2019 is in the books, and hopefully you’ve done some strategizing for 2020. You’ve likely made sales projections, set revenue goals, and even assessed inventory. But have you reevaluated your promotional products yet?
If you go to trade shows regularly or just use promotional products to incentivize your employees, now is the time to ask yourself:
- Do you plan on using the same items as last year?
- Do you need to restock your current supply?
- Did your products contribute to new business?
- What new items will ensure an increased client base?
We'll assist you in answering these questions so you’ll have a good feel for how your business can advertise its products or services for the new year.
How to Take Inventory of Your Current Promotional Products
Begin by creating a master inventory list with every promotional product you have on hand and on order. Each item should be labeled and supported by an image, dimensions, short description, and price. Also, include reprint dates to track newer items when they are added to the mix.
If you ever have a question or concern regarding a promotional product, the master inventory list is the first place to look. You must keep your product inventory management updated to ensure you don’t under or over order.
Next, organize your on hand and on order products. "On hand" means in stock. You'll want to note the cost and quantity of each type of promotional product you have in your warehouse, closet, or other storage location. "On order" takes into account items that have been ordered but haven't arrived yet.
Reference these two categories when tracking products for customers. Up-to-date and accurate reporting will help control your marketing budget for the business. Your company will land softly in the inventory sweet spot.
It also will help to set alerts for when stock gets low so you can reorder or reprint. This way, you'll never be behind the eight ball. You’ll save money and prevent stress by avoiding backorders and expensive expedited shipping fees.
Order Promotional Products in Bulk
With a new year comes a new marketing budget. That may offer you the opportunity to order your promotional products in bulk. If pens, calendars, and mouse pads are your go-to marketing items, order additional quantities so you'll have them handy when you need them. You won't have to stress about reordering every few weeks.
Pricing is one of the other benefits of ordering in bulk. Most companies that sell promotional items, including Triple Crown Products, will reduce the rate of an item as more volume is ordered. For example, if you order 1-11 T-shirts, you’ll pay $9 an item, whereas if you purchase more than 140, you’ll pay $4 per item. Those savings can add up, especially if you know you will use the products and they won’t just take up space in your closet.
Upgrade your Promotional Game in 2020
Imagine the exposure your brand will get if you place your company name and logo on a T-shirt or sweatshirt. Add apparel items to your promotional repertoire and you're practically guaranteed a spike in consumer interest. Choose an article of clothing that someone might throw on for a trip to the grocery store or a child’s baseball game. No one can refuse a free T-shirt!
Handing out timely promotional products is also a good tactic. Before summer starts, you can promote your business with hats and sunglasses. For the winter, go with beanies and scarves. Don't forget about the holidays, either. Seasonal and holiday-specific promotions are sure to make the season special and memorable.
Triple Crown Products has all of your customized clothing and outerwear needs. We offer expert embroidery, screen printing, and heat pressing to ensure your logo is durable and precise across every product you order. Check out our vast product selection and see which ones stand out as your next great promotional idea. Our custom logo service comes with a 110% price match guarantee. We'll assist in getting your 2020 product planning off to an exciting start!