Boost Technology launches “Whitespace Awareness Week” March 11-15th 2019!
To help raise awareness of the low cost and high impact opportunity associated with implementing a whitespace sales & marketing strategy, we are today announcing the launch of the first ever “Whitespace Awareness Week”.
Whitespace, otherwise known as “Opportunity gaps”, is the identification of products or services in a VAR’s/MSP’s portfolio that have not been sold to a customer.
Whitespace Awareness Week will run from March 11th to 15th and will involve contributions from across the channel, the objective being to help VARs and MSPs understand the profitable revenue benefits associated with cross/up-selling more products and services into their existing customers, together with practical advice on how to do it cost effectively.
Boost’s Managing Director, Darren Spence, explains, “You only have to look at the CRN Top VARs 2018 Report. The report shows that the top 100 VARs grew their collective revenues by 13% yet their collective net profits were down 62% to just 1.8% of revenue. This shows that whilst sales are up, business is being won at ever decreasing margins. Rather than following a new-logo growth strategy, VARs could be making more money faster and at better margins if they focused on their existing customer base.
In addition to the CRN analysis, market research shows that there is a 60-70% chance of selling something else to an existing customer and only a 5-20% of selling something to a new customer. Organisations therefore that invest more in their current customer base can expect quick returns, more loyal customers, and increased profitable revenues.”
The campaign will include insights, marketing & training advice, and information on how technology can be used to help organisations make better decisions and interact more collaboratively and strategically with their customers.
To kick start the campaign we have developed a Whitespace resources section on our website (www.boost-technology.co.uk/whitespace) which features an interview between Darren Spence and industry journalist, Sara Yirrell. In addition we will be hosting a webinar on 28th March to help further educate the channel on the market opportunity and provide advice on what to do first.
Vendors already signed up to participate in the campaign include NetSuite (from Oracle) and the SaaS collaboration solution, Client Share. Others are due to be added this week.