Questions you need to answer before you can build a successful company swag store.
1. WHAT IS THE PURPOSE OF HAVING A COMPANY SWAG STORE?
- Why do you need a store? (Marketing, brand awareness, employee swag, etc.)
- What are your goals?
- Is there a demand? Who will purchase from the store and what are the items used for?
- Do employees have budgets, or are they spending their own money?
- Will employees and distributors be required to purchase corporate logo merchandise through the store or can they buy from any vendor?
2. MINIMUM REQUIREMENTS
A lot goes into building a company swag store, so among the criteria we evaluate is the minimum spend. We will build a swag store if it fits our philosophy and model and if the company spends a minimum of $250,000 per year in sales. This is a very low cost of entry for an amazing custom store with a large selection, multiple logo options and little or no inventory liability.
3. FUND THE STORE!
Many companies believe employees will spend their own money for promotional products, swag and logo apparel, however they are usually disappointed. If you GIVE swag to employees, they love it, but typically they will not buy it.
The best way to make a company store successful is to fund it. Some companies give employees an annual budget of to purchase company branded items. Other companies give points for birthdays, anniversaries, performance, safety, attendance or other criteria. Our system allows you to easily manage points and budgets for all employees.
4. COMMUNICATION
Funded or not funded, monthly communication is key (company newsletter, e-blast, company intranet). The communication can feature new items or specials, offer free shipping or just showcase items. We have learned one thing, “out of sight, out of mind.” Without gentle reminders about the store and products, it will slowly die. We send custom monthly e-blasts to store users.
5. KEEP IT FRESH
Frequently adding new brands and styles of company logo apparel and promotional products is important, especially if the company store is the only place to purchase logo merchandise. No one wants to see the same choices every time they shop, so we strive to frequently add items.
6. LISTEN
Sending a survey to your employees is a great way to understand what they want, price points, etc. We can work with you to do this. It is a great starting point before launching a company store, or getting feedback on an existing store. When employees feel like they have a say, they are all in and will use and promote it. Employee word of mouth is a great and helps the company store’s success.
7. PRODUCTS AND PRICE
The product assortment must match your demographics and their price points. Who is buying and why are they buying (personal use, events, customer gifts)?
8. INVENTORY
Do you want inventory or Just In Time items, or both? Depending on your volume and who is buying, we can determine the best choices for you. We call it Rightsourcing.
To build a successful company swag store, it takes planning and proper execution. iCoStore will consult and work with you to build a very successful corporate swag store or steer you in a different direction if one isn’t needed.
