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Tuesday
February 23, 2010 Extend the Olive Branch by Extending Credit TermsFiled under: Guest Blog We all know the recession has wreaked havoc on the industry and made daily business a struggle, but it’s also affected the way suppliers and distributors relate to one another. Any time a company’s bottom line is affected, it can cause unwelcome practices like dried up credit terms. Distributors left high and dry must either pony-up payment beforehand or put down a credit card. Sure it makes sense to ask a distributor with poor credit or new to the industry to pay up-front, but what about all those distributors with an excellent credit score? Suppliers should ask themselves whether or not they can really not afford to help a distributor sell. Recently, ASI surveyed a sample of distributors to see how industry credit and credit terms were affecting their business. A majority of respondents were owners or primary contacts at their company, and 74% said getting good credit terms is a vital part of staying viable and competitive in the marketplace. Distributors spoke out loud and clear. “Even with a very good credit rating, it is almost impossible to get terms for more than $10,000 – and usually lower amounts with suppliers with whom you haven’t done business with recently,” said one. “You’re penalized for not doing consistent business with them. It’s very tough to work without decent credit terms.” Remember, distributors are our industry’s salespeople and suppliers provide the industry’s products. At a time when we rely on each another more than ever to grow, I’d ask suppliers to look long and hard at who they turn down when choosing not to extend terms. It may make more sense to preserve fragile relationships, by offering a proverbial olive branch or line of credit to those who are worthy. It’s easier to maintain a good relationship than it is to go out and make a new one. Suppliers can click here to learn more about checking distributor credit scores through CreditConnect. If you don’t use CreditConnect, try using another industry service so you can find out what a distributor’s credit score is. Distributors can learn more about their industry credit score by sending a message to customerservice@asicentral.com. – Gene Gene Rahill is sales director of ASICreditConnect – reach him here.
Monday
February 22, 2010 LogoMall Has Actors Walking Across the ScreenFiled under: Industry Initiatives, Member Benefits, News About ASI
ASI’s LogoMall is reaching for the stars as well, using the latest in digital marketing – walking, talking onscreen personalities – to engage visitors and potential buyers. It works like this: Click on a LogoMall website and an actor of your choice actually walks out onto the screen, says hello and proceeds to guide you through the site, helping you find promotional products and ideas. The first time I saw it, one word popped into my mind: Cool. The videos – and there are plenty to choose from – are professionally produced by ASI affiliate RIVWorks Inc. They can also create custom video to further personalize your site. No matter what you choose, the end result is further reinforcement of your brand and higher sales conversions. To view an online demo, click here. The best part of this incredible new marketing tool is it’s easy. Instead of spending time and money making the videos yourself, we do it for you, leaving you more time for selling. As an added bonus, real-time analytics track each campaign to show you your video impressions and click-through rates to document leads. The interactive platform also records whether visitors are first-time or return, and then it delivers the right video instantly. Distributors with a LogoMall site can join the future of online marketing and subscribe to the new video service immediately, at special pricing for ASI members. Tell me what cutting-edge moves your company’s made recently by posting a comment or emailing me here. I’m also on Twitter, LinkedIn and YouTube.
Monday
February 22, 2010 Industry Sales $15.9 Billion for 2009Filed under: Research We recently announced industry sales results that reflect what we’ve been saying for months: while the industry took a major hit in 2009, the worst appears to be behind us. ASI’s exclusive annual industry sales estimate shows promotional products sales were $15.9 billion, down 19.5% versus 2008. The annual estimate is adjusted for certain year-end information, including distributors that exited the industry during 2009 and distributors that have not been part of ASI for the last 12 months. While sales dropped, quarter-by-quarter declines throughout 2009 have slowed consistently. Fourth-quarter 2009 sales were off 9.7%, the lowest decline among the other three quarters. Results also indicate that economic turbulence may be easing, with 34% of respondents reporting a year-over-year increase in sales during the fourth quarter. That is the largest percentage of respondents whose sales were up since the third quarter of 2008. Better yet, there’s solid evidence promotional products remain a great value among all advertising mediums. Spending on ad specialties for full-year 2009 is about double what marketers spent on radio advertising, about 26% larger than Internet advertising, and nearly four times greater than outdoor ads. Click here to read the press release. The general consensus from distributors is that it’s time to seize the momentum we do have, increase marketing and grab market share. The pendulum will swing back — and we need to be ready when it does. I’d love to know what strategies you’ve employed in recent months and how you’re positioning your company for the future so post a comment or email me here. I’m also on Twitter, LinkedIn and YouTube.
Tuesday
February 16, 2010 Educating End-Buyers Through Media: CBS TVFiled under: Media Coverage, Members, News About ASI The media stampede continues, with Orlando’s CBS station featuring five promotional products for Valentine’s Day from ASI member companies.
Click here to watch the video. No matter what the calendar says, you can make every day Valentine’s Day with products like Sexy Water, the Bling Travel Mug, the Romantic Evening Intimacy Kit, a Contrast Color Thong, Chocolate Lips, Tangle Love Keychain, Little Black Book of Sexy Secrets, Sex on the Beach Kit, a Red Heart USB Drive and the Silhouette Girl Flashing Pin. For photos of each product and more purchasing information on ASICentral, click here. I’d love to know what products you enjoyed most, so post a comment or email me here. I’m also on Twitter, LinkedIn and YouTube.
Monday
February 15, 2010 Blog On! Stitches’ Social Media Site Scores Major RecognitionFiled under: Community, News About ASI These days, just about anyone can blog – but it’s pretty hard to create a social media site that serves a real purpose and actually gets people communicating. For these reasons – and many more – Stitches magazine’s social media site was recently nominated for a 2010 Jesse H. Neal Award. The magazine’s editor and social media master is Nicole Rollender, who created the site in 2008. The Neal Awards, established in 1955 to recognize and reward editorial excellence in business media publications, are considered the “Pulitzer Prize of the business media.” Stitches is nominated in the category of “Best editorial use of social media.” I’m sure the Stitches entry stood out because it’s clear Nicole is a hands-on editor, posting blog entries, videos and other content that helps readers and routinely sending email blasts alerting them to new features and chat times. She’s a familiar presence on the site, chatting with readers at all hours. Celebrating its 23rd year, Stitches magazine is the voice and vision of the embroidery industry. The site Nicole created for readers has a growing audience of 1,500 members, including embroiderers, screen printers, machine technicians, distributors, suppliers, digitizers and apparel designers. The ultimate goal, she says, is an online hub where Stitches readers can connect in real time and feel like they’re part of a community. Members can reach out, network, post questions and photos and discover new trends and fresh ideas that can help them grow their business. To check it out, sign in at www.stitchesmagsocialsite.com. And let me know how social networking is helping your business by posting a comment or emailing me here. Of course, I’m also on Twitter, LinkedIn and YouTube.
Friday
February 5, 2010 Top 10 Sexiest Valentine’s Day Promotional ProductsFiled under: Industry Initiatives, News About ASI, Research, Using Ad Specialties What gifts hit your list on Valentine’s Day? Boxed candy and flowers? This year, think outside the box and check out ASI’s very first list of Top 10 Valentine’s Day Promotional Products. The romantic giveaways and business gifts on the list are sure to start a conversation – or a very interesting evening. There’s no doubt romance is a smokin’ hot market – a search for romantic giveaways in ASI’s database reveals marketers are in mad pursuit of everything from logoed condom packs to chocolate lips to help them launch Valentine’s-themed campaigns. There’s more – much, much more. The top 10 sexiest Valentine’s Day promo products for 2010 are:
For a video featuring some of the products, click here. For photos of each product and for more information about how to purchase, click here. Let me know what themed items you sell the most by posting a comment or emailing me here. Of course, I’m also on Twitter, LinkedIn and YouTube. And have a very happy Valentine’s Day!
Thursday
February 4, 2010 ASI Hits the Headlines in DallasFiled under: ASI Shows, Media Coverage, News About ASI Our Dallas trade show – which ended Wednesday after attracting 3,300 distributors – was big news in the Lone Star State this week. The Dallas Morning News, a Pulitzer Prize winning paper with a circulation of 368,000, interviewed a number of exhibitors on the show floor and gave a terrific overview of our industry. Read the full story here. FOX4, in a four-minute segment called “Everyone loves freebies!” showcased a number of hot products in its live in-studio shoot. And NBC5 also covered the show. Click here to watch all the clips. We’re happy to report that even during a tough recession, show attendance was off just 3% from last year and up slightly from 2008. Trends show the number of firms attending is about the same as last year, but each firm is bringing slightly fewer people, reflecting downsizing from a soft economy. To read the press release, click here. In addition to education, networking and entertainment, attendees were energized in an interactive keynote presentation by ASI’s senior VP, Dale Denham, who advised attendees on how to build their brand and their business with social networking. In a very lively keynote, which I discuss in another Tim’s Take, Dale cut through the hype and showed people practical ways to benefit from social networking. The two key take-aways every salesperson can benefit from are:
Dale says the three sites distributors should pay attention to are:
Everyone loved Dale’s reference to Twitter as a place for narcissistic stalkers with ADHD, but also loved how valuable it is to salespeople. For more great tips, find Dale on LinkedIn at www.linkedin.com/in/daledenham or on Twitter, at www.twitter.com/daledenham. You can also join him at the New York show May 4-6, where he’ll once again be the keynote speaker and share incredible info on how suppliers and distributors can make money with social networking. Let me know how social networking is helping your business by posting a comment or emailing me here. Of course, I’m also on Twitter, LinkedIn and YouTube. |
