Selling Merchandise In A Recession

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Some great tips on selling merchandise in a recession

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Selling Merchandise In A Recession

  1. 1. Gordon Glenister - Director General Selling merchandise and clothing in a recession
  2. 2. <ul><li>Only a third of today’s b2b salespeople have ever sold in a recession. </li></ul><ul><li>Most of them will make the same mistakes that salespeople made last time around – and they won’t even know it. </li></ul><ul><li>Massive Price reduction is often the biggest </li></ul>©Neil Rackham 2008
  3. 3. <ul><li>“ If you chase two monkeys, both will escape” </li></ul><ul><li>Even in good times, half selling to twice as many prospects is a recipe for big effort and small reward. </li></ul><ul><li>In hard times, focus on your best opportunities in depth, especially if you face strong competition. </li></ul>© Neil Rackham, 2004
  4. 4. What considerations buyers have ? <ul><li>THEIR OPTIONS </li></ul><ul><li>TV & Radio </li></ul><ul><li>Internet Advertising </li></ul><ul><li>Podcast/websites </li></ul><ul><li>Video/mobile </li></ul><ul><li>Email </li></ul><ul><li>Direct Mail </li></ul><ul><li>Exhibitions </li></ul><ul><li>Magazine/press advertising </li></ul><ul><li>Sales promotion </li></ul><ul><li>Promotional Merchandise </li></ul><ul><li>THEIR CONSIDERATIONS </li></ul><ul><li>Find new customers </li></ul><ul><li>Retain existing customers </li></ul><ul><li>Gain referrals </li></ul><ul><li>Launch new products </li></ul><ul><li>Communicate to customers </li></ul><ul><li>Create brand awareness </li></ul><ul><li>Increase spend and value </li></ul><ul><li>Work within a budget </li></ul><ul><li>In a recession ? </li></ul>
  5. 5. Selling – Key tips <ul><li>Becoming the consultant not order taker – offer advice </li></ul><ul><li>Find out what the customer’s marketing plans are </li></ul><ul><li>Focus your business on your key customers (grade them 1 -4) – Hunt less , farm more </li></ul><ul><li>Show all your credentials, testimonials, expertise always – provides re-assurance </li></ul><ul><li>Focus on multiple opportunities – eg sell the exhibition range – RANGE SELL </li></ul><ul><li>Direct mail trials on small numbers </li></ul><ul><li>Send printed gifts to your clients with powerful message “reminder” </li></ul><ul><li>Look at vertical markets – be a specialist </li></ul><ul><li>Go get the business you want not the business you are given !! </li></ul><ul><li>Additional add ons, design, packaging, fullfillment, </li></ul><ul><li>3 day service </li></ul>
  6. 6. Why use merchandise The Benefits…
  7. 7. Benefits <ul><li>Sharability - conversation </li></ul><ul><li>Personal </li></ul><ul><li>Inexpensive </li></ul><ul><li>Gifts with multiple usage </li></ul><ul><ul><ul><ul><ul><li>Calculator/ruler </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>And calendar ? </li></ul></ul></ul></ul></ul>
  8. 8. Benefits <ul><li>Engaging – touch/feel </li></ul><ul><li>Multiple Delivery options </li></ul><ul><ul><ul><ul><ul><li>Direct Mail </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>In person </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>At events </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Part of a kit/pack </li></ul></ul></ul></ul></ul><ul><li>In your face – particularly if desk item </li></ul><ul><li>Durability eg Digital photo frame </li></ul>(Stress ball)
  9. 9. Benefits <ul><li>Relevance to campaign </li></ul><ul><li>Thank you </li></ul><ul><li>Personal impacts – keep for 5 years use keys 4 times a day </li></ul><ul><li>Impact - 7300 </li></ul><ul><li>Incentives & Rewards free gift </li></ul>
  10. 10. What markets should you focus on <ul><li>Schools & workwear </li></ul><ul><li>Agencies –sales promo </li></ul><ul><li>Public Sector </li></ul><ul><li>Food and Drink </li></ul><ul><li>Automotive </li></ul><ul><li>Phamaceutical </li></ul><ul><li>Technology and IT </li></ul><ul><li>Film </li></ul><ul><li>UK Tourism </li></ul><ul><li>Cosmetics </li></ul><ul><li>Transport and logistics </li></ul><ul><li>Education </li></ul><ul><li>NHS – Healthecare trusts </li></ul><ul><li>Essential services </li></ul><ul><li>Utility companies </li></ul><ul><li>Petcare </li></ul><ul><li>Financial transactions </li></ul><ul><li>Security </li></ul>
  11. 11. <ul><li>Advertising & Marketing </li></ul><ul><li>Sales promotion – Self Liquidating </li></ul><ul><li>Awards & Rewards (long service schemes) </li></ul><ul><li>Brand awareness & rebranding </li></ul><ul><li>Cause awareness </li></ul><ul><li>Club & School identification </li></ul><ul><li>Conferences and events </li></ul><ul><li>Direct Mail </li></ul><ul><li>Fund raising </li></ul><ul><li>Health & safety recycling schemes </li></ul><ul><li>Incentives – resellers/dealers </li></ul><ul><li>Product launches and roll outs </li></ul><ul><li>New branches and souvenirs </li></ul><ul><li>Work wear and uniforms </li></ul><ul><li>Retail and souvenirs </li></ul><ul><li>Thank yous and Apology schemes </li></ul>Common uses in merchandise
  12. 12. The Power of the message <ul><li>Add message with logo </li></ul><ul><li>Link product with message or campaign – will have greater impact </li></ul><ul><li>Bespoke products </li></ul><ul><li>Work with marketing objectives </li></ul><ul><li>“ Adapting to your needs” </li></ul><ul><li>(use travel adapter) </li></ul><ul><li>“ Competitively priced” </li></ul><ul><li>(use stress £ sign or calculator) </li></ul><ul><li>“ We deliver more” </li></ul><ul><li>(use a large or latte mug) </li></ul><ul><li>We go the extra distance </li></ul><ul><li>(use a ruler) </li></ul>
  13. 13. Mailings with premiums - ROI Actual Case study of mailing house +£76,500 Without Premium With premium Size of Mailing 500,000 500,000 Response 5.5% 10.20% Total orders 42,500 51,000 Mailing costs £350 £350 Cost per item £7.95 £6.95 Cost of premium £1.00 Mailing costs £175,000 £175,000 Manufacture £337,875 £354,450 Total with premium £512,875 £580,450 Revenue £720,375 £864,450 GROSS PROFIT £207,500 £284,000 % Lift +28.80% +32.85%
  14. 14. Your Promotional Calendar Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Exhibitions New Prods Conference Sales Prom Awareness
  15. 15. Snapshot on Research
  16. 16. Bpma research – Whats on your Desk surveyed 400 respondents to understand what promotional items were used. Source E 2007 Why buy Promotional Merchandise…
  17. 17. <ul><li>Pens </li></ul><ul><li>Calendars </li></ul><ul><li>Mousemat </li></ul><ul><li>Post-it notes </li></ul><ul><li>Mug </li></ul><ul><li>Pencils </li></ul><ul><li>Desk pad </li></ul><ul><li>Calculator </li></ul><ul><li>Diary </li></ul><ul><li>Notebook </li></ul>Top 10 items people keep on their desk
  18. 18. <ul><li>Usefulness (89%) </li></ul><ul><li>Memories </li></ul><ul><li>Value of item </li></ul>Top 3 reasons why people keep promotional items
  19. 19. <ul><li>92% believe branded promotional merchandise increases company brand awareness </li></ul><ul><li>76% say they can name a brand or company/organisation featured on a promotional merchandise on their desk without having to look for confirmation. </li></ul><ul><li>Over half (52%) purchased from companies branded on a Promotional merchandise on their desk. </li></ul><ul><li>82% would keep an item they were given than give it away. </li></ul>(National survey carried by Source-e, April 2007) Because Promotional merchandise really works!
  20. 20. Additional Research from the United States
  21. 21. Survey Methodology <ul><li>A team of interviewers surveyed businesspeople in four metro areas: New York, Chicago, Los Angeles & Philadelphia </li></ul><ul><li>An online survey to additional end-users augmented the in-person survey </li></ul><ul><li>618 completed surveys in all </li></ul>
  22. 22. Solution 2—42% of end-users have a MORE favorable impression of an advertiser after receiving the item
  23. 23. Solution 5—Writing Instruments Are The Most-Recalled Promotional Item
  24. 24. Solution 6—The Typical Promotional Product is Kept for 7 Months
  25. 25. Solution 10—Promotional Products Deliver Significant Numbers of Impressions
  26. 26. Solution 12—Advertising Specialties Deliver a Better CPI Than Virtually Any Other Media
  27. 27. <ul><li>Don’t chase business you can’t win. Focus ruthlessly on your best and biggest opportunities. </li></ul><ul><li>Make your potential buyer feel safe about doing business with you. So build relationships, ask buyers about their concerns and really listen to their issues. </li></ul><ul><li>Negotiate little and negotiate late. Premature negotiation loses sales. </li></ul><ul><li>Don’t defend your existing business. Treat existing customers as new business opportunities and sell assertively; attack is the best defence. </li></ul>©Neil Rackham 2008
  28. 28. The bpma <ul><li>650 member companies </li></ul><ul><li>Accredited professional image </li></ul><ul><li>Magazine, directory, bpma TV </li></ul><ul><li>Advice support, training, Academy </li></ul><ul><li>Networking </li></ul><ul><li>Recruitment board </li></ul><ul><li>Interested how we can help you – talk to us on the bpma stand ….. </li></ul>
  29. 29. Thank you for listening Presentation available Please provide business card

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