ITEX 2016: Day One
Andrew Palmer, from Florida – 8 March 2016
Business Strategies for Growth
Today was a great session on business strategies for growth. There were a number of highlights, however information around Territory Analysis was of great interest.
The way territories have been managed has not changed since the 1980s, despite the fact that the solution has changed, the customer’s needs, and the way they want to buy has changed – therefore so should your approach. Sales Territories are all geographic location-based, with no vertical focus or vertical analysis. As an industry, we usually only give new sales people 60 to 90 days to make a success of themselves, cold calls are still a focus, and turnover of sales staff is around 80%.
This is even though the number one reason a customer will buy from a sales person is due to their relationship with them. It was noted today that it takes an average of nine months for a sales person to develop this relationship.It was recommended you do away with postcode-based territories and give your sales team a maximum of 500 qualified leads for them to develop a relationship with, rather than being thrown in the deep end.
Of other interest at ITEX Day 1:
- In the US the office page total volume across all print types is down 1.2% since 2013.
- However some industries have had an upturn, while some have had a larger downturn over this period – Public Admin is up 1.3% while Health Care is down 4.9%.
- Overall while there is a reduction in volume it is certainly not the reduction that has been predicted in the past. It was also mentioned that this drop of 1.2% was mainly off the back of document management software that the industry had implemented.
Quote of the Day:
“All customers are not created equally” meaning that it takes the same time to develop a relationship with a one machine customer as it does with a five machine customer.
General Manager, S.E. Rentals
S.E. Rentals are the finance as a service specialists that will help you grow your business by providing finance solutions in an 'all things technology' future. We provide you with the flexibility, scalability and agility to help you achieve your Managed Service objectives, and our unique in-house software platform, Finance Oxygen, automates the process for you