An increase in corporate profit leading to bigger advertising budgets has led to the boost in the advertising sector as a whole, including the promotional products industry. According to IBISWorld, the Promotional Products industry in the U.S. has grown over the past five years by 2.4% to reach a revenue of $17 billion in 2018.
The main advantage of promotional products such as shirts, mugs, tarps, and calendars is repeated exposure. The more the audience is exposed to an advertisement, the more they remember and recognize the brand. And the more they perceive a brand, the more they are willing to try it out.
In fact, seven out of ten brands consider promotional products as mostly or always effective in achieving their marketing goals.
This effectiveness in giving repeated exposure makes promotional products a must-have for companies. This presents many exciting opportunities for you.
Commercial Embroidery Services
Whether it’s a consumer wanting a customized shirt or a company wanting an official shirt for employees, an embroidery franchise has a broad market base. Here are some surprising facts about this industry:
- The embroidery services industry has annual revenue of around $1 billion.
- In the apparel industry, 45% felt that embroidery decorating services made the most revenue.
- The commercial embroidery services industry grew by 1.7% yearly between 2013 and 2018.
Because they’re so affordable and offers much room for creative use, exceptional embroidery services are highly demanded.
One of the easiest ways to get started is to look out for a good embroidery franchise opportunity. If you buy a franchise, the equipment, tools, and materials will be taken care of for you. Also, you won’t have to worry about building a name before you make a profit because you’re borrowing an existing brand’s customer base and track record.
Target a Specific Product Category
Whether you’re offering embroidery services or screen printing, targeting a specific niche or category offers many benefits. For one, it will help you narrow down your target customers and spend more resources in getting to know their needs and preferences.
It will also help you focus your marketing efforts. One of the most significant categories that got the most sales in 2017 according to the Promotional Products Association International was drinkware, comprising 8.4% of the total sales. Considering this, offering printing services on tumblers and mugs makes sense.
Offer a Full Marketing Package
Companies come to promotional products service providers for one thing: to get help with marketing. This presents a massive opportunity. If you have considerable experience in digital and traditional marketing, consider offering a full marketing package. This can range from social media marketing to print marketing.
Understand what your clients need or their biggest challenge in terms of marketing their brand and see how you can help.
The steady growth of the promotional products industry and the advertising sector, in general, offer a vast range of opportunities. If you know the state and trends of the market, you’re bound to find an opportunity that fits you and your skills.
