One of the fastest ways to grow revenue is to introduce new services or products to current clients. It's typically easier than selling to prospects. Yet selling to both can compound the results without much extra effort.
Here are three tips and an example about how to introduce a new product or service.
1. Identify the target audience.
2. Write a compelling benefit-driven description of the service.
3. Outline a simple marketing campaign.
The Target Audience
Obviously, not everyone is a good candidate for every new service. You know your clients best, so it should be fairly easy to segment your client list for potential candidates. If the list is large and specific data is hard to come by, start with your top 20% ranked by revenue. It's likely you and your staff know that segment best.
You can also collect data by surveying your clients or prospects via email, phone, or social media. It can be as simple as asking if they are interested in the service.
An Example
We recently added in-house perfect binding equipment to expand our short to medium run book printing capability. This makes it easy to offer products such as:
✔️ Catalogs
✔️ Publications
✔️ Directories
✔️ Annual Reports
✔️ Sports Programs
✔️ Magazines
✔️ Training Manuals
✔️ Soft cover paperback books
Who on your client or prospect list might be interested in one or more of these items?
The Description
What are the key benefits to offering one or more of these? This depends on your client's industry and specific needs.
Let's use print catalogs as an example, since nearly every business can make use of a catalog, even service-oriented companies. Some of the key client-focused benefits of a print catalog that could be included in your description:
❑ Availability of both digital and offset printing capability combined with short-run book production means clients can economically print small to medium quantities from a few up through a few thousand.
❑ In-house production means rapid turnaround for time-sensitive clients (in other words, almost everyone!)
❑ Personalization and variable data capability allow for better conversion rates
❑ 84% of print catalog recipients find it easier to shop online with a catalog in hand (US Post Office Survey)
❑ Online revenues increase up to 163% when a site is supported by print catalogs. (US Post Office Survey)
❑ 60% of print catalog recipients visit the website of the company that sent it (Hubspot)
❑ Email + Catalog promotions deliver a 49% lift in sales and a 125% lift in inquiries, nearly double that of an email-only campaign.
❑ Catalogs and print marketing material can integrate into social media, email, and websites with QR and AR codes.
❑ The perfect binding technique adds a sense of exclusivity and premium quality.
❑ Sustainability – WTP uses G7® methodology to promote sustainability through minimal waste from proofing through delivery. We work in accordance with the Forest Stewardship Council® (FSC®) Chain of Custody Standards. We practice lean manufacturing with a digital workflow, computerized press and bindery controls, digital printing, and use of non-toxic long-life consumables. Our sustainability efforts are yours.
Also, don't forget to include your differentiators. What is it that you alone offer that your competitors do not?
It could be as simple as the fact that you are the only one in the area offering such a service. It could be the number of reviews you have. It could be awards or industry certifications. It could be the number of years in business.
The Marketing Campaign
The campaign does not have to be complex. It's a matter of reaching out to your target audience in the ways that they prefer. Generally, this means an omni-channel campaign including email, social media, and direct mail.
An example of a simple campaign might look like this:
• Email announcement
• Direct mail announcement
• Social media announcement on your primary channels
• A press release
• Social media mentions of the press release
• One or more blog posts that solve problems or answer questions related to print catalogs
• Personal phone calls to your best clients
In short, let your target audience know how you can help them succeed with this new service. Segment them on your list, write a great description, and create a simple marketing campaign. Rinse and repeat with every new service you want to offer.
And if you haven't yet done any campaigns for services you currently offer, take the time to create one for every product and service.
If you have any questions about our in-house perfect binding or any of our wide range of printing services, please reach out to us any time.
Our estimating department is available to review your print project at 559-251-8595 ext. 1. Or you can get a fast online quote here.
Go here for more tips on growing a printing business.
