Now It’s Your Turn

I went to lunch with a successful, senior level distributor who said 100% of his business is from established customers and referrals from them. He said he did no advertising. 

Reality was a bit different however! Certain things he did had become so automatic that he didn’t even realize what a strong marketing campaign he actually had. From regular civic organization meetings where he was the featured speaker, to displaying at end-user shows, he had contact with hundreds of potential customers and reinforced existing relationships. He used several different promotional items depending on the event and/or the prospect’s business and got a follow up phone number and email from just about everyone.

Since he never specifically listed the activities -  they were never considered a campaign. 

Where do you stand? Do you have an organized plan for building your business? If not, why not start now? List everything you currently do that could be considered advertising for your business. Then see if you have any gaps where good prospects are being missed. If you tend to specialize in a specific area (auto dealers, financial businesses, construction/remodeling, health and fitness, transportation, etc.), be sure your messaging and delivery is tailored for that prospect.

Be certain to include “maintenance” of existing customer relationships as part of your regular activities. Certainly what you decide to do will reflect your individual relationship. During my years as the owner of a promotional products media company, I used a simple formula to determine what to invest in existing customers. I used 3% of what profit the account generated in the previous year. A customer that did business that generated $1000 net (minimum), got a $30 holiday business gift from my company. Large accounts that generated substantial profits (national supermarket chain generated $50K and made $1500 available) but had restrictions that prevented gifting to buyers, received a credit memo that “primed the pump” for healthy business the upcoming year. 

I kept a dedicated account where the 3% was held so it never felt like I was using “out of pocket” or working capital when these funds were used. The results were always amazing. 

New clients who have not been active long enough to have hard numbers from previous sales, will require an educated guess based on the business they have already done and the potential you expect. 

The general marketing I did with a variety of promotional items (earbuds, ice scrapers, writing instruments, magnets, drinkware, pocket knives, magnifiers and more) did not charge against the 3% accounts but were part of my general overhead. 

It is not expected that you will follow this example, but what is hoped is that you will structure a campaign or ongoing program for your business. Establishing how your marketing activities will be funded is essential. If that is not in place it is too easy to talk yourself into “saving” the money! 

One area of marketing that is hugely effective and virtually without any cost or investment other than a little bit of your time, is public speaking. Every city has business clubs, civic organizations, not-for-profits, schools and lots of other venues where you could present a talk.  

For more than a decade I did a presentation and workshop for graduating students at an arts and design college. These soon to graduate graphic designers, photographers, set designers and graphic artists had completed their studies and needed to know how to market themselves. Some expected to freelance (be their own business) and others wanted to work for established companies. They all needed to know what to do and what to avoid in the process.  

I continued to mentor some of these students and the return on this investment was substantial and long term. Two of the students who graduated in 1978 retired last year. We stayed in touch and I received business from them throughout their career and several different employers. 

If you fear, or are not excited about public speaking, it is likely because you have not done enough! Start off with short informative presentations of about 10 minutes. It could be as simple as addressing a business association's monthly breakfast meeting and explaining how economical and effective promotional products media is. Be sure to select a perfect promotional item to give to all the attendees so getting in touch with you is as easy as possible.

Do something! The marketing you do for your own business is a fantastic “demonstration” for your client to experience the power of promotional products media.