How Much Should You Spend on Customized Rubber Wristbands
Customized rubber wristbands make for a great advertising tool because they’re visible, easy-to-wear and relatively cheap. Most companies are now choosing wristbands as their primary advertising tool compared to simply rolling out advertisements in print and broadcast media. But how much should you spend on these rubber wristbands and are they worth the money?
A Ballpark Figure
If your company is just starting out, a good marketing strategy would be to give out customized rubber wristbands as part of your promotional campaign. Be it giving away wristbands to the first 50 customers, or giving them for free when a customer purchases a certain product, this can definitely boost your popularity in an affordable way. Even if you have a limited supply of these items at first, your customers will come into contact with other people on a daily basis and if they wear your wristbands, then you’ll gain more customers in no time. For a first attempt, just go for around 50-100 wristbands. This will cost you less than a dollar for each piece and they’re totally worth it if you’re looking to make your business known in a short amount of time.
Wise Spending Is the Way to Go
It’s really not about how much you spend on customized rubber wristbands, but how well you allocate your expenses. It’s not a bad idea to be conservative, starting out with small batches. If there’s a demand for your wristbands, you’ll know from the feedback your customers give. If the demand is strong, you can roll out a new batch of wristbands, with the quantity increasing over time. The cost gets cheaper in the long run because most designers and manufacturers offer discounts for bulk orders. Also, never go with just one design. Try to divide your budget into making wristbands of various designs. As part of your advertising gig, you can even get people to collect all the different designs of your brand’s wristbands.
Don’t Go Overboard
Since wristbands are cheaper compared to other marketing items like shirts, it’s easy to get carried away. However, don’t go all out and spend most of your advertising money on wristbands. As discussed earlier, try to roll out a few pieces first, and see how your market reacts to it. If the feedback is positive, roll out a few more, and change designs every once in a while. This way, you never spend too much on wristbands. Don’t stock on these as well or you might end up with boxes filled with them. They’re simply advertising catalysts, so it’s all right if you run out of them once in a while. This can actually make people excited for the new batch to come out. In a way, the wristbands can become a measuring tool for how well your business is doing in terms of popularity.
As with any advertising tool, make sure that you never give more than what you’re getting. There’s no set amount on how much you should spend on customized rubber wristbands, it all depends on public demand and how much your business is gaining from it.