So you’re asking, “What are some creative uses for your own product line that you can leverage to grow”?
The answer is not a complex one, but you need to find the right balance for your balance, your engagement style and your personal brand. GET PAID!
It might seem obvious but it’s important enough for us to mention. Having your own product line gives you something to sell – and at a profit! Products can be tangible items like apparel, or accessories, or perhaps electronic devices that align with your clout and sphere of influence, but they can also be intangible products like subscription services that open doors to coaching, instruction, recipes, or visual content. It could also be simple items that add engagement factors like filters, and Lightroom pre-sets. The name of the game is monetization – that is using products to extract some value from the work you’ve put into building your presence.
PERMANENCE & GROWTH
Products associated with you are great tools of communication – they are also great reminders to your audience turned-customer about checking out what you’ve been posting and engagement further. The more someone views or click, the more likely they are to engage, the more likely they are to share with others, the more likely your audience will authentically grow. REWARDS
The items in your product line can also be used for promotional purposes by rewarding your audience for their engagement their introductions or their mentions. You have undoubtedly already held contests or competitions for your audience so why not reward them with something that comes back to you with benefit. We don’t have to tell you just how effective ‘free stuff’ can be, similarly discount codes or special edition items are great ways to engage and leverage.
We are all looking for ways to leverage our social influence for the betterment of the world. It takes nothing more than some branded products to inspire your followers to donate click or follow causes close to your heart.
What we challenge you to do is integrate one of these types of activities for a set period of time. Use your power for good!
Having a product line also allows you to collaborate with other influencers or even other brands of products on more authentic grounds. Invite your closest collaborators to run a special edition item, or produce a unique photo-shoot where are you both take part. It is a great way to harness each-others unique following and bridge audiences. It is a sure way to mutual benefit and growth and it can be tons of fun.
Also, don’t forget that existing brands will consider doing the same with you once they see your presence revolves around products for sale. Showing your connection to direct-to-consumer sales, and showcasing your greater value may be the ticket to establishing a partnership of that major shoe brand that features your brand or design, or that jewelry line that launches a collection sporting your name or logo. Collaborations and licensing is a great way to extract value without much additional effort.
TAX CREDIT INCENTIVE
Depending on how you’ve come to establish your online presence, you may not have a formally registered business – and for that reason you may not have been able to write off the expenses associated with building your empire. If you launch a product line, and actively sell some items – it put you in the position to register a business, and start claiming your expenses to be deducted from your annual taxable income. If your online presence and social media influence work is secondary to other work you do this could be a great way to reduce your taxes or even get a refund! For advise on registering your business be sure to contact a legal advisor who specializes in this as well as an accountant who can help you understand the implications and benefits of working as a registered business.
To full outline the best possible applications for a product line for your brand given your audience and your individual voice – contact MerchUP to conduct a brand audit and strategy discussion on how your own product line could be activated and benefit you.