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Numerous companies may be interested in purchasing customized promotional items or branded gifts for their customers, staff, or clients for various reasons. These reasons could include improving relationships, enhancing brand awareness, or encouraging employee morale as part of their marketing tactics. Using corporate swag in this way can greatly benefit your business. It is essential to have a well-planned marketing strategy to achieve such outcomes.
Many companies with a significant budget for logo merchandise often face challenges in managing the process effectively. These challenges may involve inventory management, shipping, distribution, and organizing products while keeping track of departmental spending. It can be a daunting and time-consuming task to monitor orders as they are sent to various locations. Maintaining an inventory of branded items is a task that demands considerable logistical effort.
Fortunately, it is possible to get the benefit of personalized promotional merchandise while avoiding the typical problems that come with the process. This can be achieved by utilizing an online store specifically designed for your company's branded items. Often, these are called swag stores.
In this blog, we will explore five of the many benefits of setting up a company store for your business to distribute brand swag.
Improved Brand Recognition And Loyalty
Studies show that it takes seeing five to seven impressions of a brand before the consumer remembers the brand. Therefore, it is important that your branding elements are consistent so that the consumer can connect the dots. In fact, a consistent brand presentation can increase revenue by up to 33%.
Utilizing an online company portal for your brand enables you to complete all aspects of specifications, designs, and optimizations in a single platform. This guarantees uniformity of color scheme across all promotional items and branding endeavors, while also ensuring that all products are stamped with your brand logo.
Setting up a company store allows you to showcase your brand and swag for business in a professional manner, which can increase brand recognition and build loyalty among your customers.
Lower Marketing Costs
Providing company swag can serve as an effective and affordable marketing tactic. In fact, a study by ASI Central found that 85% of people who are given business gifts will remember the advertiser that gave it to them.
Whether your company participates in trade shows, sponsors events, or supports causes, offering promotional items is an excellent method to increase brand awareness among attendees. As people generally enjoy receiving free merchandise, distributing company giveaways can help spread your brand name. Additionally, utilizing a company store can help reduce expenses while still offering the best swag items that are high quality.
Keeping marketing costs low is not simply a matter of saving money. Another important part of keeping costs low is increasing the return on investment for every dollar you spend. Formstack found that contests, like giving away a custom swag bag, have a conversion rate of 35%. Considering the conversion rate of cold calls is 2%, and the conversion rate of cold emails is 1%, that 35x on return could make a huge difference in your bottom line.
Streamlined Ordering Process
With a company store, you can centralize your ordering process and make it easier for employees or customers to purchase branded merchandise. This can save time and improve efficiency in your operations.
When selling and distributing marketing materials from a single location, inventory tracking and purchase management become simpler. The products will be uniform and conform to specific requirements, leading to fewer quality variations. The need for importing, managing, and distributing inventory through multiple sites will decrease, reducing costs and improving efficiency and organization. Fewer employees will be required as well.
This can also save you money when many departments and locations can place one bulk order for a particular item for employee recognition or company uniforms, for example. This drives the price of the individual items down, as well as the shipping costs.
Customizable Products
According to a survey, a significant number of B2B executives, that is, 73%, believe that customers nowadays demand more personalized services than before. Although several B2B firms fail to provide personalized services to their clients, prioritizing personalization can prove to be advantageous. In general, B2B enterprises that concentrate on personalization can experience conversion rates that are up to 25% higher and revenue growth of 15%.
A company store allows you to offer customized products that are tailored to your specific needs. This can include items such as branded apparel, promotional products, and other merchandise that is unique to your business.
Better Control Over Brand Identity
It's crucial to understand that branding plays a significant role in generating revenue, and a noteworthy statistic to keep in mind is that consistent branding can lead to an increase in revenue. Forbes reports that presenting your brand consistently across all platforms can help establish a cohesive message and promote brand identity, which can potentially boost revenue by as much as 23%.
With a company store, you have greater control over your brand identity and can ensure that your logo, colors, and messaging are consistent across all products and channels. This can help to strengthen your brand and improve customer recognition and loyalty.
In conclusion, setting up a company store offers various benefits for your business. It can help to increase brand recognition and loyalty, generate additional revenue, streamline the ordering process, offer customizable products, and provide better control over your brand identity. By leveraging these advantages, you can improve your operations, increase profits, and enhance your brand's reputation among customers and employees alike.
