Promotional Products Niches
Everyone in the PP business has the same suppliers available, and therefore the same list of products to offer their customers. So how does a sales professional or a distributor differentiate themselves from others. We discussed price in the last post on this subject. Not a good choice in my mind, at least not for the long term. Here are a few others:
1. Terms - It is common in this industry to require payment in advance on the first order and deposits on some other orders. A niche would be to give everyone open account without any credit check at all. Just look the client square in the eye and say "I'll find you if you don't pay," with a crooked grin. Risky. Sure, but count it as a promotional cost. Like retailers who put their product display hooks, there will be losses, but the losses will be offset by the potential gains. Like the price approach, this should be used in a limited way to gain share, and then dropped.
2. Hours - Make yourself available any time of the day or night. Tell the client that it is ok to call at 10:00 p.m. or 3:00 a.m. if there is an issue. Give them home phone, e-mail, cell phone, etc. It is unlikely that many if any will abuse this. It just makes you different.
3. Rush - Offer same day delivery at no extra charge. Sure, you will be charged extra. Yes, it will cut your margins. It is designed to build biz, and then be taken away later...quietly. Be sure that you have a stable of dependable same day suppliers in the key product categories.
4. Resume' - Print up a resume' just like the one you might use to get a job. Include the opening paragraph: "Seeking opportunity to help build sales with an growth oriented company. Hoping to find long term position where I can grow with the company." Then list education and employment history followed by Case Histories with clients you've worked with.
Present the resume at your first meeting, and make it clear that you aren't kidding. You are truly desirous of becoming the head of their promotions department, and intend to bring the sum total of your talent, experience, and personal involvement to insure the success of their promotional efforts. Then do it. This, unlike the others is a much longer term niche. But even this doesn't last forever with $1000 per year clients. Your time must be allocated appropriately to the profit opportunity.
I could go on offering ideas for niches. Maybe you have created one that you'd be willing to share. Just hit the comment button below and help your fellow reps.
1. Terms - It is common in this industry to require payment in advance on the first order and deposits on some other orders. A niche would be to give everyone open account without any credit check at all. Just look the client square in the eye and say "I'll find you if you don't pay," with a crooked grin. Risky. Sure, but count it as a promotional cost. Like retailers who put their product display hooks, there will be losses, but the losses will be offset by the potential gains. Like the price approach, this should be used in a limited way to gain share, and then dropped.
2. Hours - Make yourself available any time of the day or night. Tell the client that it is ok to call at 10:00 p.m. or 3:00 a.m. if there is an issue. Give them home phone, e-mail, cell phone, etc. It is unlikely that many if any will abuse this. It just makes you different.
3. Rush - Offer same day delivery at no extra charge. Sure, you will be charged extra. Yes, it will cut your margins. It is designed to build biz, and then be taken away later...quietly. Be sure that you have a stable of dependable same day suppliers in the key product categories.
4. Resume' - Print up a resume' just like the one you might use to get a job. Include the opening paragraph: "Seeking opportunity to help build sales with an growth oriented company. Hoping to find long term position where I can grow with the company." Then list education and employment history followed by Case Histories with clients you've worked with.
Present the resume at your first meeting, and make it clear that you aren't kidding. You are truly desirous of becoming the head of their promotions department, and intend to bring the sum total of your talent, experience, and personal involvement to insure the success of their promotional efforts. Then do it. This, unlike the others is a much longer term niche. But even this doesn't last forever with $1000 per year clients. Your time must be allocated appropriately to the profit opportunity.
I could go on offering ideas for niches. Maybe you have created one that you'd be willing to share. Just hit the comment button below and help your fellow reps.
posted by Randy W. Kirk at 9:44 PM
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