The end of the year, when business traditionally slows down, is a great time to review what went well in your promotional products business and what you can change for an even better and more prosperous 2018!
Use this handy checklist to get ready for a stellar 2018!
1. Create systems. Year-end is a great time to organize your office and set up systems. What can you do to work more efficiently? What tasks can you delegate to someone that can do them better or more efficiently? What clutter can you eliminate to make your office more conducive to getting more done? Create a simple operation’s manual, so that even if you’re not there your office runs smoothly.
2. Segment your client list. Rank your clients by sales volume and profitability. Look for similarities and common industries. You may be surprised at what you learn. Pay attention to your most profitable clients. Think about ways you can bring in even more sales from those clients in 2018.
3. Prepare a preferred supplier list. It makes sense to have a preferred supplier list. These are the suppliers in the top product categories that you give the bulk of your business. You’ll be more familiar with their products and staff and better able to sell their line. When you have preferred suppliers you’re frequently eligible for rebates, EQP or free or low cost self-promotions.
4. Know your top-selling products. Which product categories did you sell the most in 2017? Which product category do you enjoy selling most? Is it possible to create a niche around that product category?
5. Know your top markets. Which market segments did the bulk of your business come from? Is there one industry or vertical market that you really enjoy selling? Can you establish yourself as an expert in those markets and bring in even more sales? Remember, you can’t be all things to all people but you can be a star in your target market.
6. Update your website. What can you do to enhance your website it and make it stand out from the competition? Is your website mobile friendly? Do you have an FAQ page? Do you have video? Do you have a free report or giveaway that will help you capture your website visitor’s names and stay connected to them? While you’re at it, check all the links and contact information on your site to make sure they’re working correctly.
7. Create new marketing strategies. Which marketing strategies worked the best for you this year? Which marketing strategies can you let go? Which marketing strategies did you enjoy the most? Do you have a social media marketing strategy? Now, is a great time to create your marketing plan for 2018 and any new strategies you will try.
8. Express Gratitude. If you’re like most promotional products professionals you’ve got a list of top clients you’ll be thanking with a gift or a note, but here are some people you may not have thought about thanking, but I’m sure would appreciate hearing from you: your favorite suppliers, your mail carrier and UPS driver, the bookkeeper responsible for writing the checks at your top client’s office, your colleagues and family who give you support and guidance to help your business grow.
9. Know your tax obligations. Now is the time to connect with your tax preparer to review year-end tax savings strategies. It’s also a great the time to compile and organize your financial records. You’ll be surprised how much you can save when you plan in advance.
10. Get educated. Our industry offers many educational opportunities for distributors. Consistently look to learn the latest strategies to increase your sales and income and you’ll be way ahead of the competition. Speaking of education, if you missed my latest free webinar on How to Finish the Year Strong, you can listen and watch it here (http://promobizcoach.com/finish-strong-secrets-catapult-year-end-promotional-products-sales) plus get some amazing year-end deals from top suppliers.
Here’s wishing you all the best for the holidays and a prosperous new year!
Rosalie Marcus, The Promo Biz Coach, is a promotional products business expert, coach and speaker. Combining her skills and years of experience in promotional sales, she helps her clients sell more at higher profit margins and dramatically increase their incomes. Get a free special report: 10 Proven Ways to Thrive in Promotional Products Sales… in Any Economy at www.promobizcoach.com. Contact her at Rosalie@promobizcoach.com. Meet Rosalie and attend her free education sessions at EXPO in Vegas. Learn more here.