Questions and Answers
Q. A catalog is a significant investment. How do I budget the cost for a catalog and is a catalog necessary?
A. Publishing a catalog can constitute the largest single marketing cost in your annual budget. When planning our catalog budget, make sure you account for all the real input costs such as costs for production, printing and distribution. Don't neglect to factor in cost recovery opportunities through trading partner support.
It's difficult to determine the cost of not having a catalog. Statistics show that 76% of customers making buying decisions require additional product information (Cahners Research). What if your Sales Rep. has not made a customer visit in the past 20 days or is unavailable when your customer calls? The customer will rely on other sources for information. Will it be your print or online catalog?
Measuring the return on your catalog investment should include indicators such as improved customer satisfaction, success in building differentiation from competitors and better brand awareness from your customers. Some indicators are difficult to quantify. Ultimately, the ROI you realize from making that catalog investment is demonstrated through increased market share, improved bottom line results and enhanced shareholder value.
