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How to tap on FingerTec resources? |
By Teh Hon Seng, Managing Director |
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Many of FingerTec® partners have joined the
price wars and many also have been dragged into the
longer credit terms quagmire when competing with
rivals. One of the frequent arguments is they couldn’t
and shouldn’t defy market rules in order to survive in
their markets. And slowly, these “market rules” would
siphon away any profit and cash flow they have and
pull them to a muddled condition.
The question is, can we go against the grain
and thrive in our business at the same time? And my
answer to that is a definite yes.
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I always want FingerTec to be a maverick in
the market. However, I didn’t just want to be different
without having a well thought plan; I make sure that our
strategies are miles better than the competitors. The
things FingerTec possess that no other rivals in the
industry have are our extensive comprehensive online
resources! My goal is to build FingerTec brand as a
well-known biometrics brand for commercial security
and office automation products in the world and for that
FingerTec is deploying practical branding, a strategy
where we focus more on practicality of our
brand/products rather than the mere image branding. |
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With everything readily available, it’s a waste
for our partners NOT to use our resources and I believe
that by taking advantage of these materials, it will
benefit your company in the long run. |
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Why are our resources important? |
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The objective of us providing these resources is to help
all our users worldwide, be it resellers or end-users.
Therefore, we design all our resources with practicality
in mind. If language is the barrier for us to reach our
target audience, we implement videos to provide pictorial
explanations. If time difference between you and us
is apparent, we put everything online for you to access
around the clock. If you can’t send your staff to get
training with us, they can download all the training
materials online without any cost. |
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A series of micro websites have been developed
to handle important issues, which are relevant to
everybody. Reference to spare parts can be checked
online and partners can
claim for warranty through
our warranty micro site.
Comprehensive sales information,
sales materials
request and accessories
offered by FingerTec are
available and updated online
for partners’ use. Technical
problems and training materials
as well can be downloaded
online at anytime without any charge. |
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All in all, we go to great lengths to make sure
that we take care of all your needs and because of that,
we urge our partners to use the resources available and
extend them to your clients for the benefit of everybody. |
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How to use our resources? |
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A majority of our partners deploy a small part of our full
fledge resources, and often time would return to their
comfortable sales strategies, battling price wars and
following competitors move. If they don’t convey the
availability of resources to their resellers, these
resources would not be fully utilized and this is
especially important when distributors are concerned.
Distributors need to convey that these resources exist
and readily available for resellers to use and even endusers
to access. The reluctance or lack of initiative from
distributors’ side to inform their down line of availability
of this service would not do good to any party.
How to tap on FingerTec resources? |
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Some suggestions: |
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From my past experiences on walking the path not taken, I’m honored to share some useful tips which I think
would improve your sales and lay a better groundwork for your business: |
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Focus on mass market on top of the existing project-based sales; |
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It is recommended that our partners put focus on mass market on top of the existing project based sales because
mass market’s requirements are general and simpler as compared to project-based sales, therefore easier to
fulfill. The quantity per order might be smaller but the frequency of order is higher, therefore frequent repeat
sales. |
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The distributors are also encouraged to appoint more small companies to promote FingerTec in the mass market.
Smaller companies usually do not have their own T&A software and they would rely more on FingerTec
products as a complete package (with DIY concept applied) which can be easily adopted by end users. |
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Improve sales term and use FingerTec as cash generator |
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I strongly believe that cash term can be achieved in many countries. Although some might argue that the
competitors provide credit terms, so you have to follow in order to survive. FingerTec proved that cash term
works. We changed to cash terms about three years ago and it has not affected our business negatively, in fact
we thrive. Here are some of my suggestions for the cash terms business to work. |
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Recruit more small resellers that do not mind paying cash; |
b. |
Sell to end users with small quantity order and insist on cash; |
c. |
Apply for credit card terminal(s) to let those who needs credit term to use credit card. |
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Tap on FingerTec resources: |
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FingerTec has a lot of tools, materials and comprehensive system that almost no competitors can offer. All these
materials are available to help our partners grow their business in their respective local markets. However I’ve
seen many of our partners do not know how to make full use of these materials to their advantages, instead of
dragging themselves to follow and succumb to competitor’s low price strategy. |
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For example, the fiercest competitions definitely come from China, which uses price as their only weapon.
In Malaysia, FingerTec products are priced much higher than China’s product, and we still enjoy 80% of the
market share, likewise in Indonesia and some other countries. |
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On how to tap on FingerTec resources, here are some tips: |
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A. eNewsletter: |
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We email FingerTec eNewsletter monthly to our resellers and
prospective resellers worldwide. You can make use of the
same eNewsletter as your own newsletter to reach your
dealers and potential dealers or even your customers every
month. If our partner can occupy one column with your own
story (FingerTec in Sri
Lanka/ Indonesia/ /Malaysia/ Egypt/ Argentina/ etc), the
impact can be created from the newsletter as it would be more
apparent in your country. |
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B. Marketing materials |
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Besides encouraging your resellers to register as members for
all FingerTec support websites (sales, technical tips, warranty
and etc), from time to time you need to replenish brochures,
give away posters and bunting, guide the resellers on how to
make use of the marketing video and product power points.
Take initiative to send softcopy of the relevant training materials
to them, and etc. In Malaysia, without request, from time
to time we send new brochures, marketing videos and etc to
all resellers, not counting the marketing materials that we
have attached together when we deliver their orders. |
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C. “Sell” the resources, not merely selling products |
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Selling only FingerTec products, you’re forcing yourself to
compete neck and neck with competitors, which might wrap
yourself up in some unfavorable points. So, “selling” FingerTec’s
warranty period, spare parts allocation program, DIY concepts,
repair website, ease of support and installation accessories, 3-tier
support system to end users (reseller, distributor, and FingerTec as
manufacturer through support@fingertec.com – reply in 24 hours
and http://user.fingertec.com) you will find that you can dart all the
favorable points against competitors, and distinguish yourself
easily from all the rivals. |
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D. Register your customers’ FingerTec readers through Global
Product Warranty |
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You help your customers to get a 14-month warranty (instead of
12-month) using the online registration, and you will automatically
enjoy 20-month for that registered readers. Besides, your customers
will get quarterly user e-Newsletter that will keep them close to
FingerTec. Besides, we will launch in the future an on-going sales
introduction campaign that eventually will benefit our resellers and
partners too. |
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Immediate cooperation needed for the below issues: |
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1. |
Stay close with FingerTec for future developments. Sample our new products and you will find some new
opportunities; |
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2. |
Contribute story to our e-newsletter regularly; |
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We had successfully turned the “PUSH” selling technique in the past to the “PULL” selling technique at
present by adding more resources and materials and deploying better system over time. We hope our experience
can be of useful reference to you. |
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