What’s a good way to expand your product or service line? Consider simply asking your customers what they want to see.
In this article on Inc.com,
Tom Szaky, founder of TerraCycle, based in Trenton, N.J., explains how
this strategy helped him sell more to OfficeMax, one of his biggest
customers.
Though OfficeMax was already carrying seven of
TerraCycle’s eco-friendly office products, the company wanted to expand
that relationship. But TerraCycle was fairly new to the office products
industry (they started out making plant food). So instead of just
pitching OfficeMax new product ideas, they approached OfficeMax’s
category managers and merchandising experts and asked them what
products they needed.
The OfficeMax executives were happy to
contribute. Based on their requests, TerraCycle came up with new
products that included tree-free paper, biodegradable plastic pens, and
pencils made from old newspapers.
This approach could work for
any company, no matter its size. Approach the customers you already
have good relationships with and ask them what types of products or
services they’d like to see.
Of course, you need to make sure
that providing the new product or service is cost-effective. Do enough
of your customers — or does one big customer — want it enough to make
it worthwhile?
If you decide the product or service is
something you can’t provide, don’t drop the ball. Is there a company
you know that can handle it? This gives you an opportunity to truly
build relationships by referring the customer to someone you trust. The
customer will be impressed, and the colleague will appreciate the
referral, and be more likely to refer you to others as well.
Has a customer ever given you an idea that launched a new product line?
Rieva Lesonsky
