Not all commercial printing companies purchase their equipment. In fact, most do not.
Because of the high initial cost of production presses, laminators, binders, guillotine cutters and other equipment, most companies prefer to lease them instead.
So turnover is an element that needs to be considered. If you run a B2B company that is marketing lease contracts for B2B commercial printing equipment, these five tips should help spread your message in a positive way, to those who can best respond to it.
Doing so will help you secure more lease contracts, thereby boosting your own company's revenue.
#1) Be Sensitive to the Life Cycle of the Lease.
Like a farmer enjoying his crop year after year, by nurturing your products in the field, with an eye toward both planting season and harvest season you will benefit from a long-term relationship with your customer, and vastly more likely loyalty at time of renewal.
If you base your customer service protocols on the lowest cost model, you will have customers than can be enticed away from you by a few cents on the dollar savings.
The term “Value Added” is used for a reason, it simply works.
According to a recent study by U.S. Marketing Report, 86% of production print business owners say that “customer service and support” is currently the number one metric used to base leasing decisions on, while “company stability” and “ROI” have slipped from the top spots.
One of the worst things you can do is have the sales staff/support staff essentially ignore a customer, only to show up when the lease is coming due. Keep in touch, be responsive, know where your customers are in their lease, and keep your relationship fresh, to improve your chances of renewal.
#2) Be Flexible in Offering Terms of Lease
You’ve sold the customer on your tech, they are impressed with your speeds and feeds, color quality gets the OK, and everyone is happy.
So why does the lease paperwork stall? There are as many reasons for this as there are customers.
Your three-year lease does not fit with their two-year grant, or payments are easier for them mid-month instead of the first. You are asking them to make a multi-year commitment, however there is no one-size-fits-all model that works for everyone.
Production printers say they are often frustrated when they must alter their own systems to fit the lease, instead of having the lease fit their systems. Flexibility is a key component to customer choice.
#3) Offer a Variety of Equipment to Lease
One of the least appealing parts to being a guest at a high-end function is the limited menu.
Chicken or fish or vegetarian? That’s it? Even if all three are delicious, c’mon, that’s it?
Just as scalability and flexibility in financing is preferable, so are multiple choices when a customer is trying to fit a piece of equipment into their workflow. Too big and it requires excess steps to fit in, too small and it cannot handle the volumes.
If the machine that fits their exact needs cannot be located from you, they will go to your competitor, or if they do obtain a device from you, they will have to monkey wrench it into their workflow, successfully or not.
And when it comes back to you for refurbish or resale, you will have to deal with it. Once again, having options to choose from makes the ultimate decision easier.
#4) Provide Maintenance and Upkeep at No Extra Charge
This should be a no-brainer, and for a host of reasons, it is becoming the norm in the industry, as well as becoming expected by your customers. But in case you are still on the fence about providing maintenance, consider:
- Customer satisfaction
- Improved customer perception of machine quality
- Improved customer perception of lease value
- Improved customer use of consumables
- Improved lifespan of equipment
- Improved resale value of equipment
A great many manufacturers in this industry have exceptional service and support, and some do not. But very few companies market their service & support as prominently as they should.
From your customer’s perspective, it can be a deal breaker.
#5) Market to the Lessee’s Heart, not their Head
There is an old expression in marketing, “You do not sell the drill, you sell the hole.”
So, you are not marketing production printing equipment, you are marketing stacks of printed product without hassle. Not bindery equipment, but finished books faster than ever. Not a lamination device, but a glossy sheen that highlights their print and increases sales.
Those shopping for production print equipment already have a pretty good idea what they need to run their business, so a dry comparison of stats is unlikely to make much difference.
And, being human, they buy with their heart first, then use facts and figures to justify their decision.
Appeal to their problems, the hassles they encounter, and tell them how your machines can not only solve their problems, but provide benefits that make their life easier, save them money, or help them sell more product.
Marketing Leased Products Works Differently Than Direct Sales
There is a hesitancy in leased contracts marketing that does not exist in direct sales, even of the exact same product.
There is quite likely some potential customers in your markets that would not only be able to purchase outright, but prefer to do so. While these unicorns do exist, they are rare, and marketing to them is significantly different than marketing to lease customers.
Because leased equipment has a finite shelf life, and depreciation is not the customer’s issue, and maintenance does not add to overhead, leasing is often more attractive to customers.
But there is a flip side to this, some customers assume that they can play competing salesmen off each other to get the better deal, or use your competitor’s marketing campaign against you when it comes time for renewal.
Only by adding real value to the lease as described above can you ensure your message is well received by your customers. Putting yourself in their place when marketing will help you shape your best message.
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Christopher Reilley is a print technology expert, QA testware designer, copywriter, former poet laureate, certified G7, and the creative director for The Bytesized Studio.
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