The Neglected Treasure
How to tap on FingerTec resources?
By Teh Hon Seng, Managing Director
 
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.
 
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.
 
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.
 
Why are our resources important?
 
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.
 
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.
 
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.
 
How to use our resources?
 
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?
 
Some suggestions:
 
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:
 
Focus on mass market on top of the existing project-based sales;
 
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.
 
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.
 
Improve sales term and use FingerTec as cash generator
 
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.
 
a. 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.
 
Tap on FingerTec resources:
 
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.
 
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.
 
On how to tap on FingerTec resources, here are some tips:
 
A. eNewsletter:
 
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.
 
B. Marketing materials
 
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.
 
C. “Sell” the resources, not merely selling products
 
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.
 
D. Register your customers’ FingerTec readers through Global Product Warranty
 
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.
 
Immediate cooperation needed for the below issues:
 
1. Stay close with FingerTec for future developments. Sample our new products and you will find some new opportunities;
   
2. Contribute story to our e-newsletter regularly;
   
  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.
 
 
Any comments or feedbacks please email to editorial@fingertec.com.
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