Originally published Sep 28, 2018. Updated July 26, 2018.
Need a highly profitable marketing strategy with long-term impact? Try selling branded merchandise. It boosts revenue and brand recognition. The key is a great strategy. Use these five tips to create a merchandising plan that gets results:
Define Your Audience
When you create a merchandising plan, you need to clearly define your audience. Go beyond needs. What does your customer want to feel when buying a product? How does this feeling impact their daily life? Use industry information, interviews, and surveys to inform your strategy. Collect as much data as possible. This information is the foundation of your merchandising plan. Without it, any strategy is ineffective.
Create Clear Goals
Define what success looks like for your organization. To accomplish this, identify short-term and long-term goals and how a strong merchandising plan would further these goals. Does your nonprofit need additional revenue to expand services? Does your business want to expand its customer base with a membership program? The answers to these questions will guide your strategy. Also, monitor your progress. Use benchmarks and relevant metrics. This ensures you are on the right track.
Maintain Consistent Branding
From product selection to design, make your brand identity apparent. If your mission is sustainability, choose eco-friendly products. If children are the target market, use fun, colorful products. Be uniformed with art and messaging. Let’s say you are a nonprofit that hosts a variety of events for underserved communities. Using art that highlights your afterschool program at a health fair confuses your target market.
Market Branded Merchandise
I know what you’re thinking. “Isn’t that the point of branded merchandise? To market my organization?” However, this only works if people are aware of your products. Promote through your favorite marketing channels. Present product features that benefit your target market. Include photos and videos of items to boost interest. Make your audience obsessed with your merchandise.
Presentation Is Key
Cool items are not enough. Excellent lighting, cohesive displays, and great color coordination play a huge role in promoting products. The goal is to create an engaging experience for the customer. For additional tips, read 5 Most Important Elements of Visual Merchandising.
Merchandising programs are great for any organization. When executed effectively, the benefits are virtually endless. Do not miss out on a great opportunity to give your brand the boost it deserves.
Ready to create a merchandising plan? Contact Choice Premiums at 478-741-8888 or firstname.lastname@example.org.