Hold On To What You’ve Got

In today’s economy, one of the best ways we can recession proof our business is to retain our current clients. As our economy continues to fluctuate, controlling expenses and optimizing service levels from partners and vendors is going to become the focus for all of our customers. We all must be sensitive to these “changing winds” and enhance the experience of our customers each time we interact with them.

We must go back to the basics of serving our customers and take the actions that make a difference.

Here are three simple tactics that have been proven over and over again.

Keep in Touch – Our customers need to know we still care. Every relationship requires a sense of security and reassurance that everything is still okay, even your customers and even more so in a recession. Reach out to them often and remind them why you value them as individuals. Let them hear from you often. An Ezine is a great way to stay in touch and keep in front of your business so make sure you are publishing an online newsletter filled with tips and educational articles. Business is based upon relationships so cultivate them every day. A simple phone call, a hand-written note or a special gift will go a long way. Do not let too much time go by without calling your customer and saying “thank you, we appreciate you and we appreciate your business.” Also, don’t forget to ask them, “what can we do to enrich your experience?”

Wow Them, Every Time – Customers bought your product or service based on a promise that you or your company has made. Make sure that you always deliver on your promise and therefore maintaining trustworthiness with your customers. Customers want to purchase from companies and people they trust to deliver the product and/or service they need and with the value they expect. According to the book, Trust-Based Selling, trustworthiness consists of four factors: Credibility, Reliability, Intimacy, and Self-Orientation. The combination of these factors used in the right combinations will develop a connection with your customers that will lead to a long time relationship. Each time they interact with your company, be sure they walk away saying “wow.” Give them that little something extra that reminds them why they selected you in the first place.

Create Additional Value – Over promise and over deliver! Figure out ways to create additional value in your offering so your customers are consistently bragging about the value they receive from you and your company. An easy way to find these little gems is to learn about your customer’s business, what are the steps they take, what are their objectives and challenges. Is there a way you can provide assistance? For example, is there an administrative task that you can take over on your customer’s behalf that would add tons of additional value for them but not increase your costs too much? Is there something extra you could add in that would set you apart from your competition? These are examples of the little gems you could use to create additional value for your customers.

To recession proof your business, you want to make sure you retain all of your customers, so make it easy for your customer to do business with you. Go through the same process and channels that your customers do so you can experience the same exact experience your customers will have. Make adjustments if necessary and teach your staff how you expect your customers to be treated each time they engage your company. By taking the time to apply some or all of these tactics, you will create a culture centered on top-notch customer service. By educating your team on expectations and providing them the roadmap to deliver the services you expect, you will not only make your customers more loyal, but you will make your business more profitable. Simply stated, happy customers buy more and tell more friends about their experience. Use that as an opportunity to build upon your already stellar brand!

©Kellie D’Andrea & Associates

Kellie D’Andrea is the creator of the BLAST 9O Day Coaching Program and teaches biz owners how to build the business of their dreams for a life of freedom, profits and fulfillment. Interesting in growing your business, sign up for her FREE mini course “The Empowered Entrepreneur” and learn how to take the journey to freedom, profits and fulfillment at www.kelliedandrea.com

Build Brand Value with Promotional Products

Among business functions, Marketing is changing the most; not the goal, but certainly the methods used to build recognition, brand value and, yes, sales. What was regarded as effective five years ago is ineffective today as audiences age and technology offers more interactive options. The rapid change leaves most of us who are “old schooled” in marketing and media buying wondering what to buy in order to develop a high level of recognition. Where do we focus our time in order to build brand value? If engagement is better than traditional mediums that hold audiences at arm’s length, how do we do that well with our limited time and recently reduced budgets? And, while social media does a great job at improving customer relations and humanizing companies, it has yet to show real strength at increasing sales…so, do I go social? Building Recognition In walks “promotional products”. In terms of advertising mediums, promotional products has long been thought of as secondary to television, radio, and print advertising, and the add-on to a campaign or media buy. For media buyers who narrowed their focus to “cost per impression” and failed to understand promotional products longevity, or preferred mass mediums, it was considered too expensive. Now, when newspaper readers are declining and magazine ads are proving very expensive for the exposure; with TiVo making it possible to eliminate high-priced commercials, and radio giving way to iPods, media buyers and marketing professionals are taking a new look at promotional products. According to a 2008 study by the Advertising Specialty Institute, the cost per impression on promotional products averages $0.004 because of their inherent shelf life. This means that they are highly effective in delivering a branded message over and over and over. Building Brand Value Brand value is based in how customers respond when they see your brand. It is develop through the culmination of customer experiences. Media is one of several means for experiencing a company brand. Using a product is another one, as is shopping a company’s store location and talking with their sales or service representative. Is it any wonder that marketing places such a high value on control of these interactions? The challenge is no longer in whether or not we’re saying something of value through our media (most marketing professionals are well versed at building branding statements), but in ensuring that our message is seen/heard enough to develop an acceptable level of recognition. The 2008 ASI study of business people found that 81% of promotional products are kept because they are considered useful; of these, 56% were kept at home and 28% were kept at the office. The study also found that the average number of impressions for these items is roughly 363 per month. This repeated exposure of the brand on items that are deemed valuable enough to keep is highly effective in adding to brand value. Engagement The concept of engagement in marketing is fairly new and is defined as consumer interaction with a company or brand. While many companies wrestle with how to do this through social media, there are challenges with the new media that are inescapable. First, social media is based in scrolling feeds. That means that information is quickly out of sight. Second, marketing professionals are quickly finding out that the nature of people on social media site is to “talk” rather than “listen” (probably because of our human nature to be self-absorbed). So, for companies that wish to listen to consumers talk, it’s great. For presenting a message, it’s risky. Promotional products are the original engagement tool. By interacting (using) products, consumers develop a higher level of affinity for the company brand. In the 2008 ASI study, 42% of respondents had a more favorable impression of an advertiser after receiving the item, and 24% said they were more likely to do business with the advertiser. Sales One of my favorite studies is the 1990 study by the Advertising Research Foundation that found that the strongest factor linking advertising to sales is “likeability” – if respondents liked an ad, they were more likely to buy the product. Since those findings, the ARF has continued to validate the study. The link between these findings and those of the 2008 ASI study are clear – when advertisers place their artwork on a promotional product that is well liked, people are more likely to remember them, have an higher level of affinity for the company, and purchase from them. The bottom line? In a time when most mass mediums are struggling to get and hold the attention of consumers, promotional products continue to perform well and are a good value for advertisers. This is a guest post authored by Karen Sherrill, Director of Marketing at Gold Bond, Inc., an ASI Top Forty Supplier in the advertising specialty industry. Follow Gold Bond on Twitter (http://twitter.com/gold_bond) and visit their Facebook page (http://www.facebook.com/pages/Hixson-TN/Gold-Bond/193547465289) for additional information about the company

The Power of Brands

When it comes to selecting a promotional product for a marketing campaign, corporate gift, or employee recognition, providing a brand-name product adds value and enhances the promotion on a number of different levels. 

First, there is the success by association.  For most companies, image is critical and many companies want to align with brands that mirror or enhance their own brand.

 Second, a branded item enhances the value and credibility of a gift.  A branded gift is viewed much more highly than a non-branded gift and ultimately enhances the recipient’s feelings for the company and, in turn, further enhances the image of the company.

 When it comes to a gift for an employee or a customer, a branded gift makes the recipient feel more appreciated.  Branded gifts are a positive indicator of how the company thinks of the recipient. 

 For employees, a branded gift allows them to feel as though they have achieved some form of aspiration.  For example, if an employee cannot afford a Waterford® pen or Smalto watch, they may still aspire to the lifestyle or image associated with the gift.   When they receive this item as a gift, it allows them to experience part of the lifestyle, and the rise in self-esteem and productivity should be a factor when determining your Return on Investment .  

 As a marketer, there is also the element of exclusivity associated with a branded item, in that a branded item is not a commodity promotional product such as a key ring or plastic ruler that can be found everywhere. It adds an exclusivity factor and an element of uniqueness to a promotion.  It also speaks volumes about how you value yourself or your company to be willing to give such a gift.

 Therefore, to add power to your promotion, consider a branded promotional product instead of a non-branded one.  In some cases a branded item may cost a bit more than a non-branded item, but the return on the investment will pay off.

Why A Wow?

The goal of any marketing campaign is to generate awareness and obtain an acceptable return on the investment (ROI). When it comes to promotional products, studies have shown promotional products have a lower cost per impression than other forms of advertising mediums.  The “typical” pen, key ring or calendar (the type of products that typically come to mind when one thinks of promotional product), are promotional product staples, and can certainly generate awareness.  After all, these commodity promotional items are used daily with repeated logo exposure, and in the case of pens, have the “pass around”, “left behind” factor (similar to pass around readership of magazines). Both increase logo exposure, but, what image does one get from the company whose logo is on these types of products?  Certainly not a negative one, but is it the most appropriate or the “best” image a company can or should project?  With marketing dollars being extremely tight, marketers now, more than ever, not only need to differentiate themselves from their competition and stand out to their audience, but they must obtain as much bang for the buck from their promotional spend as possible.  In order to do so, promotional dollars should be spent on “WOW!” promotional products that area bit out of the ordinary, products that will stand out, be remembered, and have “stickability,” a term we use to describe a product that will not get tossed in a drawer, or an even worse fate, in the trash, and have the impact to enable the marketer to accomplish their marketing goals. For example, if it has been determined that a calendar is the best product for a marketing campaign; why not go with a calendar that really makes a statement, such as the MoMA Magnetic Perpetual Calendar or the MoMA Acrylic Perpetual Calendar?  Not only are these perpetual, and therefore gifts that keep on giving, but they are also branded, which provides value on a number of different levels. Even if the marketing objective dictates a pen or key ring as the most appropriate promotional product, it can still be a “WOW!”, and elicit a conversation. Take a look at the Helixpen and key ring, both from European designer Nino Cerutti.  If these don’t say “WOW!” nothing will.   Even if budget is an issue, inexpensive does not have to mean without impact.  The Yoropen “Standard” is an ergonomically designed pen that really puts a “slant” or a “different angle” on a promotion.  WOW! promotional products increase the value, image and ultimately the awareness the market has toward a company . . the ultimate goal for a marketer.

Just like Riding a Bike

Promotional products provide the lowest Cost per Impression (CPI) of all the major media channels and, as such, should provide the greatest Return on Investment (ROI).  While it’s nice to have this validated by endless surveys on the subject, I don’t need to quote any here because you have always known it.  As a supplier, you know it and have been telling your distributor clients.  As a distributor, you know it and have been telling your end-user clients.  During these challenging economic times, this fact may or may not make the sale, providing your customer has an advertising budget.  If they do not, you may as well be riding a bicycle in a bathtub.  For the purposes of this blog, I’m going to hop off my bike and assume my client has a budget.

 As a salesperson, I need to learn as much about how they operate within their advertising budget and the most important thing to learn is….Do they categorize the different forms of media advertising?  If they lump all forms of media advertising together as if they were making chowder, you can hop right back on the bike.  Without reasonably accurate result tracking, one cubicle may believe the 30 second spot during the “Columbo” rerun at 3:00am is a home run, and another cubicle will swear the ¼ page in Tattoo Monthly is a winner.  You will be pedaling faster than ever as you try to tell them your 1,000 pens will be going to 1,000 places and be seen by almost countless numbers of people before the ink runs out.  Too many people simply can’t do the math.

Even before the economy turned to crap, smart companies categorized their media avenues and allocated budget dollars based on results.  It is even more critical now as companies trim fat, waste, departments, benefits, people.  If you are dealing with a client that eyeballs every dollar going out but not the dollars coming in, guess what…keep pedaling.    

Your task, should you choose to accept it, is to convince, finesse, implore, educate your clients to the fact that dollars coming in will always tell you where dollars going out should go.

Reflections on Merchandise DNA

 As we have just celebrated our 28th anniversary in the Promotional Products Industry, it has become a moment for reflection, as well as for looking forward.

 International Merchandise Concepts was founded by an ex-Retail executive, who looked around at the products in the industry and thought “We can do better than this…!” After all, promotional merchandise should be as engaging, attractive, and valuable as Retail merchandise, and in fact, its origins lie in Retail merchandise.  Hence, the DNA of IMC was born.

 Our mission, from that day until today, has been to bring ideas and items to this industry that say “hey, look at me”, rather than “same old, same old”. Our IMC Collection has always been designed and manufactured to look like better Retail gifts, and we are proud to have innovated materials and finishes and collections that were “firsts” in our industry. Our themed and women’s gift collections have become evergreen businesses, and both were inspired by the trends in the Retail marketplace.

 Looking forward to what the End-user marketplace is looking for, IMC has embraced the concept of the “Power of Brands”…Retail brands. As promotional dollars become increasingly scarce and valuable, the End-user is becoming much more discerning about what to spend those dollars on, and they don’t want “same old, same old” anymore. They need to step out, and stand out, in their efforts to capture the attention and imagination of their consumer base, and Retail gifts that are a “WOW” are a very compelling way to do that. For the Distributor, it means putting an exclusive and often unique item on the table that has a real value in stores across the country, not just perceived value.  A branded gift says so much more to the recipient, and about the giver.

And, so, like so many adventures in life, we have come full circle. From the Retail DNA that launched the IMC Collection, we began our first real branded venture with a license from Waterford® Writing Instruments in 2000, and now we have added 17 new and exclusive Retail brands in the last 18 months. We’ve grown from 200 SKU’s to 1700!  So far, so good…and, you can expect to see more, and more. We like to hear you say “WOW”!

 Stay tuned…

International Merchandise Concepts

The promotional products industry continues to be an ever-changing, free-floating entity and IMC has changed and grown to meet the challenges of the industry.  We continue to manufacture innovative, original, well-designed promotional products but we have also embraced the Power of Brands.  IMC has always produced high quality gifts with a high perceived value and we continue to partner with world-renown brands to bring you exclusive and impressive gifts for your clients and customers.  If you are looking for a plastic key ring or foam finger, we are happy to refer you to a supplier, but you will not find them here.

With tight promotional dollars, we believe in the Power of Brands and we have the retail brands for your marketing needs.  Looking for something that really answers the question, “What is new and different?” We have retail partner brands to fill that bill.  IMC currently has 23 lines, 19 of which are retail branded lines.  Most are internationally known and all are of impeccable quality.  Whether you are looking for a gift, promotion or product launch, you have the opportunity to purchase pens from Waterford Writing Instruments, exclusive merchandise from the Museum of Modern Art, watches from Francesco Smalto and wallets from Cerruti 1881 to name but a few.

We invite you to visit www.imc-miracles.com and we welcome your calls and comments.