What’s Keeping You From Potential Added Revenue With Branded Merch & Swag?
As featured in the spring 2024 print issue of Canadian Special Events Magazine on page 36.
CLICK HERE if you prefer to read from the digital issue of the magazine.
My father-in-law, a successful salesman from Montreal, always taught me to ask for a sale at the end of a meeting. I was taught that if you don’t ask, you don’t get it. This may be an “old school” approach, yet when a client responds, you know the answer.
So why is it difficult for planners to ask clients if gifting or swag will be included in the event? I’ve found four common misconceptions limiting planners from the potential revenue stream swag and branded merchandise can offer.
How much revenue are we talking? Welcome swag, awards and speaker gifts go for about $10K - $20K based on the number of attendees, meanwhile the planner gets reduced bulk pricing, and can pocket the rest as profit. Tangible takeaways can also increase admission revenue and unlock sponsor opportunities to cover costs. If your competitor is providing this and you're not, you’re missing out!
We tell clients, you don’t have to do this alone. Leverage our experience as a gift vendor; that’s what we're here for.
Assumptions
Assuming the client doesn’t want any gifting is a costly mistake. Swag should always be a part of the initial proposal. Consider the event theme, venue, and attendee profile to suggest a budget with three price points for the client to choose from. The rule of thumb is that the less expensive the item, the higher the minimum quantity. Be open-minded and present it to the client, conveying the benefits to them and their attendees.
Not Enough Budget
Once budgets are allocated, the client might be reluctant to spend on swag. Mentioning the benefits is a crucial way to gauge the conversation, highlighting opportunities to increase revenues with swag sponsorships, admission merch bundles, leads, and measuring ROI. They may be surprised that all it takes is a QR code printed on a product to encourage recipients to engage in contests and surveys -collecting data that will help plan and sell events more efficiently.
Fear of Rejection
There's always a risk the client may reject the idea, believing it might be unnecessary or wasteful. This is when a question works wonders. Nothing is pushy about ensuring a client’s success, leaving no stone unturned. It’s part of the job to cover all bases. Your client will appreciate that you asked.
Uncertainty
When clients are uncertain what gifts or swag they want, the indecision and delays can add stress to their workload, especially with the daunting task of managing the procurement and distribution. Eliminate this arduous task by sourcing and distributing gift ideas from your vendor. Ask for a slide to add to your proposal; it’s a reasonable request. They have the insight and experience for a seamless execution. If the vendor isn’t supporting your efforts to sell their product, why use them?
Featured Product: Pink Polar Fleece Blankets
A lead time of 8 weeks for large orders; and 12 business days after proof approval for smaller orders is recommended. Contact our Gift Innovators for a selection of blankets we carry.
Peruse gift ideas in our collections and reach our Gift Innovators at 647-224-0990 when you're ready to explore what revenues we can unlock for your business.
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