Today’s topic is merchandising. Creating products that coincide with other products, like books, that you can sell in conjunction with or aside from your other products. By doing so, you increase your chances of growing revenue, visibility, and reach all at the same time.
Every business reaches a point where they need to increase revenues, or raise funds to keep the business going and growing. Merchandising allows for multiple streams of new income that can be used in all kinds of ways. From fundraiser to capital raises. Depending on the intended use of the funds raised, there can be tax advantages to raising funds this way too.
My buddy and co-host Earl at Iowa Pagan News Radio just set up his own line of merchandise to not just raise money, but also awareness of his desire to bring an entire community together. While it is partly about the money, it is really about ensuring his ability to continue brining people in the pagan community together so everyone can grow together. He’s offering a 10% discount on purchases with a promo code too. It’s Winter2022, if you want to check it out and support him. It’s a short run fundraiser for the next 20 days only.
Most items used for merchandising can be drop-shipped. This means that you don’t have to carry a bunch of inventory and there is virtually no cost to get set up. You can set up a sales page, process transactions, and have the items shipped directly to your customers. It’s a good idea to have a few items on hand for signing, gifting, or giving away as swag, but it isn’t necessary.
The costs are deferred until after you actually sell an item, too. So, you can set up a shop, display and sell your merchandise, place your order for the product, and take your profit immediately.
You do have to promote the item yourself though. Don’t let that discourage you. If you want to perpetually grow your author business, you want additional revenue streams. Merchandising is a cost efficient way to do it.
If you want to add merchandising to your business but don’t know where to start, shoot me an email. I can help you lay out a plan and make recommendations for everything from drop shipping company comparisons to designers that will work best for you and the goals you are trying to reach.