Filed under: Research
Hot off the press! The Stitches State of the Industry 2012 is now live, and in it you’ll find tons of info and success strategies to keep your business profitable.
Today’s tip of the day comes from the Marketing Tactics section:
If you’re considering adding hard-goods advertising specialties to you shop, there are three areas you should look at, according to Jimmy Lamb, manager of communications and education for Sawgrass Technologies:
- What equipment is required for the products I want to decorate? “Hopefully, you can do multiple products with whatever equipment, say a pad printer for pens and markets, that you’re going to invest in,” Lamb says. “Also, sublimation is an easy, inexpensive way to do desktop digital printing for a wide range of products such as mouse pads, coffee mugs, plaques, signage, flip-flops, soft laptop sleeves and drink koozies.”
- What promotional items can I make real money from? “Part of that is quantifying what promotional products have reasonable margins for you,” Lamb says. “Go to an ASI Show (www.asishow.com) to learn more about the promotional products world. Immerse yourself, find out what products suppliers are offering to ASI members, what they’re charging ASI members for the products and what they retail for.”
- What will be my ROI? Lamb says decorators can expect to spend between $500 to $2,500 on equipment that allows them to imprint promotional products, so they need to estimate how long it’ll take the machine to pay for itself once they begin to sell and decorate promotional items. You can also survey your current customers to ascertain the demand for advertising specialties. – Shane Dale