The usual way of bargaining the price with your suppliers
In your usual supermarkets, you will always hear the voices of people bargaining their groceries shopping with their vendors and merchants. Many people would go beyond limits to ask for discounts and engage in different techniques just to save dollars from the total bills. You will hear people shouting the word “discounts, Very Expensive and even quarrels between customers and merchants just for the extra cents and dollars.
This doesn’t work for corporate and promotional gifts as both companies reputation is on the tables and the deliverables are at stake as well. With this being said, please do not use your retail bargaining skills and strategies onto the corporate gifts industry as it doesn’t work the same way as the retail industry. However, we will share with you 3 strategies that you can deploy to get a better price with your corporate gift suppliers.
Consolidate your orders
A corporate gift is no double a number game where a bigger quantity gets a lower price. Therefore always ask your supplier what is your breakeven quantity and the prices base on the different quantities. With the prices on hand, you can better plan your purchases and engage the help of your fellow colleagues. You can ask your fellow colleagues if they would want to make the purchase so to increase the number and enjoy a bigger bulk discount on corporate gifts.
Reduce your deliverables
Sometimes, you wouldn’t know how are the prices breakdown on each single corporate gift product as you are just a customer and not the supplier. Therefore you can always check with your corporate gift supplier on how to reduce the discount by adjustable the different deliverables on the order.
You wouldn’t be surprised to find out how much you will save when you extend the deadline for your supplier, omit the packaging and just by printing the Logo in 1 colour. All of this deliverables can also affect the final price of the corporate gift. If you are acceptance to the new deliverables, this would get you some cost savings from the total bills.
3 Examples of the Deliverables of an Order
• Ways of Printing the Logo
• The packaging of the Corporate Gift
• Timeline of the Production
Post for barter
Lastly, this is a hidden technique which no many customers and suppliers would use to reduce the price of their corporate gifts. As a customer, you can always counter offer new proposals and ideas as to how to reduce the prices of the corporate gift.
There is 1 method where you can use to reduce the price without adjustable the deliverables. You can always ask the supplier if we can do a bit of marketing of their gift such as a social media post or a LinkedIn share of what your supplier is offering. This will let your corporate gift supplier do free marketing and publicity within your networks without spending a single cent of their marketing budget.
By posting a Social media post of what that vendor is offering, you can ask your corporate gift supplier for about 5 to 10% where it is a win win situation for both parties.
No matter what you do, do it with a smile
Lastly, no matter what techniques you deploy or how you bargain, always do it with a cheerful upbeat attitude and bring a smile of your face when talking to them. This will put yourself in a good position to negotiate and bargain for a better and lower price with your corporate gift suppliers.