Have you ever thought about the link between learning and revenue for your business?
In my experience, the two are tied together more tightly than ever. Your customers want to do business with experts, not order takers. And order taking has never been easier to replace. Portals, procurement software, and automated reordering have turned simple transactions into tasks a customer can handle without you.
But there are things a customer can’t get from a portal. Things like creative thinking and real product knowledge. That is where the revenue is, and it comes from a commitment to learning. Put simply, experts get the call. Order takers get whatever is left over.
Here are five ways to drive revenue through lifelong learning:
Create a learning attitude. Everything starts with wanting to learn. When you are genuinely curious about the industry and your customers’ businesses, you start to see how new capabilities connect to their needs. Fresh ideas come from that curiosity, and they are what set you apart from the order takers. Stay curious.
Go to trade shows with a purpose. A lot of people say trade shows have lost their luster. Usually that is because they wander the floor with no plan. Before attending shows, ask yourself who you want to meet, what you want to learn, and which suppliers can teach you something new. When you go with a focus, a show becomes a classroom.
Invite suppliers to present. Ask your suppliers into your sales meetings and give them an assignment: Bring three ideas, unique applications, or case studies. A good trade partner will show you products and applications you are not yet selling. For example, here at Wise, we have a whole plant in Anderson, SC, devoted to labels, yet after our presentations, customers often say, “Wow, I had no idea you did that.” So invite your suppliers in. You may walk out with a new line of revenue.
Read the industry press. You already read Print & Promo Marketing. What about titles beyond promotional products, such as WhatTheyThink and PRINTING United Journal? They are full of ideas (both in the articles and the ads) that might be new to your business. I do this myself—I read trade publications with my customers in mind and mark what applies. For distributors, this is one of the easiest ways to find products today that you can sell tomorrow.
Apply, then re-apply, what customers teach you. What did you learn from one account that applies to another? When one customer solves a problem with a label or a form, odds are that a dozen others have the same problem and don’t know there is a solution. The distributor who connects those dots earns the business.
Here is the bottom line. Learning is really about serving your customers better. The market keeps changing, our capabilities keep expanding, and the distributors who keep learning are the ones who keep growing.
What kinds of learning have worked in your business?
Bill Prettyman is CEO of Wise in Alpharetta, GA. Wise manufacturers industrial/prime labels and tags, traditional forms, and digitally printed products and services for resale only. For more information, visit www.wbf.com or email Bill at [email protected].
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