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Make your Business PROSPER-Branded Merchandise Strategy Tips

business prosper

The internet is saturated with branded merchandise. Here are Strategy Tips to Make your Business PROSPER. Whether you’re browsing Instagram, Pinterest or even Google. There are plenty of images and ideas that will have you running back to your desk to start sketching out ideas for your own merch. But getting started on this venture doesn’t come without its challenges and complications.

There are many factors to consider before diving head first into a branded-merch strategy. Especially if you’re still in the early stages of establishing your business. Indeed, while not all brands can afford to invest in merch at this stage (unless you have some serious savings), the benefits it can bring to your business in the long run make it worth considering.

4 Things to Consider Before Developing a Branded Merchandise Strategy to make your business prosper

Before jumping straight into a branded merchandise strategy, it’s important to consider the following:

Business goals:
What do you hope to achieve with a merchandise strategy?
Do you want to boost engagement with your audience?
Are you looking to acquire new customers?
Or are you after a combination of both?

Whatever your reason for investing in a merchandise strategy, it’s crucial to understand what you hope it will achieve for your business.

Brand awareness:
Do you want to increase brand awareness with your merchandise?
If so, you’ll want to consider the message your products will communicate.

Ideally, your product should communicate what your brand stands for in a visual, memorable way.

Sales strategy:
Will your merchandise be sold in-store or online?
Is your goal to drive customers to your website?
Or do you want to increase footfall at your physical location?

Understanding how you want your merchandise to contribute to sales will help you decide what kinds of products you should be developing for your audience.

BUDGET:
How much are you willing to invest in merchandise?
The budget you’re willing to invest will significantly impact what you can offer your customers in terms of design, type of product and quantity.

Define your target audience

Before you start designing any merchandise, you need to understand who your target audience is. This will help determine what type of product you should be creating, as well as the price and quality. Depending on the type of business you have, you should have a rough idea of the type of person who would purchase your products.

Are they male or female?
What age group are they?
What are their interests?
You can use this information to help inform your decision on what type of product to create.

For example, if you want to appeal to a younger audience, you might want to create a t-shirt with a bright, colourful design that is appealing to the younger generation. If you want to appeal to an older audience, you might want to consider creating a coffee mug with a more sophisticated design as opposed to a t-shirt.

Estimate profitability of merch

Before you dive head first into creating a merchandise strategy, you need to understand how the profitability of merch works using the standard profit margin formula

gross profit = sales price – the cost of goods

So, if you’re creating a tote bag and are deciding on the price, you need to consider the total cost of the materials, the labour involved in the production and the relevant taxes. Even something as simple as the type of tote bag you decide to design can have a significant impact on the final cost. For example, a regular tote bag versus a cotton blend will have a different pricing structure.

Decide on the channel(s)

This is something you will need to decide on before you decide on what type of product to create. If you’re planning on selling your merchandise in-store, you may want to consider investing in a screen printing machine for on-demand designs for caps, hoodies, t-shirts etc. This is a great option if you’re after a quick and efficient way to produce merchandise for your store. If you’re planning on selling your products online, you may want to consider investing in a digital printing machine.

Digital printing is a relatively inexpensive method of producing branded t-shirts, tote bags, coffee mugs, etc. While it does have its benefits, it is important to keep in mind that the quality is not as high as screen printing and has a higher start-up cost. This is something to take into account when deciding on a type of product to create for your audience.

business prosper

Define your branding and product requirements

This is where the fun begins….

Once you’ve got a clear understanding of what your brand stands for, the target audience you’re appealing to and you’ve estimated the profitability of merch, it’s time to start brainstorming your designs. This is where you can really get creative. Whether it’s creating a vintage-inspired briefcase for guys or a stylish water bottle for ladies. It’s your chance to get creative and have some fun.

While you can certainly outsource the design process, we highly recommend investing time in creating your own design concepts. This is to help communicate your brand’s personality. Not only will it be a fun task to undertake, but it will also provide valuable experience when it comes to negotiating with potential manufacturers.

Takeaway

Branded merchandise is a great way to increase brand awareness and drive customers to your website or store.

Before you dive head first into creating a merchandise strategy, it’s essential to consider the following: business goals, brand awareness, sales strategy, and budget. Once you’ve clearly understood these factors, you can start brainstorming designs for your products.

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The Ultimate Guide for Customized Tote Bags

Whether you’re running errands or heading to the beach, tote bags are a great accessory for any occasion. They’re also a fantastic business venture that can help you stand out from the crowd and drive sales for your brand.

Tote bags are highly versatile marketing tools because they’re useful and accessible to most people. You can carry them almost anywhere. Use them to store things like groceries or workout gear and give them away as gifts or promotional items.

This blog is for you if you’re looking for original custom tote bag ideas that will enhance your company’s growth.

What is a tote bag?

A tote bag is a large bag that can either be carried by hand or over the shoulder. It can be made using a variety of materials, such as leather or fabric, and comes in many different colours and styles.

Tote bags are a staple item in most people’s wardrobes, and companies often use them as a marketing tool. Many tote bag manufacturers allow you to personalize your tote bags with your logo, slogan or contact information. The name “tote bag” comes from the verb “to carry”, which means transporting something with your hands.

Tote bags are one of the most popular promotional items because they can be used for shopping, transporting items and gifts and can even double as a laptop bag. They’re also a useful gift idea for people of all ages and interests.

Tote bags are great promotional items

Why are tote bags effective for small businesses?

Tote bags are a popular choice for business owners because they can be used for a variety of different tasks. Other than being useful, tote bags are also very affordable when compared to other types of bags and accessories. This makes them an excellent choice for businesses on a budget since they don’t cost too much to produce or purchase in bulk.

Tote bags can also be used for a variety of different occasions, making them a versatile accessory for all seasons. With a relatively long shelf life, tote bags are a worthwhile investment for your business. Also a great gift or promotional item for customers.

How to find the right tote bag manufacturer?

Finding the right tote bag manufacturer is the first step in starting your tote bag marketing campaign. You’ll want to consider a variety of different factors when choosing a manufacturer, such as bag type, colour options, price and lead times. You’ll also want to make sure they offer customization options so you can create a unique tote bag design for your business.

There are many tote bag manufacturers out there, so you’ll want to do research to find one that fits your budget and meets your needs. 

Tips for customising your tote bag designs

There are a few things you’ll want to consider when designing your tote bag.

The most important part is the design, which is the most noticeable aspect of your bag.
You’ll want to choose a design that matches your brand and is visible to your audience.
You can also add text to your design to include a slogan or important contact information.
Make sure you also choose the right colour and material for your bag to suit your design and text.
You’ll want to make sure your bag will last for a decent amount of time, and that it’s visible to your audience.

Considering all of these elements will ensure your new tote bag stands out from the competition. 

Final Thoughts

Tote bags are a great promotional item for any season or occasion and can be used throughout the year to promote your business at conventions and trade shows. They’re especially useful during the holidays when you can give them as gifts to customers or family members.

Tote bags make great gifts because they’re useful and can be used in daily life, making them a great way to get your brand out there and drive sales for your business. Now that you know what tote bags are and how they can help your business, it’s time to start designing!