The Financial Market Pays Off
As mentioned earlier, it's good business to include marketing pieces with statements and notices. "Look for an outsourcing partner who can design and print the insert, as well as do the mail processing all out of one house for efficient one-stop shopping. It's a great way to increase the dollar amount of the sale and the value of the service the distributor provides," McGriff suggested.
He went on to say that distributors can qualify prospects for document processing services by asking questions regarding what they send out to customers and how they handle processing. The next step is to propose an internal cost study to isolate operating costs vs. outsourcing. McGriff explained that the first point of contact is usually a company's marketing wing, and eventually extends to Information Services, the CFO, the CIO, account managers and anyone else with the clout to commission cost studies as interest is developed.
"Banks, credit unions, leasing companies and lending institutions with equipment leases that are ready for renewal are good prospects," he added. "Likewise, companies with heavy investments in their own in-plant printing operations, those who are not focusing on future growth, and those who are not willing to look at the marketing benefits or who are hesitant to do an internal cost analysis are typically poor candidates."
So, whether it's an innovatively designed product offering greater security, a cost-saving mailing solution or a dynamic promotional piece, distributors who offer financial market customers something out of the ordinary can be in the money.
By Maggie DeWitt