Guest Post by Matt Powers
Promotional products make up only five percent of global advertising spending yet it is a $17.4 billion market. Over 2.5 million product searches are conducted per month for the more than 800,000 product options. Why are these advertising items so popular and how can I leverage these hidden gems for my business?
The Money
Promotional products have the lowest cost per impression and are the best shot of getting the most bang for your buck. According to the 2010 Global Advertising Specialties Impressions Study, the cost per impression of a promotional item was .005 cents in the United States. If we put these numbers up against some of the more traditional choices like prime time television ($0.018), national magazines ($0.045) or spot radio ($0.058), the choice to choose promotional products seems like your best bet.
Before choosing to make promotional products part of your marketing campaign, remember to lay out a strategy before beginning your search. Keep things realistic. Determine a price range early. Know your target audience and find a gift that can be useful. Contact clients and confirm their gift policies. And finally don’t forget “every penny counts”. Plan ahead so you aren’t surprised with big rush charges and shipping costs.
The Impact
Promotional products provide prospective customers, current clients and employees something useful that they can hang on to. Traditional advertising avenues are seen and/or heard by a consumer for around 30-60 seconds, promo items are kept on average for 5.4 mnths.
These tradeshow giveaways give businesses an excellent opportunity to leverage themselves by attracting new prospective clients, run contests and through promotions.
Social media is a great way to keep your current customers happy while attracting others. Incentives like promotional products can boost sharing, comments and ‘likes’ by offering a simple thank you gift. Those simple clicks of the mouse can result in higher rankings, more traffic and the biggest reward, more conversions.
Handing out free gifts at tradeshows, events or parties is another great way to keep people thinking about your business. As your parents probably told you growing up “it’s the little things that count”. They went on to tell you how people really appreciate and remember so always say your “please-s” and “thank you-s”. And the ASI study shows 83 percent of people who receive promo items also could identify the advertiser on their product.
The Product
With over 800,000 products to choose from, the hardest question always is, what do we want to slap our logo on?
Portraying the appropriate image for your brand is important. This can be reflected in perceived value, relevance or the aesthetic quality of the item. The ability to stay pertinent and useful while also telling a little bit more about your company is how people will remember you.
The most popular type of item has and will probably always be writing instruments. You see them everywhere and most likely have a desk drawer full of them. 46 percent of people own promotional pens, followed by shirts (38%), calendars (24%), bags (23%) and hats (16%).
Consider quality over quantity when it comes to selecting products. Instead of a large number of inexpensive handouts, what about just the right amount of higher quality items? Aim to impress with something that people will love to use and show off to others, being the one lucky enough to get their hands on one.
The product tends to reflect the brand. Imprint your logo on a higher end item or innovative product, customers will most likely think of your brand whenever they want to buy something similar.
The most, most, most important part of advertising has always been conversion. If a product doesn’t sell, your marketing efforts have failed. According to a study by Georgia Southern University, 52 percent of people who received promotional products did business with the company and also showed a positive perception of the brand as a whole.
Breaking the Myth
Like any traditional advertising campaign, keep in mind what demographic your trying to reach and how your potential customers would perceive it. Try to think as objectively as possible based on how useful, attractive and enjoyable the product would be for the target audience.
While traditional advertising like television commercials, radio spots, magazine ads and billboards will always be around, promotional products are the diamond in the rough companies dont typically think of when planning a marketing campaign. The numbers don’t lie. Promotional products lead to new customers, conversions and long lasting relationships because of the usefulness of the gift.
Did you know the Wrigley company actually sold soap and baking powder before giving away gum as a promotional product? Lesson learned.
Matt Powers is an Internet Marketer at Blue Soda Promo, an online >promotional products company. BSP imprints logos on items like custom tote bags, sunglasses, coffee mugs, koozies and stress balls at ridiculously low prices.
