Here’s a question I recently received via email from a promotional products distributor.
“How do we deal with customers i.e. marketing directors, purchasing agents, owners, CEO, and human resource people that know the promotional products industry codes, like (R) and go out and shop you knowing? Most of the E-Flyers that we get from suppliers have the codes on the flyer. HELP!!!!!!”
Here’s my advice:
These days, the answers to just about everything are searchable on the Internet. There are very few secrets. Many customers may know the profit margin codes. So what? You are entitled to make a living! Instead of focusing on the profit margins your customers may know, put your focus on the added value you can provide such as: marketing help, unique ideas, quality guarantees, creative designs, industry knowledge, faster turnaround and stand out service. Shine in the areas you do best and put your emphasis there. Forget about competing on price, it’s not a viable business model for a small distributor. You can’t be Wal-Mart! There will always be someone who is willing to work for less. Is that who you want to be?
Here’s a popular acronym to keep in mind when you’re worried about losing business that applies to this situation. I added the words in parentheses.
SWSWSWSW: Some Will, (know the codes) Some Won’t, (know the codes) So What? Someone’s Waiting! (to buy from you)
Do you have a promotional products sales question that you would like to have me answer in a future blog post? Just send an email to me at [email protected].
What do you think? Does it matter that prospects or customers may know the promotional products profit margin codes? Please reply below.
Rosalie Marcus, The Promo Biz Coach is a promotional products business expert, coach and speaker.Combining her skills and years of experience in promotional sales, she helps her clients sell more at higher profit margins and dramatically increase their incomes! Get a FREE special report: 10 Big Mistakes Promotional Professionals Make and How to Avoid Them and a FREE Skyrocket Your Sales audio download at http://www.promobizcoach.com. Reach her at [email protected] or 215-572-6766.
