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Growing Your Business With Account Penetration

market penetration

It costs between 4 and 10 times more to acquire a new customer than it does to keep your current clients. Yet most distributors spend the majority of their time prospecting. At the 2015 Business Development Conference, BIC Graphic’s Eileen Lynch shared strategies to grow your business while providing more service to the accounts you already have. Here are some simple questions you can ask to more effectively penetrate your current accounts and grow your sales exponentially.

Corporate

• Is your company celebrating a significant milestone?
• Do you have a new building that needs signage?
• Have you achieved an industry award you want to commemorate or celebrate?
• Do you have a new acquisition and wish to onboard new employees?
• Is there a merger you wish to celebrate?
• Do you have new executives that you would like to recognize?
• Do you give holiday gifts to employees and clients?

Human Resources

• Do you have a package you would like to present to new employees?
• Do you give service awards?
• Do you recognize employees for attendance milestones?
• How do you recognize retirees?
• Do you need training aids and recognition?
• What programs do you have to recognize and reward volunteers?
• Do you need to promote benefits enrollment?
• Do you recognize employees’ birthdays?
• How do you celebrate employee promotions?

Operations

• Do you celebrate site productivity?
• How do you recognize cost improvements?
• Do you reward quality level attainment?
• Is production efficiency rewarded?
• What incentives do you have for process improvement?

Marketing

• Do you need gifts for customer visits?
• Are you planning contests that need to be promoted and rewarded?
• Do you have employees that are retiring?
• Do you want to promote an upcoming meeting?
• Do you have a new product launch?
• Are you celebrating the completion of a project?

Sales

• Do you need to promote and incentivize a sales contest?
• Do you reward annual performance?
• Any sales meetings to be promoted?
• Do you have a sales level club or program?
• Do you need trade show booth materials and giveaways?

Finance/Purchasing

• Do you reward budget performance?
• Is collection performance recognized?
• How do you incentivise cash management?
• Do you reward inventory control goals?
• Do you need to promote vendor programs
• Are cost savings initiatives promoted and rewarded?
• Are you promoting inventory management?

Special Occasions

• Do you want to promote an annual banquet and provide commemorative items?
• Do you want to promote or sponsor a charity event?
• How are you promoting the company picnic?
• Is there an upcoming holiday you wish to celebrate?

Safety Manager

• Do you have a safety program to promote?
• Do you celebrate Accident Free Days?
• Is Zero Down Time rewarded or recognized?
• Do you incentivize safety suggestions?

These are just a few questions you can ask to start the conversation with your current customers. By developing a habit of listening and engaging your clients you provide higher levels of customer service that will inevitably lead to more sales and stronger bonds of customer loyalty.

Want to know more? In the video library on the member site you can view the entire presentation, Building Business With Promotional Products, presented by BIC Graphic’s Eileen Lynch, along with Cliff Stack of By The Shore Promotions and Kevin Walsh of Showdown Displays. You can also download a quick reference guide to the hidden opportunities within many of your customers’ organizations.

Eileen Lynch, Regional Sales Manager, bicgraphic.com
Target new segments and increase account penetration with the BIC Vertical Market Guide. To get yours, contact Balinda Gonser at (866) 563-9929. For an online version of the guide go to: http://bit.do/BIC-vertical

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