Merchandise is the word used to describe a product that can be bought or sold. All products stocked in a supermarket are merchandise that was bought from a manufacturer, to be sold to a customer. Merchandise can be considered as any type of good for sale, for example, clothes in a clothes shop are merchandise, raw materials from a manufacturer are merchandise, and computers in an electronics store are merchandise.
Merch is goods to be bought and sold. Popular social media influencers, famous brands, growing businesses, industry thought leaders, and anybody else who has a large social platform can monetize their online influence by creating valuable merch for their biggest fans.
Why You Should Invest in Merch for Your Brand
- Increase your brand recognition. Your brand is how people see you and how you’re spotted. If your logo/style isn’t instantly recognizable, merchandise is a great way to solidify your brand. It takes 5-7 impressions before someone will remember your branding and logo, so if you’re not sure about your brand, trying out designs on merch is a great start! Make sure to incorporate your channel branding, logo, color scheme, and general personality into your merch and storefront! Consistency makes your brand recognizable across all platforms.
- Create your very own awesome products. 73% of creators use sponsorships or sponsored content to generate revenue. Sponsored posts and brand deals are a fantastic way to earn money, but what could be more unique than creating your own products where you create the product and you make 100% of the profit? (Here are some merch ideas to get you started.)
- Utilize your platform. You already have an existing audience. They are waiting for you to release merch. Subscribing to a YouTube channel, downloading a podcast, or following an Instagram account means so much more than just consuming content, you become part of a community. What better way to unite that community than creating merch that your audience can use to spot each other at events, share inside jokes, and strike up conversations with potential new friends!
- Make extra money. This one may seem obvious, but it is still worth mentioning! YOU can set your profit, so YOU choose how much money you make. For a company selling branded merchandise as well as their normal offering, it can be a great added source of revenue. It is important to ensure that the merchandise is low cost to manufacture for this strategy to be effective as the company should have a good profit margin.
- Give back to your brand community. You’re able to give something back to your brand’s community in a way. Your fans are your support system. Without them, you wouldn’t be where you are today, so let them know how much they mean to you. Create a line of merch that speaks to them.
You’re engaging with your customers uniquely. With people possessing branded material they have the ability to engage with the company and its audience more. People take pictures of themselves with their branded merchandise at events, traveling to places, and in other cool settings which help to identify the company’s brand proposition. Businesses can profit from building a community around their branded merchandise, motivating their audience to snap pictures of themselves with their swag to help sell more to similar people.
View more information: https://influencermarketinghub.com/glossary/merch/