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Identifying Cross Selling Opportunities
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Identifying Cross Selling Opportunities

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Have you ever entered a home repair store to buy a simple faucet, but end up leaving with fixtures and lighting that you never intended to buy? Sometimes when you experience pushy sales strategies, …

Have you ever entered a home repair store to buy a simple faucet, but end up leaving with fixtures and lighting that you never intended to buy? Sometimes when you experience pushy sales strategies, you end up with that horrible taste of buyers remorse. But other times, when your sales person exhibits vast product knowledge and conveys a wealth of ideas, that’s just good customer service.

Cross selling, if done tactfully and tastefully, can be an excellent arrow in a sales person’s quiver. This is especially true in the print industry, where print volumes are decreasing and some traditional print budgets are moving to newer, electronic media. Having the ability to sell more than just what was asked for can lead to higher company profits, increased personal commission, and, most importantly, long term stability and improved customer retention.

Brought to you by Mohawk MakeReady, this presentation can be used by your printing business for internal training initiatives.

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  • Have you ever entered a home repair store to buy a simple faucet, but end up leaving with fixtures and lighting that you never intended to buy? Sometimes when you experience pushy sales strategies, you end up with that horrible taste of buyers remorse. But other times, when your sales person exhibits vast product knowledge and conveys a wealth of ideas, that’s just good customer service. Cross selling, if done tactfully and tastefully, can be an excellent arrow in a sales person’s quiver. This is especially true in the print industry, where print volumes are decreasing and some traditional print budgets are moving to newer, electronic media. Having the ability to sell more than just what was asked for can lead to higher company profits, increased personal commission, and, most importantly, long term stability and improved customer retention. Brought to you by Mohawk MakeReady, this presentation can be used by your printing business for internal training initiatives.
  • In this presentation, we’ll talk about how to discover opportunities and why cross selling can help you increase sales.
  • It’s important to recognize the signs of a good cross selling opportunity. First—look for the “add-on sale.” These are opportunities for you to recommend additions to your customer’s program they may not have even thought about—or, thought of you for. These add-on’s can be promotional materials for a new products or service, charts/lists, any application that can use a label (shipping, identification, address)—these are all perfect times to offer another product. If a client sees you as more than their “business card printer,” the more likely you will be asked to consult on other types of printed product or ancillary services. And after you’ve established a good relationship, you may just automatically get awarded work without having to submit a competitive bid.
  • By adding only one additional piece to a sale, you can increase your value, your company’s value and the money in your pocket. To be most effective, you need to provide new product/service ideas to the designer/buyer early in the creative process. Spark ideas by showing them a substrate and specific application—-nine times out of ten, they’ll buy it. You already have the digital press. Now use it to print examples and promote your application variety. Make a floor label, a window poster or counter card. The ability to show tangible examples on the substrate and your press is powerful to a designer. When you start early and provide specific visual solutions, you’ll see higher company profits. Additional sales commissions. Increased customer retention. And long-term stability for your company. MakeReady Tip: Keep your portfolio stocked full of various substrates and samples.
  • Discovery is key. Active listening combined with the right questions can spark opportunities. Let’s take a look at a few examples. Every year you print an updated product catalog for a local pharmaceutical. But the company has shifted from mass producing the catalogs to printing only what it needs, with different catalogs for different regions around the world. Right now you manage their fulfillment, but you know there could be more. Here are some questions to ask to potentially win more business: Who’s handling the VDP programming for the different regions? How are you marketing your new catalogs? Are you doing targeted direct mail or email? Are you doing any kitting of materials for promotion either internally or externally? How are you reaching hospitals and doctors to promote the new products? How are you training your internal sales folks on the new products? The idea is twofold: to spark ideas and to open the door to additional printed products or ancillary services. But be honest. One of the major turnoffs is to present yourself as something you’re not. Don’t say you can do something you can’t just to win the business. If a salesperson isn’t comfortable with the sale or lacks details of how it will actually be accomplished, it’s a tell-tale sign he or she is trying to oversell you. Now take your own clients. Think about what kind of work you are doing for them, what additional needs you can identify, and what problems you can solve.
  • Helping to expand a customer’s campaign into multiple channels is another cross-selling technique. Numerous studies show that having a good marketing mix increases response rates overall. It also helps mitigate risk if one channel fails to be receptive to your message or call to action. For an example of multiple products produced to support a singular product or initiative, let’s take a look at when Mohawk launched its most comprehensive line of sustainable papers, Mohawk Loop. To help support the launch, both direct mail and email blasts were created, plus an online microsite was built. And the print opportunity? An absolutely stunning printed promotion was created to showcase the new line: Mohawk Loop: A Living Almanac. http://www.feltandwire.com/2010/05/06/loop-living-almanac-unearthing-fresh-talent/ Adding ancillary non-printed products to a traditional print campaign can extend your client’s campaign objectives for relatively small additional budget. If your company has the ability, e-mail, online websites, or online advertisements with design present an opportunity to cross sell.
  • Now the term “campaign” to a print service provider has taken on many different meanings. Once understood, however, it provides a lot of revenue opportunities for your business. Let’s make sure we’re speaking the same language. From overall project management, to database management and mailing, there are multiple revenue opportunities for your company. When all these pieces are packaged together in one bid or estimate, it often becomes less likely that the potential client will try to knock down the price on each separate part of the project. Let’s look at an example. A local retail store is launching a new product portfolio. They plan on producing direct mail, e-mail, advertisements, print collateral, training videos. Don’t have all these capabilities? Don’t sweat it. Printing has historically been an industry where companies collaborate on sourcing capabilities or products. So, partner up with some local companies in your area. It will expose both your customer bases to each other's capabilities and reduce the overhead and risk of trying to bring these services under your own roof initially. Mohawk MakeReady Tip: Do a test drive. Develop a self promotional campaign that will enable you to work out any kinks and establish a case study to sell with.
  • One word: Flexibility. Having the ability to adapt to market shifts for the betterment of your business. The print world is constantly changing, especially with the growth of digital print. You’re not abandoning print—your core business. You’re evolving it. You’re identifying new higher-margin products to offer. You’re bringing new capabilities in house, such as IT experience, database management, and web design. You don’t need to change overnight. You just need to be the catalyst to begin that change. Start small if you’re resource strapped. Small changes over time can lead up to large-scale differences. And you don’t need to do it alone.
  • Digital printing is changing…and fast. That’s why we created Mohawk MakeReady. A go-to place for guidance, insights and tools to keep you prepared for what’s next. There’s a reason we named this service MakeReady … a little irony, too. Taking a familiar industry term in a new direction, Mohawk MakeReady offers ways for you to make more efficient use of your time, material, people and entrepreneurial energy. To grow your digital printing business, you need to be prepared — with actionable information and tools — so your team can implement best business practices, craft effective sales strategies, and create opportunities to use and promote new high-value products. That’s what you’ll find here: an ever-expanding site , rich with content built on the experiences of digital printers like you. As a leading manufacturer of digital substrates, Mohawk brings you practical wisdom gained from our experience in sales, marketing, production, and operations. With how-to articles on marketing your business, videos on topics like precision sheeting, and PowerPoint presentations showcasing how to identify sales opportunities. All strategies you can put to work today. Talk to us. Let us know what’s on your mind. Mohawk MakeReady. Dedicated to making you ready for the exciting future ahead.
  • Transcript

    • 1. Achieving the add-on sale September 2011
    • 2. Discussion Topics
      • The Art of Cross Selling
      • Discovery Is Key
      • Campaigns and Ancillary Products & Services
      • Why It Matters
    • 3. The Add-on sale Turn a $2,500 project into a $3,000 sale Your customer calls to say you have been awarded a brochure job for a new product they are offering. Think opportunity. Counter cards, window signage, possible product labels, floor signage… the list is endless. Increasing the sale with high value, high margin products, will increase your bottom line and the value your customer sees in you.
    • 4. The Add-on sale How to add increase every invoice by 20%
      • Provide new product/service ideas early in the process
      • Print examples
      • Promote your application variety
    • 5. Do ask. Do tell. Look behind the curtain for more work
    • 6. E-mail Blast: Promotion e-mail blast with discount Launch Microsite: Online presence to support launch
    • 7. Breaking Down a Campaign: Where’s the Revenue? As a print service provider, there are plenty of potential revenue streams if you have the right capabilities or partners.
      • Project management
      • Print production
      • Database management
      • Variable programming
      • Website development
      • Video production
      • Design & Copywriting
      • Mailing and more…
    • 8. Why does what you’re telling me really matter to my business? What does it mean for me on a daily basis? So you may be wondering…
    • 9. Flexibility: Having the ability to adapt to market shifts.
    • 10. Mohawk MakeReady provides practical tools and actionable information for digital printers like you. We can help… Visit: www.MohawkMakeReady.com to browse content, request a meeting, or join the community.

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