As a vendor relationship manager for a financing company serving the office technology space, I see solution providers taking many different approaches when it comes to obtaining the signatures they need to process lease documents. At GreatAmerica, we take the protection and enforceability of the lease documents very seriously. Accordingly, when our customers work with digital signature providers, we vet those providers to be sure they satisfy our requirements. Because I’ve worked so closely with my own customers on this topic, I thought it could be helpful to share a few things to help you make more informed decisions when it comes to how you obtain your customers’ signatures.
You’ve likely heard the following statistic: it costs 5 times more to acquire a new customer than it does to retain a current customer. Given the change in the selling world today, that’s probably a conservative number. With print on the decline, one could argue that the imaging industry was already experiencing a transformation, but 2020 changed business in an unexpected way, further accelerating the need for providers to diversify. With the sudden onset of a health and economic crisis, buyers became even more apprehensive. Throw in the travel restrictions combined with an onslaught of zoom meetings, and you have an environment that makes it challenging to develop new relationships.
Personal interactions are the best way to earn trust and build credibility with the people you do business with. It’s hard to top the connection you make with a face-to-face smile, a firm handshake, or a genuine laugh. Why else would in-person conferences maintain popularity, even when the information presented can just as easily be gleaned via blogs, podcasts, or webinars?
Why Other Factors May be More Important Long Term
As a vendor relationship manager at GreatAmerica, I have the pleasure of working with office technology providers every day. In our channel, it’s not a question of if financing will be a part of their go-to-market strategy, instead, it’s a question of who they will use to facilitate the financing arrangement. There are many financing sources to choose from as an office technology solution provider, and when deciding what the best fit for your business is, you should start by looking to your mission, values, and go-to-market strategy. Since I’m often asked what kind of providers are typically a good fit with GreatAmerica, I wanted to take some time to offer my insight on the topic. There are two categories of considerations we tend to look at when evaluating if an office technology business will be a good fit for GreatAmerica: The first is what I call the ‘on-paper’ attributes. We lean on these attributes to help us understand if the company seeking financing can fulfill the terms of the agreement. The second category we look at is whether they hold growth minded attributes. Let’s dig into both categories.