Every business professional knows that promotional products are a cost effective method of promoting a business. However, only some people manage to make the most of it. Some distribute them at the wrong places, some compromise on quality and some pay over the odds for them.

In business, money is everything. Small savings in several aspects eventually save up a lot of money.  There is always a range of prices in business, researching the market helps in finding the best rates. When using promotional products as a marketing strategy, an intelligent businessperson will have something planned out to save on the already ‘cheap’ method.

When planning a promotional products campaign, one should study its target audience. Find their requirements and choose specific products. When you know what products you have to get, study the market thoroughly. The market is very competitive these days so you will definitely find a price difference or discounts somewhere. Products are available in different levels of quality, depending on the materials used and the quantity. For example, a good quality pen would cost $3.50 per piece, whereas a low quality pen would be available for $2.00 or less. Buy products keeping the audience in mind. If you are distributing these items to educated or corporate clients, the quality should be kept at a high standard. If distribution is being done among the labor class, quality can be compromised a bit.

Another way of saving money on these items is by buying from a wholesale dealer. Wholesale dealers offer exceptional discounts, sometimes up to 70%. If you were paying $5000 for the items, now you will be saving up to $3500, which is a lot of money when considering the total budget.

Buying in bulk also decrease the cost per piece. Dealers are willing to offer special discounts on higher orders. For example, if a single notepad costs $4.00, 20 pieces of these notepads will cost $3.00 or less per piece. The price per piece gets lower as the ordered quantity increases. Ordering more will also save you a lot of money. Some people think ordering in bulk could lead them to the wrong side of the balance sheet; the products would go to waste and they would be bearing a huge loss. However, if you think again, you can use these items in the future. You do not have to worry about distributing all of them right away; they can be used in the next marketing campaign. However, for this to work, you should get the items printed from someone other than the manufacturer.

You can also save money by signing a long term deal with the manufacturer. When ordering for the first time, you will be better off not to do this because you have no idea of the service you will get. Even if you get a high recommendation, you should first check the sample of the manufacturers work just to be sure it matches your standard. If you are satisfied then you should open talks with the manufacturer for a long term deal. In a long term deal, the client gets high discounts and a high quality of customer service.

 

 

 

Andrew has contributed several articles on the impact of branded promotional merchandise on business development and customer retention. His favorite products are imprinted promotional pens as they provide the best results.