What I Wish I Had Known When I Started in Promotional Sales

They say hindsight is 20/20. Looking back on my promotional products sales career, these are the top things I wish I had known when I first started out.   

• Qualify prospects quickly. I’ve learned that selling is like dating. Just like in dating, not everyone will meet your criteria. Focus your time and energy on those people that you most enjoy working with and have the ability to give you larger orders and repeat business. Be willing to walk away from people who are only looking for the lowest price, not the best advice!

• Target specific industries and clients. I’ve learned that you can’t be all things to all people but you can be a star in your target markets. Specialists earn more than generalists, across the board, and consistently attract more business. People like to do business with experts.

• Be choosy about Suppliers. I’ve learned that choosing a supplier based on the lowest price is not a wise strategy. Poor imprint quality, missed event dates, and inferior products can put you out of business. The best strategy is to choose a core group of quality suppliers in each of your top-selling promotional products categories and build strong relationships with them.

• Pay attention to the details. I’ve learned that “the devils in the details”. Promotional products are custom imprinted and lack of attention to detail can cost you dearly. Always double and triple check your orders before you send them to a supplier. Always get a proof on every first-time order. Paying attention to the details can make a huge difference in the success of your business.

• Manage your money. I’ve learned the importance of a money management strategy. A few tweaks in your business can make a big difference in your bottom line. For example, evaluate who your most profitable customers are and what products generate the highest revenue. Ask for deposits or pre-payments on your promotional product orders that will, at the very least, cover your costs. Avoid discounting and maintain a healthy profit margin on all orders.

• Follow up and follow through. I’ve learned the importance of not just following up but also following through on commitments. Did you know that 80% of sales are made on the 5th to the 12th contact? That's why it's so important not to give up. Being consistent and persistent is the key to your business success. Use various strategies to keep in touch such as handwritten notes, virtuals, and spec samples. Provide valuable information and marketing tips with each follow up. When you commit to do something follow through with it that’s how you establish trust and repeat business.  

• Work hard, play hard. I’ve learned the importance of taking a break. Starting a promotional products business can be challenging. Long days and working on weekends come with the territory. That’s why it’s so important to schedule time off. You’ll come back to work refreshed, energized, and ready to tackle the day!

What do you wish you had known when you first started in promotional products sales? What would you add to this list?