How much would you pay to promote your business?

[al1991]

Hi, I'm new here and wondered if some of you could help me out. I posted my question on the lancer register but didn't get much of a response.

I stole an idea off a lad the same age as me (18) on here, making keyrings for local businesses to use as promotional materials. Either way, I thought it would beat working in the usual stty student type jobs all summer, before I start Uni.

The question is, how much would you pay for, say, 100 keyrings with your company name/logo and contact info? Or how much do you currently pay? I am aware of the issue of companies being able to import for cheaper money themselves but I will only be targeting small local firms and therefore I feel that if what I have to offer seems to be good value, local businesses will be likely to buy from me.

Any help appreciated.

Edited by al1991 on Tuesday 28th April 00:05

[LivinLaVidaLotus]

Your best bet is to look at your online competitors, the ones that smaller companies are likely to have heard of, such as 4imprint: http://www.4imprint.co.uk/search/bsearch.aspx?sear...

[ipwn]

I'm not sure but you need to seriously get out of your head that small local firms will happily buy from you.

The internet has made importing for people so easy.

If I wanted to get some keyrings with my company logo I would just go on Alibaba or tradekey, pick the higest rated seller selling keyrings and get them to make it for me.

It's pretty straight foward and simple.

This isea that "small local business" will buy from you is a tad flawed imo.

[carpmaster]

Have to agree with last post. I'm running a small local business, and I would just get straight on the internet to order them. Not that I really have a need for 100 keyrings (being a small business)!

Keep at it there will be something much better!

[jamesuk28]

You need to target your market correctly, If my debt collection company was offered 100 keyrings even for free we would still say no, so think who is actually going to want them:

estate agents
letting agents
car showrooms
garages
locksmiths
key cutters

[Martial Arts Man]

I'd scrap that idea; head to the local B%Q, buy all their painting masks and go and sell them in your local town centre.

Profit from all this "pig flu" madness.

QED.

[JustinP1]

Does anyone actually use a freebie promotional keyring with another companies contact details on it?

[therealpigdog]

JustinP1 said:

Does anyone actually use a freebie promotional keyring with another companies contact details on it?

Sadly yes, although only for shed/garage/spare sets of keys. The question is whether I can remember the name of the company who provided he key rings, or if I have ever used their services?

[Martial Arts Man]

therealpigdog said:

although only for shed/garage/spare sets of keys.

Agreed; they're very useful to me. Not so much to the company who paid for them though!

[JustinP1]

IMHO after doing all the legwork to start a company from scratch with no guarantee of a return of any kind at all, and that effectively it is only a business for the summer, the OP would be much more likely to gain more per hour working for someone else just for the summer.

[al1991]

Thanks you lot. You've certainly given me some food for thought, it was as much (if not more) about experience than anything else but I'll have a think about what I'm going to offer. I know of a local garage that puts a company keyring on all customers car keys after each service. It might be a bit cheeky, but I might have a chat with the guy who runs the garage (I know him) see what he has to say before I begin doing anything concrete. If anyone has any other suggestions I'd like to hear them.

[ShadownINja]

I wouldn't look at this as a way of promoting my business so much as appearing to be generous by giving such a thing away free to customers. It may help generate repeat business from a goodwill basis. I'd rather put the money towards advertising of some sort. So, if I relied on repeat business and the typical sales value of each invoice was maybe £20+ I wouldn't mind throwing in a £2 freebie. Hope that gives you ideas.

[siscar]

We buy promotional items fairly often so we have a supplier who can give us pretty much whatever we want. Someone who can only do keyrings (and perhaps only one type of keyring?) wouldn't get our business.
I'd also say that keyrings themselves aren't great - good for the motor trade where they have to give you some keys with a new car, but nobody else really hands over keys.

[Swoxy]

What about Estate Agents?

[al1991]

Garages and Estate Agents are a good idea, there are plenty of local businesses to test the water with and it's not a huge amount to lose so I think I'll have a go later on in the year. Thanks for the advice.

[GreenV8S]

al1991 said:

I know of a local garage that puts a company keyring on all customers car keys after each service.

If my local garage did that to me I'd be sufficiently annoyed to make them to take it off again. It's extremely presumptuous.

[singlecoil]

al1991 said:

Garages and Estate Agents are a good idea, there are plenty of local businesses to test the water with and it's not a huge amount to lose so I think I'll have a go later on in the year. Thanks for the advice.

Have a think about how you are actually going to approach businesses like this. Are you going to walk in, as for the manager, or the owner (whoever can make a buying decision). In other words, cold call and interrupt people who are busy trying to earn a living. Are you the kind of person who can do that?

How many sales a day would you need to make the whole thing worthwhile? How many businesses would you be able to call on in one day? How much money from each business would you be asking for? £20? £50? £100

Edited by singlecoil on Monday 4th May 18:28

[al1991]

I was thinking of posting out samples to about 5-10 businesses a week with an aim to get at least 1 lead. The amount would depend on the amount of products needed.

[Merlot]

al1991 said:

I was thinking of posting out samples to about 5-10 businesses a week with an aim to get at least 1 lead. The amount would depend on the amount of products needed.

I'd make up a whole batch of 'Sample' keyrings and send 3 to each business. I think your takeup percentage will be a lot lower than 10-20% though.

[deadslow]

Local taxi firms/drivers?