The U.S. Secret Service estimates that up to $200 million in counterfeit currency is currently in circulation, which means that roughly one in every 4,000 bills you receive could be fake. While this might sound like a small amount, the Secret Service may actually be underestimating the true figure. Factors such as the increasing sophistication of counterfeit operations, the difficulty of detecting high-quality fakes, and the fact that many counterfeit bills go undetected and remain in circulation could mean the actual amount of counterfeit currency is higher than reported. Now more than ever businesses that are accepting cash need to get protected at their registers.
The Client
As the original patent holder of the counterfeit detector pen, Dri Mark Products is a recognized leader in the world of loss prevention. Dri Mark provides cost-effective, easy-to-implement detection solutions at the point-of-purchase for retailers.
The Challenge
When a large national retailer sought to implement a counterfeit detection device at their registers, Dri Mark turned to the Highlands team for support in securing an order for the Flash Test over a competing product. Distribution to the large national retailer was managed by a national distributor, with whom Dri Mark already had an established relationship.
Challenges that Dri Mark faced in order to secure a nationwide roll out of the Flash Test included negotiating pricing, product warranties and implementing a pilot program in select stores. Along with answering additional extensive questions, the retailer team had to feel secure before moving forward on a large-scale operation rollout.
The Highlands Difference
In collaboration with Dri Mark, Highlands provided a strong marketing strategy along with a comprehensive sales plan to win over the retailer team.
The Dri Mark marketing team customized and created digital assets to educate the client and provide training support for retailer staff. Additional training resources for the Flash Test are accessible via a QR code printed on the device, which links to the manufacturer’s website for further assistance. Dri Mark also took part in the national distributor’s fall trade show, which not only strengthened the partnership between the two companies but also helped attract new potential customers.
The Results
Following a successful pilot program in select stores, the Flash Test is now being ordered for placement at every register in over 1,000 stores and has successfully beaten out its competitor. The strengthened partnership between the national distributor and Dri Mark has also paved the way for additional business opportunities, including further sales of detection devices and Dri Mark’s custom marker program.
Interested in trying a loss prevention solution at your business contact us today to get started!
