Put your suppliers in place. Have manufacturers access to high-quality remanufactured cartridges.

The cornerstone of any Managed Print Services program is access to high-quality, low-cost toner supplies. Toner is only one aspect of consumables in a managed print services program, but it makes up to 70% of cost per page and 70% of your profit opportunity as well.  Your toner partner is critical to your profit. High-quality cartridges can minimize service costs due to poor quality toner.

5. Provide an easy to use cartridge recycling program.

You can provide added service and encourage sustainability by putting a recycling program in place. Selling green can be the game changer. Out position your competitor with a turnkey recycling program. Studies have shown that 60 – 80% of all cartridges end up in landfills where they can take up to 1000 years to decompose.

When selling your Managed Print Services program against your competitor, think less about what is different, or what you think is special. Become customer-centric. Think about what they value during all stages of their buying process. Understand and address their pain points. Start by making your website catch their attention and provide them with value. Then prepare a persuasive sales pitch, be prepared for objections, make sure your suppliers are on board and offer value like a turnkey recycling program. If you take these steps, you’ll see your results soar!

Click here for your free e-book on how to jumpstart your MPS sales in 30 days:

Jumpstart MPS sales

 

 

 

Tags: zero landfill program, MPS, print assessment, remanufactured cartridge, Managed service providers, toner cartridges

Time to Go Back to School on MPS Profitability!

Posted by Gary Willert on Thu, Sep 05, 2013 @ 02:14 PM

LMI backtoschool

Stat: “Toner represents 80% of the profit opportunity in Managed Print Agreements”

Some may say it's labor; some may say it’s something else. I think we can agree that it’s not the hardware driving the profit margins any more. It’s the service you wrap around your product that creates the value in today’s “services led” business model.

In most cases, selling a service (opposed to a product) allows you to mask margins and commit customers to pay you over a longer period of time. Not just recurring revenues for your business, but recurring profit streams as well. This is not a new concept but it sure makes a lot of sense with the amount of commoditization and channel saturation many of our MPS dealers are experiencing with hardware.

So how do you make the big bucks in Managed Print?

Ask some the the top dealers in the Unites States. At LMI, we are fortunate enough to call many of them our customers. If you asked them how they have achieved the margins they have, they would probably all suggest that you “partner wisely” for your core consumable – toner. This is because they realize that the toner component of their cost-per-page models drive up to 80% of their profitability.  Yes, 80% of the bottom line profit in most Managed Print agreements.

So since it’s September, and many of us are sending our little ones back to school, maybe it’s time you rethought your toner strategy to make sure you’re on the road to maximum profit per page.

In addition to a fair price per cartridge, here are some important factors when it comes to effective toner management and profitability:

  • Ease of ordering – is there automation and integration with your ERP system?
  • Online Tracking – can you see your order status?
  • Fulfillment Speed – where are distribution facilities located?
  • Order Accuracy – can you place a specific name and location on the toner box?
  • Packaging and Labelling - can you “brand” the cartridges as your own?
  • Blind drop shipping – why warehouse inventory of you can have it shipped direct?
  • Recycling Programs – can you differentiate yourself with a better recycling program?
  • Return Policies – what is the vendor’s track record of making returns easy?
  • Color & monochrome – Can you get both quality products from one toner vendor?
  • Yield – this is critical for profitability, when’s the last time you performed a test? 

And arguably of course, the most important determining factor in your profitability is the overall performance and print quality of the print cartridge.

With the effort required to secure a new MPS customer these days, the last thing you want to do is disappoint your contact or their end users with toner issues. If you’ve been in the Managed Print business for a while, you know complaints about leakage, inconsistent quality or yield can be extremely time consuming and expensive issues to resolve. Never mind putting your Managed Print Program at risk.

There is an old saying “Success Leaves Clues”, and if you are wondering how the to drive more profitability from your current and future Managed Print contracts, maybe it’s time to go back to school and see if your toner is really working for you or against you.

Click here for your free e-book on how to jumpstart your MPS sales in 30 days:

Jumpstart MPS sales

 

Tags: LMI Solutions, managed print services, print cartridge recycling, toner cartridges, control print costs

Do You Know Where Your Used Cartridges Are Going?

Posted by Gary Willert on Wed, Jul 17, 2013 @ 12:59 PM

What happens to your recycled print cartridges?

In the last 90 days, we have had the opportunity to present our new ZERO LANDFILL Cartridge Recycling Program to hundreds of dealers at some of the industries most recognized MPS conferences.

At each event we asked MPS providers this basic question;

Do you know what happens to the used print cartridges that are removed from your customer’s office as part of your recycling program?

SURVEY RESULTS:

417 – MPS Dealers did not know

3 – MPS Dealers could articulate what happens

The shocking reality we found is that nobody really seems to know.

If you’re like many of our MPS dealers who promote our complimentary toner cartridge return programs, or the sustainability attributes of an LMI remanufactured monochrome or color toner cartridge over an OEM cartridge, we think you and your reps may want to be prepared to explain your cartridge recycling program in more detail. In fact since we raised the topic, many of our dealers are telling us that more and more of their MPS prospects are starting to request definitive information on the vendors recycling practices within their RFPs as they shortlist potential managed print vendors.

If you are questioning if your sales representatives may soon be asked to explain your cartridge recycling program in more detail, Google the term “Managed Print Services Request For Proposal” in your area and look at some of the questions being asked to measure a vendors ability to align with the organizations sustainability objectives. A low cost per impression may win some MPS deals but combining a fair price with a strong recycling program may provide you with that “Unique MPS Selling Proposition” you’re looking for to separate yourself from competition.  This will help you win more pages under contract to build that recurring revenue and stickiness you want from your MPS business.

As you may know, we recently launched our turn key ZERO LANDFILL cartridge recycling program for LMI dealers supported by the industries first ZERO LANDFILL SALES KIT . The purpose is to provide our LMI dealers and their sales reps with compelling prospecting tools featuring industry statistics, client presentations, and a branded video for your website to clearly articulate what a true Zero Landfill recycling program includes and how it could benefit an MPS prospect.

So the question is - Do you think your salespeople are prepared to answer the question above?

We think we can help if you don’t.

Please share your comments and questions about toner cartridge recycling with us!

 

Click here for your free e-book on how to jumpstart your MPS sales in 30 days:

Jumpstart MPS sales

Tags: toner cartridge recycling, zero landfill program, MPS provider, print cartridge recycling, toner cartridges

Top 5 of 10 MPS New Years Resolutions! (Part 1 of 2)

Posted by Gary Willert on Thu, Jan 17, 2013 @ 08:30 AM

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Every year most of us raise a glass or tip our hats to something we plan to change in our lives or in our business. We all have good intentions don’t we? Unfortunately stats indicate that less than 20 percent of us will actually follow through on our personal commitments by the time the calendar flips to February.

So we thought we would ask – How are your 2013 MPS New Years Resolutions coming along? Hopefully you’re part of the elite 20% who are making things happen! And for those of you who may not have made any resolutions regarding your managed print business, we thought you’d like to see the first 5 of our top 10 list that other US and Canadian MPS providers are committing to do this year.

  1. Exploring IT Services: If you’ve read any of the trade magazines, followed the blogs, or just been alive for the last 6 months – you know there is a growing buzz about Managed IT Services. The benefits make sense, the question most of our dealers ask us is - How do I get there? And next week in Phoenix, we are proud to join our fellow Technology United members to unveil some of the latest technology enables and solutions to help you become an MSP (Managed Services Provider). The goal of next weeks conference is to provide dealers, IT VARs, and Office Products Retailers with practical information and workshops to expand their recurring revenue streams and elevate their value in any account.
  1. Focusing on High Margin Color Pages: If you’re experiencing early signs of commoditization on the monochrome pages in the fleets you’re bidding on, perhaps now is the time to bring more high margin color into the mix by targeting more of those juicy high margin color opportunities. Without question, there is huge opportunity to grow your profits this year with more color pages under contract.
  1.  Investigating Blind Drop Shipping: If you haven’t joined the shift already, maybe now is the time to rethink your supply chain management process. Next week at the Technology United Executive Connection Summit in Phoenix on January 22-24 , we will be sharing how one of our top dealers has revolutionized their traditional “bricks and mortar” onsite inventory model to a blind drop ship fulfillment model to speed up delivery and add to their bottom line.
  1.  Updating Your MPS Value Proposition: If you asked your salespeople why someone should select your MPS program over a competitor, what would they say? You know how much your business has changed in the last year and you have to believe that your competition has as well. This is why so many of your peers are creating a 2013 MPS value proposition that is fresh and compelling instead of repurposing what they used in 2012. Ask one of you reps to see if this should be one of your MPS resolutions!
  1. Hiring the “Right People”: From our experience working with over 700 MPS providers in all shapes and sizes, there seems to be one common formula that hasn’t changed in years – people still buy from people. If you’re in the market to hire your next MPS salesperson, try our recent release: How to interview an MPS Rep filled with real world tips to help you select a winner!

 

Check out our next blog with 5 more of our TOP 10 MPS New Years Resolutions! And stay tuned for more from the ECS event next week in future blogs. Or maybe you want to take action today and book your seat to join us in Phoenix and get a jump start on your competition and your 2013 MPS New Years Resolutions?

Tags: MPS, printer toner, blind drop shipping, managed print services, toner cartridges