“To build a long-term, successful enterprise, when you
don’t close a sale, open a relationship.” Patricia Fripp
According to author Doug Hall, you can grow your business 2.8 times faster by increasing the number of new customers
rather than increase sales volume to existing customers.
And, I’m writing to suggest one of the most beneficial ways to increase sales to prospective customers. To illustrate, let
me tell you a story.
Last year, a good friend asked how he could close more sales in his accounting practice. He was interviewing three or four
prospects per week, but he was not satisfied with his close rate. Not surprisingly, I suggested he give a Garland pen to each
prospect and told him of the ASI study that says 62% of prospects who receive a promotional product ultimately do business
with the advertiser. My accountant friend then placed an order for 100 Garland pens through his distributor.
Last week, my friend and I got together for coffee. During the conversation, I asked him if he had a measurable increase in
closed sales when using Garland pens. He raved about the pens, “Prospects love them, sales increased!” Unfortunately, he
didn’t apply a good measurement matrix and couldn’t tell me exactly what percentage of sales he closed.
I suggested he place another order for pens through his distributor; this time for 200 pens. This supply should last through
2019. But, this time I said, “Measure, measure, measure to determine your return-on-investment.”
With my friend’s permission, I’ll report his results in January of 2020. But, as a promotional products consultant, here’s the
lesson you can take away from this story. After working with a client to develop a promotional campaign, go back to the client
to discuss the results. Were they satisfied with the outcome? Did the campaign meet the intended goals? And most importantly,
would they like to place an additional order and continue their success?
One of the most productive sales strategies to increase sales to existing customers is to have them measure the results of a
campaign and then revisit them after the campaign to see if they would like to repeat their success.