7 Best Strategies to Help Value-Added Resellers (VARs) Increase Sales
Quite a few VARs are using my VARStreet platform to automate and streamline their business. VARStreet is playing a key role in boosting their sales. Here I would like to share some useful tips on what VARs need to do to improve their business.
It is tough competition out there. Every Value-Added Reseller (VAR) is thinking about how to increase sales. A Business-to-Business (B2B) company has to constantly innovate and find new solutions to sell their products and services.
The VAR industry is witnessing the major transformation in marketing and technologies. It is imperative that the VARs adapt to these changes to increase B2B sales.
Let’s take a look at the top seven ways for VARs to increase sales:
- Find the Right Vendor/Channel Partner
When selecting a channel or vendor partner, value-added resellers need to consider more than the products and prices. The partnership is a long-term decision which can make or break your business. So, when you are looking for a partner, find out if they offer other services such as sales training, marketing support, technology support and scalability. Your partner should fit into your business requirements at any point in time.
2. Understand Your Profit Margins
An increasing number of VAR businesses are facing low-profit margin situations. Let’s say; you have designed your products and services portfolio such that you get ‘X’ percentage of margin. However, you need to understand that not every deal is the same. You will have to adjust the margins in each deal after looking at the bigger picture. Instead of aiming for a fixed percentage of margin, try to maximize it from each deal.
3. Open an E-Commerce Store
If you are still selling through traditional channels, you need to go online as soon as you can. It will open up a new revenue channel for your business and help you acquire more customers. You can increase online sales by offering discounts, loyalty programs, creating landing pages, adding a blog and so on. An e-commerce store is a sure shot way to increase sales.
4. Automate Your Processes
Are your sales representatives spending too many manual hours on preparing sales quotes, making sales pitch presentations, taking software backups or managing customers and contacts? Automation would be a very effective marketing strategy to overcome these challenges. I firmly believe that automation is the key to improve business efficiency. You can deploy automation tools such as Customer Relationship Management (CRM), Sales Quoting software, and Remote Monitoring and Management (RMM) to boost operational efficiency and improve sales productivity. Your sales representatives will get more time to focus on sales and customers instead of routine activities.
5. Up-Sell and Cross-Sell
These two sales techniques can increase B2B sales significantly. Whether you are meeting the customers face-to-face or selling online, give them options of more profitable or related products. However, make sure you don’t overwhelm customers with too many up-sell or cross-sell suggestions. Offer suggestions that make sense and suit the customer needs. They should add value to the overall deal.
6. Use Digital Marketing Strategies
Digital marketing strategies are effective in running campaigns on social media and to increase online sales. Make sure you use techniques such as Search Engine Optimization (SEO) to increase the visibility and website page ranking in search engines. The content of your website, blogs or any other digital property should be relevant and useful. Send email newsletters to your subscribers at regular intervals.
7. Create a Referral Program
A referral program is a great way to reward your customers, earn their loyalty and retain them. Give the incentives, discounts, free upgrades, freebies or special discounts to make them feel valuable.
The above-mentioned strategies can change the game in your favor.
