Selling Wide Format. Barb Pellow. Group Director Keypoint Intelligence/InfoTrends

Transcription

1 Selling Wide Format Barb Pellow Group Director Keypoint Intelligence/InfoTrends

2 Event Host Welcome! Dan Johansen Marketing Manager Graphic Arts Wide Format Solutions Ricoh USA, Inc.

3 Wide Format Webinar Series Getting into Wide Format Thursday, August 24, :30 4:00 p.m. EST (Replay Available) Targeting the Wide Format Market Wednesday, September 6, :30 4:00 p.m. EST (Replay Available) Selling Wide Format Wednesday, October 18, :30 4:00 p.m. EST

4 Ricoh Business Booster Extras Link to replay Webinars PDF of Slides Written Report

5 GoToWebinar: Attendee Participation Your Participation Open and hide your control panel Join audio: Choose Mic & Speakers to use VoIP Choose Telephone and dial using the information provided Submit questions and comments via the Questions panel Note: Today s presentation is being recorded and the recording will be available within 48 hours.

6 Today s Speaker Barbara Pellow Group Director Keypoint Intelligence/InfoTrends

7 Let s Get Started!

8 Digital Wide Format is a Growth Market! Retail Value of Wide Format Digital Print ($B) Good growth and margins Variety of applications and competitors $ % CAGR $22.3 Many service opportunities/ demands Source: InfoTrends Wide Format Service

9 Sales Success Starts with a Clear Path!

10 Setting the Sales Course What do we sell? Who do we sell it to? Why do they buy from us? Why will they buy from us in the future?

11 4 Things the Best Sales Reps Do Differently

12 Strategy #1: Create Demand Insight sellers avoid the established demand trap! Evaluate Your Chance of Winning Focus on the Best Opportunities

13 Two Kinds of Demand Demand Capture The customer knows what he/she wants The rep aligns the solution to a known need The rep has a high level of product knowledge The rep strives to beat the competition Price is often the deciding factor Demand Creation The rep starts the conversion and helps the customer recognize a need that he/she didn t know existed Business acumen and thought leadership are key The rep strives to pre-empt the competition This often leads to highmargin sales

14 Communication Spending How is your company s/organization s total communications spending distributed by the various communication types that you use today? Mobile 5% Video 5% Audio 4% Other 2% Signage 8% Print 43% Events 10% Online/Web 24% N = 1,010 SMB Respondents Source: In Search of Opportunity: Finding the Right Prospects, InfoTrends 2017

15 Signage is a Key Communication Tool Which of the following do you currently use to reach and communicate with customers? Business identity products Digital marketing Sales and marketing materials 59.6% 55.2% 64.5% Print signage Promotional products & apparel Print publication advertising Transactional print Print direct response 42.2% 38.5% 36.2% 35.6% 35.1% Electronic transactional communications Mass media excluding print Packaging 10.9% 17.2% 23.1% N = 1,010 SMB Respondents Source: In Search of Opportunity: Finding the Right Prospects, InfoTrends % 25% 50% 75%

16 Clearly Articulate the Value of Signage Brand Equity Brand Recognition Long-Term Awareness Marketing Support Wayfinding Cost Per Impression

17 Key Strategy #2: Target the Right People Mobilizers are ideas people who can see the vision and champion change Insight sellers help mobilizers get through organizational silos and internal purchasing processes

18 Marketers Are the Key Decision-Makers Which area/department is the key decision-maker for printed signage? Education/training 2% Finance 2% Creative services 3% Customer service 4% Communications 5% Marketing 33% Sales 10% Corporate 26% N = 426 SMB Respondents who use printed signage to communicate with customers Source: In Search of Opportunity: Finding the Right Prospects, InfoTrends 2017

19 Understand Why Decision-Makers Buy What are your top objectives when using print signage to communicate with customers? Acquire new customers Increase brand awareness Sell products/services Introduce new products/services to customers Retain existing customers/increase customer loyalty Notify customers/prospects of a sale or special event Generate leads for sales force Enter new markets or geographies Reduce and control operational costs Meet compliance requirements Obtain feedback about company products or services Other Don t know 20.5% 15.9% 8.2% 6.8% 3.9% 1.4% 0.5% 68.6% 54.7% 33.3% 27.3% 24.8% 23.5% Three Responses Permitted N = 439 SMB Respondents who use printed signage to communicate with customers Source: In Search of Opportunity: Finding the Right Prospects, InfoTrends % 25% 50% 75%

20 Key Buying Industries Healthcare Food Services Hotels Retail Real Estate Education Events

21 Understand Their Buying Priorities How important are each of the following criteria when choosing a print services vendor? (Means) Quality of print output Competitive pricing Ability to meet promised deadlines Expert advice Broad range of service Table Stakes Table The Differentiator Offer print samples 2.2 Convenient location 2.1 Ability to manage both print and digital channels 2.0 IT/technical resources 2.0 Dedicated client representatives 2.0 Environmental credentials 1.8 Expertise in services outside of printing Multiple locations International locations 1.3 Not Important N = 1,010 SMB Respondents Source: In Search of Opportunity: Finding the Right Prospects, InfoTrends Mandated by Policy

22 Mobilizers Have a Variety of Titles Business Manager Chief Marketing Officer Director Director of Purchasing General Manager Marketing Manager Office Manager Operations Manager Owner Partner Sales Manager Purchasing Manager Public Relations Manager Community Relations Manager

23 Key Strategy #3: Lead TO the Solution Lead TO the solution, not WITH the solution!

24 The Focus Must Always Be on Value!

25 Key Strategy #4: Control the Process Insight sellers take control by coaching customers on how to buy Share new ideas Help them navigate alternatives Help them avoid pitfalls Help them build consensus for your solution Suggest people who should be involved and ways to evaluate the spend.

26 Why Do Customers Buy?

27 Reps Understand What Buyers Need The rep offers a unique and valuable perspective on the market The rep helps buyers navigate alternatives The rep helps them avoid potential landmines The rep educates them on new issues and outcomes The supplier is easy to buy from The supplier has widespread support across the organization

28 What Drives Today s Purchasing Decisions? Value to Price Ratio 9% Product & Service Delivery 19% Sales Experience 53% Company & Brand Impact 19% Source: Corporate Executive Board

29 Research Has Shown Customers put the highest value on salespeople who make them think, bring new ideas, and find creative and innovative ways to help their businesses In short, customers are demanding more depth and expertise! As many decision-makers prefer to have 4X discussions about business trends, business issues, and business insights rather than traditional product knowledge-driven sales conversations. Source: SiriusDecisions

30 Building Credibility (1) Expertise Results Delivered Process Drives A Great Sales Experience For Customer Table Stakes Great quality, on-time delivery, responsive customer service Real Results Up The Ante Improved time to market, better brand awareness, increased response rates, improved lead quality, streamlined supply chain, etc.

31 Building Credibility (2) Expertise Business Acumen, Insight, Experience Results Delivered Results, Case Studies, Testimonials Process Drives a Great Sales Experience for the Customer Thorough sales process, reduced risks, justified purchases

32 Customers Value Sales Reps That What are the top THREE attributes you value in print and marketing services sales reps? Makes it easy to use their services 53.2% Share unique ideas or insight Proactively help educate me on issues related to my print work Not applicable, I just want my sales rep to respond to my requests Offers systems to streamline my processes Helps me understand the financial implications of new approaches to customer communication. 30.2% 29.2% 29.0% 27.1% 20.7% Updates me frequently about new technology they acquired 17.7% Three Responses Permitted N = 1,010 SMB Respondents Source: In Search of Opportunity: Finding the Right Prospects, InfoTrends % 25% 50% 75%

33 Buyer Perspectives on Purchasing InfoTrends Interviewed Buyers of Wide Format Products We are always seeking the best combination of speed, quality, and price that s what s important to us. Principal, Marketing, Advertising and Public Relations Firm, Pacific Northwest Proximity, price, and turnaround time are important criteria for selecting providers. Manager, Distribution Company, Midwest Price is our key purchasing criteria. We will pay a higher price for fast turnaround, but that s it. We re not in the art business our goal is to get people to come in and buy pizza. A coupon for a dollar off a pizza drives more purchases than a beautiful picture of a pizza. Marketing Director, 21-location Midwest Pizza and Hot Hoagie Chain I don t care much about the processes used to print wide format graphics. I only care that the end result meets my requirements and looks good. Creative Director, Television Network, Northeast It s not just their capabilities, but how they handle us during the transaction. I ended a relationship with a wide format service provider because they just couldn t bill us correctly. Principal, Marketing, Advertising and Public Relations Firm, Pacific Northwest

34 Sales Must Deliver the Right Messaging

35 Key Mistakes That Sales Reps Make What are the top THREE mistakes that you ve seen your reps make? Lacks a thorough understanding of what will motivate the prospect to buy Doesn t ask the right questions Difficulty moving the sales process closer to a win Failure to articulate the company s areas of differentiation Not setting proper expectations with customers Difficulty understanding client objectives Lacks an understanding of the company s offerings Other 6.6% 58.1% 49.6% 45.2% 42.6% 38.2% 33.1% 26.5% Three Responses Permitted N = 272 Respondents Source: Best Practices of High-Performance Print Sales Organizations, InfoTrends % 25% 50% 75%

36 Wrap-Up Wide Format is a Growth Market! The Best Sales Reps Create Demand Target the Right People Lead TO the Solution Control the Sales Process Customers Expect Reps to Offer Unique Insight Sales Messaging Matters!

37 Go Forth and Sell!

38 Next Up: A New Knowledge Booster Series Successful Sales & Marketing for Print Organizations The Art of Finding New Customers, November 14, 2017, 3:30 4:00 p.m. EST Marketing Your Business It Starts with a Plan, December 13, 2017, 3:30 4:00 p.m. EST Selling 101: Best Practices for Print Service Providers, January 17, 2018, 3:30 4:00 p.m. EST Sign Up Here!

39 Thank You! (401)