CE Pro August 2023 - 58

Channel
IN BRIEF
your advantage though: and
even increase overall project
profitability in the process.
To be clear, I'm not suggesting
you lead with your
discount options. Even in a
recession, I'm a big believer
in " top-down " selling:
presenting your top model
first and stepping down
from there if necessary.
The logic behind this is
that once a customer is
exposed to the premium
option and gets a tangible
sense of ownership -
they've developed an appealing
picture of the item
in their home - it gets
more difficult for them
to give it up by stepping
down to a lower option.
Consequently, if you
start at the bottom, you
can only step them up so
far, whereas if you start
at the top, they'll be less
enthusiastic about stepping
down. By using this
approach, your average sale
will increase significantly.
Furthermore, a recession
can actually reinforce this
instinct, creating a scarcity
mindset that makes consumers
in the " pained but
patient " and " comfortably
well-off " categories especially
sensitive to holding
on to their quality of life.
You just need to meet
them halfway. You can
adapt the top-down sales
model by demonstrating
your willingness to make
that premium offering
accessible. For example, be
open to having the customer
source commodified
components that aren't
going to make you much
58 | CE Pro August 2023
profit anyway.
Case in point: Stone-Gidden,
a King of Prussia, Pa.,
custom integration firm,
decided to stop selling
displays. The result was
their most profitable year
on record - even though
sales volume was down
30%. How is this possible?
Stone-Gidden was no
longer burning time and resources
sourcing, shipping,
or storing devices with a
razor-thin margin, but they
were still selling installation
and profitable add-ons. By
honing their offering to the
most profitable elements,
they created a win-win
scenario for themselves and
their clients.
The apparent willingness
to compromise (without
compromising the bottom
line) can have powerful
impact on consumers in a
recession mindset. " Pained
but patient " consumers
will move on big purchases
when they see an opportunity
to save.
As we brace ourselves for
yet another rollercoaster
ride through recession-land,
start preparing for the thrills
and chills that lie ahead. By
understanding the recession
mindset, focusing on the essentials,
and being ready to
negotiate (without cutting
your own throat), you'll not
only survive the ride but
come out smiling, ready to
conquer the next challenge
that comes your way.
DAVE CHASE, Co-Founder
and CEO of Cogent360, is
a 30-year industry sales
channel veteran.
Ellipsys is NMG's commercial counterpart to the Oasys
and Azione custom integrator memberships.
Nationwide's Ellipsys Group
Debuts at InfoComm 2023
According to Nationwide Marketing Group, the full
scope of its " Drive to 1,000 " custom integration division
came into full view during InfoComm 2023, the
commercial audio/video trade event that took place in
Orlando, Fla., in June.
There, Ellipsys Commercial Technology Group made its
debut welcoming charter members and vendor partners to
the fold.
Ellipsys, which joins a CI network that includes Oasys
Residential Technology Group and Azione Unlimited,
aims to fill a void in the commercial integrator industry
by providing emerging systems integrators with a way
to grow their businesses through education, networking,
unmatched vendor programs, and world-class
business summits.
Earlier this year, Nationwide tapped industry veteran
Chris Whitley to lead the commercial initiative. Whitley,
Nationwide's executive director of commercial integration,
brings more than 25 years of experience to the table,
most of which has been spent establishing and growing
commercial integration buying groups.
" We are thrilled to have Chris on the team and leading
the charge around Ellipsys, " says Nationwide Marketing
Group COO Dean Sottile. " His diverse background and
previous work experience leading buying groups made
him the perfect fit for this new commercial initiative. He
understands where the opportunities exist in this industry
and can provide a clear action plan that he will execute
to the benefit of both integrators and vendors. "
cepro.com
http://www.cepro.com
CE Pro August 2023

Table of Contents for the Digital Edition of CE Pro August 2023
