Resellers open the gates to new markets. Without the addition of resellers into today’s business environments, product mobility would be difficult.
Products and services are now available over larger geographical distances thanks to a network of VARs.
Additionally, innovation with distribution methods helps keep customers interested and drive economic activity.
With a growing number of successful VARs, common trends present themselves.
Wondering how to ensure your practices rival the best businesses in your field? Understand what they do, how they do it better.
What is A VAR?
VARs or Value Added Resellers provide B2B solutions. This could take the form of supplying anything from office supplies to software suites.
VARs have a unique take on the purchasing process. While customers could directly reach out to the suppliers to place an order, what makes your business as a reseller more persuasive?
Common Features of Successful VARs
1. Identify Your Niche
With every product added to your catalog, the requirements your business can fulfil becomes increasingly concentrated.
Successful VARs are careful and calculated about the components they choose to market.
Developing a niche, however, is not limited to the products you stock. Your niche can be defined by;
- Market sector
- Client company size
- Company sector
The more factors you use to streamline who your target demographic is, the easier it is to plan how to approach your prospect.
If you’re worried about a niche limiting your customer pool, keep in mind niches are the side effects of internal decisions.
It takes one internal decision to broaden the scope of your niche once you are able to establish yourself. Take it one step at a time.
Understand who your initial customer is, and develop business relationships with them. When you feel your business is reaching limits on prospects, widen your niche.
A lot of successful VARs have carved space for themselves through concentrated product selection and customer approach.
Specialization as opposed to generalization could be what elevates your business in the eyes of a consumer.
Consider introducing an SME business management tool to help keep the business goals, product catalogs and target markets organized.
2. Provide Maximum Value
The best companies in their industries are only able to close about 27% of all leads pursued.
Selling to new customers is definitely more difficult than retaining an existing one. Successful VARs are able to constantly enhance their customers experience with every transaction.
The objective is to showcase how reliable, professional and considerate your business is compared to your competitors.
Keep in mind at any minute your customers could head directly to another business to fulfil their requirements.
How is your business constantly value-adding to the customer?
A simple way to address this concern is automation. Introduce business management software for VARs to keep the processes organized.
Understand how deals are successfully closed or where a breakdown in the sales cycle lies.
Equipping your organization with the right tools for success optimises internal processes. It creates more room to look at your customer under a microscope.
Are their needs met? How can you offer better service? Where do they feel customer service could be improved? What modules can you add to your software suite to enable higher comfort?
A happy client is more likely to keep their business with your organization.
A lot of procurement software for VARs allows you to maintain dossiers about clients, emphasizing key information. Use this to create a substantial relationship with your client.
3. New Areas Of Opportunity
Within the IT sector, the only thing we can be sure of is constant innovation and change. Successful VARs stay ahead of the curve.
They are quick to understand and incorporate industry trends and offer only the best to their clients. Consider the transition into online marketplaces.
The best VARs offer a B2B eCommerce platform with a multitude of easy to use features and concentrated information.
Be on the constant lookout for the latest technology to incorporate into your catalog. Ensure your business is equipped with the information to distribute these industry trends.
Nothing would reflect poorer on a business than offering high-value goods to a client without adequate knowledge.
Look for pain points or information gaps within your niche or expand to new markets and address them with better products or service.
4. Go Above and Beyond
The concept of a VAR is to value add. When businesses are reselling, it is up to them to ensure the services provided are noticeably different and better.
For example, smaller VARs might feel competing with bigger companies is an intimidating process.
However smaller businesses are able to focus on customer needs with ease and dedicate more time and resources to fulfilling their requirements.
Additionally, smaller businesses are more likely to play active roles in their business communities and focus on sharing values in a way larger businesses neglect over time.
A quick way to keep your customer engaged is paying attention to your digital presence. Create a unique and innovative B2B eCommerce platform that offers a comprehensive purchasing experience.
SME business management software often contains marketing modules to help plan and evaluate your efforts.Build a strategy to distinguish your business based on your capabilities and goals.
If you’re having issues segregating yourself from your competitors, chances are your clients are too.
5. Stay Focused
While the latest, shiny thing on the market might seem like a good investment at the time.
Consider the resources your business can allocate towards a successful sale of the same.
Does your business need to invest in the “next big thing”?
Approach your business through the eyes of a customer. When building your proposals, procurement software for VARs offers templates and insight into your customers’ buying behaviour.
Stay focused on bridging the gap between your customers’ needs and delivery.
Approach industry trends at your own pace. If you don’t need to add new components into your existing business, don’t.
The repercussions could prove more costly than the initial investment. When building relationships between customers and your organization, structure and stability is key.
If customers feel your interests could dart from one place to another leaving them behind, they are unlikely to return.
Understand what stands at the core of your business and use that as a firm foundation to build.
6. Build Strong Internal Mechanisms
A stable, well-oiled machine is built by several components that work together flawlessly for ideal results.
It is important to understand there is not a “one size fits all” solution to becoming a successful VAR.
Creating processes within your organization that are the right fit for you, helps you maximize what your business already has.
If you are unhappy with the structuring of your business, it’s never too late. Introduce an SME business software to your organization.
SME business management software suites, depending on your provider, offer a number of modules.
If your software is reseller centric, it is likely to include procurement software for VARs and assistance with building a B2B eCommerce platform.
Incorporate the tools you need for your business to move with ease. Minimize the questions your employees are asking you and each other by introducing strong working guidelines.
While they aren’t always the easiest to remember, capitalize on your SME business software.
They help with information repositories and preloaded rules that question incorrect activities and halt processing.
Minimize human error and maximize business potential with business management software for VARs.
There is no recipe for business success. Staying diligent about internal and external practices helps keep businesses afloat.
For a business to become truly successful innovation is key. How does your company distinguish itself from competitors?
A clear vision that fills in knowledge gaps and customer requirements with exceptional customer service.
A quick solution to streamlining processes is to follow global market trends and introduce automation.
An SME business software, more specifically, a business management software for VARs could change how you look at your business.
Introduce procurement software to initiate and move sales cycles along. Give your B2B eCommerce platform extra thought and care.
The makings for an exception business already lie with your company. Enhance your capabilities for the best results.