As a marketing professional, I always pay attention to the latest marketing trends and innovations. Account Based Marketing is one of the latest hot trends for marketers and sales professionals. You can read a lot on that subject, but to me nothing is more revealing than a shopping experience I had with my parents.
A while ago, my seventy-something father was complaining about his feet hurting. Naturally, one needs comfortable shoes as one ages. With my mother in tow, off to Nordstrom we went, just in time for the semi-annual sale. Within 30 minutes the sales associate had my father in a high-quality, uber-comfortable pair of shoes. They were a bit pricey even with a (very good) sale discount, but necessary, and you can’t put a price on comfort. My father was happy. Mission accomplished.
While my father was being attended to, my mother naturally did a bit of browsing, and I saw that the sales associate spied this. My parents are careful with their money and I could see my mother was taken aback by the prices, even with the sale. She’d not be buying. No way. Not at these prices. But what happened after the sales associate finished fitting my mother into a stylish yet comfortable pair of new shoes absolutely shocked me. Even more, the sales associate had my mother sign up with the credit card loyalty program to get coupons and points. After that, it seemed the majority of gifts I received from my parents were from Nordstrom! This episode forever changed my perspective on account-based marketing.
My Perspective on Account Nurturing Changed Forever
I have the opportunity to visit with our Xerox reseller partners pretty regularly, and as I listen I find there’s a common theme around selling more printers to more customers. I get it: who doesn’t want to grow their customer base? Yet, what about selling more to the customers they already have? Seems logical that it would be easier to sell more to a known entity: less effort, less cost. The Nordstrom’s sales associate understood this. She saw my parents as an account that had the potential to grow in future revenue (sales) with Nordstrom if they could be appropriately, and directly, nurtured.
She seized the opportunity to lobby my frugal mother to purchase a new pair of shoes, and though a tall order, she was successful. How? She hooked her with a Nordstrom credit card, which for the initial purchase brings an added discount to the sales price. She explained that she’d earn reward points for her Nordstrom purchases that are redeemable for merchandise, and be placed on an “exclusive” mailing list so she’d learn of sales and special discounts for card holders. The result: the transaction is not the end—it’s truly the beginning.
Completing the Transaction Is the Beginning…Not the End
How does this story relate to printer sales? Selling a pair of shoes to my father is like selling a printer to an account. It’s essential for reseller partners to sell printers, just as it was the sales associate to sell a pair of shoes. While it starts with selling that first printer—that first pair of shoes – it doesn’t end there. As Nordstrom got more (much more) from the initial shoe sale, so too can you get more sales from the account to which you initially sold the printer.
Tools to Help Nurture Your Current Customers and Get More Business
We have a couple of invaluable resources to help you get more and better business from existing accounts.
First, is the Xerox Supplies Revenue Tool, which lets you see the future post-sales revenue and profit over the life of the printer. It helps you to better understand your portfolio of printer offerings from a post-sale perspective. It lets you compare the printers that are relevant to a given account so you can see which offers you the optimal post-sale (supplies) revenue and profit over the life of the Xerox printer.
Let me show you an example straight from the Revenue Tool:
|10||Phaser 6022 (color)||$6,798||$1,128|
|10||Versalink C405 (color)||$58,565||$9,761|
Clearly, if you’re selling a printer to an account, there’s good reason to sell supplies as either of the two examples above showcase. But while having some post-sale revenue is good, having nearly 10 times more is far better.
Accessible on the Xerox partner portal, the Xerox Supplies Revenue Tool will truly guide you to understand which printers in your offering portfolio yield more future revenue dollars, and together with the Genuine Xerox Rewards program, will help you to secure business beyond the initial transaction with your current customer base. Do not let the additional supplies revenue slip through your fingers.
Second is the Genuine Xerox Rewards program. Like the Nordstrom credit card, it rewards your customers for their supplies purchase patronage. Every time they make a Xerox supplies purchase—whether for Xerox printers or other brands—they earn reward points which they can redeem for free merchandise, travel, gift cards, etc.
Moreover, when you register for your own Genuine Xerox Rewards reseller Promotional Code your customers earn double reward points for their qualifying supplies purchases. It gives them even more reason to keep buying from you, just like my parents are avid Nordstrom shoppers now.
Take my advice: focus on growing your existing customer base by selling them supplies for their printer—and optimize your printer sales to better your revenue position. You’ll see what I mean after just sixty seconds using the Xerox Supplies Revenue Tool—it’s that easy. Together with the Genuine Xerox Rewards program, you’ll have a clear guide to selling the best post-sale revenue generating printers and getting your customers to purchase supplies from you over the life of their printers.
Xerox Partner Print Services
Learn more about adding managed print services to your portfolio and find out about becoming accredited to sell Xerox Partner Print Services on the Xerox Global Partner Portal.
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