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For many point of sale (POS) resellers, generating qualified POS leads to fill your sales pipeline can be a challenge. Below are six proven marketing tactics that can help your organization uncover additional sales opportunities.
- Pay per lead programs. There are several companies whose primary business is to generate online leads for POS systems (and other product categories) and sell those leads for profit. Often these lead generation companies allow customers to build a profile of the type of lead they are interested in purchasing. Filters can be set so that leads can be purchased in a certain geographic region, by business type (think retail, restaurant, etc.), or by product interest (think hardware, software, total system). In addition, any POS leads purchased that have false contact information like a bad phone number, contact, etc. can be returned for credit. The downside, many of your competitors may be also be purchasing these leads — which can lead to potential price wars and lower margins.
- Manufacturer and ISV relationships. In my experience, vendors are usually a great source for POS lead referrals. Take the time to understand what your organization may need to do to qualify to receive leads. Realize that your ability to receive leads may rely on networking and relationships you have with manufacturer and ISV partners. The downside — many vendors require that you follow up on leads handed off and report feedback. So make the effort to do so or your lead source may quickly dry up.
- Strategic partnerships. Most resellers are geographic in nature. They typically handle opportunities in a certain city, state, or region. Have you ever considered developing strategic partnerships with other companies that offer supplies or services to retailers or restaurants in your area? Often in the sale cycle, a new business will purchase equipment, merchandise and supplies to kick start their operations first. What typically comes last is technology. Create partnerships with retail store and restaurant equipment suppliers. They are good sources for new store opening, store redesign and pos system leads.
- Your website. Over 80% of people looking for a product or service begin that search online. Are you positioned to be found? I am often surprised by the number of technology companies that either do not have a website or have one that is not up to par. Take the time to create a professional looking website — after all, it is your virtual business card. Also, use SEO tactics to optimize the site for keyword terms or phrases related to your business. This will ensure when someone is looking for a “POS system” in your area, that your business will be found.
- Content marketing. More than 95 percent of first-time visitors to your website are not ready to buy. They are in the information gathering, problem solving or research phase. Develop content like whitepapers, e-books and checklists that are free, educational assets. These materials need to present value so that potential customers in the top of the sales funnel would be willing to fill out a form to download it. While developing educational and informative content will take time, having assets like this on your website will position your company as an industry thought leader and capture POS lead opportunities at the top of the sales funnel that you otherwise may not have known about.
- Lists and telemarketing. While I am not a huge fan of cold calling due its typically low success rate, if you can find a targeted list with reliable contact information, it will yield good results. For POS companies, I find that sourcing lists of people or companies that plan to open a new restaurant or retail store in your area can often yield a handful of qualified sales opportunities.
While generating sales leads is important, nurturing these opportunities throughout the sales process is just as important. Often the sales cycle for a point of sale system can last anywhere from 30 days to 12 months depending on the size and complexity of the opportunity. For long sales cycles, it’s critical to stay top of mind with prospects by conducting a drip marketing campaign.