Nirvana in Indian culture is described as a state of perfect quietude, freedom, and highest happiness. We are not going to talk about it in the religious sense, but we will look at it in the business sense.
If I were a betting man, I would bet that you would not describe your business using those adjectives. You would probably discuss it in the sense of turmoil in the marketplace and in the challenges you face. This blog may help you move toward a more nirvana-like state in your business.
Both within your business and with your dealings with customers there are issues causing challenges that impact your customer’s happiness.
There are several areas in dealing with your company that your customers find less than desirable, no matter how hard you try. Let's discuss four that are probably at the top of their list.
Meter readings. If you surveyed 100 clients, I think you would find this chore at the top of the list by a wide margin. Most customers dislike having to get and report meter readings every month.
Overages would probably be number two on the list. Having a bill that changes every month causes frustration. Most clients would much rather have a regular monthly bill they can budget for.
Billing mistakes might be number two or it will be a close third. In most cases, billing mistakes are the result of a bad meter reading.
Number four is probably the process of dealing with purchasing equipment. It is not that they dislike your sales rep but the 36-month cycle ties up more of their time and mental energy than they want to invest.
It is interesting that we find in many cases the same issues that aggravate your customers cause internal challenges as well.
Meter readings in most cases are the biggest billing headache. If the dealer has to send a technician to get a meter reading, it is about a $100 expense.
Bad meter readings are a significant cost considering the time and effort to research and correct the invoice.
Declining revenue may well be in the number three position. The pandemic hurt most dealers significantly as client volume declined. In addition, the constant downward trend in both volume and click rates is a double whammy for service revenue.
Focusing on the proper targets for sales is the number four challenge. Too often the sales team will focus on upgrading equipment to meet their quota, and in the process, they take out equipment that is earning good revenue due to escalation and which the tech team is really good at servicing. What is needed more is new customers with new machine installs rather than replacing profitable machines with current customers.
A related issue is the overselling of equipment and cutting the service price in the process to make it easier for the sales rep to line their pocket.
I am going to borrow a theme from John Lennon and his song Imagine.
Imagine a time when you never have a billing error.
imagine a time when your sales reps spend their days hunting new customers.
imagine a time where declining page output means increasing profit.
Imagine a time when your salespeople never talk about the click rate.
Imagine a time where you never have to worry about your clients leaving.
Imagine, it is not hard if you plan for tomorrow.
Imagine no more meter readings.
Imagine no more overages.
Imagine no more sales cycles.
Imagine one flat rate for all their technology.
Imagine, it’s not hard if you try.
Imagine no more meter readings – no wasting your tech’s time.
Imagine no more billing errors, just one invoice that stays the same every month.
Imagine no more unnecessary upgrades.
Imagine the sales reps focusing on net new placements.
Imagine the sales reps selling the most cost-effective product for the volume.
Image sales reps staying with your company for the rest of their career and meeting all their quotas on a regular basis.
Imagine it’s not hard if you are willing to change.
Does this sound like a future that your company might benefit from? It is possible if you are willing to change the way you do things, get out of your rut, and plot a course for Office Equipment Nirvana.
If you want to learn more, I have the map you need, and I can help in the journey.
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