Strategy February 10, 2021
Strategies for Virtual Event Items
They’re proving to be big business for this distributor.
The Pro: Bryan Goltzman
Title: Owner
Company: Liquid Screen Design (asi/254663), Minneapolis
Virtual Event Promo is Lucrative
“In the early days of the pandemic, a brand-new client that canceled their spring in-person fundraising event asked us for ideas and I suggested they do swag boxes. It was a casual conversation and I just threw it out there, but it ended up being 250 boxes at $50 a box. First orders with a client are usually $100 or $200 just so they can see if you can handle it. This first one was $30,000 and it spawned our entire box business. We’re so busy now, our heads are spinning. In just one week recently, we sent out boxes for a nonprofit fundraiser, university homecoming, 65th birthday party, two galas and two conferences – all virtual.”
Don’t Undersell Yourself
“No one’s been nickeling and diming us. We didn’t think that first customer would spend more than $10 a box, but I pitched a $30 box, they added a few things and it ended up at $50 apiece. It had a bunch of items inside and a full-color imprint on the inside and outside, and it was shipped to 250 people. Then we were bombarded for requests from recipients who wanted to do their own. They’re not nickeling and diming because it’s more than one item. When it’s just one product, they can shop it around. If their budget is $30 a box, I’ll show them a $40-50 box and then ask them what they want to take out. Usually they want to keep everything because they see the brand story we’ve created.”
Make a Statement
“We’re showing new clients what a partner can do. Because of the boxes, Q3 was our busiest quarter ever, July was our best month ever and now we’re about to surpass that [in October]. This is most of our business right now. But it’s not random items inside – the collection has to tell the story of the event. People want to receive packages, especially now, and they want to feel something about the brand.”
Consider Possible Disruptions
“Timelines are getting worse because we’re not the only ones doing boxes right now, and box vendors are few and far between. You also have to keep everything straight during fulfillment. If one item hasn’t arrived yet from the supplier, the boxes can’t go out. That makes these orders high-risk, especially if it’s $30,000. Artwork, too, takes a long time and can be complicated. It takes days to come up with designs, and then if the client wants to change something, it’s all pushed further out. Build in time buffers to make sure everything arrives on schedule.”
Look for New Opportunities
“When I worked in events, we’d organize a yearly gala for one client that would bring in about $250,000. Maybe there’s an opportunity now to add on $30,000 to $50,000 for people to attend virtually who don’t live nearby. We know how to do it now. We’re so comfortable with virtual events. Our job is to tell clients how many more people they can reach. Why eliminate new opportunities after COVID is gone? Our goal is to make our customers better, and it benefits us too. We need this in our industry. Help lead clients on this new path. You have to show them the opportunities so they can stand out from their competitors. Explain it in a way that honors and respects them.”
Takeaways:
1. Design engaging bundles that tell a story.
2. Be ambitious with the pitch.
3. Prepare for delays in the process.