Competition is a great barometer of a healthy marketplace. The more competition the healthier the market. The promotional specialty advertising industry is very healthy indeed. So how do we win and what is winning?
Obviously winning will not be the same for all people. It may be a good balance between an acceptable income and time for family and friends. For others it may be getting each and every quote. Still others may have a desire to secure specific clients. But the common trait of all winners is that they have a goal – a direction and a description of what they want to accomplish. Without that none of the suggestions that follow can be as successful.
Have you ever stopped to think that there are thousands of articles, books and seminars that provide information on how to beat the competition. If everyone that accesses this information did what they learned – then nothing would change because everyone would move up the business ladder together. The reality is that only a very few will actually take action on the information. The following beliefs and attitudes can put the brakes on winning.
The "know it all" attends training because the boss said she should. Or maybe it is really a social activity and there is nothing new to learn anyway. They convince themselves that they already know everything that is being shared. The result is that nothing will change for them. Next you will encounter the naysayer proclaiming "that will never work" and therefore will never try. My favorite is the "been there, done that" excuse. This guy never stops to realize that if he really did follow the advice properly in the past he might have been in a better place now. Or – if it worked well in the past, why not do it again?
The most common reason for failure to win is the belief that only price matters coupled with "I can't compete with the big boys" (referring to the largest competitors in the region). This compound excuse introduces a financial and administrative roadblock – but not in reality! If you find that you use this logic to explain why you find it difficult to compete you may benefit from an alliance with a provider of distributor services. There are distributors that provide only the support and financial structures you need to win in the marketplace while you maintain your business identity and ownership. Each of these specialized distributors operates differently so investigate and find one the feels right to you.
"Everyone pulls for David; nobody roots for Goliath." – Wilt Chamberlain
70% of the working population work in small businesses. There is an empathetic relationship, a common ground that can be one of the most important assets a person can have in the promotional specialty advertising industry.
Given the choice, most people will work with someone they like to do business with – not a website, not a faceless voice on the phone or an email. So if there is one general recommendation that will put you on the path to winning it is connect with your customers and prospects. Go ahead and use all the communication tools, the emails, newsletters, and mailings – but every once in a while let your customers see your face; you will be amazed how this builds your business.
There is, however, a secret to winning. It is only a secret because most people have linear thoughts. The conclusions they reach are logical, straight forward exercises in reason. "If Mary is in the same business I am in then Mary is a competitor" – is they way most people think. The secret is that this logic is wrong! Chevy is not in competition with Rolls Royce! They both sell the same product but to totally dissimilar customers. These businesses know what they are selling. Chevy is selling value, reliability, ease of ownership and safety. Rolls is selling prestige, comfort, lifestyle and performance.
Do you want to win? Then know what you are selling. Once you know that you limit the competition dramatically. In my regular "day job" I have interactions with many top selling sales professionals in this industry. Most have an area of focus that allows them to leave most of the competition behind. Sure they do just about every type of promotional activity or program but their client base and prospects know them for their focus. One sales pro is known for building successful fund raising programs for hospitals, schools, and not-for-profit organizations. Another develops employee performance enhancement programs, a young lady in our organization works almost exclusively with event planners.
So the secret is to win by focusing on the thing you do best, enjoy the most or that you already have a following in. The benefits are that you have loyal clients, many more referrals, stronger margins, far fewer competitors and a growing expertise that will continue to grow your reputation, business, and income.
Gregg Emmer is chief marketing officer and vice president at Kaeser & Blair, Inc. He has more than 40 years experience in marketing and the promotional specialty advertising industry. His outside consultancy, providing marketing, public relations and business planning consulting to a wide range of other businesses, has been a useful knowledge base for K&B Dealers. Contact Gregg at gemmer@kaeser-blair.com.