Up Your Tech Refresh Odds
Closing a sale is not easy. (At least it looks hard from the perspective of this marketer.) Yet you’ve landed a new customer and it is onto the next, right? Wrong! That current customer is increasingly valuable to your organization, and ensuring they aren’t snatched away from you or fizzle out entirely is crucial to your future success. You are selling technology that will need replaced at some point, and you need to look at the lifetime value of your customer!
Increase your technology refresh opportunities with these three tips.
- Sell technology on monthly payments. Better yet, do it on a rental program. A rental is different from a typical lease, because the customer never has the obligation of owning the solution. So if you place a 36 month rental, at the end of the term your customer either returns the equipment or keeps renting it. This gives you the perfect opportunity to help them get a new solution in place without drastically changing the monthly fees they’re already paying.
- Conduct Quarterly Business Reviews (QBRs). If everything is running smoothly, the customer may forget that is exactly what they’re paying you for! A QBR is your opportunity to remind them of all the great things you are doing for them. Plus, you’ll have a better idea of when your customer’s technology is beginning to cause problems and you can work together to build a tech refresh timeline.
- Don’t wait for your customer to ask for a refresh. This seems like a no-brainer, but in the tech space it is all too common. Your client hired you because of your expertise in the technology you offer and your insightfulness. This passive attitude could also lead to a competitor coming in and earning their business out from under you.
A current customer is among your most valuable asset. Be sure to protect that asset by keeping them satisfied for the lifetime of their business.
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