How to Generate a New Revenue Stream with Promotional Products
Did you know that promotional products can help you generate a new revenue stream? And we’re not talking about the usual touted indirect way of earning you money through brand awareness by attracting potential customers and cementing existing customer loyalty. There’s a way for your consumers to actually PAY you for your branded merchandise!
Selling branded merchandise is a tactic that has long been employed by big brands, such as Coca-Cola, Nando’s, Starbucks, and various coffee chains in the country. Doing so creates an emotional connection to your loyal customers while also helping you achieve marketing benefits.
Fortunately, smaller businesses can also get in on the action of selling custom merchandise. Here are ways how you can meet revenue targets with branded merchandise.
1. Make sure that your custom merchandise is relevant to your brand
When planning and designing your custom merchandise, it is important that you consider your brand values before anything else. If you’re a health brand, it wouldn’t make sense to sell candies or alcohol-related items. Your branded merchandise should be relevant to the values you promote and what you provide as a brand.
Take, for example, Coca-Cola. They sell drinkware and coolers as they are after all a beverage brand. Aside from these, they also have plushies of their Christmas bear and various collectibles that reflect their brand values and design.
2. Find out what people think of and expect from your brand
Another important thing to take into consideration is the customers. Since they are the ones you’re designing the products for, do in-depth market research to learn more about your brand: what is unique about it compared to competitors and what are the people saying about it? It involves competitor research and customer listening: two key components that can help you define your brand and what you can offer to the market.
3. Set your branded merchandise apart
If you expect people to buy your custom merchandise, it should be and look more special than your usual giveaways. You can’t just slap on a logo on items and expect it to fly off the shelves. This is the time to be creative with your design while still making sure that it still meets your branding guidelines.
One such example is Starbucks with its regular and limited-edition series of cups, tumblers, and other merchandise. They have their standard merchandise with their logo while they also have seasonal and limited-edition merchandise with more fun and eye-catching designs.
4. Make sure that the merchandise quality is topnotch
Since customers will be paying for these promotional products, it is your responsibility to ensure that the quality and printing will be top-notch. Selling subpar items will only backfire on your brand.
Partner with a trusted and established promotional products provider like Brandconnect for guaranteed premium quality items and printing at reasonable prices. We have been providing promo marketing solutions to major brands, small businesses, and not-for-profit organisations for more than two decades. Our team is made up of experienced account managers who have worked on many successful promotional marketing campaigns over the years.
Get a revenue boost with promotional products!
Generate extra profit from branded merchandise to help you improve your bottomline. For a free promotional marketing consultation, you can book a call with our account managers through this link. You can also call or email us for inquiries.