5 Easy Ways to Expand Your Promotional Products Business

Andrew Talbotwww.industrysoftware.co.uk

Business Expansion Strategies

Markets

Products

New

Existing

New Existing

Cost Database Marketing - High

CRM - Information

Driven

Database Marketing - High

Risk

CRM - Customer Driven

Select the Easiest Option for your Business

In Order of Easiness

• Existing Products to Existing Customers• New Products to Existing Customers• Existing Products to New Markets• New Products to New Markets

Existing Products to Existing Customers

• Mail Order / Corporate Scheme

• Low cost delivery via the internet

• Suitable for all types of businesses

• Go looking for this type of business

Existing Products to Existing Customers

• Database Marketing – how much do you know about your customers

• Segmentation• Analyse your current top

customers• Data Mining

Existing Products to Existing Customers

• Send this to all customer who have not ordered for XX days• Send this to all customers we have not spoken to for XX

days• Send this to every customer that has ever purchased a

metal pen• Send this to every customer that has spent more than £1000

on pens but less than £500 on clothing• Send this to every customer in the education sector that has

a marketing budget of more than £50K

Existing Products to Existing Customers

• Do you know what existing products you could sell

• Use new creative sourcing tools – www.e-merch.com

• Talk to your suppliers what is selling

• Be pro-active send ideas to your clients

New Products to Existing Customers

• Print Management is used by all your customers

• Your existing contacts may well be the decision makers

• We can train and educate you re the suppliers & products

• Existing skills are transferable

New Products to Existing Customers

• You already understand Artwork & Design

• Use in-house or outsource• You can upsell to existing

clients – how about an artwork CD

• You can design logos, signs ,websites or exhibition stands

New Products to Existing Customers

• Everybody uses Office Products

• Competitive Market but technology solutions available

• Choices of Wholesalers, Kingsfield Heath, Spicers, Integra etc

Existing Products to New Markets

• Identify Niche Markets by reviewing your existing sales

• Consider a product and what market it could be used for

• For example the medical industry have large budgets & buy specific promotional products

Existing Products to New Markets

• What do you do well?• Opportunity to launch a

mail order range• Workwear & Uniforms• Tech Products available at

low margins• Companies with many

employees

New Products to New Markets

• Highest Risk Strategy• Should only be an option if you have a great idea or

skills you want to make the most of• Could be Anything• Maybe worth setting up as a separate brand

organisation so not to loose focus

In Summary – Your Main Opportunities are

• Print Management• Mail Order / Corporate Scheme• Artwork & Design• Office Products• Niche Markets

What relevant skills do you have?

• Customer Relationships• Artwork skill & knowledge• Admin Infrastructure• These are all transferable• Product / Sourcing

knowledge

Is this for me?

• What is your ambition for your business• Will your staff adapt• Do you see the growth you want / need in your

current business strategy• Are you prepared to invest in technology / staff

training

Real Life Examples

• £1 million turnover distributor attracts a £1 million turnover programme

• Distributor adds £1 million Print Management Turnover in 1 year

• Distributor doubles turnover without increasing number of staff

What tools do I need?

• Depends on what strategy you want to follow

How does technology help?

• Start with a low overhead business model by using technology to reduce staff costs

• Technology can also to be used to improve marketing results

• Help build the appropriate image• Can help improve product knowledge

Want to learn more

• Job Skills Training Courses available

• Talk to the experts• Visit our stand at this show• Research - ask your

customers opinions • industrysoftware.co.uk