Help Customers Understand Total Cost of Ownership

Savvy consumers understand that the sale is just the beginning and that the overall cost of a purchase is never just about hardware or software. Time, money, and effort are required for proper installation and roll-out, as well as for ongoing maintenance. A successful salesperson can help close the deal by helping their prospects understand the total cost of ownership over the lifetime of the product or service they are selling.

calculating expenses

In today’s rapidly evolving technology landscape, innovations and upgrades are also a constant, especially for computer hardware and software. For many solutions, these updates and upgrades translate into ongoing costs. Even on a subscription model, there is often cost and resources required to implement new versions. As time goes on, these expenses add up.

Speaking honestly about these costs and helping the prospect determine what they can expect to pay over the lifetime of the deal goes a long way in building goodwill. These discussions can help you finalize a sale against a competitor who initially seems like the better deal, but whose numbers fall down when total costs of ownership is considered.

It is easy for prospective customers to get excited about low up-front costs, but lawyers are smart and can usually be made to understand that total cost of ownership is the real metric to evaluate. The ability to present the costs associated with nQueue document solutions transparently helps our salespeople close the deal. Clients feel confident that their sales rep is both knowledgeable and honest, and that translates to long-term goodwill – and repeat business. 

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