So many of you have heard us talk about the Group Buy concept. It is something very new to our service offering and a powerful tool that helps clients leverage buying power within an organization. The Group Buy offering has many advantages for both promotional product buyers and management.
What is Group Buy? Basically, Group Buy connects buyers within an organization so they can leverage their buying power and take advantage of economies of scale. For example, a sales person for firm X is interested in purchasing a branded pen with their information imprinted on it. They can place the order through us and we will create a “group buy” that can be sent to fellow colleagues in any department within the organization. The original buyer sets a time period for purchases to be made by colleagues – typically the time range is a week to 10 days. Each colleague can order the set minimum quantity, put their own messaging or brand on the product, have the product shipped directly to them and receive separate invoicing. As more pens are added to the order amongst the various departments, the price drops for everyone involved in the Group Buy. At the end of the Group Buy, everyone who ordered gets the lowest price achieved. Group Buy saves everyone involved time and money!
Group buy can also be used by management to “bless” products that meet cost limitations and brand guidelines. Through Group Buy, management can pick out certain products and release them to promotional product buyers for a set period of time. Additionally, upon completion, management can create promotional product tracking reports to help management plan for future promotional product spending.
When utilized, group buy is an effective tool that saves money, controls the brand, spreads creative ideas, and manages cost reporting.
June 2nd, 2010 at 4:24 am
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