6 Tips to “polish” your Prospecting Process!
#1- Target Marketing: Go after YOUR target market
The most critical key concept in prospecting is about how to find the best customers for your business – focus your sales efforts on qualified prospects within YOUR target market. Example: send out a direct mail advertising campaign to the prospects you want as a client, increase responses by up to 54% with “lumpy mail“ or a promotional gift offer in the mailing. Remember to play to the people’s natural curiosity – an unusual package will increase the response rate even more.
The key is knowing what you want to achieve with your promotion. Drive more web traffic? Land more appointments? Increase the your average sales amount? Creating a plan to approach your best prospects and understanding what role the promotional product will play in helping you attract customers are the fundamentals to success. (Don’t have time for making such plans? We’re here to help, it’s what we do as part of our everyday service, no extra cost. No kidding, we provide actual, true customer service)
#2 - Create goodwill with prospective customers
People love gifts, especially free ones! Promotional products ARE gifts that you give to prospective customers. A gift grabs attention while simultaneously sending a message that you value them. Gifts create a subconscious desire for reciprocity, i.e. creates goodwill, which means they are more likely to pay attention to you & your message. Using promotional products as gifts to open doors of your target market starts the conversation off on the right foot and puts your potential customer in a much better listening mood.
Have you ever been to an event where t-shirts are being given away? People clamor for them, yelling, screaming, waving their arms - all in the hopes of getting that “awesome” free shirt and they are happy to wear it (especially when designed properly)
#3 - Stand out from your competitors
Use promotional items AND other media (print, mail, internet, social media) to get creative. An effective promotional product & media combo campaign can be remembered - by customers and prospects alike - for months or even years. Well thought out campaigns with small budgets or creative and/or gimmicky ideas can easily capture a prospect’s attention.
Often attention is all you need to convert a prospect into a customer. You can even be a bit unconventional and do something unusual. By doing this you attract prospects by arousing their curiosity. For example: using promotional products as clues for a new product or service launch creates a “mystery” effect that gets potential customers involved in the sale. By the time they have “uncovered” what the product is, they are so intrigued that they are clamoring to find out how to purchase it.
#4 - Turn your current customers into referral machines without asking!
Giving business gifts with your company imprint/info on it are great “thank you” or holiday gifts. These well received promotional items being used by your customer are implicit referrals of your company. Studies show that referrals from friends or strangers carry far more weight than just plain advertising alone.
Example: Clothing (a.k.a. wearables) are by far the most cost effective promotional items (shirts, hats, polos, bags etc). People wear them over & over, making them walking, talking billboards. To make sure that your wearable gets seen (and not just worn to mow the lawn) choose a shirt and create a design with a more retail look & feel. This means creating a wearable that your target market would most likely wear, i.e. longer fitted shirts for women or golf polos for golfers.
Why are wearables the most cost effective promotional product? Glad you asked. It is because they have the lowest Cost Per Impression (CPI). Among wearables, bags were reported to be used most frequently with respondents indicating that they used their bags an average of 9 times per month, delivering the most impressions: each bag is seen on average by about 892 people (impressions) per month.
Simple math: $15 bag used for 9 months with 8,028 impressions = $0.002 Cost Per Impression
#5 - Increase how many prospects actually remember you & your company
A survey conducted by Promotional Products Association International (PPAI) in late 2009, revealed that 94% of people remembered receiving a promotional product received in the past two years with 89% recalling the advertiser on the promotional product.
The survey went on to state that a huge 21% of consumers made a purchase (converted from prospect to customer) after receiving a giveaway! (compared to print media’s 13%, and commercial’s 7% and online ad’s less than 5%)
#6 - Maximize your ROI NOT your budget
Return On Investment (ROI) is a way to measure the effectiveness of advertising, through the analysis of the profits (=return) vs. the cost of the investment. Studying the ROI of the various forms of advertising, can help you make the best choice for your business when budgeting marketing dollars.
Advertising can be quite expensive, but the good news is that promotional products offers a better, more measurable ROI than almost all other types of marketing. One method of calculating ROI is by cost-per-impression (as mentioned in #4 above). The average CPI for promotional items is usually very, very low. The average Cost Per Impression of popular promotional items are as follows*:
- Logo’d baseball hat: $0.01
- Custom Personalized Calendar: $0.02
- Logo'd bags: $0.002
- $3 custom pens: $0.03
- Shirts: $0.005
By focusing on your target market with promotional products you are getting repeated exposure to the right people for less cost and with less of your message wasted on people that are not really potential.