Each week on DMJ 1 on 1, Kirby Hasseman takes on a different topic to help provide value to those looking to grow a brand or organization. This time Kirby talks about mastering the 3 R’s of business…and how branded merch can help. Watch now!
How To Master The 3 R’s Of Business with Branded Merch
Mastering the three R’s of business – retention, repeat business, and referrals – is a crucial aspect of any successful enterprise. In this article, we delve into the importance of these three R’s and how branded merchandise can be leveraged to optimize these business aspects. We’ll explore how showing appreciation to your customers can significantly improve retention, how branded merchandise can boost repeat business, and how it can also incentivize referrals, thereby contributing to business growth.
Branded merchandise is not just a marketing tool; it’s a tangible representation of your brand that customers can appreciate and remember. It’s a way to make your business more top-of-mind for your customers, increasing the likelihood of repeat business and referrals. So, let’s dive into the details and learn how to master the three R’s of business with branded merch.
Retention
Customer retention is a vital aspect of any successful business. It’s often said that it’s cheaper to keep an existing customer than to acquire a new one. However, many businesses lose customers due to perceived indifference. This is where showing appreciation to your customers comes into play.
One effective way to show appreciation is through the use of branded merchandise. It’s a tangible way to express gratitude, making your customers feel valued and appreciated. Consider creating a quarterly appreciation program for your top customers, where you can distribute branded merchandise as tokens of your appreciation. This not only improves customer retention but also strengthens your brand’s relationship with its customers.
Repeat Business
Repeat business is the lifeblood of any successful enterprise. It’s a testament to your brand’s quality and reliability. Branded merchandise can play a significant role in increasing the frequency and size of customer orders. A study showed that customers who received branded merchandise ordered 18% faster and 18% more, highlighting the impact of branded merchandise on repeat business.
Offering customers something of value, like branded merchandise, helps them remember your brand when making a purchase. It’s also important to consider where your ideal customer is when they realize they need your brand’s service. By strategically placing your branded merchandise, you can ensure that your brand is top-of-mind when your customer needs your service.
Referrals
Referrals are a powerful tool for business growth. A happy customer is the best brand ambassador, and with the right incentives, they can refer others to your business. Branded merchandise can be an effective incentive for customers to refer others.
Consider creating a referral program where customers are rewarded with branded merchandise for successful referrals. The key here is to utilize quality branded merchandise that represents your brand well. This not only incentivizes referrals but also ensures that your brand is represented positively in the eyes of potential customers.
Conclusion
In conclusion, branded merchandise is more than just a marketing piece; it’s a tool that can significantly improve customer retention, boost repeat business, and incentivize referrals. By strategically utilizing branded merchandise, businesses can ensure that they are always top-of-mind for their customers, leading to increased business growth and success.
Delivering Marketing Joy is an award-winning interview show that helps marketers level up. Each week, Kirby Hasseman interviews the best and brightest minds in marketing to help you level up. This time on Lessons from DMJ, Kirby talks with Adam Callinan on profitability, Shark Tank, and why every entrepreneur is struggling right now. Watch now.
In this insightful interview, we delve into the entrepreneurial journey of Adam Callinan, the founder of Pentan, an e-commerce-focused SAS company. Callinan, who previously co-founded BottleKeeper, a company that achieved a staggering $8 million in sales without a single employee, shares his experiences, challenges, and lessons learned. He emphasizes the importance of leveraging technology, software, and automation in building a business, as opposed to the traditional approach of hiring people.
Through his unique journey, Callinan provides a fresh perspective on entrepreneurship, highlighting the struggles that every entrepreneur faces, and the importance of creating structure and maintaining physical and mental well-being. He also discusses why many early-stage companies struggle with profitability, and shares his experience of appearing on Shark Tank, which significantly boosted his company’s revenue. Lastly, he offers a special deal for listeners to access Pentan for the first 30 days for just $1.
Building a Company with No Employees
Callinan’s journey with BottleKeeper is a testament to the power of technology and automation in business. With a foundation rooted in a previous medical device business, BottleKeeper was built with strict guardrails to avoid hiring employees. Instead, Callinan focused on using technology and automation to build platforms and manage operations.
This unconventional approach allowed him to maintain control over the business, reduce overhead costs, and achieve impressive sales figures. The success of BottleKeeper serves as a compelling case study for entrepreneurs exploring alternative business models.
Challenges of Building Bottlekeeper
Despite its success, the journey of building BottleKeeper was not without its challenges. Callinan faced difficulties with inventory management and the cyclical nature of the business, which resulted in swings in revenue throughout the year. These challenges, while difficult, provided invaluable lessons that shaped the growth and evolution of the company.
Moreover, Callinan also discusses the mental challenges of dealing with the highs and lows of the business. The entrepreneurial journey, while rewarding, can often be a rollercoaster of emotions, and Callinan’s experience underscores the importance of resilience and adaptability.
Struggles Faced by Entrepreneurs
Callinan highlights the struggles that every entrepreneur faces, emphasizing the need for entrepreneurs to create structure and take care of themselves physically and mentally. The entrepreneurial journey can be fraught with challenges and uncertainties, making it crucial for entrepreneurs to prioritize their well-being and avoid isolation.
Creating structure, setting boundaries, and maintaining a healthy work-life balance are essential for long-term success. Callinan’s insights underscore the importance of self-care in entrepreneurship, a topic that is often overlooked in the pursuit of business success.
Reasons for Early Stage Companies Not Being Profitable
Callinan discusses why many early-stage companies struggle with profitability. He points out that the default approach of raising capital can lead to frivolous spending, and the tendency to add fixed expenses without understanding the necessary revenue levels can hinder profitability.
Understanding financial metrics and marketing efficiency is crucial for profitability. Callinan’s insights provide a valuable perspective for early-stage entrepreneurs, highlighting the importance of financial literacy and strategic planning in achieving profitability.
Impact of Appearing on Shark Tank
Callinan shares his experience of appearing on Shark Tank, a platform that provided incredible free advertising for BottleKeeper. The company experienced a significant boost in revenue after the episode aired, demonstrating the power of strategic exposure and publicity.
The ongoing impact of the Shark Tank appearance on the company’s success is a testament to the importance of seizing opportunities and leveraging platforms for business growth. Callinan’s experience provides valuable insights for entrepreneurs seeking to maximize their visibility and reach.
This offer provides a unique opportunity for entrepreneurs to leverage the power of Pentan’s platform to streamline their operations and enhance their profitability. With its focus on solving financial operation problems, Pentan is poised to be a valuable resource for entrepreneurs navigating the complexities of e-commerce.
Each week on DMJ 1 on 1, Kirby Hasseman takes on a different topic to help provide value to those looking to grow a brand or organization. This time Kirby tackles the question everyone has been asking. “What are all these charges on Branded Merch?” Have you ever been confused or frustrated by your invoice after purchasing branded merch? Then this episode is for you! Watch now…and feel free to read below.
DMJ 1 on 1: What Are All These Charges on Branded Merch?
The world of branded merchandise can be a labyrinth of extra charges and hidden fees. It’s a common experience for clients to receive an invoice that’s significantly higher than the initial quote, leading to confusion and frustration. Today we set out to demystify the pricing structure of branded merchandise and educate viewers on the various charges associated with it.
The video acknowledges the complexity of the pricing structure in the branded merchandise industry. It explains that these extra charges are often necessary for suppliers to compete on price in the industry. The goal of the video and this article is to provide insight into the pricing structure of branded merchandise and educate viewers about the extra charges associated with it.
Screen Charges
Screen charges are fees associated with creating physical screens for screen printing. These charges are necessary for each color used in the design. This means that a design with multiple colors will have multiple screen charges. Suppliers often save screens for up to two years, which can save on costs for repeat orders. However, screen charges can significantly impact the cost of branded merchandise, especially for small orders or designs with multiple colors.
While these charges may seem excessive, they are a necessary part of the screen printing process. The creation of screens involves labor and materials, and these costs need to be covered. Understanding this can help clients make informed decisions about their design and color choices.
Setup Fees
Setup fees are another common charge in the branded merchandise industry. These fees cover the time and labor required to set up machines and prepare for printing. Setup fees are common in digital printing and other printing methods that don’t require physical screens. Repeat setup fees may be charged for subsequent orders of the same design. These fees help suppliers cover the cost of labor and maintain competitive pricing.
Run Charges
Run charges are additional fees for running the job multiple times or in different locations. These charges may apply when printing multiple colors or printing in different areas of the product. Additional run charges can increase the overall cost of the order, especially for small quantities or complex designs.
Embroidery Charges
Embroidery charges are associated with creating digital files and setting up embroidery machines. A DST file is used to guide the sewing machine and ensure accurate embroidery. Embroidery charges are typically a one-time fee unless modifications to the design are requested. Keeping the art consistent can help avoid additional charges.
Art Charges
Art charges may apply when the provided artwork needs to be converted to a vector or camera-ready format. Vector art ensures that the design remains clear and doesn’t pixelate when resized. Art charges can be avoided by providing high-quality vector art. However, suppliers may need to clean up or modify artwork, resulting in additional charges.
Proof Charges
Proof charges are fees for reviewing and approving artwork before production. Proof charges act as an insurance policy to ensure the correct artwork is used. Some suppliers may charge proof fees, while others may not. As Kirby mentioned in the video, this charge can be a source of frustration for distributors and clients. But these charges have been created by using the supplier as the “art department” and requesting multiple proofs on every order. Implementing a system of one free proof could encourage better artwork preparation.
Less Than Minimum Charges
Less than minimum charges are fees for ordering quantities below the supplier’s minimum requirement. Suppliers may charge less than minimum fees to compensate for the inconvenience of producing smaller quantities. These charges cover the cost of handling and storing excess inventory.
PMS Color Match Charges
PMS color match charges are fees for matching specific colors using the Pantone Matching System. PMS color match ensures precise color reproduction for brands with specific color requirements. Matching colors accurately may require additional time and effort, resulting in extra charges. This fee will be charged for each color that needs to be specifically matched.
Shipping Charges
Shipping charges cover the cost of delivering the branded merchandise to the client. Shipping charges are necessary when products need to be shipped across the United States. Suppliers may include shipping charges in the overall pricing or list them separately. Considering shipping options and planning ahead can help mitigate shipping charges. But make no mistake, no distributor has the space to house the (over) 1 million promotional products for sale. So there will be a cost of shipping to deliver your order.
Conclusion
The world of branded merchandise can be a labyrinth of extra charges and hidden fees. However, understanding these charges can help clients make informed decisions and avoid surprises on the invoice. The goal of this article is to educate viewers about the extra charges associated with branded merchandise and provide insight into the pricing structure of the industry.
Remember, it’s always a good idea to ask for all charges upfront. This can help avoid surprises on the invoice and ensure that you’re getting the best value for your money. So the next time you’re ordering branded merchandise, don’t be afraid to ask questions and get the information you need.
Delivering Marketing Joy is an award-winning interview show that helps marketers level up. Each week, Kirby Hasseman interviews the best and brightest minds in marketing to help you level up. This time on Lessons from DMJ, Kirby talks with Joey Coleman about how to never lose a customer again. Watch now!
In this insightful discussion, Kirby Hasseman interviews Joey Coleman, the renowned author of “Never Lose a Customer Again.” The conversation centers on the crucial aspect of customer retention, an area often overlooked by businesses. The focus of many companies is predominantly on acquiring new customers, with less attention given to maintaining existing ones. However, Coleman asserts that a shift in mindset is necessary to concentrate on what happens post-sale, which is equally, if not more, important.
Throughout the conversation, Coleman provides a wealth of knowledge and practical advice on how businesses can improve their customer retention strategies. He delves into the reasons why businesses focus more on acquisition, the importance of customer retention, philosophical and practical approaches to customer retention, the concept of secondary customers, and practical tips for improving customer retention. He also emphasizes the significance of naming processes and using language that resonates with customers. This article aims to encapsulate the main points of this enlightening discussion.
Why Businesses Focus on Acquisition
Joey Coleman begins by explaining the biological and operational reasons for businesses’ focus on acquiring new customers. Humans are biologically predisposed to seek new experiences and novelty, a trait that often translates into business operations. This predisposition is further reinforced by the operational structure of organizations, which are often led by CEOs with marketing or sales backgrounds. These leaders naturally lean towards strategies that involve acquiring new customers, as this is their area of expertise.
However, Coleman suggests that this focus on acquisition often comes at the expense of customer retention. While acquiring new customers is important for business growth, retaining existing customers is equally crucial for sustainability. He argues that businesses need to strike a balance between these two aspects to ensure long-term success.
The Importance of Customer Retention
Emphasizing the importance of customer retention, Coleman points out that between 20-70% of new customers stop doing business within the first 100 days. This startling statistic highlights the need for businesses to focus on delivering a remarkable customer experience at every step of the customer journey. By keeping customers, businesses can increase revenues, profits, and retention.
He also stresses the importance of critically analyzing each step in the customer journey. By understanding the customer’s experience at each stage, businesses can identify areas for improvement and take the necessary steps to enhance their service. This not only improves customer satisfaction but also increases the likelihood of customer retention.
Philosophical and Practical Approaches to Customer Retention
Delving into the philosophical and practical aspects of improving customer retention, Coleman discusses the need for businesses to be aware of what happens after the sale. This involves mapping the customer journey to identify areas for improvement and delivering a remarkable experience consistently. By paying attention to the post-sale experience, businesses can ensure that customers remain satisfied and continue to do business with them.
He also provides practical tips on how to improve customer retention. This includes systematizing follow-up and project success reviews, using language that resonates with customers, and delivering a remarkable experience at every stage of the customer journey. By implementing these strategies, businesses can significantly improve their customer retention rates.
The Concept of Secondary Customers
One of the unique concepts that Coleman introduces is the idea of secondary customers. These are the people affected by the decision or involved in the process, but not necessarily the decision makers. By serving these secondary customers, businesses can enhance their customer retention strategies.
Examples of secondary customers in the promotional product space include the recipients of the promotional products, the people involved in the purchasing process, and the people who interact with the promotional products. By serving these secondary customers, businesses can create a positive experience for all involved, leading to long-term retention.
Practical Tips for Improving Customer Retention
Throughout the discussion, Coleman provides a range of practical tips for improving customer retention. This includes mapping the customer journey to identify gaps and areas for improvement, systematizing follow-up and project success reviews, and using language that resonates with customers. By implementing these strategies, businesses can significantly improve their customer retention rates.
He also emphasizes the importance of using language that resonates with customers. This involves using terms and phrases that align with customer expectations and convey the value of the product or service. By using language that resonates with customers, businesses can enhance their customer experience and increase retention.
The Significance of Naming Processes
One of the key points that Coleman highlights is the importance of naming processes. He suggests that the language used to describe processes should align with customer expectations. For example, renaming follow-up to project success review can create a more positive perception of the process and demonstrate a commitment to constant improvement.
By naming processes in a way that resonates with customers, businesses can build trust and demonstrate their commitment to delivering a remarkable customer experience. This not only enhances the customer experience but also increases the likelihood of customer retention.
Conclusion
In conclusion, Joey Coleman encourages businesses to constantly strive for improvement and to serve their customers and employees in a remarkable way. He suggests that by focusing on customer retention and delivering a remarkable customer experience at every stage of the customer journey, businesses can achieve long-term success.
Each week on DMJ 1 on 1, Kirby Hasseman takes on a different topic to help provide value to those looking to grow a brand or organization. Recently, he talked about 4 Things To Stop Doing On Social Media in 2024. That episode spurred a lot of engagement and questions from the audience…and today he gives in and answers some questions from the audience!
This time on DMJ 1 on 1, Kirby addresses a range of questions from the audience, all centered around the key theme of content marketing. The discussion covers a broad spectrum of topics, from leveraging customer questions for content creation to the delicate balance of sales and value on social media. Kirby also shares his views on LinkedIn sales services and provides guidance on choosing the right social media platform and posting frequency. Finally, the conversation concludes with a discussion on the long-term commitment required for successful content marketing.
Using Customer Questions for Content Creation
To start, Kirby encourages using customer questions as a resource for content creation. He suggests writing down the 10 questions you get all the time and starting by answering those questions. This strategy not only helps in creating relevant content but also ensures that the content addresses the needs and concerns of the audience.
Moreover, Kirby emphasizes the importance of keeping your eyes and ears open for feedback, pushback, or follow-up questions to create new content. He believes that listening to customer questions helps clarify and expand upon existing content, thereby making it more comprehensive and useful for the audience.
Balancing Sales and Value on Social Media
One concern is being “too salesy.” Kirby addresses concerns about being too salesy on social media and suggests a ratio of providing value to asking for a sale. He believes that constantly selling on social media can be a mistake; instead, the focus should be on providing value. He suggests a 3:1 or 4:1 ratio of providing value to asking for a sale. Building trust and giving more than asking is important in the “give first economy.” This approach not only helps in building a loyal customer base but also ensures that the customers see value in the content and are more likely to engage with it.
Negative Impact of LinkedIn Sales Services
But what about “done for you” sales packages on LinkedIn? Kirby expresses dislike for LinkedIn sales services and recommends personal research and connection building instead. He believes that LinkedIn sales services are overdone and ruin the platform. He suggests that building trust and relationships requires personal effort and research.
Moreover, content creators should share strategies and not worry about others copying their strategies. He believes that copying strategies and sharing content among content creators is beneficial and can lead to the creation of more diverse and engaging content.
Choosing the Right Social Media Platform and Posting Frequency
Kirby also discusses the importance of choosing the right platform and frequency of posting based on the target audience. He suggests identifying the social media platform where the target audience spends the most time. Starting with one platform can be less overwhelming for beginners.
Furthermore, he emphasizes that the posting frequency should be as often as possible while maintaining good quality content. He believes that creating high-quality content consistently can help build a loyal audience and enhance brand visibility.
Long-Term Commitment to Content Marketing
“It’s a long-term game.” Kirby emphasizes the long-term commitment required for content marketing and the importance of building brand awareness and trust. He suggests that content creators should commit to at least 12 to 18 months for content marketing strategy.
Content marketing is a long-term play for building brand awareness and trust. Content creators should focus on providing value and creating top-of-mind awareness. This approach not only helps in building a strong brand but also ensures that the audience sees value in the content and is more likely to engage with it.
Conclusion
What do you want to ask? Now is a great time to reach out with questions for future episodes. And if you are getting value, please feel free to subscribe and rate the podcast!
Delivering Marketing Joy is an award-winning interview show that helps marketers level up. Each week, Kirby Hasseman interviews the best and brightest minds in marketing to help you level up. This time on Lessons from DMJ, Kirby talks with Jason Friedman on the importance of the customer experience and why boring is beautiful. Watch now!
In this episode of Delivering #Marketing Joy, Jason Friedman, the founder and CEO of CX Formula, delves into the critical importance of designing a customer experience journey. He underscores the necessity of building strong relationships with customers and creating a seamless, frictionless experience. The focus of the discussion revolves around the core concepts of customer loyalty, lifetime value, and the power of referrals. Friedman’s insights shed light on the profound impact a well-designed customer experience can have on customer satisfaction and overall business growth.
Throughout the discussion, Friedman also highlights the often overlooked value of repeat customers and the need to prioritize their satisfaction. He strongly advocates against “random acts of marketing,” suggesting instead a focus on sharing customer stories and experiences to attract the right audience. He introduces the innovative concept of a “kinetic pathway,” which involves reducing friction and increasing momentum in the customer journey. The conversation also touches upon the importance of effective onboarding, emphasizing relationship building over information overload. Lastly, Friedman offers valuable advice on creating an ideal customer script to guide businesses in delivering the desired results.
The Importance of Customer Experience Journey
Jason Friedman places a significant emphasis on the customer experience journey. He believes that businesses should be proactive in designing this journey to ensure a smooth and enjoyable experience for their customers. This involves understanding the customer’s needs, expectations, and preferences, and then tailoring the business’s services or products to meet these requirements.
Friedman argues that a well-designed customer experience journey can have a profound impact on customer satisfaction and business growth. It can lead to increased customer loyalty, higher lifetime value, and more referrals. This, in turn, can result in increased revenue and profitability for the business.
The Value of Repeat Customers
Friedman highlights the value of repeat customers, arguing that businesses often focus too much on acquiring new customers and neglect their existing ones. He suggests that businesses should prioritize the satisfaction of their repeat customers, as they are more likely to become advocates for the business and refer others to it.
Understanding and meeting the needs of repeat customers is crucial. These customers have already demonstrated their loyalty and commitment to the business, and it is important to reward this loyalty by providing them with excellent service and value. By doing so, businesses can encourage these customers to continue supporting them and to spread the word about their positive experiences.
Avoiding Random Acts of Marketing
Friedman advises against “random acts of marketing,” which he describes as marketing efforts that lack a clear strategy or purpose. Instead, he suggests that businesses should focus on sharing customer stories and experiences. These stories can serve as powerful testimonials, demonstrating the value of the business’s products or services and attracting the right audience.
By sharing relevant and relatable stories, businesses can create a strong connection with their audience. This connection can lead to increased trust and loyalty, which can ultimately result in higher sales and profitability.
The Concept of Kinetic Pathway
Friedman introduces the concept of a “kinetic pathway,” which he describes as a customer journey that is designed to reduce friction and increase momentum. This involves removing any obstacles or barriers that may hinder the customer’s journey, and creating a fluid, seamless experience.
The kinetic pathway is different from a traditional customer journey in that it focuses on creating a sense of momentum and forward movement. By reducing friction and obstacles, businesses can make it easier for customers to move through the buying process, leading to higher conversion rates and increased customer satisfaction.
Effective Onboarding
Friedman emphasizes the importance of effective onboarding, arguing that it should focus on relationship-building rather than overwhelming customers with information. He suggests that businesses should help customers understand the relationship they are entering into, and acclimate them to the business’s products or services.
Overloading customers with information during the onboarding process can be counterproductive. Instead, businesses should focus on building a strong relationship with the customer, providing them with the support and guidance they need to get the most out of the business’s products or services.
Creating an Ideal Customer Script
Friedman advises businesses to create an ideal customer script, which can serve as a roadmap for delivering the desired results. This involves pretending to be the customer and writing a script of their experience, and then using this script to guide the business’s efforts.
The ideal customer script can help businesses understand the customer’s perspective and anticipate their needs and expectations. By incorporating elements of the script into the customer experience journey, businesses can ensure that they are delivering a consistent, high-quality experience that meets the customer’s needs and exceeds their expectations.
Conclusion
In conclusion, Jason Friedman offers a wealth of insights and advice on improving the customer experience. He emphasizes the importance of designing a customer experience journey, prioritizing the satisfaction of repeat customers, avoiding random acts of marketing, and creating a kinetic pathway. He also highlights the importance of effective onboarding and the creation of an ideal customer script. To assist businesses in implementing these strategies, Friedman offers a free tool to help improve their customer experience.
