Need a highly profitable marketing strategy with long-term impact? Try selling branded merchandise. It boosts revenue and brand recognition. The key is great strategy. Here are five ways to develop a killer merchandising plan.
Define Your Audience
When defining your audience, be specific. Go beyond immediate 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 develop your analysis. Look for common threads and unique traits. Collect as much data as possible. This is the foundation of your merchandising plan. Without it, any strategy is ineffective.
Create Clear Goals
Define what success looks like for your organization. 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. Need inspiration? Check out the Cherry Blossom Festival’s award-winning collection.
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. Ready to create your own merchandising plan? Contact Choice Premiums at 478-741-8888 or email@example.com.