Estimated reading time: 6 minutes
We all agree, 2022 is right around the corner. So, it is time to review this past year and see what happened and how it has changed our business.
Let’s go back one year ago, where you gave us your positive insight for 2021, where 77% of the TEConnect “Stay At Home” attendees saw the market in 2021 as ‘’Better’’ or ‘’Good.’’ Would you still agree with that now?
At BlueStar Canada, we could not agree more. As predicted by Michel Sirois in our last article “5 Key Concepts of the Canadian Technology Industry”, “this experience will have positively challenged our organizations, our priorities, and the way we conduct business with our customers.” He added: “On the sole condition that your organization has the agility to transform and adapt.”
As you know, we are all on the front lines and despite all the obstacles in our way, we have to meet goals. We have been confronted by many of them while being exposed to new structural and organizational adjustments.
Challenges resellers were facing in 2021, and will face in 2022.
This is why we thought it would be interesting to list a few stakes resellers like VARs & TSCs (Technology Software Company – formerly ISV) have been facing since the beginning of the year. That way we are prepared for 2022. Here are some ideas:
While being forced to stay at home and seeing distributors more and more autonomous thanks to the internet, has brought forward some threats for VARS and TSCs. This year has opened tremendous opportunities for distributors to increase their sales and streamline their processes. Among them disintermediation is one of the major, it is defined as limiting or even removing the work of middlemen and of different elements within the middle of a supply chain. They believe their business can flourish without the support of resellers, for instance.
Meanwhile, in the POS sector, we have seen an increase in new concepts such as BOPIS, ROPIS, BORIS, and so on, to make customers shop at their stores. This is a significant example of adapting to the market.
Find the right solutions for the right client:
The technology industry is divided into several verticals such as POS, AIDC, Kiosks, Healthcare, Warehouse, Network, Security… Obviously, they all are not facing the same issues, and they need specific solutions that meet their needs. You have to identify their vertical, then stakes or challenges they are facing to answer it and find the right solutions.
This is why BlueStar Canada created a brand-new LINE CARD focused on verticals, where it is easier to find the right vendor and solutions according to your need. Then we have our BDMs to help you with deeper information.
This year, we have all been struggling with delays in transportation and have observed a high demand in the industry. Moreover, we faced closed borders, the lack of raw materials, Eastern conflicts, and so on… It has affected the orders you were making and deliveries to your end-users. But not only that, according to Cision, the emerge of omnichannel and on-demand business models create opportunities for new ways of doing business for e-retail. North American Logistics and Transportation Markets Report 2021) Indeed, this is a good opportunity for transportation and last-mile delivery service providers to perform and to meet the high demands of supply and demand.
This is no longer a trend, but a reality and a business tool that is impacting all aspects of our lives. You are running your business, employing marketing tools to generate leads, and finding new clients. Nevertheless, if you haven’t integrated social media into your marketing strategy, you are missing out on a big chunk of potential customers.
Furthermore, you are missing a big opportunity to show your current customers what you are doing and what you have achieved. Nowadays, 90.4% of Millennials, 77.5% of Generation X, and 48.2% of Baby Boomers are active social media users, according to eMarketer.
In your social media strategy, you can individually use LinkedIn, which is a powerful marketing tool for your business. It can help you grow your business’ potential and create more leads. Also, it is a perfect way to grow your network.
Another powerful way to grow your network is to come to our upcoming TEConnect SOLUTIONS event, on November 10, in Montreal at the hotel Crowne Plaza Montreal.
Generating new customers versus converting current customers:
It is harder to get new customers than converting your current ones. In fact, the cost of acquiring new customers has increased by 60% (hubspot report). The upcoming year is the best opportunity to convert your current clients. Michel Sirois said in an article “customers first! More than ever we have to focus on the immediate reality of the customers.” adding, “Clearly understanding each customers’ reality is now crucial.” It is referring to the second point, above, “Find the right solutions for the right client.”
At the same time, it has never been easier to reach out to new clients, thanks to social media. It is definitely worth it to dedicate time for research and identifying new customers.
In conclusion, you have to leverage your loyal ones and lower the cost of acquiring new clients to ensure a profitable and sustainable business.
We all wished for a return to more normalcy. By the time we got back to normal life with physical meetings, events, and traveling, we have experienced new standards, changing forever our way of doing business. New generations like Millennials have grown accustomed to this new wave, and their demands have changed. This is why we have to adapt our business to stay ahead of the curve.
Let me ask you this: “If you had to improve just one thing about your business, what would it be?”
Step by step, you have to adapt your strategy to start focusing on the following:
– Identify the right solutions for your client, according to their vertical.
– Increasing your visibility on social media. (using LinkedIn)
– Adapt your tools and your way of doing business to the new standards.
What can you do to improve your business strategy? We don’t have a magic formula, but we can guarantee that you will grow your business by coming to our in-person event on November 10th, at the Crowne Plaza Montreal.
Are you ready to get a refresh on what’s impacting the technology industry today and learn about new solutions and products that could help your business thrive? We are bringing together thought leaders, technology solution providers, and industry influencers to an audience filled with technology professionals and enthusiasts.