Merchandise management has proved to be one of the most valuable means to establish a connect with the clients, increase brand recognition and boost the sales of your product or services.
While most multinational companies and large corporations are well known for giving away free gifts and toys to sustain their brand name in the market and their customer’s minds. The SMEs are also efficiently trying to increase their brand loyalty and ROI with it.
Today, businesses and brands are continually trying to achieve specific objectives, such as encouraging people to recall their brand name and the services or products that they offer with customised merchandises.
Let’s have a look at what can be done to effectively market a brand with branded merchandises:
For many, merchandising might seem like an unnecessary cost for the business. Still, if you set particular objectives along with ideal promotional products for your target market, it can assist in generating a valuable return on investment.
Merchandise management can prove to be thoughtful and might be useful in developing loyalty between a customer and the brand.
A merchandise or promotional product with clear objectives will communicate a message about your business. Supposedly, if you’re in the holiday sector, you can come up with something creative and fun. If you’re in financial services, you can portray a sense of reliability with the products you choose for branded promotions.
Production and Cost
If you have selected a product for promotional purposes, you need an accredited supplier to produce it with the desired quality. It’s imperative to choose the right supplier who will ask what return on investment (ROI) you wish from your promotional products and what message must be communicated with it.
An ideal promotional product will have an interest in the communication that a product must-have for marketing purposes. It would be best if you kept in mind that the ultimate goal of promotional merchandising is to value your loyal customers and employees. Therefore, it’s equally important to choose the right promotional partner that can help you in creating the right product at the best possible price.
Distribution: the final step
So, now you have figured out the type of product you’re going to brand for your business, and also finalised a supplier for producing it.
The next and final step is to distribute the product.
You must note one thing, if the merchandise you’re going to give as freebies are expensive, the campaign must be more targeted. If you’re investing a lot of money on these fancy freebies, then we would recommend you to send it to a small group of people first and then track the results. What’s their feedback! Doing this will help you understand if or not it’ll be worth it to invest in such expensive merchandises for your business.
Further, for average priced merchandises, you can consider handing out your promotional products at conferences, networking events, exhibitions, and meetings. You can also plan promotional gifts for specific festivals such as Easter day, Christmas or New Years.
Distributing your freebies face to face are highly influential and can also help in deciding which contacts are worth giving it to as genuine business prospects.
Don’t Miss out your remote associates.
While distributing merchandises face to face is a good option, the ones who follow you on social media or work with/for you from remote areas must not be missed.
You can post gifts to all your valued customers who are listed on your database. If you’re dealing with many clients, you can keep a pile of small merchandises at your reception, and let them pick it up.
Further, if a customer has purchased some service or product from you, then you can include the promotional product with the packaging as free giveaways. Especially in modern times, the businesses that operate online are doing a little extra to encourage repeat in sales and get word of mouth recommendations.
These were just a few recommendations on how to deal with merchandise management for your business. Hope you liked it!