Sell Them Again And Again


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Sell Them Again And Again
By: Rob Munz
Issue: 2008mar

Today, more and more creative services companies are finding that significant sales opportunities exist within everyday customer interactions because the primary sales challenge has already been addressed: The customer’s attention has already been captured. Lucrative rewards from customers, in the form of more business, lies in your ability to contribute to their success.

We all likely agree that it’s infinitely cheaper and more profitable to sell more to existing customers than to continually go out and find new customers. In fact, it’s widely understood throughout many businesses that existing customers are the perfect means by which to increase revenues by as much as 20 percent. Here’s the good news: These additional dollars are significant and often easier to capture than one might think.

One method for generating these new sales is to capitalize on selling to customers through points of contact that are necessary in the execution of everyday business. Think about every touchpoint that you engage in with your customers post sale—that’s right, after the sale. Explore ways to convert these everyday exchanges into profit centers—even those that are currently cost centers. Think about touchpoints beyond the obvious and those specifically relevant to the promotional products industry, then leverage these touchpoints to generate new sales for your business.

Untapped Selling Opportunities In Promotional Products
Within the promotional products industry, one less obvious example of a touchpoint is during the proof approval process. Your customers are already reviewing proofs on a daily basis, and at the conclusion of this process is the perfect time to present them with a reward or exclusive offer in appreciation of the approval. With their focus on what you can do for them with the current purchase, customers tend to be receptive to ideas that help them further grow their businesses. The offer presented is typically a complimentary or discounted promotional product, up-selling to a larger quantity for a special price, or adding color to their piece. Combining these offers with the project proofing process makes perfect sense.

With new internet technologies available today, a simple way to execute this up-sell or cross-sell is to use an online proofing solution that has these marketing functionalities already built in. When directed to the internet to login and approve the current product imprint, customers are guided to an area that presents them with an attractive, exclusive offer at the end of their proof review.

Let’s look at the numbers. If a promotional products supplier or distributor posts 1,500 proofs per month for select customers, and presents an offer with an additional $300 price tag, a five percent acceptance of the offer translates into more than $250,000 in additional annual revenue. Not only does the added revenue come with nominal costs but also with nominal effort because you already have the attention of a decision maker. You are simply leveraging that existing customer interaction—a touchpoint.

Relevance Matters
All consumers are inundated with marketing messages. In addition, they’re strapped for time and only want information they consider relevant. And although the where of the offer is important, the quality of the offer is also critical. Meaningful context is something you can provide—a valuable message at the right time to the right audience. This form of selling and marketing is typically called transactional promotional marketing, a.k.a. TransPromo. TransPromo is based not only on existing relationships and transactions but also on the knowledge of customers’ specific needs and objectives. TransPromo provides an opportunity to deliver messages based on customers’ needs in a way that builds trust and loyalty.

Traditional TransPromo marketing was typically a message layered onto or within an invoice or receipt statement. Humana, a health benefits company, took this a step beyond and today uses TransPromo marketing to create a personalized health finance and benefit statement for its members. By embedding TransPromo messages, Humana has reported results that include a 52-percent increase in products membership, a 50 percent increase in coupon redemption and a 17-percent increase in loyalty and retention. While it’s true that TransPromo marketing isn’t new, adding TransPromo in less obvious touchpoints, such as the proof approval process, is new and holds tremendous potential.

You know your customers, what they need and who they want to target, and you have products designed to effectively reach their audiences. While uncovering the touchpoints in which to insert your offers, think of ones that are especially relevant to each particular customer. Remember, technologies can help. By flagging your customers to receive relevant promotions by category, your messages reach decision makers that value the offering much more so than general messaging. For instance, looking back at the online proofing example, a customer who has made an initial purchase for a giveaway at a conference, when presented with an offer for other specific products that belong in a conference setting, will likely deliver much higher conversion when he or she sees such an offer after the proofing process than perhaps a less relevant offer.

A Word Of Caution
Today’s buyers are sophisticated. They recognize when they’re being sold and their antennas go up. They’re cautious and sometimes reluctant to bite on TransPromo offers. Overcome this type of reluctance with offers that are so compelling and so enticing that they are impossible to pass up. Making them exclusive to the TransPromo delivery medium helps, too.

Jennifer Shukla, marketing consultant, puts it this way, “TransPromo offers must be relevant, enticing and so exceptionally valuable that they are taken up on without hesitation. Think about what your customers want or need, think about what would really make a difference and excite them. Then, present exclusive offers that they just won’t see elsewhere. Create a scenario where your customers actually look forward to offers on the back end of their transaction.” Shukla sees tremendous value and opportunities for business growth by leveraging existing customer interactions. “Think about it this way: If you make it your sincere interest to help your customers, the relevance will be automatic and so will your rewards,” says Shukla.

Adding TransPromo In Less Obvious Touchpoints
Here are five suggestions to explore today. You’ll find that by leveraging existing touchpoints, you’ll uncover hidden opportunities to serve your customers better and to capture that additional 20 percent that will significantly impact your bottom line. Here are a few steps to help you get started:
1. Examine your processes and identify existing touchpoints with your customers—list them all.
2. Start with the one touchpoint that would have the most impact and would be the easiest to implement. Remember, technology can be your tool.
3. Generate an offer that has the most relevance to your customers and caters to their specific needs.
4. Determine how to deliver the message—the vehicle and implementation.
5. Go for it!

I’d be interested in learning what you’ve discovered in reviewing your processes and what you would be happy to share with others. E-mail me or Feedback@ppai.org your ideas for possible inclusion in a subsequent issue of PPB.
Rob Munz is president and founder of PROOF-it-ONLINE.
www.proofitonline.com

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