Let’s face it. In today’s economy, there are more vendors chasing fewer customers. So how does a Value Added Reseller (VAR) battle churn in the face of increasing competitive activity?
Get Reacquainted With Your Customers
The economic slowdown has changed the way companies think about their business needs. VARs must look at their customers in this new light and learn how their priorities and expectations have changed. This new understanding of customer preferences will help them tailor their marketing messages and business solutions to better meet their customers’ needs.
Focus on Current Customers
Selling to existing customers is easier, less expensive, and more profitable than pursuing new customers. VARs should capitalize on the trust and goodwill that they’ve created with existing customers by helping them find ways to navigate the economic slowdown. Concentrate on those solutions which will have immediate benefits in a weak economy.
Identify High Value Customers
Successful VARs understand the importance of a good database. More important, they know how to use it for the utmost advantage. By analyzing customer purchasing patterns, they can identify their most high-value customers — those spending the most and those whose purchases are increasing (or at least not decreasing) — and then target those accounts with relevant communications, campaigns, and promotions.