Why we give away our products
1: What gets measured gets done.
Last Friday we looked at the benefits of radical transparency. At PCI, we are big believers in metrics. We believe in sharing financial and other operational information with our associates unless there is a business reason not to.
One of the key metric we report on each quarter is the number of gratis publications our associates have given away.
Yes. Each day we talk with 10,000 college and high school alumni and members of different associations. We want our associates to be on the lookout for opportunities to provide a publication free-of-charge.
In the last 12 months, our associates gave away 3,802 directories, the equivalent of $646,000 in revenue. This number is up from 2,478 in the prior 12 month period and 1,133 in the 12-month period before that. Like I said, what gets measured gets done.
2: Why do we encourage this practice?
There are four “winners” each time we provide a gratis directory. First, the constituent wins. Our team listens for people who love their institution but can’t afford to purchase at the present time. Perhaps they’ve lost their job. Perhaps there is a medical issue. Receiving the publication free-of-charge is a bright spot in their day.
Second, the university, high school, or service organization PCI serves win because we make a point to provide the gratis publication as a gift from the institution, i.e. “The University of Alabama would like you to have the publication free-of-charge.”
Third, PCI wins because this practice sends a message to our university, service organization, and high school clients that their alumni or membership are in good hands with our company.
Finally and most importantly, our associate wins. PCI is a sales organization. Being in sales isn’t always easy. We hear “no” eight or nine times for every “yes.” Speaking with 10,000 people every day, we regularly talk with people who are dealing with difficult circumstances. Instead of just listening, we get to take action. We get to do a “good thing.” Something that feels good.
3: Who makes the decision to provide a gratis publication? Our associate. They don’t have to ask permission or speak with their manager. It’s 100% their call. The positive feeling which results often stays with our associate for the rest of the day. Or the rest of the week. Some stories will stay with them forever.
More next week!
Reflection: Are there opportunities to do a “good thing” in my business or in my life? Who would benefit?
Action: Do it!