Recently we talked about pre-booking your promotional products – what it is and how it can benefit your promotional product marketing strategy. There are certainly many benefits of partnering with a company that can help execute Pre-Book programs, however there are some risks that you should be aware of as well
Benefits of Pre-booking Include:
- The ability to receive retail product as it hits the market and be head of trends
- The opportunity to buy fashion items and hot items and separate yourself from competitors
- The ability to secure highly sought after items
- The opportunity to plan a buy for six months to a year in advance
- The ability to preview new offerings in company showrooms
- The knowledge that you can secure inventory and use as needed
- Shipments can be staggered over a period of time and revised as necessary
- Products can also include unique customization and features
- Factory direct savings
- Access to high end premium brands
However, while there are many benefits of pre-booking your promotional products, you should also be aware that there are some risks.
Because pre-booking must be done so far in advance, your marketing efforts initiatives must be planned out. Loss of money occurs when your marketing initiatives change ? for instance ? and you change your giveaway strategy or if your organization goes through a rebrand during the period between ordering and product arrival. Not knowing which style(s) might be the most popular so far in advance can also make it difficult, especially if you are looking for the newest and best products to pre-book.
Additionally, it can sometimes be difficult to determine product needs 4-6 months out (will we need this giveaway? Will it be a part of our strategy?). Similarly, it can also be difficult to predict your inventory and volume expectations and needs that far in advance, running a risk of ordering too much or too little product.
Finally, timing. The pre-booking order deadlines are strict and you may not be able to receive the necessary approval(s) within the required timeline ? especially if your strategy is not fully planned out meaning you may miss the opportunity window.