Promotional Product Commissions

5 Tips That Can Easily Add 5-10% To Your Commissions

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Here are 5 tips that I’ve used and coached throughout my promotional product career. When used correctly, these techniques can add 5-10% to the gross profit of distributor sales reps. Please use these tip wisely and often. Enjoy the extra spending money!

  1. Never Use A Catalog

DO NOT ever give a catalog to your client. Pricing in our industry is 100% relative and based on perceived value. Set the perception and you set the price. If you give your client a catalog you are giving them exactly what they need to start price shopping. Give your client a catalog and you will GUARANTEE yourself a lower margin than you could have earned.

  1. “Read” Your Client

How experienced is your client? Do they purchase promotional products every day or is this their first time? Is this order a very important decision to him? Or does he just want to get it over with and off his checklist?

You need to be able to read your client and the situation. Their experience level will tell you a lot about where to price their project. If they lack experience, walk them through the ordering, production, and delivery process, but don’t forget to pay yourself for the service provided by padding your bottom line a bit.

  1. Understand The Value You Bring

We aren’t peddlers of trinkets and trash. We are professional branded merchandise consultants. We source products, negotiate, manage logistics, and protect the brands and businesses of our clients. Never forget that. Don’t minimize your value because that always leads to you minimizing your margin.

 

  1. Use Trusted Suppliers That Give You The Best Pricing

Not all suppliers are created equal, nor is the pricing they offer. Whenever possible present your clients with products from the suppliers that give you the best pricing. Special pricing is usually available from the large suppliers. Give your customer a high-quality product and give yourself higher commissions by using trusted, value-driven suppliers.

  1. Add “Closeouts” to your offering

Some reps view closeouts or overstock items as unsellable, obsolete products. This couldn’t be further from the truth. In many cases, adding closeouts to your product mix provides great value to your client, generates higher margins for you, and helps a trusted supplier move merchandise. There are very successful reps who make great livings selling closeouts exclusively. You can usually sell overstock items at a margin of 60%. That’s definitely something to be excited about!

slu mba program

PromoPlacement Goes Back To Grad School

Despite having a few MBAs already on the PromoPlacement team, we’re heading back to school and we couldn’t be happier!

About a month ago, a unique letter arrived at our office. It was from the John Cook School of Business
Saint Louis University.

Hmm… What could it be? We decided that the most likely explanation was that our founder was missing some credits and needed to return his diploma.

Thankfully, the letter was a bit more positive than that. It was an invitation to apply for participation in the MBA Consulting Program at the Cook School of Business. It was a huge opportunity!

The Cook School of Business is the oldest business school west of the Mississippi River and 15th oldest in the United States. It has a long reputation for producing top-level business talent. C-suites throughout St. Louis and the Midwest of full of SLU MBAs.

We knew that we badly wanted to partner with the SLU MBA program. We worked through a few drafts of our application, sent it in, and crossed our fingers.

Hooray! Hooray! We found out late last week that we were approved. We start our partnership with the MBA candidates during the fall semester.

We’re fortunate to have this opportunity and look forward to seeing what our partnership yields!

7 Tips For Making Your Job Change A Breeze

For many people changing jobs can be a nightmare.

Work days that were once filled with confidence and routine, became full of anxiety and questions. Am I the low person on the totem pole? What was my password for this CRM program I have no idea how to use? What’s that guy’s name again? How does this stupid coffee machine work?!?!?!

If you’re going to take one thing away from this post make it this: A job (or even a career!) change is nothing to be nervous about. It is inevitable!

Use these 7 tips to hit the ground running at your new job!

  1. Act like you are still being interviewed. Don’t get too comfortable too early. You are still being evaluated. You need to continue to impress and prove yourself.
  2. Get to know some of the team before your start date. Happy hours and company events are great for this. Spending time with soon-to-be co-workers outside of the office is less formal and you can get up to date on current projects. It’s also a great insight into the company culture.
  3. Take notes. This one seems really obvious, but lots of people ignore it. During your on-boarding you’ll be hit with a ton of information. Some of this will be fluff, but we advise taking notes so you don’t miss the useful parts.
  4. Volunteer for everything that you can. Community Service committee? You need to be on it. Party Planning committee? Yes, please. Get involved early and often. This shows that you’re in for the long haul and can increase your exposure to your bosses and their bosses.
  5. Be proactive! Don’t wait to be given an assignment or told what to do. In 2014, no employer wants drones. Stay 30 minutes late each day to work on a project that you came up with. The project may not get off the ground, but your boss will love the effort.
  6. Be yourself. You’ve got the job already! It’s not time to slack off, but don’t act like a perfect employee robot either. Enjoy your work and have fun getting to know your co-workers.
  7. Work your butt off!
PromoPlacement

What Is PromoPlacement?

The traditional job market for Promotional Product professionals works something like this. Growth-oriented distributors hire recruiters, send out countless mailings, and make endless calls in the hopes of finding interested job candidates. They often fail to reach the people who are really interested and if you happen to be looking, you often don’t hear from one of these firms.

So, what is PromoPlacement?

We believe the job market should be built around you, the Promotional Product professional. If you are interested in a new position, tell us. We’ll conduct a search for you, and recommend the potential employers that meet your needs. You work with experienced, connected, placement consultants, not the recruiters who are mailing, calling and emailing you every day.

Since PromoPlacement is built around you, tell us what you like and don’t like in a company. Let us know what you really need to excel and we will find a new home for you and your business.

We founded PromoPlacement to make it easier for job hunters to find a better position (and more money). You don’t need to work where you are unhappy, unappreciated, and underpaid. Try PromoPlacement today and give yourself a promotion!