5 Sure-fire Ways to Grow your Promotional Products Business
BUSINESS TIPS / DECEMBER 13, 2018
Business growth is a need that’s constant whether you’re just starting out your promotional products business or have been in the industry for a few years. With an estimated value at $23.3 bn in 2017, the promotional products industry is thriving and presents countless opportunities to businesses, big or small.
While the industry is booming and there is always a need for promotional products, there are many challenges that businesses face when it comes to growing their customer base. According to PPAI 2018 Promotional Products Fact Sheet, there are over 40,000 companies currently catering to the industry. As a result, the market is highly competitive and the margins can be really low.
So, how do you make your business stand out and grow your business? Here are a few ideas that will help you out:
1. Know Your Customers
As with any business, knowing your customers is the key to growth. While almost every business will have a need for promotional merchandise, some of the top sectors that purchase promotional products are:
- Business services
- Education
- Financial
- Manufacturing
- Healthcare
- Construction
- Insurance
- Technology
- Non-profit
- Agriculture
Knowing the industries that buy the most promotional products will help you target your marketing efforts better. You could also create a niche for yourself if you build a reputation as a promotional products distributor for certain sectors. Remember, setting up a customer base will take a great deal of work. This will involve introducing your company and the products you sell to local business owners.
2. Provide Value to Customers
Most promotional products distributors are accustomed to customers simply wanting a product to give away at a trade show or event. However, if you help them understand the value of using promotional products right and give them the best options for their requirements, they will remember you the next time they want to make a purchase.
You can do that by giving them a list of promotional products that offer the best results or are currently trending. You can also provide value by publishing blog posts, videos, and infographics on your website. This will help you establish yourself as an industry expert and bring in customers in the long run.
3. Use Social Media, The Right Way
Most promotional products companies will have a Facebook page nowadays. Unfortunately, these pages are used simply to post a link to a product on their website and that’s about it. Social media is a place to create a conversation with your audience and not just a digital billboard.
So, use your social media pages to share relevant content, liking and commenting on your customers’ posts, and engaging your audience in a meaningful way. You can also share some success stories on social media which will shine a light on your business as well as your customer’s.
4. Leverage Referrals
There’s an age-old marketing adage that 80% of your business comes from 20% of your customers. This small group of customers are your most valuable assets and can help your business grow. You can ask these customers for referrals and most of them would be happy to oblige. To sweeten the deal, you can offer them some discount on their next purchase or offer them a free value-added service.
5. Select Reliable Business Partners
As a promotional products distributor, you will need partners like suppliers and vector art services for your business. Since your customers rely on you to fulfill their marketing needs, you need to make sure that you can trust your business partners to deliver on time.
- Free <1 hour turnaround time
- 24X5 online, phone and chat support
- Special bulk order pricing
- Serving during most major holidays
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We hope that these tips will help you grow your business and rope in new customers. What tips do you use to increase your customer base? Let us know in the comments below!