un·cer·tain·ty – noun; a state of doubt and hesitancy; unpredictability.
The pandemic will most likely be judged by history as a period of burdensome transition. In addition to a lot of difficult uncertainties, the past three years have brought about changes in almost every facet of the global community. Healthcare and sales are two areas affected that concern Value-Added Resellers. Medical practices—from small medical centres to big clinics—have seen an increase in telehealth (a recent study in Ontario showed an increase in virtual care visits from 7.0% pre-pandemic to 85.9% during the pandemic).
According to Oxford Economics, Canada will be in a recession for most of 2023 and see a projected dip of 2.3% in GDP. Inflation will fall, but labour shortages will increase unemployment from the current 5.1% to almost 8%.
The preceding may paint a bleak picture, but it is not all doom and gloom. As a Value-Added Reseller of speech-to-text technology products designed to make life easier for your clients, you can rest assured you have a full team behind you that has revolutionized the reseller program industry. At eDist Canada, you are not a client , you are a partner, and we are here to see you succeed.
Read on to see how Value-Added Resellers can confidently (and successfully) increase sales in 2023.
…According to Oxford Economics, Canada will be in a recession for most of 2023 and see a projected dip of 2.3% in GDP.
The Value-Added Reseller as a Money Saver
The Business Development Bank of Canada (BDC) sees the economic outlook for 2023 as a year for caution, but not panic. “Whether or not there will be a recession, the consensus is the economy is set to slow down in 2023,” the BDC said. “The slowdown is caused by the Bank of Canada’s fight against inflation to bring an overheating economy under control.”
The preceding should not concern you, the Value-Added Reseller. The products you sell help your clients reduce costs, save time, streamline operations, and make their workflows more efficient. If economic uncertainty is in the air, then saving money should be at the top of every company’s list. And what are you, if not a money-saver?
Take, for example, Nuance® Dragon® Medical One. The economic picture notwithstanding, people still need to see the doctor, and the doctor still needs to take notes. But why type when you can speak? Physicians do get tired and overwhelmed with copious amounts of administrative tasks, which can all be alleviated with speech-to-text technology. That’s where you come in: a time- and money-saver!
- Understand your customers — Do you really know your target audience? Are you conscious of how they consume your content? Have you listened to their concerns and their questions? Take an objective look at your Unique Value Proposition and see if it needs revising. Are you still dominant in your niche? In the end, if your product or service cannot be differentiated from everyone else’s, then you should pivot.
- The name of the game is automation — If time is money, then automation is a bank. Automation lets you reach more people; thus, increasing your qualified leads. It also allows you to segment your target audience and send unique, personalized messages to them. Automation also saves you time and money by performing analytics reports and tracking key metrics, so you don’t have to spend time doing it yourself. Another significant cost- and time-saver: automating your email list.
- Show thought leadership — Demonstrate to your potential clients and existing customers how your product or service impacts their needs in a personal and story-telling way. Use social media, webinars, videos, blogs, podcasts, and infographic formats to craft your message, highlight your brand and product or service, and watch your sales grow. Thought leadership builds credibility and trust. However, there is one rule you should always follow: Create consistent content.
- Sales velocity equals faster close rates — Sales velocity is defined as how quickly prospects move through your funnel. However, this doesn’t mean you need to rush the sale. The key here is optimization, not speed. In other words, don’t take more time than is needed. Identify the areas where there is friction and streamline the process. Don’t rush through conversations; anticipate what clients might ask and address it in your pitch. This is another area where automation can help free more time to attend to the next prospect.
- Not following up — This is a common mistake and one easily fixed. After the initial contact with a prospect, your follow-up strategy needs to kick in (and if you don’t have one, get one… ASAP!). You must check in with the prospect. Industry experts recommend within 24 hours (certainly, no more than 48 hours). If there is no response, follow up on Day 3 after initial contact. The third follow-up should be on Day 7. After that, double the numbers: follow-ups on Day 14, Day 28, Day 56, and after 56, every 30 days (Day 86, Day 116, etc.). However, there is another common mistake done with these follow-ups: Don’t send the same message over and over. Personalize, ask questions, engage with the potential customer, offer a free trial and/or discounts, etc.
How eDist Canada Can Help
As premier Value-Added Distributors, our goal is to provide our partners with the support, tools, and guidance toward their success. We strive to give you the best experience possible in cloud-based, speech-recognition software solutions for your clients in whichever vertical they practice.
Here’s a short list of what you can expect from eDist Canada:
- A skilled and specialized technical support team
- Cloud-based services
- Access to a high-level marketing portal
- On-demand training
- Customer base increase
- Access to a knowledgeable and helpful sales team
- Proven recurring revenue model
- Excellent customer service.