How to get the most out of your company merchandise budget?
This is one of the most recurring questions we get at Merchandise Essentials. Not exactly like this, but in general. How can I get the most out of my merchandise budget? Because there are so many things you have to take into account. To give you an accurate answer to this question, there are a couple of questions we need to ask:
- What’s the goal of your merchandise?
- What’s the occasion of your merchandise?
- What products would you like?
- Do you know the sizes of your target audience
- Do you need a lot of cheaper products or a few more valuable items
- Is this a 1 time event or do you need reorders
- Are you giving them away or selling them
Everything starts with the goal you want to reach with your merchandise purchase. Do you want to create more visibility on an event? Do you want to reward your high performing team? Or have a nice memory of your next team building. There are a lot of reasons why people use merchandise. To spend your budget wisely you need to know your goals.
Timing is everything, even in merchandise. Is your project in summer? Try t-shirts. If it’s winter you should try beanies or socks? Does your audience have the option to try the t-shirts or sweaters on? If not, sizing can become a problem and one-size-fits-all items would be a smarter pick.
3 What products do you like?
There are a lot of products you can customize, so you need to know what style you like. Do you like high end knitted shirts with a subtle embroidery for your sales team? Or is your company culture more brightly colored casual hoodies? You need to know what products match your companies filosophy.
4 What sizes to order?
Most common problems in merchandise are about sizing. What sizes do i need to order? These are the best solutions:
1. Fitting afternoon
We can provide you with a sizing pack and all team members can try the merchandise on and write down their preferred size. This is the most accurate method, but also quite time consuming.
2. Size range
Because of our extended experience, we know a thing or two about size ranges. We can suggest you the most common size range (xs-s-m-l-xl) based on your target audience. This means that based on date from previous orders, we can estimate a size range that suits your occasion.
5 Quantity vs impact
You’ve read this correctly: it’s not quantity vs quality. You should always go for quality. But sometimes your goal needs a different approach. Do you want to reward 150 people with a pair of socks or 25 people with a unique premium hoodie. You have to decide how volume works in your equation.
6 Will you reorder?
It’s important that you know your future plans. Because depending if you’ll reorder or not, other techniques or solutions can be presented. Embroidery has a noticeable setup cost, but for reorders the setup cost disappears. This means cheaper reorders. For other pieces, like socks, the MOQ is 100 pieces, so you can’t just order 5 extra pairs. You have to keep this in mind if you want to reorder some items later on.
7 Giveaway vs selling
There is a very important difference, because some products have great retail margins and others don’t. For a giveaway accessories like beanies or caps are perfect, but if you’re looking to sell your merchandise, it’s better to go for textiles like sweaters & t-shirts.
All these points matter if you’re looking to spend €1000 in merchandise. It’s not just picking the cheapest t-shirt and printing your logo on it. If you know the what, where & when of your merchandise campaign, your results will be exponential better. But there is still the question: what is the most efficient way to spend €1000 in merchandise?
8 My personal merchandise pick
This is my personal pick to spend €1000 in company merchandise:
- 100 pairs of custom socks with custom cardboards: €650
- 10 beanies with embroidery: €115
- 25 t-shirts (5S 8M 8L 4XL) with a cool print: €222,50
=> € 12,50 left for shipping or some flowers for my mother 😉
Why this pick:
100 pairs of socks to get volume, reward my clients or to give to a lead after a meeting.
10 beanies because it’s always visible and they are one size fits all
25 t-shirts to give to the team and family/friends. As true ambassadors they’ll wear it proudly and generate attention for my company.
Looking to order your own merchandise?
Let our account managers help you get the most bang for your buck. Depending on the company goals you have, they will help you get the most out of your merchandise order. Ask for our other timesaving (and result increasing) services like our design service, e-commerce platform or logistics department.