Is 5 The Magic Number?

 “The oldest profession in the world” might only be number two! Before a transaction can be consummate, someone had to conduct a successful sales pitch! So with 117 billion people having populated the planet and 8 billion on it right now, the only constant and continuous occupation has been sales. 

Thousands of products, services, entertainment, beliefs and behavior have had a desire influenced by someone making a sale. From romance copy in print advertising to retail product demonstrations, “nothing happens until someone sells something”.

In addition to sales being required in virtually every transaction, an entire industry has developed providing sales training to the millions of salespeople plying this trade. Unfortunately most of the “rules” that are repeated again and again may actually be contrary to the objectives of many sales professionals. This is especially true in our promotional products media industry.

There are a multitude of rules: 7 steps in a sales cycle, ABC (Always Be Closing), 5 customer contacts to close a sale, closing on objections, developing urgency, installing fear (as in selling fire alarms) and others. But very little that deals with building relationships, lifetime client value, forward selling (more on this later) or other techniques to accomplish client loyalty.

The first step to understanding sales in our industry is never be closing. Certainly developing an order for promotional goods to carry marketing messages is how we get paid, but it is the ongoing professional relationship that produces the greatest revenue over an extended period of time.

It is a bit ironic that most of our sales revolve around helping clients develop ongoing business with their customers, but we fail to employ techniques for our own sales efforts. A quick look at the top sales organizations in our industry, including both distributors and suppliers, strongly suggest that cultivating ongoing relationships produces significant revenue. Those that rely on selling every order with a strong reliance on competitive pricing, show slower growth or no growth at all in some cases.

I have found some techniques  that have worked for me, that have also worked for people I have suggested them to. 

Avoid spending all your client’s money. When a client gives a reasonable budget for a promotion,  making suggestions that come in below the budget, will demonstrate to your client that you have worked in their best interest by meeting the needs for a successful promotion at a better value than anticipated. 

Forward selling is a technique where the funds NOT spent (as noted above) are suggested to be applied to a future promotion that reinforced the current one. Forward selling also applies to planning promotions within an annual budget. Having the flexibility of an annual budget allows the greatest value for the client as it makes buying promotional items when costs are the lowest, even if they will not be distributed immediately.

Invest in spec samples (not random). By having a good understanding of your client’s business and how to promote to their best customers, prepare a presentation including a sample of the item you are recommending with the client’s logo and message. Be sure the supplier you are considering will produce a spec sample for you as some will not. If an order is not placed at that time, leaving the spec sample with the client will likely influence future business. Spec samples are a great investment.

End user shows (when professionally done) can be a great way to build client relationships. Focus on your top client rather than even a small group. Meeting for lunch or dinner on show day will make your client feel very important. Having a couple hours exclusive time with your client is golden.