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First off is how large is the target market. This is the most crucial element when it comes to the volume of products so determine both existing customers and prospects in this list to help you get started. Savings that the company gets from ordering large runs shouldn't be set aside too because if the company is confident enough in sending the message with these types of products and it seems working then there's no pain in acquiring extra. For companies in Australia for example, A-One is one of those promotional suppliers where you can get marketing supplies from and buying that extra pile may never hurt due to better savings it can offer.
Secondly is the current or desired geographic reach to the crowd. Understand how dispersed is your target audience by comparing for instance two types of customers - one perhaps a local real estate agent requiring products to give away at children's school feats, etc while another customer needs fridge magnets. Distinguish which of these are your audience then develop a strategy in line with that so you can be more valuable in sending your "message" to them.
Thirdly, know who are you targeting with those promotional products. Yes these items are going to be geared towards both current and prospective customers but you must have unique priorities for each type. Keep in mind, those ones that are referred by your current customers will be your prospective customers.
Fourth is to evaluate what you want to quickly attain through these items you deliver to the audience. By conveying whether an item is for one-time campaign or ongoing campaign then your products become easier to quantify. Many promotional suppliers such as A-One could possibly consult companies about the quantities they should have according to their customer database.
Lastly is how you interact with your customers. Items for your marketing needs are viewed as "In Real Life" items so if your business entails a lot of face-to-face contact with customers then there must be more "face time" products in your list. In simpler sense, there's no reason in buying thousands of hats for your employees if they interact by phone on a regular basis.