Check the Technique
Blame it on the economy. Chalk it up to desperation or poor ethics. No matter the reason, checks remain the payment type most vulnerable to fraud attacks.
To provide some perspective, more than 5,000 corporate practitioners participated in the 2012 AFP Payments Fraud and Control Survey. Approximately 85 percent of affected organizations reported that checks were targeted, while 14 percent of the organizations that were victims of at least one attempt of check fraud during 2011 suffered a financial loss.
According to Larry Willman, product manager – financial solutions for Dayton, Ohio-based Wilmer, there are precautions companies can take to protect themselves from nonsecure business checks. For example, Wilmer has had success with its Basic Laser Black Imprint Check Program. This particular promotion presents distributors with a line that is economically priced and secure. The program even provided one distributor with a new price point to compete in working with small businesses and in the farming community. Furthermore, the distributor's customers were able to rest easy with quality checks featuring a minimum of 10 security features.
Here, Willman shares the thought process behind Wilmer's promotional tool.
Print+Promo (P+P): Describe a promotion of yours that you consider one of Wilmer's best.
Larry Willman (LW): The introduction of our new Basic Laser Check Black Imprint Program provided our customers (i.e., distributors) three tiers of laser check programs from which to choose: basic/economically priced, one pantograph and four colors; standard/competitive priced, more options and a variety of perforation positions; and standard plus/flexible, [an] affordable program where you can create your own unique look.
P+P: What kind of items were featured in this promotion? What influenced that decision?
LW: [The promotion featured] Basic/Standard/Standard Plus Laser Checks. The need in the marketplace to provide our distributors with solutions for small businesses to large corporations, and to offer a variety of security and design levels to meet their customers' needs [influenced our decision].
P+P: How was this a profitable promotion for your company?
LW: This was a win-win for our distributors and for Wilmer. This promotion provided another price point and target market for the both of us to generate new business moving forward.
P+P: Did you encounter any challenges with this particular promotion? If so, how did you overcome them?
LW: [It was important to properly] inform our customer base. We did this through mailings, email, our website and collateral material.
P+P: Do you have any advice for distributors interested in selling to the financial market?
LW: Know your customers and protect them from fraud. There are companies today selling business checks with cheap material and very little security. Our business checks come with a minimum of 10 security features (basic).
P+P: Is there anything you would like to add?
LW: We are here to help. Wilmer has 11 sales representatives across the country to talk to you and to help you develop financial solutions to meet your customers' needs. Also, our customer service department is second to none and only a phone call away—not just a recording, but a real live person at the other end to listen and talk to.
For more information, visit www.4wilmer.com.
Have you ever thought about incorporating promotional products into your financial-themed campaigns? Here are some possibilities.
Crunching Numbers and Taking Names
The #1384 Pocket Partner from Hit Promotional Products is the perfect companion piece for any financial guru. It features an 8-digit solar calculator, sticky notes and six different colors of sticky flags.
For more information, visit www.hitpromo.net.
Bank on It
Logomark's Large Piggy Bank adds a modern twist to a classic style. Available in six translucent colors, the item has a coin slot and a removable base. It also includes a gift box.
For more information, visit www.logomark.com.