Planning and constructing a marketing budget for the year can be an arduous and frustrating task. Here are a few thoughts to help streamline the process so that you can get back to running your business!
1. Involve your display vendors early in the process.
It is important to reach out to your vendors as soon as you start putting together your budget for the year. Costs may have changed since you worked with them in previous years and this may impact decisions. It will also help you figure out how much you need to allocate for each part of your overall campaign.
2. Ask what similar displays cost.
This will give you a loose idea of what to expect without moving into the formal quote stage of the manufacturer. It is especially important if this is a new point-of-purchase display venture for your company.
3. Explore different materials
Talk to your vendor about what different materials are available and how they change the cost of the displays. This is going to be something that you’ll want to consider as you approach different retailers as well. They may have varying requirements and that can impact your decisions when it comes time to order. Remember that some materials, such as corrugates, only last for 3-6 months, and frequent reorders will be required.
4. Consult your sales force.
Having an open line of communication with your sales team is essential to building a realistic budget. Since they are the ones who are in direct contact with your retailers, they know what your clients need and expect. Different retailers will have different needs in terms of quality, material, and available space. Ensuring you can meet the needs of each retailer is paramount for a successful display campaign.
5. Know the relationship between the display and your product.
It’s important to consider the dollar value of the product that is going on your display. Think of how many sell cycles it will take for the investment to begin to yield profits. Consider the full life expectancy of the display and how many sell-cycles it will yield. This will help you to calculate your return on investment.
6. Shift your mindset.
Don’t think of a custom point-of-purchase display as a cost to your business. It’s an investment in the success of your brand. A strong design and flawless execution of a custom point-of-purchase display will not only drive sales, but will also increase your brand’s top-of-mind awareness and build a loyal customer base.
Involving Avante PoP Displays in your 2023 retail marketing plan will put experts with over 30 years of experience in your corner! Call Avante and learn why we are trusted by countless brands across North America.