It’s the end of the year. The time for parties, networking and year end celebrations, it’s also a great time to review what went well in your promotional products business in 2016, and what you can change to make 2017 an even better, more profitable year!
Use the handy review and checklist below to get started.
1. Review your current client list. Who were your top clients this year? Rank your clients by sales volume and profitability. Think about ways you can bring in even more sales from those clients in 2017. Although it’s always important to prospect for new clients, it’s much easier and less costly to sell more to existing clients.
2. Review your top suppliers. Which suppliers got the bulk of your business? Which suppliers did you love working with? Check to see if you are eligible for rebates from those suppliers. See if you qualify to get set up for EQP for 2017.
3. Review your referral strategies. Do you have a system in place to ask for referrals? What about creating a client loyalty program and rewarding referrers with a promotional gift. Model what you’d like your clients to do and watch you sales grow!
4. Review your top product categories. Which product categories did you sell the most in 2016? Is it possible to create a niche around that product category? Why do you think you sold more of that product category? Which product category do you enjoy selling most?
5. Review and update your website. Has your website looked the same for the past few years? What can you do to enhance it and make it stand out from the competition? Is your website mobile friendly? Do you have an FAQ page? Do you have free report or giveaway that will help you capture your website visitor’s names and stay connected to them? While you’re at it, check all the links and contact information on your site to make sure they’re working correctly.
6. Review your tax obligations. Now is the time to connect with your tax preparer to review year-end tax savings strategies. It’s also a great the time to compile and organize your financial records. You’ll be surprised how much you can save when you plan in advance.
7. Review your marketing strategies. Which marketing strategies worked the best for you this year? Which marketing strategies can you let go? Which marketing strategies did you enjoy the most? Now is a great time to create your marketing plan for 2017 and any new strategies you will try.
8. Review the people you should be thanking. If you’re like most promotional products professionals you’ve got a list of top clients you’ll be thanking with a gift or a note, but here are some people you may not have thought about thanking, but I’m sure would appreciate hearing from you: your favorite suppliers, your mail carrier and UPS driver, the bookkeeper responsible for writing the checks at your top client’s office, your colleagues and family who give you support and guidance to help your business grow.
9. Review your technology. Are you taking advantage of all the latest apps to work smarter, not harder? Do you need to upgrade your computer or smart phone? Are there search tools and automated marketing solutions that will save you time and effort? End-of-year sales may be the perfect incentive to update your technology.
10. Review your office systems and strategies. Year end is a great time to organize your office and set up systems. What can you do to work more efficiently? What tasks can you delegate to someone who can do them better or more efficiently? What clutter can you eliminate to make your office more conducive to getting more done?
Spend the time now to ensure smooth sailing for the coming year. Here’s wishing you a very happy holiday and all the best for 2017!
Rosalie Marcus, The Promo Biz Coach, is a promotional products business expert, coach and speaker. Combining her skills and years of experience in promotional sales, she helps her clients sell more at higher profit margins and dramatically increase their incomes. Get a free special report: 10 Proven Ways to Thrive in Promotional Products Sales… in Any Economy at www.promobizcoach.com. Reach her at Rosalie@promobizcoach.com or (215) 572-6766.