Start Here November '21

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40 S T A R T H E R E 2 0 2 1 form of data analytics that help you take controlled, calculated risks. Talk to your customers. Get to know them. What do they wear? What items do they use in their line of work? What are common items that everyone uses? How often do these items need replacing? Knowing all of this information gives you a head start on picking new items that will most likely have an 80% success rate versus not studying your customers and picking a new item with only a 20% success rate. Your basic research is the cheapest and most valuable information that you have. If the item is used often or is popular, guess what hap- pens? Your sales naturally increase out of the gate and become steady. Once you understand your customers, you can work on a marketing plan to educate them on your new product(s) that you offer. Everyone works with a different size marketing budget and that is OK. No matter your size, you should always look to gain the largest return with the least amount invested. For example, our com- pany did $2.4 million last year and spent around $20,000 on marketing, which is under 1% of our gross sales. Focus on selling a quality product with top-notch customer service and turnaround time. Once you have built pricing for your new products, create sales flyers for them right away. You can add these to your website, give them to customers as they come in, email them to customers, and post them on all of your social media platforms. Think about all of the different ways to promote simply with a sales flyer. Another great way to promote a product is to existing clients. If they spend a certain amount with you, throw in a free gift with their logo on it using the new products. Spending $10 to $20 to promote directly with that customer can lead to a $250 to $1,000 order in most cases, but you will never know that if you do not try. It is easier to promote to an existing customer than a new one. That is another simple low-cost way to promote a new product. Radio, TV, and SEO for websites are great tools, but costly, with no guarantee on your return of your investment, nor do you know how many people or who will walk through your door to order based on those ads. So, it is important to market to who you want as a customer. Remember, if you want to be successful with a new product, you have to put the time in and do the research, which can take a lot of effort. But in the end, you will typically create stronger sales and improve your profits per item that you want to bring into your customers. If you want to be successful with a new product, you have to put the time in and do the research. You can create stronger sales and improve profits by adding the right products to your sublimation services.

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