Premiums and Paid Products Spotlight: Keeping It in Budget
To make branded products economically feasible for your smaller nonprofit, it’s important to make every dollar count. Here are some ideas to do just that.
1. Don’t aim too low. When working with a tight budget, the temptation may be to go for the cheapest products you can find. It’s often better, however, to aim for “most effective” rather than “most affordable.” Think about your reason for wanting the product, find the products that best fulfill that goal and then work on making it fit financially. When money is tight, focus on spending it on something you know will work, rather than something that’s just “affordable enough.” You wouldn’t want to go with something so inexpensive that recipients will not wear or use it.
2. Compare. Some suppliers offer feature-vs.-price comparison guides, providing an easy-to-follow, visual way to differentiate products by cost vs. attributes offered.
3. Consider digital printing. Digital printing favors smaller orders since there’s no setup cost. The machinery is always ready to go and doesn’t require the creation of physical templates or plates.
4. Keep decoration simple. If digital printing is out, have a plan to reduce decoration costs in other ways. Cost-reduction can be as simple as keeping it small and to a standard location, or it can be more complex. Redesigning a logo to be a one-color silhouette, for example, can reduce decoration cost, but you would have to consider its broader brand implications.
5. Think mobile and multifaceted. Products that offer a solid and versatile marketing reach can let you market in several different directions at once. A tote bag, for instance, can be used as a fundraising item, mailed as a reward to current supporters or packed with goodies at a charity event.
Michael Cornnell is senior editor for Promo Marketing and Print + Promo, two of FundRaising Success' sister publications, as well as author of Mike's Blog. Reach him at email@example.com