On to the less good news. “Bookings are strong” at TD SYNNEX presently, according to Nethercoat, but while vendors at Inspire this week are mostly upbeat about their order volume too, they’re more than a little nervous about what lies ahead just the same.
“They can’t help themselves all acknowledging that our future here with respect to inflation is probably going to have some impact,” Nethercoat says.
Nethercoat had advice for channel pros at Inspire about preparing for that impact. First, she said, get a clear understanding of what sets you apart from the competition, your “differentiated value,” and make a point of underscoring it in your sales and marketing.
Next, Nethercoat advised, put greater emphasis on promoting consultative services and vertical industry solutions to line-of-business executives outside the IT department, as they’ve been outgrowing IT spending overall for years.
Third, she continued, make retaining key customers a top priority. Cross-selling to accounts you already have is significantly less expensive than acquiring net new ones, Nethercoat observes. “Improving retention by just 5% can improve margins 25 to 95 percent.”
Retaining key employees is important too in today’s tight tech labor market, she adds. “It’s really tough to find the right skills,” so if you have good people on staff, offering them training, certification, and other opportunities is a wise investment.
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