Have you ever had to fire a client? I know I have. Read on to see my suggestions on when and if you should give up on a promotional products account. Here’s a letter from a promotional products distributor that best illustrates this not-too-uncommon dilemma:

“I have an immediate question and something that has given me sleepless nights. I’m into keeping all my accounts happy, just like you suggest. But, I’m contemplating firing a client. The problem is, in the past they’ve sent in a lot of business. As a company, their revenue is large, but in the last few months of working with them, they have not been as profitable as we would like them to be. They have become very difficult and irrational when I try to educate them on this industry. I believe they may be shopping my ideas and only looking for the lowest price. Do I fire this client, or continue sleepless nights or devoting my time to an unhappy group of people?”

First, try communicating with them about what’s going on. An honest discussion about your concerns may reveal some issues you may not be aware of. Next, use the questions below to evaluate not just them, but all your promotional products accounts:

• Are they profitable? On average can you make at least a 35% gross profit margin or more on the orders that you sell to them?
• Do they accept the price you give them or are they always haggling?
• Do they pay in a timely fashion—30 days or less?
• Do they respect your ideas and your input without “shopping it?”
• Do you enjoy working with them?
• Do they have the ability to give you larger orders and repeat business?
• Are they part of a growth industry?
• Can they be a source of referral business for you?

If you answered yes to most of the above, it sounds like you have a good account. If not, evaluate your relationship. As a promotional products consultant, your good health and happiness are directly linked to your sales success. Think about what this client  is costing you in terms of time, money and aggravation, and then I am sure you’ll make the right decision.

I would like to hear from you. Have you ever had to fire a client?

How would you handle this situation? Please comment below.

Rosalie Marcus, The Promo Biz Coach(TM)  teaches promotional products sales professionals how to sell smarter and make more money with less time and effort. Contact her at Rosalie@promobizcoach.com

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I believe you can’t be all things to all people but you can be a star in your target market.

As a business coach, my niche is working with promotional products distributor owners and sales representatives. I teach them strategies to sell smarter and make more money with less time and effort. I help my coaching clients identify ideal, profitable niche markets (that speak to their strength, skills and passions) and then show them how to become the go-to person in those markets.

Why develop niche market expertise? Whether you’re new or established in the promotional products industry, you may have noticed that things are shifting dramatically in our industry.

Many of the traditional ways of selling promotional products are no longer working. In fact, many are obsolete. To prosper in promotional products sales today, you need to work differently. You need to position yourself as an expert, target your marketing and be invaluable. Your clients want to do business with experts.

Many people fear having a niche market will limit their business. Actually, the opposite is true. When you establish niche market expertise you’ll get more referrals, your reputation will grow, and clients will seek you out. As an added benefit, you’ll enjoy your work more.

There are many ways to establish a niche. You can niche by the industries you serve, the products you sell or the services you provide, and these are just the tip of the iceberg when it comes to niche marketing.

One thing to keep in mind, having a niche or niche markets does not mean you can’t sell outside of that market. It just means this is where you will concentrate the majority of your marketing efforts.

In my own promotional products business, the year I decided to concentrate my efforts on a lucrative niche market my sales doubled and continue to grow rapidly. Shortly thereafter my company made the “100 Fastest Growing Companies” list in the Philadelphia Business Journal, and I had clients seeking me out for my expertise.

The same niche marketing strategy I used to grow my own promotional products business, I have been able to share with many of my coaching clients who got equally great results.

Remember the more expertise you have in your niche, the more opportunities become available to you and that translates into a more profitable business.

Want help finding your ideal, profitable niche market? On Tuesday, October 25 at 2:00 p.m. Eastern time I’ll be hosting a FREE Niche to Be Rich Secrets Webinar.

You can listen on the web or your telephone. If you’re ready to attract more business, double your sales and enjoy your work more I invite you to join me.

Reserve your spot even if you’re busy that day, I’ll send you the replay to listen to again.

Reserve your spot here.

If you have any problems with the registration link or have questions contact me at Rosalie@promobizcoach.com