Hotline Banner
Exclusive Member Newsletter
August 5,, 2015


Sales and finance -- two critical topics for success and both covered in this week's "Hotline." Along with thoughts on NFC and collections, you'll find this week's newsletter chock-full of information!

Four Essential Sales Skills


Most businesses understand that the old, high-pressure sales tactics of the past are no longer useful.  Today's customers want solutions from providers who actually understand the business environment - and who are dedicated to helping their clients succeed.  That means you might have to update your sales team's skills to deliver what your customers want.  According to Donna Vieira of
Interlink One there are four essential sales skills your reps need to brush up on.

 

1. Conversations and Relationship Building - In order to be successful these days, you need to build trust with your customers - and that starts with building meaningful business relationships with them.  Your sale team needs to know their industry inside and out, as well as your audience's unique business world.  Having this knowledge will enable them to ask intelligent questions to learn what your audience really wants and needs from your business, and offer solutions to help them succeed.  You can also build these relationships by using your industry knowledge to educate your customers and prospects.  By offering them new ideas and perspective on their business challenges, you'll show them the value of doing business with you. 


2. Social Media - 
Maybe it goes without saying, but it's an important point: social media is an essential tool for any modern sales professional.  Just about everyone is on at least one social network.  Many people use social media to get suggestions and reviews for products and services before buying.  Your audience may check out your social media profiles to see who you interact with and they may tap their networks for more information about you.  Your sales team needs to understand how people use social media, and which social platforms your audience is most likely to frequent.  They also need to know the basics of these networks, so that they can use them to learn what your audience is looking for, and to help build those all-important relationships.


3. Collaboration Vs. Selling - Another crucial skill for modern sales reps is the ability to collaborate with our audience to come up with effective solutions to their specific needs.  Including buyers in the planning process will ensure that they're more engaged with the solution and more satisfied with a successful outcome.  This translates to a stronger relationship with your business, and a higher likelihood of future purchases.

4. Adaptability - While not as concrete as the other skills on this list, adaptability is an important trait for your sales team.  Things change fast these days, whether it's a new social network, a new business challenge, or new technology that changes the way businesses interact with your organization.  Your sales team needs to be flexible enough to adapt quickly to these changes and adjust their approach to meet changing needs.

With these sales skills in your team's toolbox, you'll be well on your way to selling more solutions and becoming more indispensable to your customers and prospects.


 

Who Is Your Customer?

 

In the world of visual communications (which includes print), it's not uncommon for agents to place orders on the behalf of a client.  We sometimes call them brokers, or print management firms, or advertising agencies.  What happens when the bill goes un-collected?  Who do you pursue, especially if there is no formal credit application?  Is the person you contracted with an "agent" and insulated from personal liability? 

 

To learn more about some of the "sticky points" of this type of transaction, read more in the July issue of the Print Industry Credit Bureau newsletter.  


 

Ink Jet.  Ready For Prime Time?


 

As the technology is beginning to prove viable in the commercial print space, primarily because of quality enhancements, more and more firms are exploring the potential of ink jet presses. Some look at the technology as opening doors to new business while others see it as a way to reduce costs.

 

Conventional thinking would suggest that firms must analyze costs prior to making the decision.  While that sounds like obvious advice, it's really not the first question that should be asked according to PIA Southern California's Bob Lindgren

 

According to Lindgren, the analysis should begin with identifying the work that will be produced on the new press.  Are we looking at short run color, transactional B & W, variable data or a mix of all three?  What comes next is a realistic projection of the volume of work and the price it would command, remembering that this is an exercise in value identification, not cost accounting. Variable data or specialized short run color creates new marketing power for the client, and given the capital outlay involved, pricing should be based on value - not costs.

 

Once we have a reasonable revenue projection, we can subtract the cost of paper, direct labor, ink and consumables to identify contribution to overhead.  When we know this, we can see if the capital cost is justified for which discounted cash flow analysis is useful.  Lindgren suggests a good rule of thumb is that the capital cost should not be more than three times the annual contribution to overhead.

 

The second scenario is that the ink jet press is a replacement for an offset press doing short run work or a toner based system doing variable data.  In this case, Lindgren argues the revenue analysis is unnecessary as there is no reason to think that revenue will change because of using different hardware to produce the same work.  In this instance cost savings need to be identified.  These might include reduced paper costs in moving from offset because of the elimination of make-ready spoilage, or supply costs when moving from toner to ink jet.  There may be wage cost reductions as well, but careful consideration has to be given to the question of whether they are realizable.

 

For example, if the work can be handled in two hours less per day, the same number of people are on the payroll and no savings has been realized.  Because these cost savings are likely to be modest, they will not usually justify a significant capital investment.  Lindgren maintains that if the business motivation in moving from offset to ink jet is to justify charging less, a better solution is to charge less in the first place. 


 

Is Your Workplace Best in Class?


Member companies across the country consistently rank recruiting and retaining qualified employees as one of their key challenges. Although the problem may seem daunting the answer is really very simple - maintain a successful workforce by providing them a superior work environment.
 

While all employees have different values when it comes to what they want in a work environment, there is quite a bit of common ground. And, it is not all centered around money. Workers today look for a variety of qualities in a workplace. Eight key human relations areas which employees look at when evaluating a current or prospective workplace are:
 

1. Management Practices

2. Work Environment

3. Training and Development Opportunities

4. Financial Security

5. Work-Life Balance

6. Recognition and Rewards

7. Health and Wellness Programs

8. Workplace Health and Safety
 

The PIA's Best Workplace in the Americas program evaluates your company's success in these eight human relations areas.  It's a great way to baseline your business and more importantly recognize the efforts you and your HR team have put into place.  If you'd like to be considered in the 2015 competition (entry deadline is September 30, 2015) visit this site

 

New White Paper


Near Field Communication, referred to as NFC, has created quite a buzz in the industry 
with recent magazine and television ads and the emergence of payment methods in the United States from Apple and Android. To help members understand NFC and the opportunities it presents, PIA has produced a free white paper. Visit www.printing.org/free (password required) or contact PIA MidAmerica at [email protected] 


 

Equipment


A DFW member company has a MEGA plate inspection stand with light and magnifier.  The stand is in good condition. Interested parties should contact Dan Millet at [email protected] or 214.741.3602.
 
In This Issue
Essential Sales Skills
Credit/Collection Tips
Adding Equipment
Best Workplace in America
NFC Communications White Paper
Equipment For Sale



August 19

Legislative Update

Kansas City

 

 September 10

Lean Focus Group

DFW

 

September 22

Kansas City Golf Tournament

Paradise Point

 

September 24

Coatings, Inks, Substrates

Webinar

 

September 29

Quick Takes Tuesday

Labor Law for Supervisors

 

September 30

Trish Witkowski

Foldfactory.com

Austin, TX

 

October 6

Workforce Development

Kansas City

 

October 8

Lean Focus Group

DFW

 

October 8

PrintFest!

Clampitt Creative Center

 

October 21

DFW Golf Tournament

Texas Star

 

 

Quick Links
PIA Nat'l Logo

Choose Print

Member
News 

Do you have news to share? Send your announcements, photos and press releases to  B.J. Irvin. Links to company blogs, e-newsletters, Pinterest boards, Instagram posts and other social - promotional media are welcome, too.