How To Branch Out Into Selling Promotional Products
Are you a business selling office items and wanting to branch out into new revenue streams? Deep dive into the realm of promo products to improve your inventory, and reach your ROI goals!
Are you a business selling office products and wanting to branch out into new revenue streams? When it comes to business strategies, we all want to get the most bang for our buck. There’s a number of ways to improve your inventory and reach your ROI goals, and one of the most effective techniques in your industry is to add promotional products to your remit.
Sales are booming, so now is the perfect time to add promo items into your product offerings. As more businesses move away from traditional offices and opt for collaborative, flexible workspace, coworking space and hybrid options, the demand for branded items is rising. So, in a market you know well, with an already established customer base, it’s the perfect opportunity for your business to grow and succeed.
Look around your home or office and identify just how many promotional products you have. Promotional products are a powerful business strategy to be top of mind and reach a large audience adopted by brands all over the globe. Not only will they help you make a better return on investment and increase sales, but you will also have a world-wide customer base, and much more! Let’s deep dive into the realm of promo products and help you start to consider the launch of a brand-new revenue stream!
What Promotional Products Can Do for Your Business
There are many reasons as to why you should start selling promotional products, with some of the more prominent including:
- Repeat orders - For instance, if a consumer uses specific office products for an event, such as notepads and pens. They’re more likely to repeat those orders in the future if the process went smoothly and efficiently, helping to guarantee lifetime value from customers.
- An average 40% Gross Margin, generating plenty of revenue for distributors.
- An average order value of £450.
Ultimately, these motives all help to improve goals, budget and tactics and meet your business’s targets at a much faster rate.
Incentive Marketing
Promotional products are one of the most cost-effective ways to build brand recognition and trust with customers. A promotional gift creates a physical link with the business by creating connections and relationships with tangible products, which in turn has a striking effect on all recipients as they constantly see and use these items.
When businesses gain loyal and confident clients, they start referring new clients to the company. Hence, increasing the business clientele and solidifying their customer relations. This is popular amongst business owners to better retain customer loyalty and tailor benefits towards a clients’ dedication to their brand, and help them become their trusted single source supplier.
Selling promotional products provides a meaningful network of relations for business prosperity and dynamic growth, with the opportunity to tap into this ever-evolving market.
How You Can Utilise Promotional Products
There are many ways to sell promo products, and the reasons for orders throughout any given year are endless. The industry consists of thousands of products that can be personalised for any type of marketing campaign, retail location, conference, tradeshow, or promotional giveaway.
Whether it’s a meeting room that needs notepads, pens and glassware, or lanyards for a conference, a free festive giveaway or a summer festival, there are always orders waiting to be placed.
Where To Start?
If you’re looking to get started in promo, there’s an easy route to adding this function to your business. The AIM Smarter tech suite and membership does everything for you. Granting specialised access to our online product sourcing tool with access to over 40,000 products, top supplier discounts, pre-set-up eCommerce Websites, a comprehensive order management system and industry leading marketing materials all in one place. You’ll have access to anything you might need, along with our exceptional industry knowledge to help kickstart your promo journey.
Find out more at: https://aimsmarter.co.uk/membership/become-a-member
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