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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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5 Tips For Swag Success That Will Take Your Brand To The Next Level

What is swag?

As the world of marketing continues to evolve and new opportunities arise, so do the strategies and tactics used to drive brand awareness, loyalty and sales. Traditional advertising methods such as television ads or print ads are no longer as effective as they once were.

Today’s consumers are constantly connected, accessible and armed with high volume of information at their fingertips.

To make an impact in this digital age

-brands must find creative ways to stand out from the crowd,
-stand for something meaningful and
-be memorable enough to create a lasting impression on potential customers.

And that’s where Swag comes in!

In today’s fast-paced world, people tend to process information visually – especially when it comes to branding. From t-shirts with logos to branded water bottles or mugs.

Swag is one of the most cost-effective ways for companies to build brand recognition while also giving their customers something useful that they can use over and over again.

Understanding SWAG

When you search for “swag” on the internet, you’re likely to find information about wildlife. Fortunately, there’s no need to worry as we’re going to focus on the marketing meaning of the term.

Swag (or promotional merchandise) is any branded item or item of clothing that companies use to market their brand. While T-shirts are one of the most popular pieces of swag other popular items include tote bags, coffee mugs, water bottles, and pens with logos.

Swag is an extremely cost-effective way for brands to build brand awareness and loyalty among their customers. Companies looking to create or re-build their image often turn to branded merchandise as a way to get their name out there and make customers feel part of a special group or an insider community.

Understanding swag

Create Something People Actually Want To Use

We live in a throwaway culture. That means that many of the items people receive as swag are ending up in the trash can or at the bottom of a drawer.

Before you even think about designing any promotional merchandise you should spend some time understanding the needs and wants of your current customers.

What products do they rely on?
What tools do they use?
What items do they need to help them do their jobs or stay on top of their busy lives?
How can you help solve their problems with your product?

Once you have a better understanding of your current customers, you can finally start producing items they will appreciate and keep for many years to come.

Stick To A Limited Color Palette

Just as every good writer knows the power of choosing the right words and grouping them together in an effective sentence. Every good designer knows the power of choosing the right colours and grouping them in an effective palette. With every printed item you create, you’re influencing the brand perception of your company. So, you want to make sure you’re using colours that are appropriate for your target demographic and that you’re pairing them in a way that complements their appearance.

Most designers will tell you to keep your design to 2 or 3 colours, depending on the complexity of the design. This will not only keep your design looking clean and professional but it will also make your printed items easier and more cost-effective to produce.

To make this process easier on our clients, Juice Promotions has a fantastic in-house team of designers that can help make your brand stand out. Just let us know what you need!

Don’t Waste Money On Oversized Print Runs

One of the biggest mistakes companies make when ordering swag is going for an oversized print run. It’s easy to get caught up in the excitement of ordering your first batch of branded merchandise and ordering more than you need.

Luckily, Juice promotions offers a range of limited-run items for your company to select from. Before placing your order with us, consider the following questions:

How many people will be wearing the t-shirt at your next event?
How many people will be drinking from the coffee mug at the next trade show?
How many people will need a tote bag to carry their stuff around?
How many people will need a pen to write down their notes?

If you’re not planning to sell any of your branded items after the event or trade show, make sure you don’t order more than you need.

The Sky is the Limit!

From the moment you start working on designing your logo, think about how you can get it in front of your customers no matter where they are or what they’re doing. From the side of a coffee mug to the bottom of a water bottle or the body of a tote bag. Your logo has the power to be seen by countless customers each day. That’s why it’s so important to find creative ways to showcase your logo. The only limit is your imagination.

Follow us on Facebook and Instagram to get inspiration for your next SWAG collection!