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Editor's Note: During the APDSP Zoom Trade Show in February, Keith Cox of Synnex discussed several products and services that are related to, but slightly outside of, the normal markets of most reprographics shops. I asked Keith to write an article about these opportunities for APDSP Today. He enlisted the help of the Synnex marketing team to write the article.
There are two great strategies to use to look at how one can grow a business in a declining market. First is to take a deeper dive into your business and evaluate what has changed or evolved. For example, services have evolved with managed print services, providing just-in-time supplies and management of business’ printing requirements. New products developed to meet the challenges of the pandemic like anti-bacterial coatings to improve your customers’ experiences can also be added to your product offering. Also, technologies like 3D printing continue to evolve which can also help you expand your industry focus. The most significant opportunity where wide-format printing may have been used in the past, is with digital signage which is transforming businesses on several levels.
Examining how digital signage is being used as an alternative to wide-format printing represents a natural transition from print. Digital signage can be used in applications such as menu boards, way-finding signage, and promotional interactive boards. Digital signage has evolved at a rapid pace and is transforming industries. Here’s a new technology solution opportunity that indicates significant growth for new business. What’s intriguing about digital signage is how easy it is to enter the market. The solution itself offers data intelligence capturing opportunities that can be analyzed and utilized for business growth which becomes another tier of business growth opportunity. Knowing how a complete digital signage solution can transform your customer’s business is worth investigating, especially when market research has the numbers to support the growth opportunity.
With the idea to bring digital signage to your product portfolio, think beyond your current customer-base and research other industries attached to it. Get yourself knowledgeable about the products and industries. You can never know too much. Keep focused on a few of the top manufacturers and keep your industry focus narrow. This will spare you the overwhelming sensation of trying to figure it out for everyone. A word of advice, your distributor will also support your learning curve.
The second strategy is to take a step outside the realm of reprographics and look at technology solutions and a closer look at your customers. How well do you know the industry they serve? This is where your opportunity to grow your business can be found. When you take the time to evaluate your customer-base to discover the industry you serve most and take that knowledge to have, what I like to call, “relationship building conversations” with them—you begin to find the opportunities and how you can better serve them beyond your status quo reprographics products and services.
Your relationship with your customers is the key to not only gaining insights into new opportunities, but also an opportunity to begin a journey of becoming a “subject matter expert” in a new industry and at the same time, building loyalty as you take this journey with them.
To draw on this idea, consider the AEC (Architectural, Engineering, Construction) industry, an industry many reprographic firms most likely serve, where the adoption of technology is rapidly as new technology hardware, software and services build efficiencies into their productivity.
Your customer-base in the AEC industry includes architects, engineers, construction professionals, and project managers, all who have many responsibilities to get their job done. Technology plays an integral part of their business and if you spoke to each one of them, I’m confident you would quickly come to know their pain points. If you had available solutions to one or more of these pain points, you become a valued business partner. Consider the conversation you might have with them, taking the lead to share with them openly, your desire to grow your business in technology solutions and help them add efficiencies and grow their business too.
Education is mission critical in your business development plan. Once you have direction to your “subject matter expert” business approach, you have a place to begin. Time is well spent when you gain knowledge. If you have a family member or valued associate in your business that is looking for a challenge, consider giving them an opportunity to become a subject matter expert in a technology. For example, drones are a growing market lending itself to services and serves the AEC market very well. This might be their ticket to breathing new life into the business and an opportunity for self-development. When your company is able to provide the resources to train and keep your customers knowledgeable on the products they buy, you have again added value to your business relationship. Other technologies might include 3D scanning, AR/VR, and CyberSecurity.
Partnering with a technology solutions distributor that offers a broad spectrum of products, services, and education is the best place to start. They know the products they sell, the markets they serve, and are tapped into the manufacturers who sell them. Just as you help build success for your customers, you become successful, it is reciprocal with your distributor.
SYNNEX, a leading IT distribution company, is dedicated to providing leading and emerging technology solutions that meet the needs of the future for its customers. They do this by offering subject matter expertise, manufacturer technology expertise, and services to execute IT solutions big and small. To begin your journey in technology solutions, reach out to the SYNNEX INDUSTRYSolv AEC team at AEC@synnex.com