While the COVID-19 pandemic is slowing down in some places, supply chain issues continue to linger around the world. We can expect supply chain issues to linger throughout 2022 and beyond in many industries.
A variety of factors have converged to create these supply chain problems. Staffing shortages have slowed down production at factories, while a shortage of truck drivers slows down delivery times. Meanwhile, increasing consumer demand has meant that warehouses are filled to the brims.
For integrators, a lack of semiconductors and other tech supplies have made projects hard to get off the ground. Now is the time to adapt your sales strategy and prepare your company for all of the ups and downs yet to come. Here’s what to consider as the supply chain crisis rages on.
Managed Services Can be your Savior
Now is the time to pivot to focusing on managed services rather than chasing project after project. With managed services, your team is the product, providing support directly to your customers rather than just implementing new products.
Unlike physical products, managed services are always available to sell, so supply chain delays become irrelevant. You can also use managed services to supplement physical products that are currently delayed in transit. This keeps your customers’ systems up and running in the interim so that you do not lose them.
Additionally, managed services have the potential to increase your margins. The average profit margin on a managed service contract in North America is 32 percent. This makes them a strong investment in the future of your business in addition to being a good short-term strategy.
How Your Business Can Adapt now
It’s important to acknowledge that these supply chain issues may not go away anytime soon. This means that now is the time to start building your managed services platform.
Start by looking at your key accounts and crafting a managed service platform that fits their needs. If you are concerned about the service deliverables, engage with an organization such as Collabrance to help deliver on the service commitments. Next, come up with a sales process to start going after projects you have sold in the past. This can be quick revenue wins for your organization and will help bridge the gap until the supply chain catches back up.
With the current state of the global market, supply chain issues are likely to continue for the foreseeable future. For integration companies, transitioning to a managed services model reduces your reliance on the global supply chain. This sets you up for a more sustainable future.
Want to find out how to jump start your managed services growth and create a sales process that can grow your managed revenue? Revenueify’s tactical sales coaching and Managed Service Enablement can help keep your team on the right track during this tumultuous time. Connect with us today to start a conversation.
Revenueify is not your everyday sales consulting organization. We combine sales process consulting and tactical coaching with data analytics to grow your revenue. We help companies execute on day-to-day tactics of growing revenue through our Revenueify Technology Solutions, data-driven insights, and tactic-driven sales coaching.