How branded merchandise can help you increase revenue
Considered one of the most integral parts to any marketing process, promotional products are pieces of merchandise that are branded with company details like titles, logos, phone numbers, website URLs and any other information or artwork you should desire. They can be standard products like bags, mugs and pens to more eccentric items like power banks, teddy bears and sporks. They can be used for many different things that can increase your company revenue and we are going to cover some of the methods for you to try out.
Give out as a free item to prospects
Trying to convert a prospect to a full customer can sometimes be tricky. That’s why a lot of businesses brand products and distribute them for prospects and use so that whenever they use the item they see the branding. This is perhaps the most prevalent use and it often used when going to trade shows or events to give to people who inquire about your service. Studies have shown that 79% of people would likely do business after receiving a promotional product and 56% said their impression of the company improved after receiving a printed gift. It makes prospects more likely to purchase now and in the future.
Freebie sold and an extra alongside product
Free is the word that gets everybody excited. No matter who you are anyone gets jolly when that word is thrown in the mix. That is why a lot of companies offer a free item if you buy a certain product with them. It’s a great incentive to get clients to purchase with you instead of your competitors as they will see that purchasing with you gets them a bonus item as well. Whether you are trying to get sales from another competitor or just trying to promote a new product, knowing that they are getting something for free increases the perceived value of the whole order.
As a gift for your favourite customers
Clients that spend a lot of money with your brand are some of the people you want to keep very sweet. You want them to be very happy with your company as they have shown that they are willing to spend with you and you don’t want to lose that source of income. That’s why giving out some executive promotional merchandise to your top consumers is a great idea as it makes them appreciate your establishment more and will feel a sense of brand loyalty. Plus you will get the benefits of them seeing your brand on a regular basis.
Selling promotional merchandise on its own
The high quality of promotional merchandise leads a lot of businesses to sell them as another item in the shop or on the site. Definitely a more direct method of increasing revenue with printed merchandise as it isn’t an incentive or a gift to influence them to purchase but is the actual item they do purchase. There are three main reasons that this is successful use of promotional items. Convenience and usefulness can be a driving factor as well as the print being unique and standing it out from products from the same variety. For example, selling your promotional bag in your shop may entice people to buy it alongside the rest of the items they buy as it is a convenient and useful tool that they can use to carry everything else. If you are selling it online, the appeal would be the use of the bag for shopping trips as well as the unique print that appeals to them.
Here are just a few ways that these kinds of products can help you increase your revenue. The great thing about them is that no matter what kind of business you run you can find a way to use them in your business strategy. Whether in your marketing, product catalogue or just in the office, there is a use for every business.