There’s a reason why branded merchandise is so popular in the modern day. It’s because it works. People love branded products and are more than happy to spend money on them. In an alternate universe, perhaps with less marketing-savvy people, this wouldn’t be the case.
But it is, and that means you need to take advantage of it. At its core, branded merchandise means any product with your company logo on it. That could be anything from T-shirts to mugs, but in this article, we will focus on creating that kind of merchandise that can be resold – whether online or at trade shows and events – and drive revenue for your business in the process.
Once you start thinking about designing merch as part of your business strategy, there are some important things you need to know before getting started:
Know Your Audience
The first step to designing any branded merchandise is to know your audience. If you don’t already have a customer base, you won’t have anyone to sell your merchandise to. Remember, branded merchandise isn’t just for shoring up your company’s image – it’s also a way to make money.
The more you know about the people who are likely to buy your products, the easier it will be to create something they’ll want to purchase. Start by identifying your audience’s age range, gender, and income level. If you know anything about the people who are likely to use your products, you’ll be able to create merchandise that appeals to them.
Identify Your Desired Profit Margin
Before you can decide what kind of branded merchandise companies you’ll go to, you need to know how much you want to make from it. Once again, branded merchandise isn’t just a nice-to-have marketing ploy – it’s a way to increase your bottom line.
So if you don’t have some kind of profit margin in mind, it can be easy to lose sight of the point of all this. Once you’ve factored in all your manufacturing, materials, and shipping costs, you can start looking at different kinds of products and deciding which ones will help you hit your profit margin.
Most people recommend that you aim for a profit margin of at least 40% when creating branded merchandise. But the higher the margin, the more money you’re likely to make from it.
Find A Trustworthy Manufacturer
Before you decide which kinds of products to create, you need to find a manufacturer that you trust. A manufacturer is a company that will create your branded merchandise for you. You’ll also likely use them to create your logo designs.
When you’re just starting, it’s tempting to use whomever you can find to get the process started. But don’t fall into that trap. You want to do this right the first time, so you don’t have to go through the process of finding a new manufacturer later on.
When you first begin researching manufacturers, you’ll notice that there are plenty of options out there, and it can be difficult to know where to start. One of the easiest ways to find a good manufacturer is to ask other business owners who are in a similar position to you what they recommend.
