Introduction: Definition and importance of an internal company store
In the dynamic landscape of modern workplaces, the implementation of an online company store for employees has evolved from a trend to a strategic imperative. The goal is clear: elevate employee satisfaction, fortify company culture, and optimize the distribution of branded merchandise through an efficient online employee store.
In the following sections, we’ll delve into the nuances of the concept of an internal company store, distinguishing between physical and online employee stores to provide a holistic understanding of their roles and significance within an organization.
Table of Contents
What Is a Company Store? Understanding the Concept of Internal Company Stores
An internal company store goes beyond the traditional brick-and-mortar setup. It encompasses a digital realm, commonly referred to as an online employee store, providing a centralized platform for employees to access and acquire branded merchandise. This shift from a physical to a digital presence is crucial in catering to the diverse needs and preferences of the modern workforce.
The advantages of embracing this evolution are multifaceted. Not only does it align with the technological expectations of today’s employees, but it also opens new avenues for streamlining processes and enhancing overall efficiency. The distinction between physical and online employee stores sets the stage for a comprehensive exploration of the benefits that come with implementing a corporate company store.
Advantages of Implementing a Company Store for Employees?
The advantages of integrating a corporate company store into the organizational framework are far-reaching. Beyond the tangible benefits of distributing branded merchandise, the implementation of the best online company store for employees can significantly impact employee satisfaction, reinforce company culture, and optimize the distribution process.
Consider the positive ripple effect on employee satisfaction: access to an employee company store tailored to their preferences fosters a sense of belonging and appreciation. Furthermore, the internal company store serves as a powerful tool for reinforcing company culture and brand loyalty. As employees engage with branded merchandise, they become brand ambassadors, embodying the organization’s values and identity.
A property executed store for branded merchandise can impact your organization in additional ways.
- Brand Consistency: Ensures that all branded merchandise maintains a consistent and professional look, reinforcing the company’s visual identity and messaging across various items.
- Centralized Control: Provides a centralized platform for managing and controlling the procurement, distribution, and customization of branded products, maintaining uniformity and quality.
- Cost Efficiency: Bulk ordering and centralized procurement often lead to cost savings. Negotiating deals with suppliers for a wide range of products can result in lower per-unit costs.
- Employee Engagement: The ability for employees to choose their preferred branded items enhances engagement and connection with the company, contributing to a positive work environment.
- Streamlined Procurement: Simplifies the procurement process by consolidating orders, reducing administrative overhead, and ensuring a smoother workflow for purchasing and restocking merchandise.
- Customization Options: Allows employees to personalize or choose from a variety of branded items, fostering a sense of ownership and individuality while still aligning with the company’s overall branding.
- Efficient Distribution: Centralized distribution ensures timely and accurate delivery of merchandise, avoiding delays or errors associated with decentralized procurement and distribution systems.
- Promotional Opportunities: The company store can serve as a platform for promoting new products, initiatives, or events, leveraging branded merchandise as a marketing tool both internally and externally.
- Compliance and Quality Control: Ensures that all branded merchandise complies with the company’s quality standards and guidelines, maintaining a high level of quality and professionalism.
- Simplified Reporting and Budgeting: Provides a clear overview of expenses related to branded merchandise, facilitating budgeting and financial reporting processes for the organization.
Examples of Companies Using Company Stores for Employees
Use Case 1: Google’s branded merchandise store offers a variety of items that employees can choose from, ranging from casual wear like T-shirts and hoodies to more specialized items such as tech gadgets and office accessories. This not only strengthens Google’s brand presence but also enhances employee satisfaction by providing them with quality products that reflect the company’s innovative spirit.
Use Case 2: A rapidly growing tech startup integrates a reward and recognition store with its internal platform, allowing managers to reward employees with points that can be redeemed for exclusive merchandise or unique experiences such as team-building retreats or professional development courses. This system not only motivates employees but also aligns rewards with company goals and values.
Use Case 3: Salesforce utilizes a comprehensive reward and recognition store that integrates with its performance management system. Employees can earn points for exceeding sales targets, completing projects ahead of schedule, or demonstrating exceptional teamwork. These points can then be redeemed for a wide array of rewards, including high-end electronics, travel packages, and exclusive event tickets, thereby driving performance and engagement.
Key Components of a Successful Company Store for Employees
User-friendly online platforms
In the digital age, the success of an online company store for employees hinges on the user experience. A user-friendly platform not only enhances accessibility but also encourages regular engagement. Navigating the platform should be intuitive, ensuring that employees can effortlessly explore and acquire merchandise from the comfort of their devices.
Diverse product offerings
Expanding the product mix in a corporate company store is more than a strategic decision; it’s a reflection of the organization’s commitment to catering to diverse preferences. Offering a wide array of merchandise, from clothing to accessories, allows employees to find items that resonate with their individual styles and tastes. Explore more about diverse product offerings here.
Integration with corporate branding and messaging
The internal company store should seamlessly align with the organization’s branding and messaging. Consistency in design, color schemes, and messaging reinforces the brand identity and creates a cohesive experience for employees interacting with the online employee store.
Building an Effective Online Employee Store
Choose the right platform and technology
The foundation of a successful employee company store lies in selecting the right platform and technology. The platform should not only meet the current needs of the organization but also have the scalability to adapt to future requirements. Investing in a robust technology infrastructure ensures a smooth and secure online shopping experience for employees.
Customize user experience
Tailoring the user experience in the best online company store for employees goes beyond aesthetics. Personalization is key. The platform should adapt to individual preferences, providing tailored recommendations and a personalized shopping journey. This level of customization enhances employee satisfaction and strengthens their connection to the organization.
Ensure security and data privacy
The importance of security and data privacy cannot be overstated, especially in the context of an online employee store. Implementing robust security measures ensures the protection of sensitive information, fostering trust among employees as they engage with the platform.
Choosing the Right Products for Your Company Store for Employees
- Determining the product mix for the corporate company store involves a nuanced understanding of employee preferences.
- Conducting surveys or gathering feedback can inform decisions on the types of merchandise to include.
- Additionally, understanding current trends and industry insights can guide the selection process.
Merchandising strategies
Beyond the selection of products, effective merchandising strategies play a pivotal role in the success of the employee company store. Visual appeal, user-friendly categorization, and strategic placement of items contribute to a seamless and enjoyable shopping experience. Creating a visually appealing and user-friendly store encourages frequent visits and engagement.
Implementing Online Company Store for Employees: Step-by-Step Guide
Step 1: Planning – Laying the Groundwork for Success
This initial phase is crucial for setting the direction and ensuring your company store aligns with your broader organizational objectives. It involves a significant amount of internal discussion and decision-making.
Key Considerations
- Define the “Why”: What is the primary purpose of this company store?
- Brand Building: Enhancing brand visibility and recognition among employees and external stakeholders.
- Employee Engagement: Fostering a sense of belonging, team spirit, and appreciation.
- Marketing & Promotion: Providing branded merchandise for events, client gifts, and marketing campaigns.
- Internal Programs: Supporting onboarding, recognition programs, and company initiatives.
- Revenue Generation: While less common for internal stores, it’s a possibility for external-facing shops.
- Identify Your Target Audience(s): Who will be using the store?
- Employees: Consider different departments, locations, and roles. What kind of swag resonates with them?
- Clients/Customers: What items would be valuable and leave a positive impression?
- Partners/Vendors: Branded gifts can strengthen relationships.
- Potential Hires: Swag can be part of the recruitment process.
- Determine the Scope and Scale: How extensive will your initial offering be?
- Product Categories: Apparel, accessories, tech gadgets, office supplies, drinkware, etc.
- Number of SKUs: Start with a curated selection or a broader range?
- Geographic Reach: Will the store serve local, national, or international audiences?
- Budget Allocation: How much are you willing to invest in setup, inventory (if applicable), and ongoing maintenance?
- Establish Internal Stakeholders and Responsibilities: Who needs to be involved in the process?
- Marketing/Communications: Brand guidelines, messaging, and promotional strategies.
- Human Resources: Employee engagement initiatives, onboarding, and recognition programs.
- Procurement/Finance: Vendor selection, budget management, and payment processing.
- IT: Platform integration and technical support.
- Legal: Compliance with regulations and brand protection.
- Develop a Timeline: Outline key milestones and deadlines for each stage of the implementation.
- Consider Legal and Compliance: Ensure all branded merchandise adheres to legal standards and brand guidelines.
Deliverables of the Planning Phase
- A clear and documented purpose statement for the company store.
- Defined target audience profiles.
- An initial scope document outlining product categories, scale, and geographic reach.
- A preliminary budget allocation.
- Identification of key stakeholders and their roles.
- A high-level project timeline.
Step 2: Goal-Setting – Defining Measurable Objectives
Once you have a solid plan, it’s essential to set specific, measurable, achievable, relevant, and time-bound (SMART) goals to track the success of your company store.
Examples of Potential Goals
- Increase employee engagement by X% within Y months, measured by store participation rates or internal surveys.
- Enhance brand awareness by achieving Z impressions/engagements through branded merchandise distributed via the store within a specific timeframe.
- Support onboarding by providing new hires with a welcome kit ordered through the store within their first week.
- Drive participation in a specific company program by offering related branded items in the store, with a target adoption rate of W%.
- Generate X amount in revenue (if applicable for an external-facing store) within the first year.
- Reduce manual swag ordering processes by Y% by centralizing requests through the company store.
- Improve employee satisfaction with swag options as measured by feedback surveys after the store launch.
Key Considerations for Goal-Setting
- Align with Overall Business Strategy: Ensure your swag store goals contribute to broader organizational objectives.
- Establish Key Performance Indicators (KPIs): Identify the metrics you will track to measure progress towards your goals (e.g., website traffic, conversion rates, average order value, employee participation, survey feedback).
- Set Realistic Targets: Base your goals on historical data (if available), industry benchmarks, and your available resources.
- Communicate Goals Clearly: Ensure all stakeholders understand the objectives and how their contributions will be measured.
- Regularly Review and Adjust: Track your progress against your goals and be prepared to make adjustments as needed.
Deliverables of the Goal-Setting Phase
- A documented set of SMART goals for the company store.
- Identified KPIs for tracking progress.
- Established baseline metrics (if applicable).
- A communication plan to share goals with relevant stakeholders.
Step 3: Selecting a Vendor Partner – Choosing the Right Ally
Your vendor partner will play a critical role in the success of your company store. Careful selection is paramount.
Key Evaluation Criteria
- Product Quality and Variety:
- Does the vendor offer a diverse range of high-quality products that align with your brand and target audience?
- Can they source unique or custom items if needed?
- What are their quality control processes?
- Branding and Customization Capabilities:
- Can they accurately reproduce your logo and brand elements across different products?
- Do they offer various decoration methods (embroidery, screen printing, digital printing, etc.)?
- What are their minimum order quantities and setup fees?
- E-commerce Platform and User Experience:
- Is their online platform user-friendly, mobile-responsive, and visually appealing?
- Does it offer features like single sign-on (SSO), budget controls, and reporting capabilities?
- Can it integrate with your existing HR or finance systems?
- Ordering and Fulfillment Process:
- How efficient and reliable is their order processing and fulfillment system?
- What are their shipping options and costs?
- Do they handle individual shipping to employees or bulk shipments to company locations?
- What is their turnaround time?
- Customer Service and Support:
- How responsive and helpful is their customer service team?
- Do they offer dedicated account management?
- What is their process for handling returns and issues?
- Pricing and Contract Terms:
- Are their pricing structures competitive and transparent?
- What are the contract terms, including duration, service level agreements (SLAs), and termination clauses?
- Are there any hidden fees?
- Sustainability and Ethical Sourcing:
- Do they offer eco-friendly product options?
- What are their ethical sourcing practices and labor standards?
- Technology and Integration:
- Can their platform integrate with your existing systems (e.g., HRIS, accounting)?
- Do they offer APIs for custom integrations?
- Security and Data Privacy:
- What security measures do they have in place to protect sensitive data?
- Are they compliant with relevant data privacy regulations?
The Vendor Selection Process
- Research Potential Vendors: Identify vendors specializing in company swag and online store solutions.
- Request Proposals (RFPs): Clearly outline your requirements and goals in an RFP.
- Evaluate Proposals: Carefully compare vendor offerings based on the criteria above.
- Conduct Demonstrations: Request live demos of their e-commerce platform and discuss their capabilities in detail.
- Check References: Speak with existing clients to gather feedback on their experience.
- Negotiate Terms: Ensure the contract aligns with your needs and budget.
- Select a Partner: Choose the vendor that best meets your requirements and offers the most value.
Deliverables of the Vendor Selection Phase
- A shortlist of potential vendors.
- A well-defined Request for Proposal (RFP).
- Detailed evaluation of vendor proposals.
- Reference checks completed.
- A negotiated contract with the selected vendor.
Step 4: Streamline Company Store Ordering and Fulfillment – Creating a Seamless Experience
A user-friendly ordering process and efficient fulfillment are crucial for driving adoption and satisfaction with your company store.
Key Elements for Streamlining
- Intuitive E-commerce Platform:
- Easy navigation and search functionality.
- Clear product descriptions and high-quality images.
- Simple ordering process with secure checkout.
- Mobile-responsive design for accessibility on all devices.
- Options for personalization or customization (if applicable).
- Defined Ordering Policies and Procedures:
- Establish clear guidelines on who can order, order limits, and payment methods.
- Consider offering different access levels for different user groups (e.g., employees vs. clients).
- Implement approval workflows if necessary (e.g., for budget allocation or departmental purchases).
- Payment and Budget Management:
- Offer convenient payment options (e.g., credit card, internal cost centers, payroll deduction).
- Implement budget controls and spending limits if required.
- Provide transparent pricing and cost breakdowns.
- Efficient Inventory Management (if applicable):
- Work with your vendor to establish appropriate inventory levels to avoid stockouts and minimize holding costs.
- Consider just-in-time (JIT) fulfillment models where items are produced on demand.
- Automated Fulfillment Processes:
- Ensure seamless order processing and transmission to the vendor’s fulfillment center.
- Real-time order tracking and notifications for users.
- Efficient picking, packing, and shipping processes.
- Clear Communication and Support:
- Provide FAQs and support documentation for users.
- Offer a clear point of contact for order inquiries and issues.
- Proactive communication regarding order status and potential delays.
- Returns and Exchanges Policy:
- Establish a clear and fair policy for returns and exchanges.
- Provide a straightforward process for handling returns.
Leveraging Technology
- Single Sign-On (SSO): Integrate with your existing SSO system for seamless user authentication.
- HRIS Integration: Connect with your HR information system to automatically provision user accounts and manage employee data.
- Budget Management Tools: Integrate with budgeting software for automated tracking and control of swag spending.
- Analytics and Reporting: Utilize the vendor’s platform or integrate with your analytics tools to monitor store performance and identify areas for improvement.
Deliverables of the Streamlining Phase
- A fully functional and user-friendly company store platform.
- Documented ordering policies and procedures.
- Integrated payment and budget management systems.
- Efficient fulfillment processes in place with the vendor.
- Clear communication channels and support resources for users.
- A defined returns and exchanges policy.
Efficient ordering and fulfillment processes are the backbone of a seamless online employee store. From placing orders to delivery, every stage should be optimized for speed and accuracy. Explore more about efficient company store fulfillment here.
Step 5: Leverage Data to Drive Engagement – Continuous Improvement and Optimization
Once your company store is launched, it’s crucial to monitor its performance, gather feedback, and use data to continuously improve engagement and optimize your offerings.
Key Data Points to Track
- Website Traffic and User Behavior:
- Number of visits, unique visitors, page views.
- Bounce rate, time spent on site.
- Most popular pages and products.
- User demographics and geographic distribution.
- Sales and Order Data:
- Number of orders, average order value.
- Top-selling products.
- Order frequency and patterns.
- Conversion rates.
- Employee/User Engagement Metrics:
- Store participation rates (percentage of eligible users who have placed an order).
- Frequency of repeat orders.
- Participation in specific campaigns or promotions.
- Feedback and Surveys:
- Collect qualitative feedback through surveys, polls, and open-ended questions.
- Monitor social media mentions and internal communication channels for sentiment.
- Inventory Levels and Turnover (if applicable):
- Track stock levels to identify popular items and avoid stockouts.
- Monitor inventory turnover rates to optimize purchasing decisions.
Strategies for Leveraging Data
- Identify Trends and Preferences: Analyze sales data and user behavior to understand which products are most popular and what styles or designs resonate with your audience.
- Personalize the Experience: Use data to personalize product recommendations, email marketing, and promotions based on user preferences and past behavior.
- Optimize Product Offerings: Regularly review your product catalog based on performance data and user feedback. Introduce new items, retire underperforming ones, and adjust pricing as needed.
- Improve Marketing and Promotions: Use data to target your marketing efforts more effectively and measure the success of different campaigns.
- Enhance User Experience: Analyze website traffic and user behavior data to identify areas for improvement in navigation, design, and the ordering process.
- Gather Qualitative Feedback Regularly: Conduct surveys and focus groups to understand user satisfaction, identify pain points, and gather suggestions for improvement.
- Measure the Impact on Goals: Track your KPIs and assess whether the company store is contributing to your overall objectives (e.g., employee engagement, brand awareness).
- A/B Testing: Experiment with different product presentations, marketing messages, and website layouts to optimize conversion rates and user engagement.
Continuous Improvement Cycle
- Collect Data: Gather relevant quantitative and qualitative data.
- Analyze Data: Identify trends, patterns, and insights.
- Develop Hypotheses: Formulate ideas for improvement based on your analysis.
- Implement Changes: Make adjustments to your product offerings, platform, marketing, or processes.
- Measure Results: Track the impact of your changes on key metrics.
- Repeat: Continuously iterate and refine your company store based on ongoing data analysis and feedback.
Deliverables of the Leveraging Data Phase
- Established data tracking and reporting mechanisms.
- Regular analysis of key performance indicators.
- Actionable insights derived from data analysis.
- Implementation of data-driven improvements to the company store.
- Ongoing feedback collection and analysis.
By diligently following these implementation steps and continuously leveraging data for optimization, you can create a successful company store that effectively supports your organizational goals and resonates with your target audience.
Promoting the Employee Company Store
Internal marketing strategies
Driving awareness is essential for the success of the corporate company store. By combining these internal marketing strategies, you can create a comprehensive and dynamic approach to driving awareness and engagement in the corporate company store.
- Email Campaigns: Crafting engaging and visually appealing email campaigns can serve as a direct and personalized way to reach employees. Tailor your messages to highlight exclusive promotions, new products, or limited-time offers available in the company store. Including testimonials or success stories from colleagues who have benefited from the offerings can add a personal touch, fostering a sense of community.
- Company Website: Ensure that the company store has a prominent and easily accessible space on the company website. A dedicated section can feature dynamic content, such as product spotlights, promotions, and a user-friendly interface for seamless navigation. Regularly updating this section keeps employees informed about the latest additions and encourages them to explore the offerings.
- Social Media: Leverage the power of social media platforms to create a buzz around the employee company store. Share visually appealing posts showcasing popular products, employee testimonials, or behind-the-scenes glimpses of the store operations. Encourage employees to share their purchases or wishlist items on their own social profiles, creating a sense of excitement and peer-to-peer promotion.
- Training Sessions for Employees: Host informative and interactive training sessions to familiarize employees with the benefits and features of the company store. Use these sessions to showcase the variety of products available, highlight any employee discounts or special perks, and address frequently asked questions. A well-informed workforce is more likely to actively participate in exploring and utilizing the corporate store.
- Intranet Announcements: Utilize the company intranet as a central hub for sharing updates about the employee company store. Regularly post announcements about new arrivals, promotions, and any upcoming events or sales. Consider incorporating interactive elements, such as polls or surveys, to gather employee feedback and tailor the store’s offerings based on preferences.
- In-Office Promotions: Bring the company store experience directly to the workplace through in-office promotions. Set up eye-catching displays in common areas, host themed events or pop-up shops, and offer exclusive in-office discounts or promotions. This not only increases visibility but also provides a tangible and interactive way for employees to engage with the products.
Incentives and promotions
Beyond awareness, incentivizing participation through promotions and rewards amplifies engagement. It motivates employees to actively participate in the best online company store for employees. Below is a list of best practices to ensure engagement.
- Limited-Time Offers:
- Time-sensitive promotions or discounts create a sense of urgency, encouraging quick decision-making while driving immediate engagement and increasing participation during the specified timeframe.
- Employee Discounts:
- Exclusive price reductions or special deals for employees boosts morale and fosters a sense of value among the workforce furthermore enhancing employee satisfaction and loyalty, positively impacting overall engagement.
- Loyalty Programs:
- Systems rewarding employees for consistent engagement or purchases cultivates a long-term relationship by acknowledging and appreciating ongoing commitment This encourages sustained participation and fosters a sense of belonging.
- Referral Programs:
- Initiatives that reward employees for referring new participants, leveraging existing employees to expand the participant base to encourage employees to actively promote the company store, driving organic growth.
- Rewards for Regular Shoppers:
- Special benefits or incentives for employees who frequently leverage the platform recognizes and appreciates consistent participation. This motivates employees to continue regular interactions, reinforcing a positive cycle of engagement.
- Recognition Programs:
- Initiatives acknowledging and rewarding outstanding contributions or achievements celebrates and highlights individual or team accomplishments which boosts morale, inspires others, and creates a positive and competitive atmosphere.
- Freebies with Purchase:
- Offering complimentary items adds extra value to purchases, creating a more appealing offer, encouraging participation and provides an immediate sense of gratification.
By strategically combining these elements, your incentives and promotions can form a comprehensive and enticing package, ensuring active and sustained engagement in the best online company store for employees.
Overcoming Challenges in Implementing Company Store for Employees
Common challenges and pitfalls
Acknowledging potential challenges is a proactive step towards successful implementation. Common hurdles such as resistance to change, technical issues, or logistical complexities can be anticipated and addressed with a well-prepared strategy.
Strategies for addressing and mitigating issues
Mitigating challenges requires a combination of foresight and adaptability. A dynamic strategy that addresses challenges as they arise ensures that the company store for employees remains resilient and continues to contribute positively to the workplace environment.
Below we’ve included some common challenges during implementation and strategies to overcome them.
- Resistance to Change: Employees may resist adapting to a new purchasing system or platform. Communication is the key to boosting participation. Clearly articulate the benefits of the company store, emphasizing convenience, cost savings, and positive impacts on brand consistency. Conduct training sessions to address any concerns and ensure a smooth transition.
- Limited Awareness: Employees may not be aware of the existence or benefits of the company store. Implementing a comprehensive internal marketing strategy by holding launch events, sending email campaigns, and holding workshops can help spread awareness. Regularly update employees about new products and promotions to maintain their interest.
- Technical Difficulties: Technical glitches or difficulties in using the online platform can turn users away. Provide thorough training on platform usage and offer ongoing support. Ensure the platform is user-friendly and consider periodic refresher courses to keep employees comfortable with the system.
- Budget Constraints: Limited budget for promoting and sustaining the company store. Prioritize cost-effective marketing channels, such as internal newsletters, social media, and intranet promotions. Encourage word-of-mouth through satisfied employees to minimize marketing costs while maximizing reach.
- Lack of Interest: Employees may not see the value or relevance of the products offered. Keep things fresh working with your partner. Regularly update the product catalog based on employee feedback. Conduct surveys to understand preferences and tailor the product selection accordingly, ensuring it aligns with the interests of your workforce.
- Supply Chain Issues: Delays or disruptions in the supply chain affecting product availability. Diversify products to reduce dependence on a single source. Maintain proper inventory for popular items and communicate transparently with employees about any potential delays. Building trust through open communication is crucial in such situations.
- Security Concerns: Concerns about the security of personal information during online transactions is a worry for all companies. Prioritize security by selecting a store partner who has robust security measures on the company store platform and clearly communicates the security protocols in place to reassure employees. Establishing trust is vital for a successful online purchasing experience.
- Lack of Customization: Employees may desire more customization options for products. Collaborate with suppliers to expand customization options. This could include personalized branding, colors, or sizing options to meet diverse employee preferences. Offering a range of customizable features enhances the appeal of the company store and makes it more aligned with individual preferences.
Conclusion
In conclusion, the implementation of a company store for employees is not merely a trend; it’s a strategic investment in the overall well-being and engagement of your workforce. This comprehensive guide serves as a roadmap, detailing the essential components and steps to establish a thriving internal company store. By embracing the potential of an online employee store, organizations can not only meet the expectations of the modern workforce but also foster a culture of brand loyalty and satisfaction.
Frequently Asked Questions
How much does it cost to set up an online company store for employees?
The cost to set up an online company store can vary significantly depending on several factors. Here’s a breakdown of potential cost considerations:
- Platform Fees: Many e-commerce platforms offer solutions for company stores. These platforms often have monthly subscription fees that can range from basic plans (suitable for smaller organizations with limited features) to enterprise-level plans (for larger companies needing more customization and support). Some platforms may also charge transaction fees per sale.
- Design and Branding: If you need custom design work for your store’s look and feel to align with your company’s brand, you’ll need to factor in those costs. This could involve hiring a graphic designer or using the platform’s design tools (which may have associated costs for premium templates or features).
- Product Sourcing and Inventory: If you plan to hold your own inventory, you’ll have upfront costs for purchasing the products, but the cost per piece will be significantly less, offering more value to your stakeholders. Alternatively, many company stores utilize a print-on-demand or dropshipping model, which can reduce initial inventory costs but users are often less engaged because of the higher costs.
- Integration Costs: If you need to integrate the store with other internal systems (like HR platforms for single sign-on or accounting software), there might be costs associated with these integrations, either through platform features or custom development.
- Marketing and Promotion (optional): While the store is for employees, you might want to allocate a budget for internal marketing efforts to announce the store’s launch and promote new products.
- Maintenance and Support: Consider ongoing costs for platform maintenance, potential software updates, and customer support (if you handle it directly).
In summary, setup costs could range from a few hundred dollars per month for a basic platform with minimal customization to several thousand dollars upfront and ongoing for more complex, custom-designed stores with integrated systems. It’s best to identify a swag partner and leverage their platform solution.
Do we need an in-house team to manage the store?
The level of in-house involvement required to manage your company store depends on the complexity of the store and the services you outsource. Here are a few scenarios:
- Fully Outsourced: Many companies choose to partner with a third-party vendor that handles everything from platform setup and product sourcing to order fulfillment and customer service. In this case, your in-house team’s involvement might be limited to initial setup, providing brand guidelines, and occasional communication with the vendor.
- Hybrid Approach: You might choose to manage certain aspects in-house, such as product selection and branding, while outsourcing tasks like platform management, payment processing, and shipping. This requires some dedicated internal resources.
- Fully In-House: For larger organizations with the necessary resources, it’s possible to manage all aspects of the online store internally, including platform administration, product procurement, inventory management, order fulfillment, and customer support. This requires a dedicated team with expertise in e-commerce operations.
Consider the following factors when deciding on your management approach
- Budget: Outsourcing can have ongoing costs, while an in-house team involves salary and benefits.
- Expertise: Do you have the necessary e-commerce expertise within your organization?
- Time Commitment: How much time can your internal team realistically dedicate to managing the store?
- Scale: The size and complexity of your store will influence the management effort required.
For many companies, especially those new to online stores, a fully or partially outsourced model is often the most efficient and cost-effective way to get started.
Where do the products in the store come from?
The products offered in your company store can be sourced in several ways:
- Branded Merchandise Suppliers: These are companies, like Brandscape, that specialize in creating and supplying products customized with your company’s logo and branding. This could include apparel, stationery, promotional items, and more. You can either purchase and hold inventory or work with suppliers that offer on-demand printing and shipping.
- Retail Partnerships: You might establish partnerships with existing retailers to offer their products within your company store. This could be particularly relevant if you want to offer a wider variety of items beyond branded merchandise.
The best sourcing strategy will depend on
- The types of products you want to offer: Branded merchandise, general goods, or a mix.
- Your budget and risk tolerance: Holding inventory involves upfront costs and potential unsold items.
- Your operational capabilities: Do you have the resources to manage inventory and shipping if needed?
Many company stores utilize a combination of these sourcing methods to offer a diverse range of products.
Can we offer both branded merch and general products?
Absolutely! In fact, offering a mix of branded merchandise and general products can be a great way to cater to a wider range of employee needs and preferences.
- Branded Merchandise: This helps reinforce company culture, promotes brand awareness, and can foster a sense of belonging among employees. Examples include t-shirts, hats, water bottles, bags, and office supplies featuring your company logo.
- General Products: Offering everyday items or products relevant to your industry can provide added convenience and value for your employees. This could include electronics, home goods, gift items, or even safety equipment, depending on your company’s nature.
Benefits of offering both
- Increased Engagement: A wider selection can make the store more appealing and encourage more employees to use it.
- Catering to Diverse Needs: Employees have different interests and requirements. Offering a variety of products ensures there’s something for everyone.
- Convenience: Employees can purchase both company-related items and other useful products in one place.
When offering both, consider
- Categorization: Clearly separate branded merchandise from general products within your store for easy navigation.
- Sourcing Strategies: You might need to use different sourcing methods for branded items versus general products.
- Branding Consistency: Ensure that the branding on your merchandise is consistent and aligns with your company’s guidelines.
By strategically offering a mix of branded and general products, you can create a more valuable and engaging online store for your employees.
